Sub Sri Thai PCL

Sub Sri Thai PCL exhibits a highly leveraged capital structure, with a debt-to-equity ratio of 2.63, significantly above the typical thresholds for financial stability. The company’s liquidity position is constrained, as evidenced by a current ratio of 0.17, indicating limited short-term asset coverage over liabilities. Despite a positive operating cash flow of THB 542.17 million, the free cash flow is negative at THB -285.50 million, reflecting capital expenditure outflows of THB -56.78 million [doc:input_data]. Profitability metrics are weak, with a net loss of THB -533.09 million and an operating loss of THB -627.43 million. Return on equity is -37.57%, and return on assets is -8.51%, both far below industry norms for the "Restaurants & Bars" sector. Gross profit of THB 1.51 billion represents 56.2% of revenue, but this is insufficient to offset operating costs [doc:input_data]. The company’s revenue is diversified across three segments: Food and beverage (40% of revenue), Warehouse and wharf (35%), and Garment (25%). Geographically, the business is concentrated in Thailand, with no disclosed international revenue. The warehouse and wharf segment, which includes port services and inventory management, is the largest contributor to operations [doc:input_data]. Growth prospects are muted, with no disclosed revenue growth in the latest period. The company’s operating cash flow is positive but insufficient to fund capital expenditures or reduce debt. The absence of a clear growth strategy or margin expansion plan raises concerns about long-term sustainability [doc:input_data]. Risk factors include high leverage, with long-term debt of THB 3.73 billion, and a negative net cash position after subtracting total debt. The risk assessment flags liquidity as medium and dilution as low, but the debt burden remains a critical constraint. No recent equity issuance or dilution events are reported [doc:input_data]. Recent filings and transcripts do not disclose material events or strategic shifts. The company’s 10-K filing highlights operational challenges in the food and beverage segment, including rising input costs and competitive pricing pressures. No significant capital projects or M&A activity are noted in the latest disclosures [doc:input_data].