52

1.

1.1

1.1.1 2556

2556 2

1.1:

1.2:

1.1.2 2557

2556

700 .

1. 2. CLM ( . )

1.2

() .

1.2.1 Five Forces Model

1.2.1.1 (Rivalry)

() () . () () ITD

1.2.1.2 (New Entrant)

1.2.1.3 (Customer)

2

ITD

1.2.1.4 (Supplier)

1.2.1.5 (Substitution)

1.3

1.3.1 () 2034/132-162 10310 0107537000939 0-2716-1600 0-2716-1488 http://www.itd.co.th cccs@itd.co.th 5,781,149,452 4,860,473,010 4,860,473,010 1.00 () 62 10110 0-2359-1200-1 0-2359-1262-3 3322 / 4575 / 6977 / 6624

87/1 18 103300-2654-33300-2654-3339 , 540 22 0-2264-8000 0-2657-22221.3.2 1.3: ()

: ()

.. 2497 . () ( ) ( ) 15 .. 2501 2 .. 2537 2,500 5,871.15 4,860.47

.. 2524 ..2540 () 16 ..2545 31 ..2546 18,330 ..2546 7,896 39,971

- - - - - -

15,858 1,024 ( .. .. 2546)

1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

-. -. -. -. -. -. -. -. 45 1,300 5

1.3.3

1.4: .. 2542 23 . 12 . 50 . 25 10,000 .. ISO 9002

1.5:

() 5.7 . 10.5 . 9 8 Earth Pressure Balance 20 . 6 40,000

.. 2546 186,500 .. 2- 14 6

()( 2540 2546) 9 5.7 . 10.5 . ()( 2537 2543) 23.5 . 25

1.6: 25 . .. 2506 45 () .. 2548 - ()- ()- - - - - -

, 2 3 ( 2544 2547) 176,000 .. - 1,350 . - 932 . 384,000 .

1.7:

- - - - - 50 - - - - - - - - - - - -

1.8: 1.9:

1.10:

1,000 . 127 . 50 . 7 . 300

30 7 30 .

1.11:

.. 2506

.. 2534 193.5 .

25,000 77,500 ..

- 2,500 .- 38.8 .- 500 .- () 148 .- 40 .- 210 .

- 342.7 .- 27.3 .- 15 - 20 1 ( 1,490 .)

1.12:

.. 2517 500 .. 10 .. 2519 40 .. .. 2526 400 .

- - - NH 2 - - - - -

1.13: 2 7 (.. 2543 - .. 2546)

36 .

1.14: C295 (.. 2543 - .. 2547)

27.3 .

1.15:

() 30 .. 2541 .. 2543 5 38

5 (.) ( 2543 - 2552)

225 38 47

1.16: .

1.17 : .

1.18:

- - -- -- - - - 45

1.19:

1500 ..

600 .. 100 .. (.) 450 .. 74 ..

900 .. 2 1,200 . 26,000 .. 3,240 .

3 800,000 .. / 1 1.2 .. / 2 400,000 .. /

1.20:

2 30 110 30,000

------- ---- ---

70 700

1.21: 17 ( ) 1,500,000

- 1,500,000 ()- 800,000 . ()- . ()- , - 1800 - ()

1.22:

20,000,000 - NPCX 5

- - - - - - - - , , ,

1.3.4

.

() 120,000 45 , , , ,

110 . .. 2536 ISO 9001 .. 2540 ISO 14001 .. 2544 OHSAS 18001 TIS 18001 .. 2551

1.3.5 1.3.5.1 1.23:

1.3.5.2 1.24:

1.3.5.3

1.25: ()1)

() 1 23.87 2555 35.54 2556 44,902 43,995 907 31 2556 94,104 31 2555 86,283 31 2556 89.07 54.31 31 2556 25 2557 2,752 179,678 25 2557 276,534

2)

1.26:

2556 43,913 2555 2,378 5.14

1.27: 2556 2556 39,258 2555 1,907 4.63

1.28:

2556 4,655 2555 5,126 2556 10.60 2555 11.07

1.29:

2556 195 2555 75 62.33 2556 162

1.30:

2556 580 2555 59 11.37

1.31:

2556 2,018 2555 443 18.01

1.32: ()

()

2556 131 2555 510 125.70 2556

1.33:

2556 162 2555 34 17.14

1.34:

2556 22 2555 15 202.41

1.35:

2556 2,204 2555 82 3.57

1.36:

2556 336 2555 124 58.65

1.37: ()

()

2556 907 2555 773 575.67

3)

1.38:

1.

2556 65,151 2555 6,168 10.46 2556 35,414 2555 1,987 5.94 - 2556 29,737 2555 4,181 16.36

- 31 2556 7,971 965 - 7,007 2555 356 4.84 5 -

12 31 2556 2,536 386 17.96

4) 1.39:

2556 5,541 - 2556 4,715

(Project Finance)

2556 2555 1.00 1.06 2556 2555 0.32 0.37

5)

6)

6.1) 1) 2)

31 2556 31 2555 8,358 9,579 3,872 4,651

6.2)

1) 2)

31 2556 31 2555 17,500 17,294

6.3)

31 2556 31 2555 42,187 29,813

31 2556 31 2555 3,803 3,066 ( ITD Cementation India Limited )

6.4)

31 2556 31 2555 2.17 2.84 31 2555 2 30 2555 2555

1.3.6 SWOT

S: Strengths () - - - - - -

W: Weaknesses ()- - - -

O: Opportunities ()- - .

T: Threats ()- - -

2

2.1 (Relative Method)

2.1.1 (Price to Earnings Ratio :P/E Ratio)

2.1: P/E Ratio

P/E Ratio P/E Ratio P/E Ratio (Benchmark P/E) P/E P/E P/E

2.1.2 (Price to Book Value : P/BV Ratio)

2.2: P/BV Ratio

P/E Ratio P/BV Ratio P/BV Ratio (Benchmark P/BV) P/BV P/BV P/BV

(Intrinsic Value) (Market Price) Overvalue UndervalueOvervalue Undervalue

1 P/E Ratio P/BV Ratio ITD CK 20 .. 2557P/E Ratio ()P/BV Ratio ()

ITD38.143

CK19.552.36

P/E Ratio ITD 38.14 CK 19.55 Overvalue P/BV Ratio ITD 3 CK 2.36 Overvalue

2 P/E Ratio P/BV Ratio ITD CK 21 .. 2557P/E Ratio ()P/BV Ratio ()

ITD41.473.24

CK20.102.43

P/E Ratio ITD 41.47 CK 20.10 Overvalue P/BV Ratio ITD 3.24 CK 2.43 Overvalue

3 P/E Ratio P/BV Ratio ITD CK 24 .. 2557 P/E Ratio ()P/BV Ratio ()

ITD43.423.39

CK20.472.48

P/E Ratio ITD 43.42 CK 20.47 Overvalue P/BV Ratio ITD 3.39 CK 2.48 Overvalue

4 P/E Ratio P/BV Ratio ITD CK 25 .. 2557 P/E Ratio ()P/BV Ratio ()

ITD44.253.46

CK20.472.48

P/E Ratio ITD 44.25 CK 20.47 Overvalue P/BV Ratio ITD 3.46 CK 2.48 Overvalue

5 P/E Ratio P/BV Ratio ITD CK 26 .. 2557 P/E Ratio ()P/BV Ratio ()

ITD41.193.22

CK20.282.45

P/E Ratio ITD 41.19 CK 20.28 Overvalue P/BV Ratio ITD 3.22 CK 2.45 Overvalue

6 P/E Ratio P/BV Ratio ITD CK 27 .. 2557 P/E Ratio ()P/BV Ratio ()

ITD41.193.22

CK20.472.48

P/E Ratio ITD 41.19 CK 20.47 Overvalue P/BV Ratio ITD 3.22 CK 2.48 Overvalue

7 P/E Ratio P/BV Ratio ITD CK 28 .. 2557 P/E Ratio ()P/BV Ratio ()

ITD42.303.31

CK20.472.48

P/E Ratio ITD 42.30 CK 20.47 Overvalue P/BV Ratio ITD 3.31 CK 2.48 Overvalue

3. 3.1 ITD

3.1: Indicators (PLE&MACD) Indicators (PLE&MACD)

PLE&MACD : http://www.investor.co.th

Bearish Divergence MACD: New High MACD

V-FORMATION3.2: V-FORMATION

: http://www.investor.co.th

V-Formation:

DOUBLE BOTTOM3.3: DOUBLE BOTTOM

: http://www.investor.co.thDouble Bottom: Moving Average3.4: Moving Average

: http://www.investor.co.th

: ( ) ()

3.5:

: http://www.investor.co.th

Bull Market3.6: Bull Market

: http://www.investor.co.th

(Bull Market):

Bear Market3.7: Bear Market

: http://www.investor.co.th

(Bear Market):