New Risk • Aug 10
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 148% Dividend yield: 1.2% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Dividend is not well covered by earnings (148% payout ratio). Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (Rp855.5b market cap, or US$47.9m). Reported Earnings • Aug 02
Second quarter 2026 earnings released: EPS: Rp0.84 (vs Rp0.14 loss in 2Q 2025) Second quarter 2026 results: EPS: Rp0.84 (up from Rp0.14 loss in 2Q 2025). Revenue: Rp176.7b (up 34% from 2Q 2025). Net income: Rp6.12b (up Rp7.10b from 2Q 2025). Profit margin: 3.5% (up from net loss in 2Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: Rp0.43 (vs Rp0.84 in 1Q 2025) First quarter 2026 results: EPS: Rp0.43 (down from Rp0.84 in 1Q 2025). Revenue: Rp153.3b (up 1.2% from 1Q 2025). Net income: Rp3.12b (down 49% from 1Q 2025). Profit margin: 2.0% (down from 4.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 9% per year. Declared Dividend • Apr 29
Dividend increased to Rp1.38 Dividend of Rp1.38 is 100% higher than last year. Ex-date: 4th May 2026 Payment date: 22nd May 2026 Dividend yield will be 0.9%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio). However, it is well covered by cash flows (34% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 8.9% to bring the payout ratio under control, which is less than the 59% EPS growth achieved over the last 5 years. Ankündigung • Apr 28
PT Trisula Textile Industries Tbk announces Annual dividend, payable on May 22, 2026 PT Trisula Textile Industries Tbk announced Annual dividend of IDR 1.3800 per share payable on May 22, 2026, ex-date on May 04, 2026 and record date on May 05, 2026. Buy Or Sell Opportunity • Apr 24
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to Rp144. The fair value is estimated to be Rp186, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has grown by 19%. Reported Earnings • Apr 01
Full year 2025 earnings released: EPS: Rp1.34 (vs Rp1.22 in FY 2024) Full year 2025 results: EPS: Rp1.34 (up from Rp1.22 in FY 2024). Revenue: Rp584.8b (flat on FY 2024). Net income: Rp9.67b (up 9.8% from FY 2024). Profit margin: 1.7% (up from 1.5% in FY 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Ankündigung • Mar 18
PT Trisula Textile Industries Tbk, Annual General Meeting, Apr 22, 2026 PT Trisula Textile Industries Tbk, Annual General Meeting, Apr 22, 2026. Board Change • Feb 04
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Independent Commissioner V. Sunarja was the last independent director to join the board, commencing their role in 2017. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jan 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (Rp794.1b market cap, or US$46.9m). New Risk • Nov 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indonesian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (Rp620.3b market cap, or US$37.2m). Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: Rp0.054 (vs Rp0.19 in 3Q 2024) Third quarter 2025 results: EPS: Rp0.054 (down from Rp0.19 in 3Q 2024). Revenue: Rp130.3b (down 10% from 3Q 2024). Net income: Rp388.7m (down 72% from 3Q 2024). Profit margin: 0.3% (down from 1.0% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Board Change • Oct 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Independent Commissioner V. Sunarja was the last independent director to join the board, commencing their role in 2017. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 25
PT Trisula Textile Industries Tbk announces Annual dividend, payable on May 15, 2025 PT Trisula Textile Industries Tbk announced Annual dividend of IDR 0.6900 per share payable on May 15, 2025, ex-date on April 25, 2025 and record date on April 28, 2025. Ankündigung • Mar 25
PT Trisula Textile Industries Tbk, Annual General Meeting, Apr 15, 2025 PT Trisula Textile Industries Tbk, Annual General Meeting, Apr 15, 2025. Location: pt trisula textile industries tbk jl. mahar, martanegara no. 170 baros cimahi tengah kota, cimahi, jawa barat 40522 kota cimahi jawa barat, 40522 kota cimahi jawa barat, jakarta Indonesia Reported Earnings • Nov 03
Third quarter 2024 earnings released: EPS: Rp0.19 (vs Rp0.13 in 3Q 2023) Third quarter 2024 results: EPS: Rp0.19 (up from Rp0.13 in 3Q 2023). Revenue: Rp145.0b (up 19% from 3Q 2023). Net income: Rp1.38b (up 44% from 3Q 2023). Profit margin: 1.0% (up from 0.8% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp81.00, the stock trades at a trailing P/E ratio of 66.8x. Average trailing P/E is 25x in the Luxury industry in Indonesia. Total loss to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to Rp74.00, the stock trades at a trailing P/E ratio of 61.1x. Average trailing P/E is 29x in the Luxury industry in Indonesia. Total loss to shareholders of 47% over the past three years. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: Rp0.31 (vs Rp0.69 in 2Q 2023) Second quarter 2024 results: EPS: Rp0.31 (down from Rp0.69 in 2Q 2023). Revenue: Rp145.9b (up 16% from 2Q 2023). Net income: Rp2.22b (down 56% from 2Q 2023). Profit margin: 1.5% (down from 4.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to Rp53.00, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 16x in the Luxury industry in Indonesia. Total loss to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to Rp83.00, the stock trades at a trailing P/E ratio of 52x. Average trailing P/E is 16x in the Luxury industry in Indonesia. Total loss to shareholders of 27% over the past three years. Reported Earnings • May 05
First quarter 2024 earnings released: EPS: Rp0.77 (vs Rp0.39 in 1Q 2023) First quarter 2024 results: EPS: Rp0.77 (up from Rp0.39 in 1Q 2023). Revenue: Rp135.5b (up 22% from 1Q 2023). Net income: Rp5.60b (up 98% from 1Q 2023). Profit margin: 4.1% (up from 2.5% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: Rp1.21 (vs Rp0.37 in FY 2022) Full year 2023 results: EPS: Rp1.21 (up from Rp0.37 in FY 2022). Revenue: Rp538.6b (up 17% from FY 2022). Net income: Rp8.76b (up 229% from FY 2022). Profit margin: 1.6% (up from 0.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. New Risk • Mar 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indonesian stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 40% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (Rp499.5b market cap, or US$31.5m). New Risk • Feb 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings have declined by 40% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (Rp485.1b market cap, or US$31.0m). New Risk • Nov 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.9% Last year net profit margin: 1.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings have declined by 40% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (Rp601.5b market cap, or US$38.5m). Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: Rp0.13 (vs Rp0.23 in 3Q 2022) Third quarter 2023 results: EPS: Rp0.13 (down from Rp0.23 in 3Q 2022). Revenue: Rp122.0b (up 12% from 3Q 2022). Net income: Rp958.5m (down 43% from 3Q 2022). Profit margin: 0.8% (down from 1.5% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: Rp0.69 (vs Rp0.59 in 2Q 2022) Second quarter 2023 results: EPS: Rp0.69 (up from Rp0.59 in 2Q 2022). Revenue: Rp126.0b (up 17% from 2Q 2022). Net income: Rp4.99b (up 17% from 2Q 2022). Profit margin: 4.0% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 23
Full year 2022 earnings released: EPS: Rp0.37 (vs Rp0.34 in FY 2021) Full year 2022 results: EPS: Rp0.37 (up from Rp0.34 in FY 2021). Revenue: Rp461.8b (up 7.9% from FY 2021). Net income: Rp2.66b (up 8.9% from FY 2021). Profit margin: 0.6% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Independent Commissioner V. Sunarja was the last independent director to join the board, commencing their role in 2017. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 07
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Commissioner V. Sunarja was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Commissioner V. Sunarja was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 07
Full year 2021 earnings released: EPS: Rp0.34 (vs Rp2.21 loss in FY 2020) Full year 2021 results: EPS: Rp0.34 (up from Rp2.21 loss in FY 2020). Revenue: Rp428.2b (down 21% from FY 2020). Net income: Rp2.45b (up Rp18.5b from FY 2020). Profit margin: 0.6% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Buying Opportunity • Feb 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 41%. The fair value is estimated to be Rp118, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% per annum over the last 3 years. The company became loss making over the last year. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS Rp0.37 (vs Rp0.37 loss in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: Rp112.4b (down 22% from 2Q 2020). Net income: Rp2.64b (up Rp5.34b from 2Q 2020). Profit margin: 2.4% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 15
New 90-day low: Rp148 The company is down 9.0% from its price of Rp162 on 17 November 2020. The Indonesian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 29
New 90-day low: Rp152 The company is down 1.0% from its price of Rp153 on 27 October 2020. The Indonesian market is up 16% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Luxury industry, which is also down 1.0% over the same period. Reported Earnings • Nov 10
Third quarter 2020 earnings released: Rp0.27 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: Rp132.3b (down 30% from 3Q 2019). Net loss: Rp1.89b (down 126% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. 
