Ichitan Group Public Company Limited (SET: ICHI) has delivered a robust performance for the first quarter of 2026, achieving a net profit of THB 286.6 million, which represents a 16.9% increase compared to the same period last year.
The company maintained a high Gross Profit margin of 24.1%, a notable improvement over the previous year despite a general slowdown in the Ready-to-Drink (RTD) tea market. Total sales revenue reached THB 1,928.8 million, marking a 10.5% year-on-year growth. This financial strength was further bolstered by the strategic utilization of BOI tax privileges, reinforcing the company’s trajectory toward its 12% annual revenue growth target for 2026.
Mr. Tan Passakornnatee, CEO of Ichitan Group PCL, attributed this success to the company’s focus on stringent cost management and ongoing negotiations with partners to preserve production capacity. By continuously integrating cutting-edge innovations to maximize operational efficiency, the management team remains committed to a prudent yet adaptive strategy that allows the company to thrive across all market conditions.
A primary catalyst for this quarter’s growth was the Non-Tea product group, which saw sales skyrocket by 79%. A significant standout was “pH Plus Ichitan Alkaline Water,” featuring Japan Technology, which experienced a phenomenal 226% leap in sales. This surge reflects the strong consumer response to the company’s “Accelerate Health Portfolio” strategy. To further expand its reach, ICHI is broadening its communication base by introducing top-tier brand ambassadors, Bright-Pitchayatan and Tor-Saksit. Currently, the Non-Tea segment contributes 14% to the total portfolio, and the company aims to increase this share to 17% of total sales by the end of this year.
In the B2B sector, the Ichitan OEM One-Stop Service continues to gain significant market traction. Leveraging its high-speed Aseptic Cold Filling Technology and a specialized R&D team that supports clients from “Idea to Shelf,” the company expects to onboard two major new partners within this year. Additionally, ICHI has partnered with Hon Chuan to establish a robust production base for future demand. The company’s international footprint also remains strong, with expansion into Malaysia and consistent profitability from Ichitan Indonesian operations.
Looking ahead to the second quarter, Ichitan Group is prepared to dominate the summer market amidst the El Niño weather pattern through its “15 Years of Ichitan” campaign. This initiative targets the younger demographic by featuring popular actors from the hit series “Khemjira The Series”—Keng Harit, Namping Napatsakorn, Tle Matimun, and Firstone Wannakorn—as new presenters. They will engage the mass market through the E-POP track “Sithim Kan Laeo Bo ICHITAN REMIX,” a genre currently resonating deeply with the target audience.
Furthermore, Ichitan Group is reinforcing its market leadership through a sophisticated Collaboration Strategy designed to create product differentiation. This includes “Ichitan x Jian Cha,” offering premium Chinese-style Camellia Oolong and Red Grape teas; “Yen Yen x Thai Coco,” a blend of herbal tea and coconut water; and “Ichitan x Kumamon,” featuring the unique Kumamoto Watermelon flavor. The company is also enhancing its premium Shizuoka tea line with the introduction of “Gyokuro First Flush” and “Hojicha Golden Roast” to cater to diverse consumer lifestyles and ensure sustainable, long-term growth for its shareholders.
