JAKARTA – PT Jantra Grupo Indonesia Tbk (KAQI), the owner of the Jantrakakikaki workshop network, which was newly listed on the Indonesia Stock Exchange (IDX) today (10/3), revealed a revenue target of IDR 75 billion for 2025.

This was disclosed by Beni Hendrawan, KAQI’s Independent Commissioner, following the company’s IPO ceremony. “For the bottom line, we expect higher growth, at least 20-30% year-on-year (yoy),” he added.

By August 2024, KAQI’s revenue had increased by 14.26% yoy to IDR 39.11 billion, with net profit soaring fourfold to IDR 7.34 billion. In contrast, by the end of 2023, the company’s revenue had reached IDR 50 billion, with net profit standing at only IDR 1.1 billion.

Despite the sluggish automotive industry, KAQI is planning to open five new workshops across Java this year. According to Beni, declining car sales do not affect KAQI’s business, as the company focuses on vehicle maintenance and repair services.

“What is related is the public’s awareness of vehicle comfort and safety. If we look at it, that growth is even better,” said Beni.

With IDR 53.1 billion raised from the offering of 450 million shares during its IPO, KAQI will launch workshop expansions in Bona Indah, Jakarta, followed by Bekasi, Bandung, Semarang, and Surabaya.

“The closest preparation is Bandung; for Semarang, we are still reviewing the location, and the target is already in place, just waiting for execution,” Beni stated. He projected that KAQI’s newest workshops would open as early as Q3-Q4 2025.

Looking ahead, Beni mentioned plans to expand the workshop network outside Java, particularly in Sumatra, while still considering demand and market share.

“But we are taking it step by step. For now, we will proceed with what we have already projected,” he concluded. (ZH)