Vriddhi Consulting

Punit Khanna

Focused on Asian Small-mid cap market space with long term investment horizon.

Primer: Uni-Charm Indonesia Tbk PT (UCID IJ) - Oct 2025

Independent Insight Provider

Equity Bottom-Up

Uni-Charm Indonesia Tbk PT / Equity Bottom-Up

<ul>
<li>Company incurred a loss of 90 bn Rupiah in 3rq quarter or loss of 21.6 Rupiah per share. </li>
<li>Even though sales have declined for the first 9 months - inventory and receivables have increased indicating stress in working capital. </li>
<li>GP Margin is flat, selling expense as %ge of sales have increased as we think company is pushing economy products to compete with local players and maintain market share</li>
</ul>
    <div class="content-highlight">
    <h2>Raising Money for Persons with Disabilities in Singapore</h2>
    <p><strong><em>For your kind consideration</em></strong></p>
    <p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
    <p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
    <p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a> </p>
    </div>
    


Company incurred a loss of 90 bn Rupiah in 3rq quarter or loss of 21.6 Rupiah per share. 
Even though sales have declined for the first 9 months - inventory and receivables have increased indicating stress in working capital. 
GP Margin is flat, selling expense as %ge of sales have increased as we think company is pushing economy products to compete with local players and maintain market share

    
    Raising Money for Persons with Disabilities in Singapore
    For your kind consideration
    This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
    All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
    To contribute, please visit this URL. 
    
    

Unicharm Indonesia: 3rd Quarter Results: Bit Disappointing But