Summary · why it matters
Srinanaporn Marketing Public Company Limited, or SNNP, is rushing to restore production capacity for Lotus brand products after its factory was affected by a fire. Some production lines are now back in operation, including chicken drumsticks, chicken skin, bread, and chicken legs, while the company is also using external manufacturers, or OEM, to supplement output. However, Viroj Vachiradetkun, Senior Deputy Managing Director of the Domestic Business Division, said the quantity of goods produced is still not sufficient to meet market demand, so the company has had to allocate quotas to customers. As for the damage from the fire, the figure is still being finalised together with the insurance company, and since the company has insurance covering all the damage, it is confident there will be no impact on its financial statements. For the fourth quarter, which is the high season, the company is accelerating marketing through its main products, especially Jele, which was developed in collaboration with Camu and has received a better-than-expected response, prompting another round of restocking, with plans to extend the partnership to new products next year. Meanwhile, Bento will become one of the main products to offset sales lost from Lotus, along with the launch of a new advertising film series called "Ku Cheep," or Life Saver. In overseas markets, especially Vietnam, there are clear signs of recovery, in line with Vietnam's economy and GDP growth of more than 9%. DAOL Securities expects third-quarter 2026 profit to expand compared with the previous quarter, and expects fourth-quarter 2026 profit to grow strongly both year on year and quarter on quarter. It maintains its 2026 net profit forecast at 371 million baht, down 28% year on year, and keeps its buy recommendation with a target price of 8.00 baht, based on a 2026 PER of 19.5x. It views that profit has already passed its lowest point in the first quarter of 2026.
Srinanaporn Marketing Public Company Limited
CP Axtra Public Company Limited