RATCH shares dropped 4.46% to 37.50 baht after Krungsri Securities turned negative on second-quarter 2026 core profit of 1.3 billion baht, down 41% year-on-year and down 1% quarter-on-quarter. This leaves first-half profit at only 38% of the full-year 2026 estimate, due to weak profit contributions from Hongsa, Paiton, and renewable power plants. The broker cut its 2026-2028 profit forecasts by an average of 16% to 5.5, 7.0, and 8.5 billion baht respectively. It also expects third-quarter 2026 profit to decline year-on-year because of the Hongsa plant maintenance shutdown and weaker hydropower output. Krungsri Securities downgraded RATCH to Neutral with a 2027 target price of 40 baht.
Ratch Group Public Company LimitedKrungsri Securities downgraded RATCH to Neutral and cut 2026-2028 profit forecasts by 16% due to weak Q2 core profit and expected Q3 decline.
