Sido Muncul Herbal Drinks Selected for Inclusion in the LQ45 Index in 2023

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Adi Ahdiat 31/03/2023 18:41 WIB

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PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) reported a net profit of approximately Rp1.1 trillion in 2022. They were also included in the LQ45 index for the February-July 2023 period.

Net Profit of PT Industri Jamu dan Farmasi Sido Muncul Tbk (2019-2022)

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Sido Muncul Herbal Drinks Selected for Inclusion in the LQ45 Index in 2023

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Net Profit of PT Industri Jamu dan Farmasi Sido Muncul Tbk (2019-2022)

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PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) reported a net profit of approximately Rp1.1 trillion in 2022.

This profit was down 12% year-on-year (yoy), but still considerably high compared to the 2019-2020 period, as shown in the graph.

Despite the profit decline, Sido Muncul became a new entrant in the LQ45 index for the February-July 2023 period.

The LQ45 is a list of 45 selected issuers according to the Indonesia Stock Exchange (IDX), whose performance is considered good based on specific criteria, such as large market capitalization and high liquidity.

In 2022, this herbal medicine and pharmaceutical company had short-term liabilities or debts of Rp541 billion, down from Rp543 billion in 2021.

Its long-term debt decreased from Rp54.4 billion to Rp34.9 billion. Meanwhile, its equity increased from Rp3.47 trillion to Rp3.51 trillion by the end of 2022.

In 2023, Sido Muncul has budgeted Rp200 billion for capital expenditure and business expansion.

"We plan to add land around our factory area for future factory expansion," said Sido Muncul management in its press release (March 13, 2023).

"We also have a budget for the completion of several projects and the expansion of production facilities that have been ongoing since last year," it continued.

This year, Sido Muncul will also distribute cash dividends totaling Rp1.09 trillion, or Rp36.5 per share. Its dividend payout ratio reaches 99% of the company's 2022 net profit.

This was approved at the Sido Muncul Annual General Meeting of Shareholders (RUPS) held on Wednesday, March 29, 2023.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."