Stone One Public Company Limited

What Stone One Public Company Limited does

Stone One Public Company Limited (STX) is a Thailand-based mining and aggregates company that produces and distributes industrial construction materials, primarily granite, limestone, and dolomite minerals, serving construction companies, infrastructure developers, industrial manufacturers, and government agencies. The company operates three quarries across strategic economic zones: Nong Kha (Chonburi) for granite, Chom Bueng (Ratchaburi) for limestone and dolomite, and Khao Yoi (Phetchaburi), with concession periods extending through 2575-2594 Buddhist Era. Its product portfolio includes graded aggregates (20mm, 6mm, Ballast, Bigrock, RBB, RBC, Dust, Silt), dolomite in lump, chip, and powder forms (60-90mm down to 325 mesh), and integrated GPS-tracked transportation services using 10-wheel and 18-wheel trucks.

The company's technology stack centers on a Smart Mining platform combining IoT sensors, real-time OEE (Overall Equipment Effectiveness) monitoring via cloud/SCADA, predictive maintenance algorithms, and site safety monitoring. STX operates a B2B direct sales model with quote-based pricing on industrial stone and dolomite products, and serves customers through its own distribution network and transportation fleet rather than third-party logistics. Revenue mix is approximately 48% granite, 37% limestone, and 15% dolomite, with FY2024 revenue of 456.60 million THB and net profit of 51.76 million THB, both representing year-over-year growth of 23% and 36.1% respectively.

Founded in 1996 and listed on Thailand's mai exchange on April 26, 2024, STX has 30+ years of operating history across predecessor brands (Pioneer Aggregates, Hanson, Boral). The company is controlled by the Ano family (~33.69%) and Pingclasai family (~25.62%), both holding founder-level executive positions. Recent strategic activity includes the 2025 acquisition of Boonthaworn Mining Co., Ltd. for 212.79 million THB, adding a third limestone quarry with 25 million tons of reserves, and successive ISO 9001/14001/45001 certifications supporting institutional procurement qualification.

Name

Stone One Public Company Limited

Legal name

บริษัท สโตนวัน จำกัด (มหาชน)

Website

https://stoneone.co.th

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1–10 employees

Short description

Stone One Public Company Limited (STX) is a Thai mining and aggregates producer that quarries and distributes granite, limestone, and dolomite products for construction companies, infrastructure developers, industrial manufacturers, and government agencies across Thailand via three strategically located quarries and an integrated transportation fleet.

Ownership category

akta.pro rank

Product category

Industrial Stone Aggregates

NAICS

Crushed and Broken Limestone Mining and Quarrying (212312), Crushed and Broken Granite Mining and Quarrying (212313), Nonmetallic Mineral Mining and Quarrying (2123), Stone Mining and Quarrying (21231)

SIC

Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)

akta.pro primary industry

Crushed Stone Quarrying & Processing (IMAKAHAA)

akta.pro secondary industries

Limestone Quarrying (Industrial & Construction Grade) (IMAKAHAC), Granite Quarrying & Dimension Stone Fabrication (IMAKAHAD), Construction Aggregates Mining & Processing (Sand, Gravel, Crushed Stone) (IMADAAAI)

Keywords

• Industrial aggregates production
• Granite mining products
• Dolomite mineral supply
• Construction stone quarrying
• Limestone aggregate distribution

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Industrial Stone Products: Production and distribution of granite and limestone aggregates for construction. Products include various sizes (20mm, 6mm, Dust, Ballast, Bigrock, RBB, RBC, Silt) used in concrete mixing, road construction, railway ballast, embankments, and asphalt mixing. This is the primary revenue driver representing approximately 85% of total revenue.
2. Dolomite Mineral Products: Production and distribution of dolomite minerals from Chom Bueng quarry, including lump, chip, and powder forms. Used in glass manufacturing, cement, steel industry, refractories, ceramics, agriculture (soil/water quality improvement), and paper production. Represents approximately 15% of revenue with growing demand from steel and glass industries.
3. Transportation Services: Integrated logistics services for stone and sand delivery using 10-wheel and 18-wheel trucks with GPS tracking. Services include driver training, vehicle maintenance, and guaranteed timely delivery. Offered as a comprehensive add-on service for customer convenience.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Stone One Public Company Limited (STX) produces and distributes industrial stone aggregates — granite and limestone in various sizes (Bigrock, Ballast, 20mm, 6mm, RBB, RBC, Dust, Silt) — and dolomite mineral products (lump, chip, and powder forms) for construction, infrastructure, steel, glass, cement, and agricultural applications. The company operates three mining concessions in Chonburi, Ratchaburi, and Phetchaburi provinces, supported by an integrated transportation fleet offering delivery services to construction and industrial customers across Thailand.

Product overview

Stone One Public Company Limited (STX) is a mining and aggregates company with 30+ years of experience producing industrial construction materials. The company operates a multi-product portfolio centered on three core offerings: (1) Industrial Stone/Aggregate products including granite and limestone in various sizes (Bigrock, Ballast, 20mm, 6mm, RBB, RBC, Dust, Silt), (2) Dolomite Mineral products processed through three stages—lump, chip, and powder (sizes from 60-90mm to 325 mesh) for diverse industries including glass, steel, cement, and agriculture, and (3) Integrated Transportation Services with GPS-tracked fleet. The company has also developed Smart Mining technology featuring real-time OEE monitoring, IoT sensors, and predictive maintenance. STX holds quarry concessions in Chonburi, Ratchaburi, and Phetchaburi provinces.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial Stone (Aggregate)

Quantifiable outcome

• Revenue growth of 23% to 456.60 million baht in FY2024
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators10 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Martin Marietta Materials: Second-largest U.S. producer of construction aggregates, including crushed stone, sand, and gravel, with operations across the U.S. Comparable as a global pure-play aggregates benchmark demonstrating the operating leverage and scale achievable in the aggregates-only model.
• Siam Cement Group (SCG): Thailand's largest industrial conglomerate with operating quarrying and aggregate production across its cement and building materials businesses. Comparable in Thai construction materials end markets though operations span chemicals, packaging, and many other segments.
• Asia Cement Public Company Limited: Thai cement and concrete producer with its own limestone quarries serving construction and infrastructure customers. Comparable in quarrying operations and Thai construction end markets, though focused on cement as primary product.
• Vulcan Materials Company: The largest pure-play producer of construction aggregates (crushed stone, sand, gravel) in the United States. Provides a global benchmark for the aggregates-only business model that STX operates, with similar focus on crushed stone production and proximity to construction demand.
• Siam City Cement Public Company Limited (SCCC): Major Thai cement producer (Holcim-affiliated) with limestone quarrying and aggregate operations serving similar construction and infrastructure customers. Operates at significantly larger scale than STX with broader product portfolio.
• TPI Polene Public Company Limited: One of Thailand's largest cement and concrete producers with significant aggregate operations. Comparable in terms of construction materials serving Thai infrastructure and real estate, though much larger scale and more diversified across cement, concrete, and aggregates.

Others

• Boral Limited: Australian-headquartered building materials and construction aggregate company that was historically the parent of STX's predecessor entity (Boral Sand Products Thailand). Provides historical context and a comparable global aggregates peer with similar product portfolio.

Regional players

• Indocement Tunggal Prakarsa: One of Indonesia's largest cement producers with integrated quarrying and aggregate operations. Comparable as a regional Southeast Asian limestone quarrying and construction materials operator, though serving Indonesian rather than Thai end markets.
• George Kent (Malaysia) Berhad: Malaysian-listed engineering and construction company with exposure to construction materials and infrastructure projects. Comparable as a regional Southeast Asian construction materials and infrastructure play, though operational focus differs from STX's pure quarrying model.

Direct peers

• Tipco Asphalt Public Company Limited: Thai-listed asphalt and construction materials producer that operates its own quarries and produces crushed stone aggregates for road construction. Directly comparable in terms of quarrying operations, aggregate product range, and Thai construction industry customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/stone-one-public-company-limited

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stone One Public Company Limited