Adiwarna Anugerah Abadi Has Secured Work On Projects Worth A Total Of IDR 270 Billion

President Director of PT Adiwarna Anugerah Abadi Tbk (NAIK), Johannes. (Photo: Special)

JAKARTA - PT Adiwarna Anugerah Abadi Tbk (NAIK) has secured a project contract worth IDR 267 billion until February 28, 2024. This achievement, according to the President Director of Adiwarna Anugerah Abadi, Johannes, is approaching the target set by the company.

In an effort to increase revenue, Johannes continued, NAIK optimizes marketing strategies by increasing participation in project tenders and maximizing sales and digital marketing teams, including the use of Google Search and social media.

"In terms of operations, the company applies strict supervision of project quality and work efficiency with the support of various ERP applications for finance, stock, project control, and human resources (HR)," he said during a media meeting, Thursday, March 13.

Not only that, but NAIK also expands and diversifies products, such as adding water tank products as well as developing hydrant and sprinkler projects. Previously, the company relied on other parties for the product, but now NAIK has become its own distributor. In addition, the collaboration with Grundfos in the procurement of pump-up plumbing also expanded product choices for customers.

In the face of competition in the industry, NAIK focuses on the high-end industry segment, where competition is more aimed at foreign companies like those from Korea. The company also considers that major projects are mostly worked on by international players, so NAIK sees an opportunity to continue to strengthen its position in the domestic market.

With high optimism, NAIK is also targeting an increase in the number of projects in the first quarter of 2024. If this positive trend continues, it is possible that the 2025 revenue target could exceed the expectations set out in the prospectus.

NAIK's share price experienced a significant increase from Rp105 when the IPO was around Rp600 at this time. Management considers this a form of market enthusiasm for the company's business fundamentals.

"Regarding dividend distribution, NAIK plans to allocate around 25-50 percent of the profit, with the exact figure to be determined later in the GMS decision," concluded Johannes.