CMAN Reports 32% YoY Profit Surge for Q1 2026 Through Customer Portfolio Management – Tight Cost Controls – Greater Operating Efficiency – Expansion In Target Markets
M.L. Chandchutha Chandratat, Chairman of Chememan Public Company Limited (“CMAN”), a leading global producer of lime and specialty chemical products under the "CHEMEMAN" brand, disclosed that compared to the same period last year, total revenues from sales and services decreased 4.6% to THB 980 million, yet net profits attributable to CMAN shareholders increased 32% to THB 172 million.
The revenue decline was primarily due to lower average selling prices due to higher competition and the appreciation of the Thai Baht against various operating currencies. These impacts were partially offset by increased sales volumes to domestic sugar industry and international mining customers. CMAN achieved higher profitability through effective customer portfolio management, higher production uptime, and lower energy expenses. Consequently, the Gross Profit Margin improved to 41.4%, compared to 36% in the same quarter last year. CMAN’s financing costs decreased due to lower average interest rates and debt, while additional tax incentives reduced corporate income taxes, all of which contributed to higher net profits.
“The overall business situation in 2026 remains highly challenging with demand for lime products expected to remain flat or have limited growth. One of CMAN’s long-standing priorities is continuous process improvements and cost efficiency investments. For example, we now have 8.7 MW of solar power capacity in our Thai plants. This continuous focus ensures that CMAN can perform well even during an economic slowdown and downward price pressures.
CMAN has both short-term and medium-term (2-3 years) strategies to improve performance. The short-term plan focuses on further cost efficiency investments, such as purchasing additional electric trucks (“EV”) to transport raw materials and products to mitigate rising fuel costs, and tight controls on operating costs.
The medium-term plan focuses on expanding investments in strategic locations, namely India, Indonesia, and Australia; cultivating long-term relationships with strategic partners and key customers; and identifying further cost efficiency initiatives, including investments in alternative fuels, artificial intelligence, and other technologies to streamline workflows and improve the efficiency of production processes and services”
"CMAN has adopted a 'Strong Offense and Defense' strategy, combining greater efficiency with a larger business footprint. One of the key reasons behind the establishment of Gritsman Co., Ltd. is to focus on advanced technologies and development of greater STEM resources to manage a growing portfolio of assets in the Indo-Pacific region." M.L. Chandchutha added.
