JAKARTA - A strategic step has again been taken by PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) executives in the midst of the dynamics of the Indonesian capital market. Sido Muncul Director, Irwan Hidayat, officially increased his share of ownership in the company at the end of March 2026 as a form of long-term investment commitment.
Based on the information disclosure report submitted to the Indonesia Stock Exchange (IDX) on Friday, April 3, 2026, Irwan Hidayat purchased 500,000 shares of SIDO on March 31, 2026. The transaction was executed at a price of IDR 515 per unit, so that the total funds disbursed for this corporate action reached IDR 257.50 million. Regarding the background of the purchase, SIDO management provided an explanation through its written statement.
"The purpose of the transaction is for investment with the status of direct share ownership," the official statement said.
Before this addition was made, Irwan Hidayat was recorded to have 3,279,400 shares or equivalent to 0.011 percent.
After the transaction was completed, his personal ownership increased to 3,779,400 shares which is equivalent to 0.013 percent of the total outstanding shares.
This action followed in the footsteps of SIDO Commissioner, Johan Hidayat, who previously also added his stock collection of 300,000 shares on March 16, 2026 at a price of Rp505 per share worth Rp151.50 million, which made his ownership rise from 0.01 percent to 0.011 percent.
The increase in the ownership of the board of directors occurred amid the stable performance of SIDO's share price even though the market was broadly depressed.
At the close of trading on Thursday, April 2, 2026, SIDO's share price strengthened 0.97 percent to Rp520 after opening stagnant at Rp515. Throughout the day, SIDO shares moved in the range of Rp510 to Rp525 with a transaction volume of 133,626 shares worth Rp7 billion.
This condition is inversely proportional to the Composite Stock Price Index (IHSG) which fell freely 2.19 percent to the level of 7,026.78 due to the external sentiment of the US-Iran war and the budget deficit, where 530 shares weakened ahead of the Easter holiday.
Management optimism through this share purchase is supported by SIDO's fairly solid financial performance throughout the 2025 fiscal year.
The company managed to book sales of IDR 4.07 trillion, up 4.09 percent compared to the previous year's IDR 3.91 trillion. Although the cost of sales increased by 5.96 percent to IDR 1.71 trillion, the company was still able to secure a gross profit of IDR 2.36 trillion.
Furthermore, Sido Muncul's operating profit was recorded to grow 4.93 percent to IDR 1.54 trillion in 2025. This achievement has pushed the current year's profit attributable to the parent entity owner to rise to IDR 1.22 trillion, an increase from the 2024 period of IDR 1.17 trillion. Basic earnings per share also increased to IDR 41.36 from the previous figure of IDR 39.03.
In terms of the financial balance sheet, the company's assets were at Rp3.68 trillion with total liabilities of Rp561.44 billion.
Even though the company's equity was corrected to IDR 3.12 trillion and the cash position was at the level of IDR 462.59 billion, the consistency of profit growth showed the resilience of this herbal and pharmaceutical business in the national market. For additional information, the exchange rate of the rupiah against the US dollar in this reporting period was in the range of IDR 16,978.
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