Ratch Group Q1 Revenue Soars 76% to 12,000M Baht, Profit Up 0.7%

MGR Online•Economy•16d ago

Reader Briefing

Ratch Group's first-quarter 2026 results show a significant 76.3% revenue increase to 12,321 million baht, driven by the integration of the Hinkong (HKP) co-generation power plant as a subsidiary, while net profit saw a modest 0.7% rise to 1,228 million baht.

•Ratch Group's Q1 2026 net profit was 1,228 million baht, up 0.7% year-on-year.
•Total revenue for Q1 2026 reached 12,321 million baht, a 76.3% increase from the previous year.
•The revenue growth is attributed to the recognition of Hinkong (HKP) co-generation power plant income as a subsidiary.
•Increased profit share from Nam Ngum 2 (NN2) and Theun-Hinboun (PNPC) hydropower plants also contributed to the results.

Overview

•Ratch Group's Q1 2026 financial results were reported.
•Ratch Group reported a net profit of 1,228 million baht for Q1 2026, an increase of 0.7% from the same period last year.
•Ratch Group's total revenue in Q1 2026 was 12,321 million baht, marking a 76.3% increase from the same period last year.
•Ratch Group's revenue increased due to recognizing income from the Hinkong (HKP) co-generation power plant following its transfer from joint venture to subsidiary status.
•The HKP plant's status changed to a subsidiary on October 1, 2025.
•Ratch Group recognized an increased profit share from the Nam Ngum 2 (NN2) and Theun-Hinboun (PNPC) hydropower plants.
•Despite the RG power plant ending its PPA with EGAT on October 30, 2025, Ratch Group maintained high readiness levels for major power plants like PE, HKP, and HPC.
•High power plant readiness levels are a result of efficient power plant maintenance.

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Key Entities

Organization

Ratch Group(ราช กรุ๊ป)ℹ️

A Thai energy company that reported its Q1 2026 financial results.

Ratch Group Public Company Limited(บริษัท ราช กรุ๊ป จำกัด (มหาชน))ℹ️

The official registered name of the energy company, Ratch Group.

RATCHℹ️

The stock ticker symbol for Ratch Group, used in financial reporting.

Hinkong (HKP) Co-generation Power Plant(โรงไฟฟ้าพลังความร้อนร่วม หินกอง (HKP))

A co-generation power plant whose financial results are now recognized as a subsidiary of Ratch Group.

Theun-Hinboun (PNPC) Hydropower Plant(โรงไฟฟ้าพลังน้ำ เซเปียน-เซน้ำน้อย (PNPC))

A hydropower plant contributing to Ratch Group's profit share.

Nam Ngum 2 (NN2) Hydropower Plant(โรงไฟฟ้าพลังน้ำ น้ำงึม2 (NN2))

A hydropower plant contributing to Ratch Group's profit share.

RG Power Plant(โรงไฟฟ้า RG)

A power plant whose Power Purchase Agreement (PPA) with EGAT has expired, impacting Ratch Group's revenue from this source.

EGAT(กฟผ.)ℹ️

The Electricity Generating Authority of Thailand, with whom the RG Power Plant's PPA has expired.

A major power plant part of Ratch Group, which maintained high readiness levels.

HPC

A major power plant part of Ratch Group, which maintained high readiness levels.

Person

Wadeerut Jaroenkupt(นางวดีรัตน์ เจริญคุปต์)

Chief Financial Officer of Ratch Group, who provided details on the company's financial performance.