Yuanta Securities stated that Aurora Design Public Company Limited, or AURA, is likely to see a V-shaped recovery in profit in the third quarter of 2026, with preliminary net profit expected at 350 to 400 million baht, growing strongly both quarter-on-quarter and year-on-year. This is driven by the gold jewellery business, which continues to see large volumes of gold buying return from the second quarter, and the gold-for-cash business, which is expected to keep making new highs as the loan portfolio has already reached 10 billion baht. In addition, the issuance of bonds worth 3.5 billion baht this week helps accelerate portfolio expansion. If the gold price does not fall below 63,300 baht per baht-weight of gold, gross margin is expected to recover to a normal level of around 10 percent and could push net profit as high as 450 to 500 million baht. Yuanta Securities raised its profit forecasts for 2026 and 2027 by 13 percent to 1.678 billion baht and by 17 percent to 1.791 billion baht respectively, after raising revenue forecasts by 35 percent and 39 percent respectively, driven by higher sales volumes from branch expansion and an expected 5 percent rise in the gold price in 2027. It also raised its 2026 target price to 22.30 baht, implying upside of 53.8 percent, and increased its dividend per share forecast from 0.55 baht to 0.62 baht, representing a yield of 4.3 percent. The recommendation remains Buy.
Aurora Design PCLYuanta Securities raised profit forecasts and target price, citing strong gold jewellery and gold-for-cash business growth.
