External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Equity Bottom-Up

PT Nippon Indosari Corpindo Tbk. (ROTI) / Equity Bottom-Up

PT Nippon Indosari Corpindo Tbk. (ROTI) (ROTI IJ)

<ul><li>Post the tepid FY23 results, ROTI aims to focus on profitability in 2024 onward amid fewer catalysts for purchasing power in 2Q24 onward</li><li>We lowered our FY24/25F net profit estimates by 11%/2.4% due to lower volume estimates and a higher return rate</li><li>Maintain Buy with a lower TP of Rp1,400. Expect improved performance in the upcoming quarters to act as catalyst for the stock.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Post the tepid FY23 results, ROTI aims to focus on profitability in 2024 onward amid fewer catalysts for purchasing power in 2Q24 onwardWe lowered our FY24/25F net profit estimates by 11%/2.4% due to lower volume estimates and a higher return rateMaintain Buy with a lower TP of Rp1,400. Expect improved performance in the upcoming quarters to act as catalyst for the stock.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Nippon Indosari Corpindo - FY24 Outlook: Focusing on Profitability