ICHI targets 2026 revenue of 9 billion baht, ventures into fertilizer and partners with COCOCO

Kaohoon··TH·Read original
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Summary · why it matters

Mr. Tan Passakornnatee, Chief Executive Officer of Ichitan Group Public Company Limited (ICHI), revealed that the company has set a revenue target of 9 billion baht for 2026, up from approximately 8.16 billion baht in the previous year. He expects the second half to outperform the first half in both sales and profit. To expand its revenue base beyond beverages, ICHI is entering the fertilizer business through a joint venture with the Eakayongwong Group, establishing Tan Fertilizer Company Limited with a registered capital of 150 million baht. ICHI will hold 51% and the Eakayongwong Group 49%. The Thai chemical fertilizer market is valued at over 80 billion baht per year, while the Compound NPK fertilizer market, a key segment, is worth approximately 32 billion baht. The company aims for revenue of around 1.5 billion baht in the next three years (2027-2029) and a market share of 3-4%. Meanwhile, ICHI has partnered with Thai Coconut Public Company Limited (COCOCO) to launch a new product, "Yen Yen x Thai Coco," a herbal drink with coconut water. The company targets sales of 15 million baht this year and will use the first batch of approximately 100 tons of fragrant coconut, or about 376,000 fruits, to produce 2 million bottles.

Impact on assets 2

Consumer Staples▲ · 2 stocks

Off-coverage companies 2

Tan Fertilizer Company LimitedPrivate▲ Positive
Capitalrelevance

New joint venture Tan Fertilizer, 51% owned by ICHI with 150 million baht registered capital, targets ~1.5 billion baht revenue in 2027-2029.

Ek Yong Wong Company LimitedPrivate± Mixed
Capitalrelevance

Named as the 49% JV partner in Tan Fertilizer; no independent financial details or impact given.

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