Yuanta Securities expects Aurora Design Public Company Limited, or AURA, to post a second-quarter 2026 net profit of 87 million baht, down 87.6 percent from the previous quarter and down 78.2 percent from a year earlier, as a rapid decline in gold prices pressured both sales and gross margins, even though revenue from the gold-for-cash business continued to grow and hit a new high. The research team assesses that earnings bottomed out in the second quarter of 2026 and will gradually recover in the third quarter of 2026, helped by seasonal factors, more stable gold prices, and loan portfolio growth. It maintains its 2026 profit forecast and buy recommendation, viewing the gold-price impact as only a short-term factor, while the lending business remains a long-term growth driver. The stock trades at a price-to-earnings ratio of just 12.7 times, but strategically the firm advises waiting to buy after the second-quarter 2026 results are announced, as this quarter's earnings are likely to be weak and could weigh on share-price sentiment.
Aurora Design PCLRapid decline in gold prices pressured sales and gross margins, causing Q2 profit to drop sharply.
Gold price decline is the main driver of AURA's weak earnings and margin pressure.