IRPC Public Co Ltd (IRPC) is primarily engaged in the production and sale of petroleum products and petrochemical products. The company operates in three reportable segments: Petroleum products, Petrochemical products, and Other businesses. The company also manufactures olefins, aromatics, and polymers such as high-density polyethylene and polypropylene. Geographically, the company operates through Thailand, Singapore and Others. In FY2024, the company reported a capital expenditure of THB4,453 million which was 1.4% of the company’s total revenue and grew 63.1% YoY.

IRPC has undertaken various research and development initiatives focusing on enhancing R&D effectiveness, advancing core uplift business innovations, and developing step-up and beyond business innovations. The company has successfully advanced 24 Core Uplift R&D projects to the commercial-ready product stage, resulting in market launches and generating additional profit. It also developed ABS Powder Optimization, which is a high-quality thermoplastic developed using advanced Agglomeration Process technology, which enhances efficiency by reducing polymerization batch time by 45%, while enabling the recovery of 278 tons of Butadiene annually and reducing over 90% phosphate content in powder. The company also worked on developing POLIMAXX P901BK-RC HDPE pellet, which is used to manufacture pressure-resistant and impact-resistant pipes for water transportation and has a lifespan of 50 years. It also developed POLIMAXX 3312E PP pellet, which is used in the production of pipes that are resistant to abrasion, pressure, and chemicals. The UHMW-PE is a polyolefin powder developed to offer combination of mechanical properties, particularly toughness and abrasion wear resistance, combined with excellent chemical properties, highly resistance to chemicals and acid. Within the Step Up & Beyond businesses the company focuses on developing technologies across three focus areas, which includes regenerative agriculture, nanocarbon, and healthcare & life sciences. Moreover, within the De novo Research program, the company has over 29 projects, mostly at technology readiness level (TRL) 1-6, focusing on validating technical feasibility during the laboratory phase. In addition to this, the Sandbox program is home to 4 active projects, including, 3D Printing Filament, Silver Nano, Protective Coating, and Soil Conditioner. In FY2024 the company incurred a research and development expenditure of THB310 million which was 0.1% of the company’s total revenue and declined 4.6% YoY.