Company Summary
TSE THAI SOLAR ENERGY PUBLIC COMPANY LIMITED
Resources/Energy & Utilities
sSET
CG Report:   
 
  Data as of 16 Jun 2021  
Price (B.) 52 Week High/Low P/E (X) P/BV (X) Paid-up (MB.) Market Cap (MB.) EV (MB.) EBITDA (MB.) EV/EBITDA
3.02 3.24 / 2.34 10.36 1.07 2,117.72 6,395.50 18,661.75 392.21 13.17
News
Date/Time Subject
12 May 2021 17:09   Financial Statement Quarter 1/2021 (Reviewed)
12 May 2021 17:09   Financial Performance Quarter 1 (F45) (Reviewed)
12 May 2021 17:09   Management Discussion and Analysis Quarter 1 Ending 31 Mar 2021
20 Apr 2021 19:10   Publication of Minutes of Annual General Meeting of Shareholders for the year 2021, Questions - Answers on the Company's Website
07 Apr 2021 17:09   Resolutions of the Anual General Meeting of Shareholders for 2021
more

Company Profile
Address 725 Metropolis, 19th floor, Sukhumvit Road, KlongtanNua, Wattana Bangkok 10110
Telephone 0-2258-4530-3
Fax 0-2258-4534
URL http://www.thaisolarenergy.com
  Annual Report 2020
Establish Date 2008 Listed Date 30/10/2014
IPO Price (Baht) 3.90 @Par1.00 Baht
IPO Financial Advisory
  • BUALUANG SECURITIES PUBLIC COMPANY LIMITED
    		•
    Par 1.00 Baht
    Last Par Change N/A

    Market/Industry/Sector Change
    Effective Date 14/05/2019
    Previous Market/Industry/Sector mai  / Resources / Resources
    Current Market/Industry/Sector SET  / Resources / Energy & Utilities

    Business
    The Company operates in the business of production and distribution of electricity from solar and other renewable energy. It can be divided into 2 types which are Solar PV power plants and Biomass power plants and developing a Solar Floating system

    Free Float 11 Mar 2021 03 Jul 2020
    % /Shareholders
    39.72% 7,793 38.94% 7,160
    Foreign Shareholders 26.17% (As of 16/06/2021) Foreign Limit 49.00%
    NVDR Shareholders  1.63% (As of 16/06/2021)
    5 Yr Price Performance (Adjusted Price)
    Price Performance (Adjusted Price) Compare to Stock (%) Compare to Sector (%) Compare to Market (%)
    5 Days -1.95 -2.39 -1.86
    20 Days 6.34 1.66 1.41
    60 Days 20.80 17.50 16.28
    120 Days 12.69 7.02 2.79
    YTD 21.77 13.69 8.63
    P/E (X) 10.36 19.86 30.94
    P/BV (X) 1.07 1.64 1.78
    Turnover Ratio (%) 0.16 1.04 1.47

    Top 10 Major Shareholders(@11 Mar 2021) Share %
    1. P.M. Energy Co., LTD 783,034,150 36.98
    2. บริษัท ซิโน-ไทย เอ็นจีเนียริ่ง แอนด์ คอนสตรัคชั่น จำกัด (มหาชน) 190,575,000 9.00
    3. น.ส. แคทลีน มาลีนนท์ 184,620,000 8.72
    4. บริษัท เวฟ เอ็นเตอร์เทนเมนท์ จำกัด (มหาชน) 118,290,900 5.59
    5. CREDIT SUISSE AG, SINGAPORE BRANCH 76,247,946 3.60
    6. กองทุนเปิด บัวหลวงหุ้นระยะยาว 55,298,900 2.61
    7. CITI (NOMINEES) LIMITED-S.A PBG CLIENTS SG 39,900,000 1.88
    8. กองทุนเปิด บัวหลวงโครงสร้างพื้นฐานเพื่อการเลี้ยงชีพ 22,341,900 1.06
    9. กองทุนเปิด บัวหลวงหุ้นระยะยาว 75/25 20,319,200 0.96
    10. กองทุนเปิด บัวหลวงเฟล็กซิเบิ้ลเพื่อการเลี้ยงชีพ 13,528,600 0.64

    Management Position
    1. Miss CATHLEEN MALEENONT CHAIRMAN OF BOARD OF DIRECTORS / CHAIRMAN OF THE BOARD OF EXECUTIVE DIRECTORS / CHIEF EXECUTIVE OFFICER
    2. Mr. PROMMIN LERTSURIDEJ VICE CHAIRMAN / INDEPENDENT DIRECTOR
    3. Mr. SOMPHOP PROMPANAPITAK DIRECTOR
    4. Mrs. ANGKANEE RERKSIRISUK DIRECTOR
    5. Mr. MASTHAWIN CHARNVIRAKUL DIRECTOR
    6. MR. PALA SOOKAWESH INDEPENDENT DIRECTOR / AUDIT COMMITTEE
    7. Mr. ARAN APICHARI INDEPENDENT DIRECTOR
    8. Mr. PRASERT PATRADHILOK INDEPENDENT DIRECTOR / CHAIRMAN OF THE AUDIT COMMITTEE
    9. Mr. PRAPHAN SUBSAENG INDEPENDENT DIRECTOR / AUDIT COMMITTEE
    Accumulated: Turnover Ratio, Value Trade/Day
    Statistics YTD
    16 Jun 2021    		 2020
    30 Dec 2020    		 2019
    30 Dec 2019
    Listed share (M.) 2,117.72  2,117.72  2,117.72 
    Market Cap (MB.) 6,395.50  5,251.94  6,226.09 
    Price (B./share) 3.02  2.48  2.94 
    BVPS (B./Share) 2.83  2.88  2.64 
    P/BV (X) 1.07  0.86  1.24 
    P/E (X) 10.36  9.82  15.86 
    Turnover Ratio (%) 103.02  154.54  112.14 
    Value Trade/Day (MB.) 56.29  38.18  24.16 
    Beta 0.73  0.94  0.67 
     
    Rate of Return YTD  2020  2019 
    Price Change (%) 21.77  -15.65  41.35 
    Dividend Yield (%) 1.66  4.84  1.68 
    Payout Ratio 0.17  0.67  0.27 
    Dividend Policy Not less than 40% of net profits after deduction of income taxes and all other types of reserves in accordance with the laws and the Company?s Articles of Association

    Dividend
    Operation Period Dividend/Share Unit Payment Date Type
    01 Jan 2020 - 30 Sep 2020 0.05 Baht 08 Jan 2021 Cash
    01 Jan 2019 - 31 Dec 2019 0.12 Baht 20 Apr 2020 Cash
    01 Jan 2018 - 31 Dec 2018 0.055 Baht 21 May 2019 Cash
     
    Auditor
    (Effective Until 31/12/2021)
    MR. PISIT THANGTANAGUL/PRICEWATERHOUSE COOPERS ABAS LIMITED
    Ms. NUNTIKA LIMVIRIYALERS/PRICEWATERHOUSE COOPERS ABAS LIMITED
    Ms. THITINUN WAENKAEW/PRICEWATERHOUSE COOPERS ABAS LIMITED
    		F/S Year ended 31/12
    Latest Type of Report Unqualified opinion
    Financial Data
    Statement of Financial Position (MB.) 3M/2021 
    (01/01/21 
    -31/03/21)     		 3M/2020 
    (01/01/20 
    -31/03/20)     		 2020 
    (01/01/20 
    -31/12/20)     		 2019 
    (01/01/19 
    -31/12/19)     		 2018 
    (01/01/18 
    -31/12/18) 
    Cash And Cash Equivalents 675.59 712.37 883.25 643.59 561.02
    A/R Net 444.25 450.57 340.86 430.40 478.07
    Inventories 33.93 35.96 22.80 24.03 14.45
    Current Assets 1,550.03 1,616.76 1,654.42 1,641.47 1,462.16
    PP&E Net 9,956.99 8,298.44 10,344.12 7,549.86 6,928.08
    Non-Current Assets 17,380.40 15,338.62 17,522.36 14,228.52 13,227.07
    Total Assets 18,930.43 16,955.38 19,176.78 15,869.99 14,689.24
    OD 260.00 178.72 250.00 98.47 98.79
    A/P Net 167.20 418.53 254.29 199.27 278.45
    Current portion of LT 2,290.82 1,823.28 2,444.56 1,689.61 437.24
    Current Liabilities 2,777.55 2,473.13 3,050.66 2,025.35 2,882.47
    Non-Current Liabilities 10,162.31 8,665.39 10,206.79 8,212.31 6,892.15
    Total Liabilities 12,939.86 11,138.52 13,257.45 10,237.67 9,774.61
    Authorized Capital 2,477.47 2,477.47 2,477.47 2,477.47 2,450.25
    Paid-Up Capital 2,117.72 2,117.72 2,117.72 2,117.72 1,905.75
    Premium (Discount) on Share Capital 1,045.50 1,045.50 1,045.50 1,045.50 727.55
    Retained Earnings (Deficit) 3,174.67 2,663.09 2,972.10 2,938.09 2,271.20
    Treasury Stock - - - - -
    Shares Of The Company Held By Subsidiaries - - - - -
    Other Components Of Equity -349.30 -14.08 -218.02 -473.31 -134.12
     - Surplus (Deficits) - -73.89 -74.26 - -
    Shareholders' Equity 5,988.59 5,812.23 5,917.30 5,628.00 4,770.39
    Minority Interest 1.98 4.62 2.03 4.32 144.23
    more
    Statement of Comprehensive Income (MB.) 3M/2021 
    (01/01/21 
    -31/03/21)     		 3M/2020 
    (01/01/20 
    -31/03/20)     		 2020 
    (01/01/20 
    -31/12/20)     		 2019 
    (01/01/19 
    -31/12/19)     		 2018 
    (01/01/18 
    -31/12/18) 
    Revenue From Operations 371.40 371.06 1,530.45 1,348.89 561.37
    Other Income 1.98 4.71 12.51 92.72 156.19
    Total Revenues 373.38 375.77 1,542.96 1,441.61 717.56
    Costs 269.81 241.46 1,023.35 911.36 435.17
    Selling And Administrative Expenses 47.45 65.73 305.29 233.35 206.69
    Total Cost And Expenses 317.26 307.19 1,328.63 1,144.70 937.86
    EBITDA 392.21 157.94 1,183.15 1,292.46 546.93
    Depre. & Amor. 104.78 88.25 423.44 341.45 157.04
    EBIT 287.43 69.69 759.71 951.01 389.88
    Net Profit : Owners Of The Parent 202.56 6.53 421.43 774.58 173.95
    EPS (B.) 0.10 0.00 0.20 0.40 0.09
    more
    Statement of Cash Flow (MB.) 3M/2021 
    (01/01/21 
    -31/03/21)     		 3M/2020 
    (01/01/20 
    -31/03/20)     		 2020 
    (01/01/20 
    -31/12/20)     		 2019 
    (01/01/19 
    -31/12/19)     		 2018 
    (01/01/18 
    -31/12/18) 
    Operating Cash Flow -134.13 -104.48 560.85 693.08 -204.32
    Investing Cash Flow -85.07 37.02 -1,916.65 -765.40 -1,543.01
    Financing Cash Flow -93.23 -108.85 1,657.71 220.41 1,946.40
    Net Cash Flow -312.43 -176.31 301.91 148.09 199.07
    more
    Annualized: ROE, ROA
    Ratios 3M/2021  3M/2020  2020  2019 
    Current Ratio (X) 0.56 0.65 0.54 0.81
    ROE (%) 10.46 11.95 7.30 14.90
    ROA (%) 5.45 5.09 4.34 6.22
    D/E (X) 2.16 1.91 2.24 1.82
    Total Asset Turnover (X) 0.09 0.09 0.09 0.09
    Gross Profit Margin (%) 27.36 34.93 33.13 32.44
    EBIT Margin (%) 76.98 18.55 49.24 65.97
    Net Profit Margin (%) 54.24 1.73 27.14 55.41

    Information only PP, PO, XR and XD
    Capital Movement (Last 3 Year)
    Date CA Type Changed paid up share Paid up share Par
    15 Oct 2019 XR 44,240,615 1,949,990,195 1.00
    21 May 2018 XD 90,749,580 1,905,749,580 1.00

    Growth Rate (%) 3M/2021  3M/2020  2020  2019 
    Sales Growth 0.09 23.75 13.46 140.29
    COGs Growth 11.74 21.69 12.29 109.42
    Total Revenue Growth -0.64 22.37 7.03 100.90
    Total Expense Growth 3.28 15.87 16.07 22.05
    Net Profit Growth 3,001.59 -95.55 -45.59 345.28

    Annualized
    Cash Cycle 3M/2021  3M/2020  2020  2019 
    A/R Turnover (Times) 3.42 3.26 3.97 2.97
    Avg. Collection Period (Days) 106.68 111.98 91.97 122.91
    Inventory Turnover (Times) 30.10 38.02 43.70 47.37
    Avg. Inventory Period (Days) 12.13 9.60 8.35 7.71
    A/P Turnover (Times) 3.59 2.75 4.51 3.82
    Avg. Payment Period (Days) 101.64 132.90 80.89 95.66
    Cash Cycle (Days) 17.16 -11.32 19.44 34.96


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    Only Preferred Share and Warrants
    Other Securities
    Securities Name -

    Remark - Calculated from adjusted price
      - Presented and calculated from the consolidated statement and displayed as cumulative quarterly statement by fiscal year (Company statement will be presented and calculated incase consolidated statement is not available.)
      - The information is quarterly updated within 7 business days after the new financial statement is submitted.
      -
         		 Information on the financial statements is presented according to the information that the listed companies submit on that period. The investors should study additional information from the companies' financial statements since some companies may restate the comparing financial statements on the latest financial statements.
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