Petchsrivichai Enterprise Public Company Limited (SET: PCE) reported a 10.6% year-over-year increase in third-quarter 2026 revenue to THB 7,742 million, while net profit rose 7% year-over-year to THB 102.4 million. Top-line expansion was spearheaded by robust domestic demand for biodiesel, which effectively offset localized raw-material supply constraints across the broader palm oil sector.
Key Financial Highlights
- Revenue from Sales and Services: THB 7,742.1 million (+10.6% YoY)
- Net Profit: THB 102.4 million (+7.1% YoY)
- Gross Profit Margin: 4.5% (up from 4.0% in 3Q25)
- Interim Dividend: THB 0.07 per share declared for 9M26 performance
PCE’s core sales revenue climbed 10.9% year-over-year to THB 7,674 million, accounting for 99.1% of total quarterly revenue, while service revenue contributed THB 68.1 million. The company’s refined biodiesel (B100) unit served as the primary growth engine, fueled by government B7 and B20 blending mandates that pushed nationwide B100 consumption up 48.1% year-over-year to 4.65 million liters per day. Higher average selling prices for crude palm oil (CPO), which rose 16.5% year-over-year to THB 40.31 per kilogram, provided additional tailwinds alongside refined bleached deodorized palm oil (RBDPO) sales.
Gross profit expanded 24.4% year-over-year to THB 350.0 million, pushing the gross profit margin up to 4.5% from 4.0% a year earlier due to an increased revenue mix of higher-margin B100. Sequentially, quarterly net profit contracted 52.2% from 2Q26 as elevated raw-material costs narrowed spreads. Earnings were further tempered by THB 41.5 million in non-cash mark-to-market derivative fair value losses on foreign exchange hedges, THB 6.5 million in foreign exchange losses, and an increase in finance costs to THB 11.7 million.
Basic earnings per share grew 8.4% year-over-year to THB 0.037. To secure raw material supplies for anticipated fourth-quarter deliveries, PCE scaled short-term bank borrowings to THB 4,314.6 million, funding an inventory expansion to THB 4,809.1 million and bringing the debt-to-equity ratio to 1.14x. Cash and cash equivalents closed the period at THB 194.0 million.
Supported by nine-month net profit growth of 25.3% to THB 323.3 million, the Board of Directors approved an interim cash dividend of THB 0.07 per share, payable on December 3, 2026. The ex-dividend date is November 24, 2026.
Management is actively fortifying its upstream raw-material security by expanding proprietary fresh fruit bunch collection yards and regional sourcing networks. Over the medium term, PCE aims to scale edible palm oil refining capacity and diversify into high-margin downstream markets, including oleochemicals and Premium Food Grade products.
