Risk factor
Very poor trading liquidity
Profitability factor
Greatly undervalued vs peers
About
Index International Group Public Company Limited, a Thai engineering consultancy founded in 1983 and headquartered in Pathumthani, offers an extensive range of specialized services covering all stages of project development. Their initial planning and analytical capabilities include creating master plans, conducting feasibility and socio-economic studies, performing topographic mapping, and delivering detailed financial, economic, and investment analyses. The company also focuses on environmental impact prevention planning. For project design, they provide comprehensive engineering and architectural services, encompassing preliminary and detailed design calculations, the generation of precise specifications, drawings, and bills of quantities, alongside the integration of geographic information systems (GIS). They also offer critical construction inputs to architects and engineers throughout the design phases. Beyond planning and design, Index International Group excels in project execution and oversight. This involves overall project management, robust construction supervision, and complete construction management for various project models, including turnkey, design-build, and concessionaire schemes. Furthermore, they manage contractual procedures for phased construction, offer procurement services for materials and equipment (including expediting, inspections, and shipping), and implement stringent schedule and quality control measures, in addition to value engineering services.
Company Valuation
Based on key historical and expected multiples, the stock is greatly undervalued relative to its peers. In particular, the stock is underpriced on P/E, 'cheap' on EV/EBIT