Sido Muncul, Irwan Hidayat's Herbal Medicine Company Distributes IDR 934 Billion Dividends

Conglomerate Irwan Hidayat. (Photo; Doc. Sido Appears)

JAKARTA - PT Industri Jamu dan Pharmacy Sido Muncul Tbk held an Annual General Meeting of Shareholders (AGMS) at the company's factory located in Semarang, on Wednesday, March 31. One of the results of the AGMS was that Sido Muncul distributed all (100 percent) of the profits or profits in 2020 as dividends.

"Determination of the use of net profit for the 2020 financial year of IDR 934 billion as dividends, or IDR 31.4 per share," wrote the management of the issuer coded as SIDO, quoted from the information disclosure page of the Indonesian Stock Exchange (IDX), Thursday, April 1.

Apart from this agenda, the company owned by conglomerate Irwan Hidayat has also appointed two new commissioners, namely Lindwati Gani and Mohammad Adib Khumaidi as Independent Commissioners.

"The AGMS also approved Ignasius Jonan's resignation from his position as Independent Commissioner," wrote Sido Muncul's management.

For information, Sido Muncul recorded a positive performance in 2020. They have had a "positive impact" from the COVID-19 pandemic because the demand for Sido Muncul products in the market has increased.

Sido Muncul recorded an income of IDR3.33 trillion in 2020. This figure is up 9 percent from 2019's revenue which reached IDR3.06 trillion.

Meanwhile, profit for the year attributable to the parent entity reached IDR 934 billion, growing 16 percent compared to 2019 which was only IDR 807.6 billion. In terms of total liabilities, the company owned by the 17th richest person in Indonesia also increased to reach Rp.627.77 billion, up from the previous period which was only Rp.464.8 billion.

Meanwhile, total assets in 2020 reached IDR 3.84 trillion, up 9 percent from the previous year which reached IDR 3.52 trillion. Non-current assets decreased to 1.79 trillion from 2019 which reached 1.81 trillion, while current assets increased to IDR 2.05 trillion from 2019 which reached IDR 1.71 trillion.

Meanwhile, total cash and cash equivalents also increased from 2019 which amounted to IDR864 billion to IDR1.03 trillion. Director of Sido Muncul Leonard said, Sido Muncul's performance growth reflects the increasing public demand for herbal health products to help maintain health and maintain increased body immunity.

This shows the strength of Sido Muncul's business during the pandemic. The Jamu Herbal & Supplement segment led this sales growth with an increase of 50 percent (quarter to quarter) in the fourth quarter of 2020.

The food and beverage segment also recorded double-digit growth with an increase of 12 percent in the fourth quarter of 2020 compared to the previous quarter.

Sido Muncul is a company engaged in the herbal industry such as the medical (pharmaceutical) industry, herbal, cosmetic, food and beverage related to health, trade, land transportation and services. Sido Muncul's popular products in the market include Tolak Angin and Kuku Bima Ener-G.

Irwan Hidayat himself is the Forbes richest person number 17 in Indonesia. His wealth reaches 1.55 billion US dollars, or around Rp.22 trillion.