Siam Pan Group Public Co. Ltd.

Siam Pan Group Public Co. Ltd.

12.30
THB
+0.20
(+1.65%)
1.01EPS
10.82P/E
3.76BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
10.56
10.12
9.82
9.49
9.66
9.42
8.63
7.54
8.47
7.35
7.89
5.91
6.68
6.39
Basic EPS, GAAP
1.89
1.28
1.41
1.64
1.24
1.1
0.89
1.08
1.33
1
1
0.72
0.93
1.01
Free Cash Flow per Basic Share
1.73
0.55
2.64
-1.62
0.46
1.18
2.1
1.56
0.58
0.69
1.41
0.77
1.87
0.9
Dividend per Share
1.3
0.5
1.05
0.7
0.8
0.45
0.7
0.7
0.9
0.45
0.8
0.8
0.4
- -
Book Value per Share
11.4
12.18
12.55
13.5
13.93
14.57
14.76
15.14
15.59
16.15
16.35
16.26
16.75
16.59
Tangible Book Value per Share
11.4
12.18
12.55
13.5
13.93
14.57
14.76
15.14
15.58
16.15
16.34
16.26
16.75
16.59
Basic Weighted Avg Shares
345
345
345
345
345
345
345
345
345
345
345
345
345
345
Sales/Revenue/Turnover
3,642
3,490
3,388
3,275
3,333
3,249
2,977
2,601
2,924
2,534
2,720
2,040
2,306
2,206
Operating Margin (%)
17.21
13.72
16.05
19.98
14.71
13.47
11.38
16.56
18.77
14.16
14.95
12.44
14.45
16.96
Depreciation Expense
75
83
89
105
104
93
87
87
83
80
71
66
60
54
Net Income, GAAP
651
443
488
564
427
379
307
373
460
344
344
247
320
348
Effective Tax Rate (%)
18.48
20.14
20.15
20.11
19.98
19.98
20.44
19.78
19.84
20.03
20.24
20.2
20.95
20.18
Profit Margin (%)
17.87
12.7
14.4
17.23
12.82
11.67
10.29
14.34
15.74
13.58
12.63
12.1
13.87
15.77
Working Capital
3,273
3,454
3,609
2,912
3,106
3,399
3,536
3,716
3,895
4,135
4,238
4,252
4,492
4,453
LT Debt
- -
- -
- -
- -
- -
- -
- -
72
69
66
62
59
56
54
Total Equity
3,960
4,232
4,362
4,689
4,839
5,058
5,125
5,257
5,398
5,574
5,640
5,611
5,778
5,723
Return on Invested Capital (%)
16.54
10.6
11.14
11.47
7.91
7.04
5.25
6.51
8.04
5.12
5.68
3.56
4.55
5.15
Return on Capital (%)
16.76
10.76
11.31
12.42
8.96
7.66
6.02
7.16
8.52
6.21
6.09
4.36
5.58
6.07
Return on Common Equity (%)
17
10.9
11.43
12.55
9.03
7.71
6.06
7.23
8.68
6.28
6.13
4.39
5.62
6.11

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
3
3
3
LT Borrowings
- -
- -
- -
LT Finance Leases
56
55
54
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
345
345
345
Market Capitalization
3,795
3,657
3,761

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
4,817
4,945
4,784
Cash, Cash Equivalents & STI
3,878
4,063
3,725
Accounts Receivable, Net
13
14
9
Inventories
904
842
1,011
Total Current Liabilities
325
325
330
Payables & Accruals
274
261
280
ST Debt
3
3
3
Deferred Revenue
47
61
47

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.87%
1.92%
2.98%
Free Cash Flow
7.44%
31.19%
141.27%
Net Income, GAAP
-1.79%
-0.1%
29.65%
Sales/Revenue/Turnover
-3.06%
-1.1%
13.06%
Total Cash Common Dividend
- -
- -
-50%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
562
519
367
591
2,040
2025
609
666
465
566
2,306
2026
644
531
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.25
0.19
0.15
0.12
0.72
2025
0.28
0.28
0.14
0.23
0.93
2026
0.34
0.3
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.8
2025
- -
- -
- -
- -
0.4
2026
- -
- -
- -
- -
- -

Company Description

CEO
Dusadee Rotrakarn
Full Time Employees
1,268
Sector
Process industries
Industry
Industrial specialties
Address
488 Nakornsawan Road Bangkok Thailand 10300
IPO Date
Jan 9, 1998
Business
Siam Pan Group Public Company Limited is a Thailand-based company engaged in the manufacturing, distribution, and export of lubricating oils, greases, and automotive batteries. Founded in 1959 and headquartered in Bangkok, the company operates through three key subsidiaries: Premier Lubricant Co., Ltd., which manufactures and sells lubricating oils for various engine types under brands such as Trane, Deterla, and Super Star, as well as custom-branded products and plastic containers; Siam Lubricant Industry Co., Ltd., which produces lubricating greases under the Trane and Crocodile brands; and Siam Battery Industry Co., Ltd., which distributes automotive batteries under the Boliden brand. Siam Pan Group serves both domestic and international markets, including exports mainly to Laos, Cambodia, and Myanmar. The company's product portfolio includes a broad range of engine oils—covering gasoline, transmission, light and heavy-duty diesel engines—along with agricultural and motorcycle lubricants and specialty products like brake fluid, coolant, marina super lube, super HD hydraulic oils, cutting oils, and ice lube products. Siam Pan Group acts as the distributor and wholesaler for these products, leveraging its own sales force and distribution channels. Recent changes include management updates, notably the appointment of Mr. Suebsakul Rotrakarn as Director and Executive Director in April 2023, reflecting an evolving leadership structure. The company continues to consolidate and expand its operations across Thailand and neighboring Southeast Asian markets while maintaining its strategic focus on manufacturing excellence and diversified product offerings. Siam Pan Group operates primarily in the lubricants and automotive battery industries, targeting industrial, automotive, and agricultural sectors. It maintains a registered and paid-up capital of approximately Baht 345 million and emphasizes both manufacturing and distribution roles within its group structure, allowing synergy between its subsidiaries. Overall, Siam Pan Group Public Company Limited is a well-established player in the lubricants and automotive battery sectors in Southeast Asia, focusing on quality manufacturing, diversified product lines, and expanding market presence through both domestic and international channels. The company remains committed to product innovation, market expansion, and strategic management to sustain growth in the competitive materials industry.