Risk factor
Very high price volatility
Profitability factor
Undervalued vs peers
About
TPI Polene Public Company Limited, established in Bangkok, Thailand in 1987, operates as a diversified industrial enterprise with a significant footprint across Thailand, China, Bangladesh, and other international territories. The company's comprehensive operations are structured into four primary segments: Construction Materials, Petrochemical & Chemicals, Energy & Utilities, and Agriculture. Within its Construction Materials division, TPI Polene manufactures and distributes a wide spectrum of products, encompassing various types of cement (including Portland, mixed, masonry, hydraulic, and oil well), an extensive range of fiber cement items such as roof tiles, wood substitutes, and specialized boards, along with concrete roof and wall/floor tiles. This segment also provides an array of dry mortars, ready-mixed concrete, tile grout, and building blocks. The Petrochemical & Chemicals segment focuses on producing low-density polyethylene and ethylene vinyl acetate copolymer resins, in addition to industrial chemicals like nitric acids and ammonium nitrate. In the Energy & Utilities sector, the company is involved in distributing fuels such as gasoline, diesel, and natural gas, manufacturing refuse-derived fuel and organic waste, and generating and supplying electricity. The Agriculture division is dedicated to creating organic fertilizers suitable for aquatic life, livestock, and plant cultivation. Beyond these core areas, TPI Polene also engages in diverse ancillary businesses, including retailing, petroleum exploration, property development, international trade (export and import), and construction projects. Its product offerings further extend to various paints, soaps and cleaning detergents, and drinking water.
Company Valuation
From both historical and forecast perspectives, the stock is underpriced compared to similar stocks. Specifically, the stock is 'cheap' on P/E, neutral on EV/EBITD.