JAKARTA - PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM) is entering its second year as a constituent of Indeks52 under the category of HIgh Growth due to stable net profit performance until 2023.

According to IDNFinancials data, TKIM, which is still listed under APP Group of Sinarmas, reported compound annual growth rate (CAGR) of net profit within the past 5 years of 2.75%.

Although its 2023 net profit dropped significantly to USD 172 million from USD 463.35 million, Tjiwi Kimia reportedly managed to maintain its profitability.

Until Q1 2024, TKIM was seen experiencing a major surge of tenfold increase year on year in its net profit. Efficiency in operating expenses, along with increased profit from associates and gains on foreign exchange, allowed its net profit to skyrocket from USD 9.1 million to USD 104.6 million in Q1 2024, whereas its net sales sloped down from USD 298.5 million to USD 278 million.

TKIM’s solid performance in its net profit allows the company to maintain its position as a constituent in Indeks52, especially under High Growth category, following major evaluation of Indeks52 on various criteria. This position, in fact, has been granted to TKIM since the initial launch of Indeks52 last year on June 23, 2023.

It is worth mentioning that Indeks Tempo-IDNFinancials 52, shortly known as Indeks52, is an index designed by Tempo and IDNFInancials. It consists of 4 categories: Main Index, High Growth, High Dividend, and Big Market Cap.

At its first introduction, the index consisted of 96 constituents. However, after a major evaluation took place, there were reportedly 23 issuers that were dropped out of the list, along with 11 new constituents. Therefore, as of now, total constituents of Indeks52 shrink to 84.

Last Friday (26/7), TKIM is also known to have given its support for Malam Apresiasi Emiten Indeks52 that was held in Novotel Balikpapan. In this event, there were 24 present constituents that received appreciation after securing their places in Indeks52. (ZH)