Sri Rejeki Isman (Sritex): Indonesia's Largest Textile and Garment Producer
Indonesia Investments has added the company profile of Sri Rejeki Isman, better known as Sritex, in the Indonesian Companies section. Sritex is a vertically integrated textile and garment producer in Indonesia. The company, Southeast Asia’s largest textile manufacturer, has four production units: spinning, weaving, dyeing and garment. Sritex manufactures yarn, greige, fabrics and apparel that are sold to textile producers and retailers in 55 countries across the globe.
The company targets revenue amounting to IDR 5.14 trillion (USD $450.9 million) by the end of 2013 from IDR 4.1 trillion (USD $359.6 million) in 2012. Net profit is expected to rise to IDR 326 billion (USD $28.6 million) from IDR 229 billion (USD $20.0 million) in 2012.
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Financial Highlights of Sritex:
| 2010 | 2011 | 2012 | |
| Revenue |
2,214.2 | 2,317.5 | 2,851.0 |
| Gross Profit | 382.5 | 460.9 | 617.7 |
| Operating Income | 271.4 | 360.1 | 461.8 |
| Income before Tax | 190.9 | 219.1 | 307.1 |
| Net Income | 142.2 | 161.5 | 229.3 |
| Total Assets | 2,115.5 | 2,747.2 | 3,553.8 |
| Total Liabilities | 1,409.2 | 1,653.1 | 2,230.3 |
| Earnings per Share¹ | 10,94 | 12,43 | 17,65 |
in billion of IDR rupiah except otherwise stated
¹ in IDR rupiah
Source: Sri Rejeki Isman, Statements of Comprehensive Income Years Ended December 31, 2012, 2011 and 2010
Future Projection Financial Highlights of Sritex:
| 2012 | 2013F | 2014F | 2015F | |
| Net Income | 229.3 | 325.0 | 446.0 | 599.0 |
| Earnings per Share¹ | 17,65 | 20 | 24 | 32 |
| P/E Ratio | 14,2 | 12,5 | 10,4 | 7,8 |
in billion of IDR rupiah except otherwise stated
¹ in IDR rupiah
Source: Investor Daily & Bahana Securities