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    Industrial services

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    Engineering & construction
Thai Polycons Public Company Limited

Thai Polycons Public Company Limited

0.10
THB
0.00
(0.00%)
-1.88EPS
63.00MMarket 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
5.68
4.13
4.91
4.75
6.05
5.91
6.63
6.94
7.58
8.78
10.48
5.68
5.81
5.42
Basic EPS, GAAP
-0.98
-0.58
-0.52
0.21
0.31
0.28
0.17
0.03
-0.55
-0.32
-0.42
-0.13
-0.69
-1.09
Free Cash Flow per Basic Share
-0.88
-0.5
-1.76
-0.53
-0.24
-0.18
-2.31
-0.29
-0.35
-0.41
0.36
0.69
1.38
1.33
Dividend per Share
- -
- -
- -
0.05
0.12
0.21
0.31
0.4
0.55
0.22
0.45
0.78
0.24
0.18
Book Value per Share
0.8
1.16
1.96
2.17
2.48
2.71
2.88
2.83
2.31
1.94
1.56
1.43
0.39
-0.56
Tangible Book Value per Share
0.78
1.14
1.94
2.16
2.45
2.69
2.85
2.77
2.25
1.88
1.52
1.38
0.17
-0.78
Basic Weighted Avg Shares
454
523
536
567
567
570
573
573
573
573
573
573
573
573
Sales/Revenue/Turnover
2,576
2,157
2,632
2,694
3,432
3,367
3,798
3,974
4,344
5,029
6,001
3,252
3,325
3,102
Operating Margin (%)
-16
-9.71
-3.9
9.6
15.42
18.27
15.44
11.08
1.94
5.86
2.56
13.41
7.33
-5.78
Depreciation Expense
67
61
61
78
109
156
167
230
362
384
369
276
279
282
Net Income, GAAP
-445
-302
-278
121
175
158
95
16
-315
-186
-242
-76
-394
-624
Effective Tax Rate (%)
- -
- -
- -
- -
4.28
0.96
- -
- -
- -
21.19
36.32
12.36
- -
- -
Profit Margin (%)
-17.28
-13.98
-10.58
4.5
5.11
4.69
2.51
0.39
-7.25
-3.69
-4.03
-2.34
-11.86
-20.11
Working Capital
82
782
894
710
27
199
-32
-623
-5
-381
-1,900
-1,251
-780
-1,433
LT Debt
648
802
863
1,602
1,698
1,846
2,971
3,095
4,468
5,071
1,816
2,481
2,482
2,155
Total Equity
695
1,668
2,514
2,854
3,262
3,785
4,197
4,448
3,803
3,669
3,339
3,155
2,704
1,923
Return on Invested Capital (%)
- -
- -
- -
- -
9.77
10.46
- -
- -
- -
2.33
3.23
4.86
- -
- -
Return on Capital (%)
- -
- -
- -
- -
0.23
-2.75
- -
- -
- -
-1.95
-3.63
-0.57
- -
- -
Return on Common Equity (%)
-90.1
-58.92
-32.47
10.34
13.3
10.68
5.96
0.95
-21.4
-15.28
-24.19
-8.93
-75.93
- -

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2,148
2,050
2,077
LT Borrowings
2,450
2,391
2,132
LT Finance Leases
31
28
23
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
573
573
573
Market Capitalization
137
97
63

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,552
2,008
1,884
Cash, Cash Equivalents & STI
53
28
22
Accounts Receivable, Net
602
584
570
Inventories
131
131
110
Total Current Liabilities
3,331
3,237
3,317
Payables & Accruals
952
958
942
ST Debt
2,148
2,050
2,077
Deferred Revenue
203
202
176

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.39%
-9.37%
-14.32%
Free Cash Flow
100.29%
7.71%
98.91%
Net Income, GAAP
-201.89%
-357.38%
417.34%
Sales/Revenue/Turnover
4.61%
0.17%
2.26%
Total Cash Common Dividend
- -
17.17%
-68.7%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
889
775
807
781
3,252
2025
888
818
815
804
3,325
2026
762
721
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.1
-0.01
0.05
-0.06
-0.13
2025
-0.08
-0.25
-0.2
-0.16
-0.69
2026
-0.14
-0.59
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.18
0.36
0.13
0.11
0.78
2025
0.06
0.05
0.11
0.02
0.24
2026
0.02
0.03
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Pathompol Saosap
Full Time Employees
200
Sector
Industrial services
Industry
Engineering & construction
Address
2, 4 Prasertmanukit Soi 29 Yeak 8 Bangkok BM Thailand 10230
IPO Date
Mar 4, 2009
Website
thaipolycons.co.th
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Business
Thai Polycons Public Company Limited engages in the provision of integrated construction services in Thailand, serving both government agencies and private sector clients. The company offers a broad range of construction services including general construction, design, procurement, and installation of engineering systems; steps and piles; foundation; soil collapse prevention; structural, architectural, and landscape architectural works; and system engineering. It also operates segments in electricity current selling from renewable energy, biogas sales, real estate development including land and house sales, and sales and services involving the import, export, and distribution of local and foreign products. Thai Polycons provides additional services such as the design, installation, and control systems for machinery, automatic car parking, building security, and maintenance and repair services. The company distributes and installs air pollution control equipment and operates power plant maintenance services along with electricity production. Founded in 1988 and headquartered in Bangkok, Thailand, Thai Polycons focuses on the large-scale construction sector under international standards with ongoing project work in infrastructure, hospitals, commercial buildings, and power plants. Recent major changes include securing a 125 million baht construction contract for the Bangkok Hospital Sanam Chan project and strategic involvement in renewable energy projects. The company has faced financial challenges with a revenue decline and losses reported in 2024, accompanied by a credit rating downgrade to BB+ from BBB- due to weak earnings in a difficult market environment and exposure to high-value projects such as the Sunitra Rajdamri project. Thai Polycons continues business development through maintaining its construction operations alongside diversification into energy investments and real estate. The company celebrated its 35th anniversary in 2023 and has ongoing employee recognition programs and corporate social responsibility activities including donations and community engagement. Thai Polycons remains a significant player in Thailand's construction and engineering services market while adapting to evolving industry conditions and expanding its service portfolio.