Indonesian Capital Goods Undervalued over 20% based on DCF

Astra International

Market Cap: Rp253.3t

Operates in the automotive, financial services, heavy equipment, mining, construction, energy, agri, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally.

Arwana Citramulia

Market Cap: Rp3.8t

Manufactures and distributes ceramic tiles in Indonesia and internationally.

Paramita Bangun Sarana

Market Cap: Rp3.6t

Engages in the construction business in Indonesia and Malaysia.

Surya Toto Indonesia

Market Cap: Rp2.8t

Manufactures and sells sanitary, fittings, kitchen systems, and other related products in Indonesia and internationally.

Nusantara Pelabuhan Handal

Market Cap: Rp2.5t

Manages and operates container terminals in Indonesia and internationally.

Garuda Metalindo

Market Cap: Rp2.2t

Manufactures and sells precision fasteners and engineered components primarily for the automotive industry in Indonesia, rest of Asia, Europe, and the Americas.

Jaya Konstruksi Manggala Pratama

Market Cap: Rp1.2t

Engages in the construction business in Indonesia.

PP Presisi

Market Cap: Rp1.0t

Operates as an integrated heavy equipment-based construction company in Indonesia.

PT. Multi Makmur Lemindo

Market Cap: Rp462.5b

Engages in the production and sale of polymer vinyl chloride (PVC)-based plastic in Indonesia.

Intikeramik Alamasri Industri

Market Cap: Rp306.0b

Manufactures, distributes, and sells porcelain tiles and granites under the Essenza brand in Indonesia.

Meta Epsi

Market Cap: Rp168.9b

Provides engineering, procurement, and construction services in Indonesia.