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Bangchak (ISIN TH0420010R18) reached a significant milestone in its sustainability journey, securing a second-runner-up award on October 2, 2026, for its 'Smart Circular UCO Ecosystem'. This recognition coincided with a major financial endorsement from Kiatnakin Phatra Securities (KKPS), which raised its target price for Bangchak stock from THB 44.60 to THB 69.70 on September 23, 2026, maintaining a 'Buy' recommendation.
The award-winning initiative focuses on a circular economy for Used Cooking Oil (UCO). During its commercial pilot phase conducted between March and June 2026, the project successfully collected 10,129 kilograms of UCO from six designated points. Beyond the environmental impact, Bangchak reported that the ecosystem streamlined operations, reducing logistics costs by as much as 26 percent. This project now serves as a quantified benchmark for the company’s future scaling of sustainable aviation fuel (SAF) production.
In tandem with these operational achievements, the company is preparing for a leadership transition. On September 17, 2026, the board approved Bundit Hansapaiboon as the next group chief executive and president, effective January 1, 2027. He will succeed Chaiwat Kovavisarach, whose term concludes at the end of 2026. This transition is expected to place refinery management and marketing leadership at the forefront of Bangchak's next strategic chapter.
Financial performance figures underscore the company's growth trajectory. Bangchak generated THB 176.55 billion in revenue during the second quarter of 2026, a substantial increase from THB 131.19 billion in the first quarter. Net income also saw a sharp rise, doubling from THB 6.14 billion to THB 12.24 billion over the same period. While the company remains sensitive to energy-price swings and refining margins, this sequential improvement provides a solid foundation for the upgraded analyst targets.
As of October 12, 2026, Bangchak’s market capitalization stood at THB 74.97 billion, with the stock trading within a 52-week range of THB 24.20 to THB 60.75. The integration of award-winning green technology with robust financial growth highlights Bangchak's evolving position in the regional energy and biofuels market.
Source: Ad-hoc-news.de