ICHI targets 1.5 billion baht in premium fertilizer revenue within 3 years

Corporate ActionAnalyst
โดย สำนักข่าวอีไฟแนนซ์ไทย·TH·Read original
Summary · why it matters

ICHI has announced a revenue target of 1.5 billion baht from its premium fertilizer business within three years, following a joint venture with the Eakayongwong Group to establish Tan Fertilizer with a registered capital of 150 million baht. ICHI holds a 51% stake, while the Eakayongwong Group holds 49%. Full operations are expected to commence in May 2027, with the transfer of the Rampatec premium fertilizer brand, which currently generates annual sales of approximately 70 million baht. The company plans to expand into agricultural innovations such as amino-coated fertilizers and slow-release fertilizers. Thailand's chemical fertilizer market is valued at over 80 billion baht per year, while the Compound NPK fertilizer market, a premium segment, is worth approximately 32 billion baht. Asia Plus Securities views the investment as not impacting 2026-2027 profits, maintaining a "Buy" recommendation with a target price of 15.80 baht per share.

Impact on stocks 2

Consumer Staples▲ · 1 stocks
Ichitan Group Public Company Limited
ICHI
▲ PositiveCapitalrelevance

ICHI forms a JV (51% stake) with Eakayongwong Group to launch Tan Fertilizer, targeting 1.5 billion baht in premium fertilizer revenue within three years.

Financials▲ · 1 stocks
Asia Plus Group Holdings PCL
ASP
± MixedCapitalrelevance

Asia Plus Securities maintains a Buy rating and 15.80 baht target on ICHI, noting the JV won't affect 2026-2027 profits; only a passing analyst mention.

Off-coverage companies 1

Tan Fertilizer Company LimitedPrivate▲ Positive
Capitalrelevance

Tan Fertilizer is the newly established JV (150 million baht capital) that will take over the Rampatec premium fertilizer brand and expand into agricultural innovations.

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