STAR PETROLEUM REFINING Plc. (SPRC): 1Q26E Profit Surged...
We expect 1Q26E net profit to grow strongly to Bt7.3bn, supported by a high GRM base, stock gains, and no hedging losses, making it likely the...
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STAR PETROLEUM REFINING Plc. (SPRC): Solid 4Q25-2025 Core Profit
We maintain our view of 2026–28E core profit growth at a 9% CAGR, driven by mid-cycle GRM and stable crude runs, supported by expansion into fuel...
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Star Petroleum Refining Plc. (SPRC): Strong 4Q25E–2025E Core Profit, NP Impacted By Stock Loss
We expect core profit to grow strongly YoY and QoQ in 4Q25E on a high-base GRM and well-managed OPEX, before easing QoQ in 1Q26E due to weaker...
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STAR PETROLEUM REFINING Plc. (SPRC): More Positive On Earnings As OPEX Pressure Eases
OPEX pressure should ease in 4Q25–1Q26E following the shift in maintenance allocation to 30% OPEX and 70% CAPEX (from 70%:30%).
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STAR PETROLEUM REFINING Plc. (SPRC): 3Q25 Beat On Strong Enterprise Sales Volumes ...
3Q25 earnings beat our/market estimates on strong enterprise sales volumes and margins. We maintain Outperform and lift 2026 FV to Bt5.70 (from...
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