MR.D.I.Y. Holding (Thailand) Public Company Limited (SET: MRDIYT) remains optimistic about its business outlook despite rising freight costs and weakening consumer purchasing power.
Participating at the Maybank Invest Thailand event, MRDIYT’s management, including its CEO and CFO, reassured around 20 investors that the company anticipates no supply disruptions due to its robust inventory coverage of approximately six months. The majority of MRDIYT’s products are sourced from China, where freight costs have remained manageable and account for just 0.6% of total sales, minimizing exposure to logistics cost volatility.
Although higher oil prices could dampen overall demand, MRDIYT is maintaining its earnings forecasts, with Maybank Securities reiterating a BUY rating and a target price of THB10.60. The company also reaffirmed its aggressive expansion plans, targeting 210 new stores each year for FY26 and FY27, focusing primarily on standalone outlets, which offer higher profitability due to lower rental costs compared to mall-based stores.
Despite some pressure on the average basket size from softer consumer sentiment, MRDIYT’s broad product range and value-for-money strategy continue to support demand among mass-market consumers. Cost efficiency remains a key strength, supported by centralized procurement across its network of over 5,000 global stores.
Maybank Securities forecasts MRDIYT to achieve a solid 23% year-on-year earnings growth in 1Q26, reaching THB668 million, mainly driven by continued store expansion and margin improvement. While same-store sales growth softened in early April, earnings for 2Q26 are projected to remain resilient thanks to the back-to-school season, the 2026 World Cup, and ongoing expansion. The FY26 earnings forecast stands at a robust 17% YoY growth.
