i-Tail Corporation Public Company Limited, together with its subsidiaries, manufactures, imports, and distributes pet food products in Thailand, Asia, Oceania, the United States, Europe, and internationally. It operates in two segments: Pet Food and Other Businesses. The company offers wet and dry food products for cats and dogs; dog and cat treats; kidney-friendly cat and dog foods; and wet cat food products made from meat and seafood, such as tuna, shrimp, or salmon. It sells its products under the Bellotta, Marvo, ChangeTer, Calico Bay, and Paramount brands. The company was formerly known as Songkla Canning Public Company Limited and changed its name to i-Tail Corporation Public Company Limited in September 2021. The company was founded in 1981 and is headquartered in Bangkok, Thailand. i-Tail Corporation Public Company Limited is a subsidiary of Thai Union Group Public Company Limited.
Country
Sector
Themes
Also in
Price· split & dividend adjusted
No price history for this asset yet.
News & notes movingITC.BK
ITC.BK▲
Thai July exports grow 21.6%, beating forecasts; brokers highlight top stocks
The Ministry of Commerce reported that Thailand's export value in July 2026 stood at 34.8 billion US dollars, expanding 21.6% year-on-year, higher than the market's expectation of 17.8%. Meanwhile, imports for the same month were 38.4 billion US dollars, up 37.8%, lower than expected, resulting in a trade deficit of 3.61 billion US dollars, less than forecast. Products with good growth include rubber, processed chicken, pet food, processed canned seafood, and electronic goods. Stocks in these sectors, such as STA, GFPT, ITC, TU, DELTA, HANA, and KCE, benefit accordingly. In the first seven months of the year, exports totaled 232 billion US dollars, up 18.2%, while imports were 267 billion US dollars, up 37.8%, with a trade deficit of 35.4 billion US dollars. The Ministry of Commerce sees support from global demand for technology products and digital infrastructure, as well as accelerated imports to prepare for US trade policies. Meanwhile, brokers like Krungsri Securities and Phillip Securities view positively on export-related stocks and recommend top picks such as DELTA, HANA, KCE, AMATA, GULF, GPSC, KBANK, and KTB.
ITC shareholders approve 6 billion baht loan to Thai Union
Shareholders of i-Tail Corporation Public Company Limited, or ITC, approved lending to Thai Union Group Public Company Limited in an amount not exceeding 6 billion baht to manage surplus cash efficiently. At the Extraordinary General Meeting of Shareholders No. 1/2569 held on 24 August 2569, shareholders attending and entitled to vote, representing 93.7 percent, voted in favour of the transaction, exceeding the required approval threshold of not less than three-quarters under relevant rules. Thai Union, as an interested shareholder, was not entitled to vote on this agenda item. Mr Roy Chan, Chief Executive Officer of ITC, said the voting result reflects overwhelming shareholder support for the transaction and confidence in the company's surplus cash management approach. This transaction will help ITC generate better returns from surplus cash while maintaining sufficient liquidity for business operations and future expansion. The transaction terms also include measures to protect the interests of ITC and its shareholders, such as setting a maximum lending amount, allowing ITC to recall the loan when necessary, and regular reviews of the recall right by non-interested directors.
Bualuang Securities Picks 8 Stocks with Strong Third-Quarter Profit Growth
Bualuang Securities analyzed third-quarter 2026 profit trends, saying overall net profit and core profit are likely to expand compared with the same period last year, but are expected to slow from the previous quarter. Key support comes from Brent crude oil prices rising an average of 28 percent year on year, Singapore GRM refining margins surging 434 percent year on year, and wider petrochemical spreads for both HDPE and PET in the West, along with momentum from mobile and internet service revenue, electronics demand tied to the AI and data center cycle, and the recognition of new production capacity and overseas power plant profits at GULF. At the same time, higher jet fuel costs are pressuring airlines, and narrowing interest margins are weighing on the banking sector. Groups whose core profit grew year on year were led by energy, petrochemicals, construction materials, electronics, communications, and retail. Groups whose core profit fell year on year were led by transport and banking. Bualuang Securities recommends a selective investment strategy focused on stocks whose third-quarter profit trends are still expected to grow strongly, have not seen sharp profit downgrades over the past three months, and have clear positive factors supporting recovery. These include KCE, CBG, ITC, BH, BDMS, AOT, CENTEL, and GPSC.
Bualuang Sees Bright Q2/69 Profits, Led by IT Retail, Pet Food, and Tourism Recovery
Bualuang Securities revealed that net profits for the second quarter of 2069 for stocks under its coverage came in 5.6% above market expectations, with 48% of stocks beating estimates compared to a five-year average of 37%. Standout performers were led by SCC, up 41% from its petrochemical business, SCGP up 20% from packaging and recycling, KKP up 18% from non-interest income, and TU up 10.9% from seafood demand. Meanwhile, DELTA missed profit forecasts by 31% due to supply chain issues. The research team also noted positive signals from IT retail sales at COM7 and ADVICE, which grew 10% and 17% year-on-year in July. In the lifestyle segment, MOSHI saw same-store sales rise 9% on the squishy toy trend. Tourism continued to recover, with foreign arrivals in July reaching 2.5 million, and ERW's revenue per available room expected to grow both year-on-year and month-on-month. Export demand for food and pet food remained strong, with TU projecting 5-6% growth and ITC projecting 10% growth. The investment strategy therefore focuses on COM7, ADVICE, MOSHI, CPALL, ERW, TU, and ITC.
TU to receive over 1.4 billion baht in dividends from ITC and TFM
Thai Union Group, or TU, will receive interim dividends from two subsidiaries totaling over 1.4 billion baht. ITC is paying a dividend of 0.55 baht per share, with an XD date of August 11 and payment on August 26. TFM is paying 0.18 baht per share, with an XD date of August 13 and payment also on August 26. Based on TU's shareholding of 79.30 percent in ITC and 51.00 percent in TFM, it will receive approximately 1.308 billion baht from ITC and about 91 million baht from TFM, totaling over 1.4 billion baht. Meanwhile, TU's share price rose 4.27 percent in July, while ITC's share price increased 8.70 percent.
Japan cuts food consumption tax to 1%, boosting Thai exports GFPT, TU, ITC
Japan's cabinet has approved a reduction in the consumption tax on food and beverage items from 8% to 1% for a period of two years, starting April 2027. This marks the first such tax cut since the consumption tax system was introduced in 1989. The measure is part of a plan to ease the impact of inflation under Prime Minister Sanae Takaichi, aiming to reduce the cost of living and stimulate domestic spending. The government also plans to distribute cash handouts to low- and middle-income earners under a budget of approximately 600 billion yen per year, effectively bringing the real tax burden for the target group down to zero. Bualuang Securities stated that this measure provides significant support for consumption in Japan and benefits Thai food exporters, particularly GFPT through its subsidiaries GFN and McKey, which supply chicken parts to fast-food restaurants in Japan, as well as TU, which earns revenue from tuna products in the Japanese market, and ITC, an exporter of pet food to that market.
Bualuang highlights TU for short-term play, ITC for strong long-term growth
Bualuang Securities sees TU returning as a short-term standout after pressure from US import tariffs begins to ease and the fundamentals of its core business start to recover. The Ambient Seafood and Frozen Seafood segments, which account for 77% of first-half 2026 revenue, returned to growth of 2% and 5% year-on-year respectively, driven by recovering sales volumes. Meanwhile, the proportion of own-brand products rose to 59% of sales, lifting the first-half 2026 gross margin to 19.8% from 19.3% a year earlier. For the second half of 2026, TU is expected to be supported by still-strong US tuna demand, the exemption of tuna import duties in the UK from 26 June 2026, and a weaker baht. The research team has raised its 2026 earnings forecast for TU by 6%, projecting profit growth of 17%, with a dividend yield of around 6%. The stock trades at a 2027 price-to-earnings ratio of just 10.2 times. It therefore recommends rotating into the stock and has raised the target price to 15.60 baht from 13.60 baht. As for ITC, it remains a long-term growth stock, with earnings expected to grow 13% in 2026 and 12% in 2027, along with a dividend yield of around 6%. Although it trades at a 2027 price-to-earnings ratio of 14.2 times, which is considered a premium due to its superior structural business growth, the recommendation stays at buy, and the target price has been raised to 22.00 baht from 19.00 baht.
Broker sees SET Index potentially reaching 1,700 points in August, sets mid-2027 target at 1,710 points
Analysts at Finansia Syrus Securities assess that the SET Index in August 2026 has a chance to rise and test key resistance at 1,680 to 1,700 points, maintaining a positive view as long as the index holds above 1,580 to 1,600 points. They have also raised the index target to 1,710 points by mid-2027, based on an estimated average earnings per share of 100.5 baht and a target price-to-earnings ratio of 17 times. Second-quarter 2026 net profits of Thai listed companies are expected to decline 7% from the previous quarter and 10% from the same period last year, pressured by banking, energy, transport, and property sectors, while electronics, petrochemicals, packaging, and telecoms show better trends. Analysts also believe foreign fund inflows into the Thai stock market will continue, as foreign ownership excluding DELTA remains below past peaks. For the August strategy, they recommend selective investment in stocks with standout second-quarter 2026 results and bright second-half outlooks, highlighting picks such as BTG, ITC, MAGURO, SJWD, and STA.
ITC raises 2026 revenue growth target to 17-20% on US and European orders
I-Tail Corporation, or ITC, has raised its 2026 sales revenue growth target in US dollar terms to 17 to 20 percent, up from 9 to 12 percent, and in Thai baht terms to 14 to 17 percent, up from 8 to 11 percent, while maintaining its gross margin target at 23 to 25 percent. Chief Financial Officer Yuwaporn Phumprasert said the company is confident in its business outlook thanks to an expanding customer base, innovative product development, a higher proportion of premium pet food, and innovative product orders scheduled for delivery from the third and fourth quarters, which are the high season. The company also plans to invest around one billion baht to expand production capacity in line with customer demand and to support long-term growth. Key export markets such as the United States and Europe remain important drivers, while the global pet food industry is expected to grow at an average of 3.5 percent per year from 2026 to 2030, with the market value in 2026 forecast to rise to 154 billion US dollars.
ITC second-quarter profit surges 21% to 844 million baht, beating estimates; raises full-year revenue growth target to 20%
ITC shares rose 2% after the company reported second-quarter net profit for fiscal year 2026 of 844.09 million baht, up 21.3% from a year earlier and 7% above the average analyst forecast. Total sales revenue came in at 4.87 billion baht, an increase of 8.8% from the same period last year. For the first half of fiscal 2026, net profit reached 1.72 billion baht, up 25%, while total revenue was 10.04 billion baht, a 15.1% increase from the prior year. The board also approved an interim dividend of 0.55 baht per share, representing a payout ratio of 96.2%, with the ex-dividend date set for August 11, 2026, and payment on August 26, 2026. Citing strong operating results, ITC raised its full-year 2026 revenue growth target in US dollar terms to 17 to 20%, up from the previous range of 9 to 12%, while maintaining its gross margin target of 23 to 25% and selling and administrative expenses to sales ratio of 9 to 10%.
ITC Bright Through 2027, Strong Dividends, New Target 21.50 Baht
Yuanta Securities has upgraded ITC to a buy recommendation with a new target price of 21.50 baht, based on a 2027 price-to-earnings ratio of 17 times. The upgrade follows a 5 percent increase in normalized profit forecasts for 2026 and 2027 to 3.45 billion baht and 3.80 billion baht, respectively. The company has significantly raised its 2026 revenue growth target from 8 to 11 percent to 14 to 17 percent, while maintaining a gross profit margin range of 23 to 25 percent. Normalized profit for the second quarter of 2026 came in at 725 million baht, broadly in line with expectations. Although this represents a 16.2 percent decline from the previous quarter, it marks a 1.8 percent increase from the same period last year. The gross profit margin stood at 24.0 percent, slightly above forecasts, while total revenue of 4.87 billion baht fell 6 percent quarter-on-quarter and 9 percent year-on-year. Looking ahead to the second half of the year through 2027, normalized profit is expected to accelerate, potentially reaching 1 billion baht per quarter in the fourth quarter of 2026. In addition, ITC has declared an interim dividend of 0.55 baht per share, exceeding expectations, and has raised its full-year 2026 dividend estimate to 1.10 baht per share, representing a yield of 6.4 percent.
TU to receive 1.3 billion baht dividend from ITC at 0.55 baht per share
Thai Union Group Public Company Limited, or TU, will receive total dividends of approximately 1.31 billion baht after i-Tail Corporation Public Company Limited, or ITC, a subsidiary in which TU holds a 79.30% stake, announced an interim dividend payment of 0.55 baht per share, representing a payout ratio of 96.2% from first-half 2026 operating results. ITC reported sales of 10.04 billion baht, up 15.1% from the same period last year, and adjusted net profit of 1.96 billion baht, up 22.5%. The XD date is set for 11 August 2026, with dividend payment on 26 August 2026. The dividend will help strengthen TU's cash flow and financial position.
Thai exports in June 2026 grow 20.8%, beating forecasts, boosting ITC, AAI, GFPT, STA, DELTA
Thailand's exports in June 2026 expanded 20.8 percent from a year earlier, exceeding market expectations of around 15 percent, with a value of 34.6 billion dollars. Meanwhile, imports rose 50.3 percent to 41.1 billion dollars, resulting in a trade deficit of approximately 6.53 to 6.57 billion dollars. Key export growth drivers included pet food, which expanded for the tenth consecutive month, rising 22 percent, supporting ITC and AAI. Processed chicken grew for the seventh straight month, up 8.2 percent, boosting GFPT. Computers and components expanded for the 27th consecutive month, rising 57.4 percent, while phones, equipment, and components grew for the 13th straight month, surging 186 percent, benefiting electronic component stocks such as DELTA, HANA, and CCET. Rubber returned to growth for the first time in 14 months, supporting STA. On the risk side, new US tariff measures under Section 301 could affect some export stocks in the second half of the year.
IFA approves ITC lending 6 billion baht to TU to boost returns on surplus cash
The independent financial advisor, or IFA, has approved ITC Corporation lending to Thai Union Group, or TU, its major shareholder with an approximately 79.30% stake, a loan of up to 6 billion baht with a term of no more than five years and an annual interest rate of 2.50%. The purpose is to enhance the efficiency of surplus cash management and increase investment returns for ITC under an appropriate level of risk. The loan is unsecured and can be called early with 30 days' notice. The IFA views the transaction as reasonable and beneficial to ITC and will present it to the extraordinary general meeting of shareholders for approval on 24 August 2026.
Asia Plus says new US tariff measures to pressure Thai exports in second half
Asia Plus Securities' research unit says new US tariff measures under Section 301, one of the risks to Thai exports in the second half of the year, will slow exports because Thailand faces a 12.5% levy, higher than some ASEAN peers like the Philippines and Malaysia, potentially reducing competitiveness. Thailand also runs a growing surplus with the US, and markets must watch for surplus-production tariffs the US has yet to announce, which will pressure the Thai economy's export sector. Product groups hit by the 12.5% tariff include pet food, processed food, and beverages, covering stocks such as AAI, ITC, PLUS, TU, and COCOCO, as well as electronics, including HANA, DELTA, KCE, and CCET. Major Thai goods exempted from the 12.5% tariff are oil, gas, and fertiliser, which the US imports heavily, easing pressure on refinery and oil stocks like PTT, PTTEP, TOP, IRPC, and BCP, and goods already under Section 232, such as automobiles, steel, aluminium, and copper, which eases pressure on processed steel and steel pipe stocks like PAP, TMT, and SAM, and auto parts stocks like AH and SAT. The Commerce Ministry reported that Thai exports in June 2026 grew 20.8% year-on-year, above the market forecast of 15.2%, while imports rose 50.3%, above the 35.8% forecast, resulting in a trade deficit of 6.565 billion US dollars. Standout products included pet food, up 22.3%, expanding for a tenth straight month; rubber, up 12.5%, returning to growth for the first time in 14 months; and processed chicken, up 6.1%, expanding for a seventh consecutive month.
Phillip Securities says impact of US tariffs on Thai stocks limited, recommends monitoring animal feed and electronic components sectors
Phillip Securities assesses that the impact of the new US tariff wall on Thai stocks will be limited. Exempted goods include electronic components, communication equipment and devices, computer storage units, and other electronic devices, meaning stocks in the electronic components sector such as KCE, HANA, DELTA, and CCET will see minimal impact. Meanwhile, animal feed stocks like ITC and AAI may experience some effects. In a worst-case scenario, ITC's profit could decline by 240 million baht, or 7.1% from current levels, but the new base price of 18.02 baht still offers 5.88% upside from the current price. Thailand's trade figures for June 2026 continued to expand, with exports growing 8% year-on-year and imports rising 3% year-on-year.
Thai exports surge 20.8% in June, brokers highlight five stock groups set to benefit
The Trade Policy and Strategy Office of the Ministry of Commerce reported that Thai exports in June 2026 reached 34.66 billion dollars, up 20.8 percent from the same month last year, extending growth for a 24th consecutive month and exceeding market expectations of 13.7 to 15.2 percent. Meanwhile, imports totaled 41.19 billion dollars, rising 50.3 percent, resulting in a June trade deficit of 6.53 billion dollars. For the first half of the year, exports amounted to 196.74 billion dollars, up 17.6 percent, and imports reached 228.49 billion dollars, up 38.0 percent, leading to a cumulative trade deficit of 31.74 billion dollars. Analysts at Yuanta Securities noted that the stronger-than-expected exports and the deficit are factors weighing on the currency, and highlighted five stock groups poised to benefit: rubber, which returned to growth of 12.5 percent after 14 months, supporting STA, NER, and TEGH; processed chicken, supporting GFPT, TFG, and CPF; pet food, which continued to grow 22.3 percent for a tenth straight month, supporting ITC and AAI; canned seafood, which resumed expansion at 17.5 percent, supporting TU; and electronic components, which accelerated growth, supporting SMT, CCET, KCE, and HANA.
Phillip Securities says 12.5% US tariff has limited impact on Thai stocks, advises watching electronics
Phillip Securities stated that the US has announced a new round of tariff hikes under Section 301, with Thailand facing a rate of 12.5%, which is higher than the previous global tariff of 10% under Section 122 that expires today. This is seen as negative sentiment for the SET Index, especially for export-oriented stocks, but the impact is expected to be limited because many key Thai export items are likely to be exempted under Annex II, particularly in the electronics sector. These include communication equipment with export value of 11 billion dollars, computer storage units at 5.2 billion dollars, and portable computers at 4.2 billion dollars, out of Thailand's total exports to the US of 72 billion dollars. Meanwhile, the rubber, processed seafood, and pet food sectors are likely to be affected. The base case assessment is that it will impact ITC's net profit by only 120 million baht, reducing the 2026 base price from 19.40 baht per share to 18.70 baht per share. TU is similarly affected due to a smaller proportion of exports to the US. For the rubber sector, companies like NER, STA, TEGH, and TRUBB face negative sentiment from potentially lower domestic rubber demand if tire competition in the US market becomes more difficult.
ITC shares rose 5.52% to 17.20 baht after investors bought in on news that the weaker baht is supporting the export sector and the market eased concerns over the impact of lending to its parent company TU. This morning the baht moved in a range of 33.77 to 33.79 baht per dollar, compared with yesterday's close of 33.81 baht per dollar. Asia Plus Securities maintained a buy recommendation on ITC and TU with target prices of 18.90 baht and 13.20 baht respectively, noting that the lending case is unlikely to have an impact because it believes the company will allocate investment funds efficiently and can call for early repayment. The pullback in the share price therefore presents an investment opportunity.
Analysts say weak baht will boost second-half exports, recommend BTG and ITC stocks
Analysts assess that the baht is likely to continue weakening in the third quarter of 2026, with Krungsri expecting a trading range of 32 to 34 baht per US dollar and full-year exports possibly expanding by 9.8 percent. Meanwhile, analysts at Bualuang Securities view that the agricultural and food export sector will clearly recover in the second half of the year, with the weak second-quarter earnings caused by geopolitical factors and freight costs marking the low point of the year. They therefore recommend accumulating BTG as the top pick, followed by CPF and ITC in the pet food segment, which is supported by real demand and an expanding new customer base. TU, on the other hand, mainly benefits from foreign exchange gains only.
Krungsri Securities identifies 12 stocks set to benefit from the TISA scheme and the national fisheries management plan
Krungsri Securities disclosed that the latest progress on the Thailand Individual Savings Account, or TISA, scheme is currently in the final stage of study and condition revision, with clarity expected by September. Meanwhile, the proposal to raise the investment ceiling for tax deductions is still under review for suitability. The research team assesses that the scheme will be positive for the Thai stock market due to long-term fund inflows, with every 10 billion baht of new money supporting the index by 25 to 30 points. This will benefit large-cap stocks in investment themes such as GULF, GPSC, KBANK, KTB, ADVANC, AMATA, and WHA, as well as service-sector stocks like BDMS, BH, and AOT. Additionally, the approval of the five-year national fisheries management plan will help reduce trade barrier risks and enhance ESG credibility, positively impacting seafood and food export stocks such as TU and ITC.
Asia Plus Securities highlights four standout agriculture and food stocks for the second half, picks ITC and GFPT
Asia Plus Securities expects the combined normalised profit of four agriculture and food companies — CPF, GFPT, TU, and ITC — to reach 6.45 billion baht in the second quarter of 2026, flat from the previous quarter but down 53 percent from a year earlier. The outlook for the second half of 2026 is seen improving from the first half, driven by the onset of the export season in the third quarter, which is the high season for the sector, along with a likely weaker baht. The livestock segment, represented by CPF and GFPT, is expected to recover on better product prices, while the seafood and pet food segment, represented by TU and ITC, should see cost pressures gradually ease. The research team picks ITC as a top pick, citing second-half profit growth both half-on-half and year-on-year, and GFPT for its strongest second-quarter profit momentum among peers.