Goblek Securities stated that STX Conducts a quarrying business by producing and distributing industrial stone products for construction such as granite, limestone, and dolomite ore (Dolomite), including transportation services. with a proportion of revenue in 2023 at 85.1% and 0.1%, respectively. If divided by granite, limestone, and dolomite mineral products, in 2023 the proportion was 30.2%, 47.9%, and 11.4%, respectively.
The company hasincome andnet profit Year 63-65 is at 410.9-279.6 million baht and 33.2-21.6 million baht, respectively, representing an average CAGR contraction rate throughout 2020-65 at -18% and -19% per year, respectively. Due to the economic slowdown from the COVID-19 outbreak situation, there was also a temporary closure of the Nong Kha mine in 2022 due to increased production costs from deeper mine production, while revenue and profits this year 66 grew 32%YoY and 73%YoY to 316 million baht and 38 million baht, respectively, due to a shortage of construction stones in the eastern region causing both demand and selling prices increased to support operating results
Expected operating results for 2024 Grew 28% to 46 million baht, driven by 1) infrastructure construction and public utilities in the EEC according to the construction plan for 2023-2027. 2) Improvement and construction of the U-Tapao Airport development project. and the Eastern Aviation City in 2024-70 and 3) the construction of Laem Port Phase 3 is a factor supporting additional income.
quantityIPO stocks 65 million shares and has a securities value at the IPO price of 726.4 million baht. The IPO price is calculated as a trailing P/E of 24.22 times, which is higher than companies doing similar businesses such as CMAN and SUTJA at 15.7 times by raising funds to 1) use it as money Invest in the quarrying and mineral business or used to buy quarries and minerals or used in the construction of factory buildings, including investments in machinery and related equipment, and 2) as working capital for business operations
Phongphak Suthipong, Deputy Managing Director Investment Banking Department 2, Ivy Global Securities, as a financial advisor and manager of the underwriting and underwriting of additional common shares of Stone One Public Company Limited (STX) The first industrial quarry operator for construction to be listed on the Stock Exchange of Thailand revealed that After the initial sale of additional common shares to the general public (IPO) of 65 million shares at a price of 3.00 baht per share between 18-19 April 2024 and 22 April 2024, STX shares received the attention of investors. Buy a lot of stocks Because of confidence in the fundamentals of the company with strong business fundamentals and high growth potential
Songwut Wechachanukroh Chief Executive Officer of Stone One Public Company Limited or STX revealed that the company has set goals to expand raw material sources and production in order to expand the business to cover all regions. With the principles of sustainable development Social responsibility and environment For the money received from fundraising The company will use it to invest or purchase stone and mineral mining businesses or use it in the construction of factories, machinery and related equipment. as well as used as working capital in the business
STX’s major shareholders after the IPO are the Dr. Jarerath Pingklasai family, holding 34.86 percent of the shares, the Ano family. holds 33.56% of the shares and Mr. Sayam Watcharapreecha holds 3.91% of the shares. The company has a policy to pay dividends to shareholders at a rate of not less than 50% of the net profits of the separate financial statements after deducting taxes. and legal reserve funds
forPerformance in 2023 The company had a net profit of 38.04 million baht, an increase from the previous year of 16.48 million baht or 76.5%, mainly due to increased revenue growth in 2023, with a total income of 371.29 million baht, growing from the previous year by 32.8% by factors that helped drive Driving this growth comes from sales of 20 mm granite from the Nong Kha quarry for the construction industry. Return to production as usual Including the company’s new product at Chom Bueng Mine which is powdered dolomite. It is sold to customers in the glass industry. and cement industry This is a product with added value (Valued added) and increases the customer base to more diverse industries. Supporting gross profit margin is 31.26%, net profit margin is 10.24%.
After the company is listed on the mai market, it plans to expand its source of raw materials. and future production Expand the industrial stone business for construction to cover all regions of Thailand. By investing in a quarrying business that is already in operation or development of new quarries which is in an appropriate location with the intention of mining in an environmentally friendly manner By creating continuous profits for shareholders With the principles of sustainable development
Praphan Charoenprawat, Manager of the MAI Stock Exchange (mai) It was revealed that STX and its subsidiaries operate the business of quarrying stones and minerals, including providing complete transportation services to customers at the job site. There are 2 mining concessions consisting of:
1) Nong Kha Mine, Si Racha District, Chonburi Province granite production which is used in the construction of buildings, roads, and sold to customers in the Chonburi province. Including the Eastern Economic Corridor EEC and
2) Chom Bueng Mine, Chom Bueng District, Ratchaburi Province Produce and sell limestone and dolomite minerals Which is used in the construction industry, cement, glass production, soil balancing or water treatment, etc.
At the end of 2023, both mines have reserves of 1.17 and 13.82 million tons. Production reserves will run out within 2025 and 2030, respectively. In 2023, the group has a revenue structure separated by product, including granite. : Limestone : Dolomite mineral proportion 33 : 55 : 12 respectively.
STX has paid-up capital after the offering of 307.13 million baht with a par value of 1.00 baht per share, consisting of 242.13 million existing common shares and 65 million additional common shares, which will be offered to individuals at the discretion of the underwriter, numbering 64. Million shares offered for sale to the company’s benefactors, 0.50 million shares, and directors, executives, and employees, 0.50 million shares, on 18 – 19 April and 22 April 2024, at a price of 3.00 baht per share, representing an IPO value of 195 million. Baht Securities value at IPO price 921.40 million baht
In determining the IPO price, the price to earnings per share (Price to Earnings Ratio: P/E Ratio) is equal to 24.22 times, which is calculated from the net profit for the past 12 months (2023 period) divided by the number of common shares. issued and paid after this offering of shares (fully diluted) will have a net profit per share equal to 0.12 baht, with I V Global Securities Public Company Limited serving as the financial advisor and manager. Distribution and underwriting
Proofreading….Suree Silawong
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