Narumon Ekasamut

Bualuang Securities

Equity Research Analyst @ Bualuang Securities

Narumon has 17 years of equity analysis experience covering consumer sector in Thailand including various sub-sectors of Food, Healthcare, Retail, Tourism and Property. Before equity analyst, she worked in credit risk department of Bangkok Bank. Narumon holds a Master Degree in Finance (International program) and Bachelor in Finance from Thammasat University.

Narumon Ekasamut
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Latest articles from Narumon Ekasamut

Bangkok Dusit Medical Services PCL: Best play for the long haul

We estimate a core profit of Bt1.5bn for 2Q21, up by 229% YoY and 13% QoQ (following five straight quarters of YoY declines). Healthcare revenue should be posted about Bt17bn, up by 25% YoY and 7% QoQ. We expect core margin to have recovered from 3.3...
Bualuang Securities Narumon
Narumon Ekasamut @ Bualuang Securities 4 August 2021

Siam Global House PCL: Positive surprise in record 2Q21 result: prompt earnings upgrade

Beat all estimates. GLOBAL reported all-time high core profit of Bt972m in 2Q21. Impressive profits were driven by sales and margins.
Bualuang Securities Narumon
Narumon Ekasamut @ Bualuang Securities 2 August 2021

Thailand (Bualuang): Food restaurant - Fishing for the Covid survivors

Despite uncertainty over the rebound’s timeframe, we have great confidence that leading restaurants, M and AU, will survive the crisis. We have rolled investment to YE22 target prices of Bt60 for M (DCF, 7.3% WACC), and Bt12 for AU (target PER of 75x...
Bualuang Securities Narumon
Narumon Ekasamut @ Bualuang Securities 2 August 2021

Home Product Center PCL: Strong 2Q21 result lines up, but weaker outlook in 3Q21

In line. HMPRO reported a core profit of Bt1.43bn for 2Q21. Strong earnings were thanks to revenue growth.
Bualuang Securities Narumon
Narumon Ekasamut @ Bualuang Securities 29 July 2021

TOA Paint Thailand PCL: Strong earnings say it all

The third-best quarterly result to be posted in 2Q21. Easing margins pressure in 2H21. Strong financial status.
Bualuang Securities Narumon
Narumon Ekasamut @ Bualuang Securities 22 July 2021

Supalai PCL: Earnings growth leader

Bualuang Securities Narumon
Narumon Ekasamut @ Bualuang Securities 20 July 2021

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