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Thakral Corporation Ltd
(SGX:AWI)
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Rating:62Neutral
Price Target:
S$2.00
â–˛(22.70% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by mixed financial quality—solid growth and strong reported profitability are undermined by persistently negative operating/free cash flow and recent EBIT weakness. Valuation is a major positive due to the extremely low P/E and strong dividend yield, while technical indicators are mixed to slightly weak, limiting near-term momentum support.
Positive Factors
Strong Revenue Scale-Up
Sustained top-line expansion indicates increasing business scale and market reach. If maintained, the larger revenue base can improve operating leverage and support future earnings, although the company must convert growth into reliable cash generation.
Negative Factors
Persistent Negative Cash Flow
Consistently negative operating and free cash flow indicates weak conversion of reported earnings into cash. Persistent working-capital demands or other cash uses could constrain reinvestment, dividends, and balance-sheet flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Scale-Up
Sustained top-line expansion indicates increasing business scale and market reach. If maintained, the larger revenue base can improve operating leverage and support future earnings, although the company must convert growth into reliable cash generation.
Read all positive factors
Thakral Corporation Ltd (AWI) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$249.42M
Dividend Yield5.18%
Average Volume (3M)30.89K
Price to Earnings (P/E)3.8
Beta (1Y)-0.14
Revenue Growth37.15%
EPS Growth-56.08%
CountrySG
Employees393
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)0.43
Shares Outstanding152,087,420
10 Day Avg. Volume7,460
30 Day Avg. Volume30,890
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.62
Price to Sales (P/S)0.49
P/FCF Ratio-17.22
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$2.22Price Target Upside36.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.15
Revenue Forecast (FY)S$474.70M
Thakral Corporation Ltd Business Overview & Revenue Model
Company Description
Thakral Corporation Ltd operates as an investment holding company with a global reach, primarily involved in the marketing and distribution of beauty, fragrance, and various lifestyle goods. Its extensive presence covers Singapore, India, the wide...
How the Company Makes Money
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Thakral Corporation Ltd Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 440.18M | 411.33M | 288.81M | 212.27M | 160.42M | 127.80M |
| Gross Profit | 99.15M | 108.79M | 54.16M | 45.90M | 39.22M | 27.86M |
| EBITDA | 35.78M | 60.04M | 50.50M | 32.50M | 40.12M | 43.81M |
| Net Income | 55.19M | 170.93M | 28.81M | 8.18M | 18.62M | 19.21M |
Balance Sheet | ||||||
| Total Assets | 719.31M | 603.66M | 359.51M | 328.99M | 348.87M | 349.39M |
| Cash, Cash Equivalents and Short-Term Investments | 38.88M | 32.35M | 11.28M | 12.78M | 39.46M | 25.65M |
| Total Debt | 160.32M | 81.95M | 71.77M | 61.42M | 51.36M | 61.28M |
| Total Liabilities | 301.60M | 231.33M | 143.74M | 128.23M | 120.57M | 116.50M |
| Stockholders Equity | 367.87M | 325.72M | 163.12M | 149.41M | 153.39M | 154.30M |
Cash Flow | ||||||
| Free Cash Flow | -28.66M | -11.75M | -11.73M | -16.30M | -11.07M | -14.39M |
| Operating Cash Flow | -27.09M | -9.81M | -11.00M | -14.91M | -10.78M | -14.02M |
| Investing Cash Flow | 3.65M | 34.24M | 15.06M | 10.88M | 40.13M | 19.56M |
| Financing Cash Flow | 53.87M | -6.64M | -2.85M | -3.41M | -18.50M | -1.54M |
Thakral Corporation Ltd Technical Analysis
Negative
1.63
Price Trends
1.73
Negative
1.82
Negative
1.75
Negative
Market Momentum
-0.03
Positive
40.30
Neutral
35.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:AWI, the sentiment is Negative. The current price of 1.63 is below the 20-day moving average (MA) of 1.69, below the 50-day MA of 1.73, and below the 200-day MA of 1.75, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 40.30 is Neutral, neither overbought nor oversold. The STOCH value of 35.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:AWI.
Thakral Corporation Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | S$1.80B | 9.96 | 17.57% | 2.15% | 15.08% | 32.76% | |
63 Neutral | S$383.45M | 19.81 | 2.33% | 1.26% | 5.22% | 297.06% | |
62 Neutral | S$249.42M | 3.81 | 15.91% | 5.18% | 37.15% | -56.08% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
49 Neutral | S$343.63M | -1.66 | -19.49% | 4.82% | -6.56% | 9.61% |
* Consumer Cyclical Sector Average
SG:AWI
Thakral Corporation Ltd
1.64
0.18
12.64%
SG:AGS
Hour Glass Ltd.
2.79
0.77
38.05%
SG:B28
Bonvests Holdings Limited
0.96
-0.05
-5.16%
SG:C41
Cortina Holdings Limited
4.03
0.66
19.41%
SG:M01
Metro Holdings Ltd
0.42
-0.03
-6.74%
SG:O9E
Parkson Retail Asia Limited
0.10
-0.04
-28.57%
Thakral Corporation Ltd Corporate Events
Thakral’s Lifestyle Growth Drives Strong 1Q Results Amid Market Volatility
Jun 3, 2026
Thakral reported strong 1Q2026 performance on an adjusted basis, with lifestyle-led revenue up 44.2 per cent and adjusted attributable profit more than doubling year on year. Growth was driven by robust demand in South Asia and Greater China, stab...
Thakral Corporation Shareholders Back Board Resolutions at 33rd AGM
May 29, 2026
Thakral Corporation held its 33rd annual general meeting in Singapore, where the board highlighted an exceptional year marked by strong operational performance and strategic initiatives to prepare the group for its next phase of growth. Management...
Thakral Shareholders Clear India Real Estate Push and S$93.9m TIL Acquisition
May 29, 2026
Shareholders of Thakral Corporation Ltd overwhelmingly approved the group’s expansion of its existing real estate operations into India at an extraordinary general meeting held in Singapore. The mandate authorises the company and its subsidi...
Thakral lifts stake in Gurugram healthcare-led project to 95.3% in S$93.9m deal
May 28, 2026
Thakral Corporation Ltd has completed the acquisition of an additional 81.6% stake in TIL Investments, lifting its ownership in a 21-acre mixed-use healthcare-led development in New Gurugram to 95.3%. The S$93.9 million deal, settled through S$50 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.