Reported Earnings • Aug 07
Second quarter 2026 earnings released: EPS: US$0 (vs US$0 in 2Q 2025) Second quarter 2026 results: EPS: US$0 (in line with 2Q 2025). Revenue: US$79.6m (up 26% from 2Q 2025). Net income: US$1.16m (up US$990.4k from 2Q 2025). Profit margin: 1.5% (up from 0.3% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Rp100.00, the stock trades at a trailing P/E ratio of 33.5x. Average trailing P/E is 35x in the Packaging industry in Indonesia. Total loss to shareholders of 32% over the past three years. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: US$0 (vs US$0 in 1Q 2025) First quarter 2026 results: EPS: US$0 (in line with 1Q 2025). Revenue: US$62.0m (up 16% from 1Q 2025). Net income: US$363.4k (up 3.7% from 1Q 2025). Profit margin: 0.6% (down from 0.7% 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 40% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. 공고 • Apr 28
PT Indopoly Swakarsa Industry Tbk, Annual General Meeting, Jun 03, 2026 PT Indopoly Swakarsa Industry Tbk, Annual General Meeting, Jun 03, 2026. Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: US$0 (vs US$0 in FY 2024) Full year 2025 results: EPS: US$0 (in line with FY 2024). Revenue: US$241.6m (up 14% from FY 2024). Net income: US$1.05m (flat on FY 2024). Profit margin: 0.4% (down from 0.5% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 8% per year. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp103, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 36x in the Packaging industry in Indonesia. Total loss to shareholders of 28% over the past three years. Reported Earnings • Nov 05
Third quarter 2025 earnings released: EPS: US$0 (vs US$0 in 3Q 2024) Third quarter 2025 results: EPS: US$0 (in line with 3Q 2024). Revenue: US$61.8m (up 12% from 3Q 2024). Net income: US$46.4k (down 81% from 3Q 2024). Profit margin: 0.1% (down from 0.5% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Oct 24
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. No independent directors (5 non-independent directors). Independent Commissioner Agnes Goretti was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 공고 • Apr 30
PT Indopoly Swakarsa Industry Tbk, Annual General Meeting, Jun 05, 2025 PT Indopoly Swakarsa Industry Tbk, Annual General Meeting, Jun 05, 2025. Location: jakarta Indonesia Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: US$0 (vs US$0 in 3Q 2023) Third quarter 2024 results: EPS: US$0 (in line with 3Q 2023). Revenue: US$55.1m (up 14% from 3Q 2023). Net income: US$249.9k (up US$237.2k from 3Q 2023). Profit margin: 0.5% (up from 0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$0 (vs US$0 in 2Q 2023) Second quarter 2024 results: EPS: US$0 (in line with 2Q 2023). Revenue: US$49.9m (up 9.5% from 2Q 2023). Net income: US$200.7k (up US$224.1k from 2Q 2023). Profit margin: 0.4% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. New Risk • May 12
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 19% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (Rp837.6b market cap, or US$51.9m). 공고 • May 09
PT Indopoly Swakarsa Industry Tbk, Annual General Meeting, Jun 12, 2024 PT Indopoly Swakarsa Industry Tbk, Annual General Meeting, Jun 12, 2024. Reported Earnings • Apr 03
Full year 2023 earnings released: EPS: US$0 (vs US$0 in FY 2022) Full year 2023 results: EPS: US$0 (in line with FY 2022). Revenue: US$193.9m (down 15% from FY 2022). Net income: US$285.6k (down 91% from FY 2022). Profit margin: 0.1% (down from 1.4% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. New Risk • Nov 22
New major risk - Revenue and earnings growth Earnings have declined by 5.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.6% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (Rp921.4b market cap, or US$59.1m). Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: US$0 (vs US$0 in 2Q 2022) Second quarter 2023 results: EPS: US$0 (in line with 2Q 2022). Revenue: US$45.6m (down 22% from 2Q 2022). Net loss: US$23.4k (down 103% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 22% share price gain to Rp172, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 11x in the Packaging industry in Indonesia. Total returns to shareholders of 97% over the past three years. Reported Earnings • Dec 03
Third quarter 2022 earnings released: EPS: US$0 (vs US$0 in 3Q 2021) Third quarter 2022 results: EPS: US$0 (in line with 3Q 2021). Revenue: US$56.3m (down 6.1% from 3Q 2021). Net income: US$1.18m (down 41% from 3Q 2021). Profit margin: 2.1% (down from 3.3% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 17% per year. Board Change • Nov 16
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. No independent directors (8 non-independent directors). Independent Commissioner Agnes Goretti was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Sep 05
Second quarter 2022 earnings released: EPS: US$0 (vs US$0 in 2Q 2021) Second quarter 2022 results: EPS: US$0 (in line with 2Q 2021). Revenue: US$58.5m (flat on 2Q 2021). Net income: US$722.0k (down 72% from 2Q 2021). Profit margin: 1.2% (down from 4.3% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 02
First quarter 2022 earnings released: EPS: US$0 (vs US$0 in 1Q 2021) First quarter 2022 results: EPS: US$0 (vs US$0 in 1Q 2021). Revenue: US$60.3m (up 6.9% from 1Q 2021). Net income: US$2.15m (up 1.3% from 1Q 2021). Profit margin: 3.6% (down from 3.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. No independent directors (8 non-independent directors). Independent Commissioner Agnes Goretti was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Apr 15
Full year 2021 earnings released Full year 2021 results: Revenue: US$239.4m (up 21% from FY 2020). Net income: US$8.83m (up 12% from FY 2020). Profit margin: 3.7% (down from 4.0% in FY 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 17% share price gain to Rp190, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 17x in the Packaging industry in Indonesia. Total returns to shareholders of 102% over the past three years. Reported Earnings • Apr 07
Full year 2020 earnings released: EPS US$0.001 (vs US$0.001 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$197.9m (down 2.6% from FY 2019). Net income: US$7.89m (up 87% from FY 2019). Profit margin: 4.0% (up from 2.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 21% share price gain to US$193, the stock is trading at a trailing P/E ratio of 16.9x, up from the previous P/E ratio of 14x. This compares to an average P/E of 16x in the Packaging industry in Indonesia. Total returns to shareholders over the past three years are 62%. Is New 90 Day High Low • Jan 04
New 90-day high: Rp188 The company is up 121% from its price of Rp85.00 on 07 October 2020. The Indonesian market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 13% over the same period. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 24% share price gain to US$171, the stock is trading at a trailing P/E ratio of 14.7x, up from the previous P/E ratio of 11.8x. This compares to an average P/E of 14x in the Packaging industry in Indonesia. Total returns to shareholders over the past three years are 46%. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 20% share price gain to US$110, the stock is trading at a trailing P/E ratio of 9.4x, up from the previous P/E ratio of 7.9x. This compares to an average P/E of 14x in the Packaging industry in Indonesia. Total return to shareholders over the past three years is a loss of 11%. Is New 90 Day High Low • Dec 18
New 90-day high: Rp93.00 The company is up 16% from its price of Rp80.00 on 18 September 2020. The Indonesian market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Packaging industry, which is up 9.0% over the same period.