Osotspa, TH8752010018

Osotspa stock: Krungsri lifts 2026 profit outlook on margins

Published on 10/31/2026 at 01:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Osotspa stock gets a higher 2026 profit forecast as Krungsri cites stronger margins. The broker keeps Neutral and lifts its 2027 target price to THB 20.30.

Margin gains lift Osotspa outlook

Krungsri expects third-quarter net profit to rise year on year despite a seasonal quarterly decline.
Centralized production and tighter cost control are helping offset higher gas and packaging costs.
Fourth-quarter profit is expected to improve slightly on seasonal demand and production efficiency.

Osotspa, TH8752010018, Illustration mit AI erstellt.

Krungsri Securities has raised its profit outlook for Osotspa, citing stronger margins and tighter cost control. In a report published on Friday, October 30, 2026, the broker kept its Neutral rating and lifted its 2027 target price to THB 20.30 from THB 18.90.

Higher margins support earnings

Krungsri expects Osotspa to post third-quarter net profit of THB 900 million, up 29% from a year earlier but down 18% from the previous quarter. Excluding a THB 60 million gain from the sale of equipment at the Hua Mak site before a leaseback to CPAXT, normalized profit is projected at THB 840 million, 20% above the prior-year period.

The brokerage projects a gross margin of 40.3%, compared with 38.5% a year earlier and 42.8% in the second quarter. Higher gas and packaging costs remain a headwind, while centralized production and lower selling, general and administrative costs are expected to cushion the pressure. Krungsri's sales forecast is THB 5.7 billion, representing 2% year-on-year growth and a 7% quarterly decline.

International mix remains uneven

Domestic energy-drink sales are expected to rise slightly despite late-quarter logistics disruptions linked to flooding. Personal Care and Functional Drinks are identified as key growth areas.

International drinks revenue is expected to decline slightly because of tighter import rules in Myanmar and accounting changes. Excluding those effects, Krungsri expects international revenue to grow by 20% to 30% in Myanmar, Laos and Indonesia.

What investors should watch

Krungsri raised its 2026 normalized profit forecast to THB 3.9 billion, a 12% year-on-year increase, and expects profit to edge higher in the fourth quarter on seasonal revenue and improved production efficiency. The broker says the recent 10% share-price rally already reflects a strong third-quarter outlook, limiting potential upside and leaving removal from the SET50 Index in the December review as a risk.

Osotspa's consumer portfolio

Osotspa is a Thailand-based consumer-products company focused on products that support health and well-being. Its portfolio includes beverages, personal-care products, healthcare products and confectionery, with Thailand as its core market. The company describes itself as a leading consumer-products company in Thailand.