Check Before You Invest : Indo Thai Securities Ltd

Q: Which industry/sub-sector does Indo Thai Securities Ltd belong to?

Indo Thai Securities Ltd belongs to the BFSI sector, operating specifically within the Finance - Investment segment.

Q: Is Indo Thai Securities Ltd a good quality company?

Indo Thai Securities Ltd is a average quality company, based on a somewhat consistent multi-year financial track record. This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare with its long-term averages.

Q: Is Indo Thai Securities Ltd undervalued or overvalued?

Indo Thai Securities Ltd appears Overvalued, as its key valuation ratios are higher than their past averages. Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more. Valuation Ratios. Price to Earnings, Current: 52.05, Historic Median: 57.15. Price to Book, Current: 12.31, Historic Median: 4.66. Price to Sales, Current: 33.74, Historic Median: 15.14. EV to EBITDA, Current: 38.56, Historic Median: 45.14

Q: Is Indo Thai Securities Ltd a good buy now?

Indo Thai Securities Ltd is a neutral opportunity now, based on stable price trend analysis suggesting prices may move sideways. However, you need to check its quality and valuation before making a decision

Q: Total Income growth of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Operating Income growth is -13.88% for FY-2025, which is below its 5-year CAGR of 23.29%, indicating slower growth.

Q: Return on Assets of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Return on Asset is 5.5%, which is below its 5-year historical median of 11.2%, indicating deteriorated earnings on assets. Efficiency & Key Metrics. NPM (%), Current: 34.11, Historic Median: 47.09. PPOP (%), Current: -40.91, Historic Median: -23.53. RoA (%), Current: 5.5, Historic Median: 11.2

Q: Return on Equity (ROE) of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Return on Equity is 7.9% for FY-2025, which is below its 5-year historical median of 17.7%, indicating the business is making worse use of its shareholders capital.

Q: Pre-provisioning operating profit margin of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Pre-provisioning operating profit margin, which is the bank’s core operating profit before provisioning for bad loans, is -40.91% for FY-2025, which is below its 5-year median(-23.53%), indicating decreasing margins.

Q: Net Profit Margin of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Net Profit Margin, which is the difference between the rate of interest earned on assets and the rate of interest paid on liabilities, is 34.11% for FY-2025, which is below its 5-year median( 47.09%), indicating decreasing margins.

Q: Does its ROIC exceed its WACC?

Indo Thai Securities Ltd return on invested capital (ROIC) is 7.66% for FY-2025, is lower than its estimated weighted average cost of capital (WACC) of 14%, indicating value erosion.

Check Before You Invest : Indo Thai Securities Ltd

Snapshot

Q.1 Which industry/sub-sector does Indo Thai Securities Ltd belong to?

Indo Thai Securities Ltd belongs to the BFSI sector, operating specifically within the Finance - Investment segment.

Q.2 Is Indo Thai Securities Ltd a good quality company?

Indo Thai Securities Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare with its long-term averages.

Q.3 Is Indo Thai Securities Ltd undervalued or overvalued?

Indo Thai Securities Ltd appears Overvalued, as its key valuation ratios are higher than their past averages.

Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more.

Valuation Ratios	Current	5-year Historic Median
Price to Earnings	52.05	57.15
Price to Book	12.31	4.66
Price to Sales	33.74	15.14
EV to EBITDA	38.56	45.14

Q.4 Is Indo Thai Securities Ltd a good buy now?

Indo Thai Securities Ltd is a neutral opportunity now, based on stable price trend analysis suggesting prices may move sideways. However, you need to check its quality and valuation before making a decision

Performance Analysis

We have analysed the performance of the company on the following:

How has it performed on generating Profits?
By checking its Total Income growth, NPM, PPOP, RoA and RoE compared to its last 5-year median.
How efficiently has it grown and managed operations?
By checking its Total Asset growth.
How strong is its Capital position and Asset Quality?
By checking its Capital Adequacy Ratio (CAR), GNPA and NNPA.

A: What are the trends in income and profitability?

Q.1 Total Income growth of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Operating Income growth is -13.88% for FY-2025, which is below its 5-year CAGR of 23.29%, indicating slower growth.

Q.2 Return on Assets of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Return on Asset is 5.5%, which is below its 5-year historical median of 11.2%, indicating deteriorated earnings on assets.

	Current Level	5-year Historic Median
NPM (%)	34.11	47.09
PPOP (%)	-40.91	-23.53
RoA (%)	5.5	11.2

Q.3 Return on Equity (ROE) of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Return on Equity is 7.9% for FY-2025, which is below its 5-year historical median of 17.7%, indicating the business is making worse use of its shareholders capital.

Q.4 Pre-provisioning operating profit margin of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Pre-provisioning operating profit margin, which is the bank’s core operating profit before provisioning for bad loans, is -40.91% for FY-2025, which is below its 5-year median(-23.53%), indicating decreasing margins.

Q.5 Net Profit Margin of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Net Profit Margin, which is the difference between the rate of interest earned on assets and the rate of interest paid on liabilities, is 34.11% for FY-2025, which is below its 5-year median( 47.09%), indicating decreasing margins.

Q.6 Does its ROIC exceed its WACC?

Indo Thai Securities Ltd return on invested capital (ROIC) is 7.66% for FY-2025, is lower than its estimated weighted average cost of capital (WACC) of 14%, indicating value erosion.

B: Does the bank grow efficiently and manage its operating costs?

Q.7 Total Asset growth of Indo Thai Securities Ltd?

Indo Thai Securities Ltd Total Asset growth is 93.86% for FY-2025, which is above its 5-year CAGR of 28.53%, indicating faster growth.

Ownership & governance

D: Promoter shareholding and pledge status of Indo Thai Securities Ltd?

Q.1 Promoter shareholding and pledge status of Indo Thai Securities Ltd?

Promoters hold 56.51% of the Indo Thai Securities Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Peer comparison (industry-wise, mcap)

E: How does Indo Thai Securities Ltd performance compare with that of its Peers?

Q.1 AUM Growth of Indo Thai Securities Ltd vs Industry Peers?

Indo Thai Securities Ltd AUM CAGR is 28.53%, compared to the 5-year industry median CAGR of 9.27%, indicating faster growth and gaining its market share.

Q.2 Profit metrics (NPM, PPOP, RoA) of Indo Thai Securities Ltd vs industry peers

Indo Thai Securities Ltd profit metrics are in line with the industry median level of -1.27%, indicating similar profitability compared to peers.

Profit Metrics

	Current Level	5-year Industry Median
NPM (%)	34.11	3.12
PPOP (%)	-40.91	-7.72
RoA (%)	5.5	0.8

Q.3 Operating efficiency of Indo Thai Securities Ltd vs industry peers?

Indo Thai Securities Ltd ROCE (21.4) is above the industry median of (1.8); while the current ROE (17.7) are above than the 5-year average Industry ROE (0.9). This shows that the business is positioned in the top quartile of the industry.

Operating Efficiency

	Current Level	5-year Industry Median
NPM (%)	34.11	3.12
PPOP (%)	-40.91	-7.72
RoA (%)	5.5	0.8
ROCE (%)	10	1.8
ROE (%)	7.9	0.9

Valuation & price assessment

Q.1 Stock return of Indo Thai Securities Ltd over the last decade?

Over the last 9 years, the stock has delivered a CAGR of 59.4% based on the current price.

	9Y	5Y	3Y	1Y
Share Price CAGR	59.4%	119.5%	112%	47.1%

Q.2 How do the current valuation ratios compare with 5-year historical median and industry numbers?

Valuation Ratios	Current	5-year Historic Median	5-year Industry Median
Price to Earnings	52.05	57.15	33.75
Price to Book	12.31	4.66	0.95
Price to Sales	33.74	15.14	12.43
EV to EBITDA	38.56	45.14	10.00

Q.3 Valuation ratios of Indo Thai Securities Ltd vs historical and industry averages?

The current Price-to-Book (P/B) ratio of 12.31 is higher than its historical median of 4.66, indicating that the stock is trading above its historical average valuation.

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Check Before You Invest : Indo Thai Securities Ltd

Snapshot

Performance Analysis

Ownership & governance

Peer comparison (industry-wise, mcap)

Profit Metrics

Operating Efficiency

Valuation & price assessment

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Check trending companies

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