Upcoming Dividend • May 26
Upcoming dividend of Rp1.10 per share Eligible shareholders must have bought the stock before 02 June 2026. Payment date: 22 June 2026. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Indonesian dividend payers (6.5%). Higher than average of industry peers (0.8%). Recent Insider Transactions • May 25
Vice President Director recently bought Rp1.3b worth of stock On the 20th of May, Mulyadi Utomo Moeljono bought around 19m shares on-market at roughly Rp65.99 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Mulyadi Utomo's only on-market trade for the last 12 months. 공시 • May 22
PT Indo Acidatama Tbk announces Annual dividend, payable on June 22, 2026 PT Indo Acidatama Tbk announced Annual dividend of IDR 1.1000 per share payable on June 22, 2026, ex-date on June 02, 2026 and record date on June 03, 2026. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: Rp4.80 (vs Rp1.62 in 1Q 2025) First quarter 2026 results: EPS: Rp4.80 (up from Rp1.62 in 1Q 2025). Revenue: Rp239.5b (down 23% from 1Q 2025). Net income: Rp28.9b (up 197% from 1Q 2025). Profit margin: 12% (up from 3.1% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • May 01
President Commissioner recently sold Rp13b worth of stock On the 28th of April, Biantoro Setijo sold around 184m shares on-market at roughly Rp70.15 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Rp39b more than they bought in the last 12 months. 공시 • Apr 11
PT Indo Acidatama Tbk, Annual General Meeting, May 19, 2026 PT Indo Acidatama Tbk, Annual General Meeting, May 19, 2026. Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: Rp12.85 (vs Rp3.74 in FY 2024) Full year 2025 results: EPS: Rp12.85 (up from Rp3.74 in FY 2024). Revenue: Rp1.26t (up 8.9% from FY 2024). Net income: Rp77.4b (up 244% from FY 2024). Profit margin: 6.2% (up from 2.0% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Rp64.00, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 13x in the Chemicals industry in Indonesia. Total returns to shareholders of 36% over the past three years. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: Rp3.42 (vs Rp0.28 loss in 3Q 2024) Third quarter 2025 results: EPS: Rp3.42 (up from Rp0.28 loss in 3Q 2024). Revenue: Rp337.3b (up 9.5% from 3Q 2024). Net income: Rp20.6b (up Rp22.3b from 3Q 2024). Profit margin: 6.1% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Board Change • Oct 24
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. 2 experienced directors. 10 highly experienced directors. 1 independent director (5 non-independent directors). Independent Commissioner FS Nusantara was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공시 • May 10
PT Indo Acidatama Tbk, Annual General Meeting, Jun 19, 2025 PT Indo Acidatama Tbk, Annual General Meeting, Jun 19, 2025. Recent Insider Transactions • Aug 12
Board Member recently bought Rp3.3b worth of stock On the 8th of August, Shelumiel Setijo bought around 67m shares on-market at roughly Rp50.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought Rp8.2b more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 26
Vice President Director recently bought Rp480m worth of stock On the 24th of June, Mulyadi Utomo Moeljono bought around 10m shares on-market at roughly Rp50.00 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mulyadi Utomo has been a buyer over the last 12 months, purchasing a net total of Rp612m worth in shares. Recent Insider Transactions • Jun 08
Vice President Director recently bought Rp30m worth of stock On the 4th of June, Mulyadi Utomo Moeljono bought around 600k shares on-market at roughly Rp50.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mulyadi Utomo has been a buyer over the last 12 months, purchasing a net total of Rp318m worth in shares. New Risk • Jun 05
New major risk - Revenue and earnings growth Earnings have declined by 0.2% 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 0.2% 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 (Rp301.0b market cap, or US$18.4m). 공시 • May 19
PT Indo Acidatama Tbk, Annual General Meeting, Jun 25, 2024 PT Indo Acidatama Tbk, Annual General Meeting, Jun 25, 2024. Reported Earnings • May 04
First quarter 2024 earnings released: EPS: Rp1.43 (vs Rp0.89 in 1Q 2023) First quarter 2024 results: EPS: Rp1.43 (up from Rp0.89 in 1Q 2023). Revenue: Rp228.2b (up 1.4% from 1Q 2023). Net income: Rp8.59b (up 60% from 1Q 2023). Profit margin: 3.8% (up from 2.4% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp78.00, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 14x in the Chemicals industry in Indonesia. Total returns to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp64.00, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 13x in the Chemicals industry in Indonesia. Total returns to shareholders of 19% over the past three years. Reported Earnings • Aug 02
Second quarter 2023 earnings released: EPS: Rp2.01 (vs Rp0.20 in 2Q 2022) Second quarter 2023 results: EPS: Rp2.01 (up from Rp0.20 in 2Q 2022). Revenue: Rp245.1b (up 10.0% from 2Q 2022). Net income: Rp12.1b (up Rp10.9b from 2Q 2022). Profit margin: 4.9% (up from 0.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Apr 08
Full year 2022 earnings released: EPS: Rp5.59 (vs Rp4.41 in FY 2021) Full year 2022 results: EPS: Rp5.59 (up from Rp4.41 in FY 2021). Revenue: Rp977.7b (up 7.7% from FY 2021). Net income: Rp33.6b (up 27% from FY 2021). Profit margin: 3.4% (up from 2.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
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. 3 experienced directors. 9 highly experienced directors. 1 independent director (5 non-independent directors). Independent Commissioner FS Nusantara was the last independent director to join the board, commencing their role in 2019. 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 • Aug 01
Second quarter 2022 earnings released: EPS: Rp0.19 (vs Rp0.19 in 2Q 2021) Second quarter 2022 results: EPS: Rp0.19 (up from Rp0.19 in 2Q 2021). Revenue: Rp222.9b (up 11% from 2Q 2021). Net income: Rp1.18b (up 4.0% from 2Q 2021). Profit margin: 0.5% (down from 0.6% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Commissioner FS Nusantara was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 27% share price gain to Rp70.00, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 29x in the Chemicals industry in Indonesia. Total returns to shareholders of 17% over the past three years. Upcoming Dividend • Aug 11
Upcoming dividend of Rp1.00 per share Eligible shareholders must have bought the stock before 18 August 2021. Payment date: 08 September 2021. Trailing yield: 3.6%. Lower than top quartile of Indonesian dividend payers (4.0%). Higher than average of industry peers (0.9%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS Rp0.18 (vs Rp0.97 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Rp200.1b (down 3.7% from 2Q 2020). Net income: Rp1.13b (down 81% from 2Q 2020). Profit margin: 0.6% (down from 2.8% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Jun 13
Full year 2020 earnings released: EPS Rp7.33 (vs Rp7.11 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: Rp891.0b (up 30% from FY 2019). Net income: Rp44.2b (up 3.1% from FY 2019). Profit margin: 5.0% (down from 6.3% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 28
New 90-day low: Rp53.00 The company is down 4.0% from its price of Rp55.00 on 27 October 2020. The Indonesian market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 23% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: Rp62.00 The company is up 15% from its price of Rp54.00 on 18 September 2020. The Indonesian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 45% over the same period. Reported Earnings • Nov 28
Third quarter 2020 earnings released: EPS Rp1.41 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: Rp200.6b (up 17% from 3Q 2019). Net income: Rp8.45b (down 29% from 3Q 2019). Profit margin: 4.2% (down from 7.0% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.