บทวิเคราะห์ (Research)

In 2Q25, NSL reported core profit of THB164m (+25% yoy, and -4% qoq), driven by good sales growth of 26% yoy (to THB1.8b) from every product segment across the board. NSL’s OEM products for 7-11 stores contributed to 81% of revenues in this quarter. We maintain BUY, all estimates and TP THB37.