1. Thailand Stocks

  2. •

    Consumer Defensive

  3. •

    Agricultural Farm Products
Premier Quality Starch Public Company Limited

Premier Quality Starch Public Company Limited

PQS.BK
Premier Quality Starch Public Company LimitedTH flagStock Exchange of Thailand
1.84
THB
-0.01
- -
1.23BMarket Cap
Premier Quality Starch Public Company Limited
PQS.BK
(Stock Exchange of Thailand)

Recent

price

1.84

P/E

ratio

- -

div

yld

- -

ROIC.AI

2020
2021
2022
2023
2024
2025
TTM
FRC
1.86
3.29
3.7
3.57
4.05
2.92
3.17
Revenue per Share
0.12
0.47
0.42
0.21
0.35
-0.12
-0.17
Basic EPS, GAAP
0.05
0.33
0.34
-0.36
-0.47
-0.1
-0.1
Free Cash Flow per Basic Share
0.36
- -
0.41
0.15
0.13
0.13
0.13
Dividend per Share
0.77
1.24
1.31
1.65
1.82
1.56
1.59
Book Value per Share
0.92
1.38
1.49
3.11
3.22
2.99
3.01
Tangible Book Value per Share
670
670
670
651
670
670
670
Basic Weighted Avg Shares
1,249
2,203
2,481
2,325
2,711
1,953
2,125
Sales/Revenue/Turnover
8.19
16.98
13.66
6.7
10.18
-3.38
-4.66
Operating Margin (%)
66
79
88
91
114
177
182
Depreciation Expense
82
314
284
136
231
-79
-114
Net Income, GAAP
2.04
3.09
6.3
1.89
3.48
- -
3.1
Effective Tax Rate (%)
6.57
14.24
11.43
5.84
8.53
-4.05
-5.37
Profit Margin (%)
-467
113
171
686
337
82
294
Working Capital
7
259
219
164
154
111
316
LT Debt
617
931
1,006
2,035
2,176
2,015
2,031
Total Equity
- -
25.92
19.82
7.38
10.06
- -
- -
Return on Invested Capital (%)
- -
25.59
20.08
9.72
14.82
- -
-2.67
Return on Capital (%)
- -
46.54
33.17
13.88
20.15
-6.99
-9.73
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
426
604
606
LT Borrowings
101
98
291
LT Finance Leases
14
13
26
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
670
670
670
Market Capitalization
1,327
985
1,065

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
630
747
985
Cash, Cash Equivalents & STI
214
299
288
Accounts Receivable, Net
147
243
288
Inventories
204
155
356
Total Current Liabilities
525
665
691
Payables & Accruals
79
50
58
ST Debt
426
604
606
Deferred Revenue
17
10
13

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
32.14%
-7.42%
Free Cash Flow
- -
68.91%
-78.86%
Net Income, GAAP
- -
31.34%
-134.18%
Sales/Revenue/Turnover
- -
14.27%
-27.93%
Total Cash Common Dividend
- -
- -
-0.76%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
831
440
770
669
2,711
2025
459
520
462
512
1,953
2026
630
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.19
- -
0.12
- -
0.35
2025
0.08
-0.04
-0.12
- -
-0.12
2026
0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.08
0.05
- -
0.13
2025
- -
0.1
0.03
- -
0.13
2026
- -
- -
- -
- -
- -
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Business
Premier Quality Starch Public Company Limited engages in the production and sale of native tapioca starch and modified starch products for food-grade and industrial-grade applications including paper, food processing, and other sectors; it also generates and distributes electricity from biogas derived from factory waste and rooftop solar power. The company, founded in 2005 and headquartered in Mukdahan, Thailand, operates production facilities in Mukdahan, Sakon Nakhon, and Kalasin provinces with total starch capacity exceeding 130,000 tons annually, serving domestic and international markets primarily in Asia such as China through export channels comprising about 74% of tapioca starch revenue. Products meet international standards including ISO9001:2015, ISO14001:2015, HACCP, GMP, Halal, and green industry certifications, with modified starch customized via proprietary formulas or client collaborations for enhanced viscosity, texture, stability, adhesion, and durability. Recent developments include the initial public offering in early 2023 to fund expansions reducing financial costs; launch of a new tapioca starch plant and modified starch plant in 2024 with production starting in Q2 generating revenue and increasing monthly depreciation by 6-6.5 million baht; a June 2025 joint investment with G & G 2015 Co., Ltd. to form a new venture; temporary suspension of Kalasin branch operations in 2025 with ongoing environmental compliance progress reported in November; and strategic enhancements in operational efficiency, farmer networks for cassava supply, and carbon footprint management across its bioenergy operations producing over 44,000 MWh annually.