JAKARTA – PT Daya Intiguna Yasa Tbk (MDIY), the issuer behind the MR. D.I.Y retail brand, is ready to seize the opportunities in the non-grocery retail segment, which remains substantial, after its listing on Indonesia Stock Exchange (IDX) today (19/12).

MDIY's management shared that the non-grocery retail segment in Indonesia currently has a Total Addressable Market (TAM) of US$18.4 billion. The data, based on research by Frost & Sullivan, also forecasts an 8% compound annual growth rate (CAGR) for this segment from 2023 to 2028.

Capitalising on this potential, MDIY has increased its market penetration to 1.9% in 2023. This number is expected to grow higher with the positive momentum following the Initial Public Offering (IPO).

Edwin Cheah, President Director of MDIY, mentioned that in the future, the company will not only target specific markets but also cater to the needs of people from various economic backgrounds.

“We believe that with an inclusive and efficient approach, MR. D.I.Y. can be the main solution for Indonesian families to fulfil their daily household needs at affordable prices,” Cheah stated in a written release today (19/12).

To expand its market share, MDIY has prepared efficient and adaptive operational strategies to maintain profit margins. The company also continues to reach new areas and smaller cities to bring its products closer to customers.

"We are committed to staying relevant in the dynamic market by continuously improving efficiency and expanding our reach," Cheah added.

According to data from idnfinancials.com, MDIY has successfully boosted its revenue performance from 2021 to 2023 with a CAGR of 109%. The total revenue recorded by the company in 2023 amounted to IDR 3.9 trillion, while net profit stood at IDR 161.12 billion. (KR/ZH)