NAT closed the first day of trading at 6.90 baht, an increase of 1.50 baht (+27.78%), trading value 1,756.35 million baht from the opening price of 5.95 baht, the highest price of 6.90 baht, the lowest price of 5.60 baht.
TISCO Securities said that Nat Supreme Technologies Public Company Limited's (NAT) business is enjoying high growth coupled with high competition. The consulting and system installation business related to ICT systems is very competitive. Including there are a lot of related business operators. Each player is different in terms of service details. In addition, good relationships are built to maintain the existing customer base and create opportunities to expand new customer base.
However, this business still has high growth opportunities following the trend of change to the digital age becoming more important. The company's services meet service needs covering IT equipment infrastructure solutions. In addition, we are titanium partners (there are only 5 partners in Thailand) with Dell Technologies, as well as business alliances with many leading IT equipment and software manufacturers such as Genesys, VMware, Infoblox, Nokia and CyberArk, which has increased the company's competitiveness
Revenues in 2023 are expected to grow significantly year over year from increased sales revenue and system contract services revenue. According to the expansion in the number of new projects, total revenues from sales and services in the nine-month period of 2023 increased by approximately 90 percent year on year, while this is expected in the period 2024-2025 and the main income will continue to grow at a low rate in the period from 2022 to 2023, with management targeting income growth of no less than 30 percent annually, and the company’s products and services are in line with the trend of transition to the era of digital technology in the sector. The country gives importance
Net profit in 2023 is expected to rise year-on-year in line with revenue growth. At the same time, gross profit margin decreased year-on-year due to higher prices of electronic equipment and IT infrastructure equipment. Net profits are expected to expand in 2024-2025 following continued revenue growth from increased project work. Expanding the customer base to include the private sector. After listing on the stock exchange, the company's working capital will be able to support larger projects, but selling and administrative expenses are expected to rise in 2024 as the company plans to increase the number of employees to support growth.
Raising funds to expand the capacity to accept larger projects this time is appropriate. There are other factors that must be followed regarding diversifying the customer base to include the private sector. The increasing trend of using artificial intelligence in organizations, which will serve as a positive trend for the company's future income.
Important risks include 1) interruption of income 2) dependence on large customers 3) changes in technology
From an initial assessment that the average interest rate of similar business operators was 11-12 times, it emerged that the value was appropriate, similar to the IPO price.
NAT has a consulting services company, where it designs, purchases and sells equipment as well as installation. and system installation contractors related to ICT systems (ICT systems integration) by providing advice by a team with knowledge, capacity and experience in the IT field regarding suitable solutions. Which is in line with customer needs, including providing contract services for system maintenance. In addition, it also provides other ICT-related services, such as providing IT Outsourcing and document printer rental services. Computer notebook photocopier
By InfoQuest News Agency (February 15, 2024)
Tags: NAT, Thai stocks, NAT Absolute Technologies
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