Sido Muncul stock trades at IDR 354 as recovery builds

Published on 10/07/2026 at 00:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sido Muncul stock traded at IDR 354 on October 6, 2026, while first-half revenue fell 19.8 percent year over year. Twelve analysts rate it Hold.

Sido Muncul, ID1000130305, Illustration mit AI erstellt.

Sido Muncul (ISIN ID1000130305) was last at IDR 354 on the IDX on October 6, 2026, up 0.57 percent on the session. The stock remains 32.57 percent below its level of a year earlier as the company works through a distributor inventory reset.

Recovery follows a weak first half

According to Kontan on October 1, 2026, sales began returning to normal from July after the inventory adjustment at distributors. Management said the adjustment weighed on first-half reported sales but did not represent weaker end-consumer demand.

First-half 2026 sales fell 19.8 percent year over year to IDR 1.47 trillion, while net income dropped 44.4 percent to IDR 333.65 billion, according to Kontan on September 10, 2026. The comparison is material for investors because the revenue decline was less severe than the earnings decline, pointing to operating pressure beyond volume alone.

Herbal sales drive the earnings pressure

The herbal and supplement segment fell 41 percent to IDR 639 billion in the first half, while food and beverages increased 11 percent to IDR 760 billion and pharmaceuticals rose 7 percent to IDR 67.4 billion, Kontan reported on September 9, 2026. Gross margin moderated to 51 percent as the lower-margin food and beverage mix expanded.

Management is targeting third-quarter and fourth-quarter performance at least in line with the comparable periods of 2025. That recovery thesis depends on distributor stocks normalizing and on the herbal business rebuilding volume, while raw-material costs remain a margin factor.

Analysts see value above IDR 488.09

StockAnalysis lists a Hold consensus from 12 analysts, with an average price target of IDR 488.09. That target lies 37.88 percent above the IDR 354 price on October 6, 2026, making the recovery in reported earnings the central valuation test.

The market capitalization was IDR 10.4 trillion on October 6, 2026. Sido Muncul operates in healthcare through herbal remedies, consumer health products, cosmetics, and food and beverage offerings.

SIDO stock holds at IDR 354

Sido Muncul stock was last at IDR 354 on the IDX on October 6, 2026, with volume of 13,826,700 shares and a daily gain of 0.57 percent. The next market signal is whether second-half sales recovery can narrow the gap between the depressed earnings base and the analyst target.