Krungsri Securities and Finansia Syrus maintain their buy recommendations on Ratchathani Leasing Public Company Limited, or THANI, with 2027 target prices of 2.90 baht and 2.75 baht respectively. Krungsri expects net profit for 2026 and 2027 at 1.326 billion baht and 1.372 billion baht, growing 16% and 3% from the same periods a year earlier, supported by good asset quality, low NPLs and repossessed vehicles, a high dividend yield of up to 6% per year, and a policy of paying dividends of no less than 50% of net profit. The company targets new loan disbursements of 17 billion baht this year, with 8.241 billion baht already disbursed in the first half. In the second half, it will focus more on new trucks. Financial costs are likely to decline due to lower interest rates on debentures and bills of exchange. It targets credit cost in 2026 of no more than 2.0%, with the first half at 0.7%. Repossessed vehicles currently stand at 50 to 60 units per month, below the normal 90 to 100 units. Management expects cost savings from maturing debentures of 4.4 billion baht and targets average financial costs of around 3.00% in 2026 and below 3% in 2027.
Ratchthani Leasing Public Company LimitedBrokers maintain buy ratings with high target prices, citing strong earnings growth, low NPLs, high dividend yield, and declining financial costs.
