Krungsri Securities expects OSP's normalized profit in the second quarter of 2026 at 1.06 billion baht, up 5% year-on-year but down 9% quarter-on-quarter. Gross margin is forecast to reach a new high of 42.6%, driven by an improved cost structure following a major production efficiency overhaul, helping to offset still-weak revenue from Myanmar, which accounts for 20% of total revenue. Total revenue is projected at 6.1 billion baht, down 10% year-on-year. Normalized profit for full-year 2026 is estimated at 3.63 billion baht, up 4% year-on-year, with the first half expected to account for 61% of the full-year forecast. The research team maintains a Neutral recommendation and a 2026 target price of 18.40 baht, based on a 15-times price-to-earnings ratio.
Osotspa Public Company LimitedKrungsri Securities expects OSP's normalized profit to grow 5% YoY in Q2 2026 with gross margin reaching a new high of 42.6%
Bank of Ayudhya PCL