Company Report

Company Report

27 April 2026

XA Update Report | PT Indofood Sukses Makmur Tb...

Agribusiness leads the charge. The standout performer was Agribusiness, which surged +3...

Company Report

27 April 2026

XA Update Report | PT Astra International Tbk. ...

FY25 Revenue Ducked Down But HEMCE Slipped Pass Automotives. ASII revenue experienced a...

20 April 2026

XA Update Report | Pakuwon Jati Tbk. (PWON) — Recurring Revenue Propels Growth

Pakuwon Jati (PWON) reported a 7% YoY increase in revenue for FY25 to IDR 7.11 trillion with net profit margin improving to 35.4%.

17 April 2026

XA Update Report | PT Samudera Indonesia Tbk. (SMDR) — In-line With Our Top-line Forecast, Bottom-line Pressured Lower Than Anticipated

We maintain our BUY rating on SMDR with an upgraded TP of IDR 500 (Previously IDR 400) because of the geopolitical uncertainties primarily capitulated by the US-Iran-Israel conflict disrupting maritime traffic and causing rising shipping logistic fees.

15 April 2026

XA Update Report | PT Dayamitra Telekomunikasi Tbk. (MTEL) – Stable Despite Slow Growth, Fiber Lends Support in FY25

MTEL closed FY25 with revenue reaching IDR 9.53T, increased by 2.4% YoY (FY24: IDR 9.31T). On a quarterly basis, MTEL's revenue in 4Q25 increased by +16.1% QoQ and +9.8% YoY to IDR 2.65T (3Q25: IDR 2.28T | 4Q24: IDR 2.41T).

9 April 2026

XA Research Short Notes | Bank Central Asia Tbk. (BBCA) – Quick Update About Current Condition of BBCA

Solid fundamental despite headwinds. Macroeconomic and geopolitical conditions cause economic uncertainty which makes BBCA currently more focused on maintaining asset quality than loan growth.

9 April 2026

XA Update Report | PT ITSEC Asia Tbk. (CYBR) – Profitability Inflection Complete — Entering AI-Assisted Scalable Growth

CYBR completed its profitability turnaround and is now on a structurally stronger, AI-assisted growth trajectory. The combination of expanding margins, an integrated ecosystem, and growing institutional relevance across enterprise and consumer segments underpins our conviction.

XA Update Report | PT Indofood Sukses Makmur Tb...

XA Update Report | PT Astra International Tbk. ...

XA Update Report | Pakuwon Jati Tbk. (PWON) — Recurring Revenue Propels Growth

XA Update Report | PT Samudera Indonesia Tbk. (SMDR) — In-line With Our Top-line Forecast, Bottom-line Pressured Lower Than Anticipated

XA Update Report | PT Dayamitra Telekomunikasi Tbk. (MTEL) – Stable Despite Slow Growth, Fiber Lends Support in FY25

XA Research Short Notes | Bank Central Asia Tbk. (BBCA) – Quick Update About Current Condition of BBCA

XA Update Report | PT ITSEC Asia Tbk. (CYBR) – Profitability Inflection Complete — Entering AI-Assisted Scalable Growth

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