JAKARTA – The performance growth of PT Cisarua Mountain Dairy Tbk (CMRY) in 2024 has caught the attention of analysts, supported by solid performance across its various segments.

CMRY is well-known as a producer of dairy-based processed food and beverages, with its flagship brand Cimory.

According to its latest financial report, CMRY posted revenue of IDR 9.02 trillion in 2024, growing 16.1% year-on-year (yoy). The Dairy products segment contributed to a 5.96% increase in revenue, while Consumer Food surged by 25.12%.

CMRY’s revenue growth also boosted its net profit by 22.3% to IDR 1.52 trillion in 2024.

However, analysts at Ina Sekuritas Indonesia highlighted several challenges that CMRY might face, such as the depreciation of the rupiah, which could increase raw material costs without corresponding increases in product prices.

“Based on a comprehensive market analysis, we set a target price of IDR 5,550 for CMRY shares,” said Ina Sekuritas Indonesia’s analysts in their latest research report.

This target price aligns with CMRY’s stock valuation, measured by an expected P/E Ratio of 27.5x for the 2025 financial year. This expectation is consistent with CMRY's average P/E Ratio over the last three years. (KR/ZH)