Automotive Component Company Owned By Conglomerate TP Rachmat Reaches Sales Of IDR 2.91 Trillion And Profit Of IDR 301.14 Billion In 2021

Photo: Doc. Dharma Polimetal

JAKARTA - The Triputra group's automotive component company, PT Dharma Polimetal Tbk (DRMA) recorded a positive performance in 2021. The profit and revenue of this company owned by conglomerate TP Rachmat skyrocketed last year.

In Dharma Polimetal's financial report, quoted on Thursday, March 17, DRMA recorded a net profit attributable to owners of the parent entity of IDR301.14 billion. This figure increased by 14.92 times compared to 2020 which was IDR 18.9 billion.

The net profit that jumped many times came from net sales which rose 55.44 percent to IDR 2.91 trillion in 2021 compared to IDR 1.87 trillion in 2020.

The cost of goods sold also jumped to IDR2.46 trillion from IDR1.65 trillion. This makes a gross profit in 2021 increase to IDR 452 billion from 2020 which amounted to IDR 220.98 billion.

This Triputra group entity managed to maintain sales and marketing expenses which rose slightly to IDR 36.67 billion from IDR 30.73 billion, as well as general and administrative expenses which fell to IDR 140.65 billion from IDR 141.49 billion.

Dharma Polimetal also recorded other operating income which increased to IDR146.03 billion in 2021 compared to IDR 25.82 billion in 2020.

Operating profit also managed to jump to IDR 420.21 billion as of December 31, 2021, compared to IDR 67.42 billion in the previous year period.

Meanwhile, its net profit per share fell to IDR74 per share in 2021 compared to IDR 472,649 per share in 2020. The decrease in net profit per share was due to the issuance of new shares during the IPO.

Meanwhile, DRMA's total assets increased to IDR 2.53 trillion as of December 31, 2021, compared to the end of 2020 which was IDR 1.61 trillion. In detail, current assets jumped to IDR 1.55 trillion from only IDR 668.28 billion, while non-current assets rose to IDR 982.2 billion from IDR 950.89 billion.

On the other hand, DRMA's total liabilities also increased to IDR 1.45 trillion in 2021 compared to IDR1.08 trillion in 2020. These liabilities consisted of short-term liabilities which increased to IDR 1.09 trillion from IDR 698.22 billion, while long-term liabilities decreased to IDR 356.71 billion from IDR 388.75 billion.

Dharma Polimetal's equity position also increased to IDR 1.08 trillion in 2021 from IDR 532.19 billion in 2020.

In addition, the cash and cash equivalent position at the end of the year also increased to IDR 415.25 billion in 2021 compared to IDR 68.56 billion in 2020. The increase in cash position was due to the proceeds from the public offering of IDR 341.72 billion.