Krungsri Securities (KSS) noted in its report regarding SISB Public Company Limited (SET: SISB), highlighting that the recent analyst meeting maintained a neutral tone for the company, with several key points regarding future plans and expectations mentioned.
Since the beginning of 2025 to date, SISB’s student enrollment stands steady at 4,620, in line with the figure seen at the end of 2024. The company has set a target for 2025 to increase the total number of students to 5,000, expecting an additional 380 new students.
Regarding revenue goal, SISB anticipates a growth exceeding 10% for 2025, compared to the previously estimated 11% year-on-year increase.
Despite the Rayong branch suffering a loss of approximately 30 million baht with an enrollment of 159 students in 2024, the company anticipates the number to increase to 220 this year, with net profit reaching a breakeven point.
Meanwhile, the Nonthaburi branch continues to exhibit improved net profit and remains a key growth driver for 2025.
Plans are underway for SISB to expand the Pracha Uthit branch Phase 3, adding 600 seats for secondary students to accommodate grade progression and capture new enrollment opportunities. This expansion is expected to be completed in the first quarter of 2026.
Additionally, the Pathum Thani Phase 1 (the seventh branch) will commercially commence with 1,000 seats, slated to open for student enrollment in August 2026. This factor is yet to be included in the current estimations.
As a result, KSS gives a ‘Buy’ recommendation for SISB, setting a target price of THB 35 per share.
