PT Madusari Murni Indah Tbk

MOLI.JK

Chemicals · Basic Materials

Price

284.00 IDR

-4.00 (-1.39%)

Market Cap

773.63B IDR

Exchange

Indonesia Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Strong

Cash Flow

Exceptional

Stability

Good

Valuation

Good

Dividends

Mixed

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Winston Score History

The full picture

PT Madusari Murni Indah Tbk is an Indonesian company that produces ethanol and alcohol-based chemicals. It makes industrial ethanol, food-grade alcohol, and related byproducts, selling to customers in industries like food and beverage, pharmaceuticals, cosmetics, and manufacturing. The company is one of Indonesia's key domestic producers of ethanol, sourcing its raw materials primarily from sugarcane molasses.

The company earns money by selling ethanol and alcohol products directly to industrial buyers, operating mainly within Indonesia. With a gross margin around 30%, it benefits from being a domestic supplier in a market where imported alternatives face tariffs and logistics costs — giving it a degree of pricing protection. Its main growth driver is rising demand for industrial and pharmaceutical-grade alcohol across Southeast Asia, but its key risk is exposure to sugarcane molasses prices, which can fluctuate significantly and squeeze production costs when agricultural conditions are poor.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+23.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+177.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

0 IDR/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

93.2%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

159.6B IDR cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

PT Madusari Murni Indah Tbk is a rare growth stock that's already generating positive cash flow while growing at 24%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 2.72B (2021) → 2.72B (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

32.7%

Modest — 32.7% gross margin

Profit after running costs

Operating Margin

13.0%

Healthy — 13.0% operating margin

Return on the money invested

ROCE

13.8%

Good — 13.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+5.9%

Slow sales growth (+5.9% YoY)

Profit growth

EPS YoY

+399.7%

Earnings growing fast (+399.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

357%

Turns 357% of profit into real cash

Spare cash per sale

FCF Margin

23.1%

Converts sales into free cash efficiently (23.1%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

44.28x

Comfortably covers interest (44.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

6.5x

Attractive valuation — P/E 6.5

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

2.78%

Moderate income — 2.78% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

N/A

Data not available

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