Indo-Rama Synthetics Reports Decrease in Net Profit for Fiscal Year 2022

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Indo-Rama Synthetics Tbk (INDR), a leading yarn manufacturer, reported a net profit of USD42.23 million for the fiscal year 2022. This marks a decline from the previous year's net profit of USD84.56 million.

According to information disclosed on the Indonesia Stock Exchange (IDX) website on Tuesday (21/2), the company's net revenue increased by 5.88% from USD884.10 million in 2021 to USD936.14 million in 2022, which was the main factor behind the net profit growth.

However, during the same period, INDR's cost of goods sold increased by 13.38% from USD754.33 million in 2021 to USD855.33 million in 2022. As a result, the company's gross profit for 2022 was USD80.81 million, down from USD129.77 million in 2021.

The company's pre-tax profit for 2022 was USD51.98 million, a decrease from USD100.87 million in 2021.

In addition, INDR's net profit for the fiscal year ending on December 31, 2022, was USD42.23 million, compared to USD84.56 million for the same period in 2021.

Meanwhile, the company's comprehensive income attributable to shareholders for the fiscal year ending on December 31, 2022, was USD42.85 million, an increase from USD83.82 million in 2021.

As of December 31, 2022, INDR's liabilities decreased to USD404.64 million from USD441.64 million on December 31, 2021. The company's total equity as of December 31, 2022, was USD465.15 million, an increase from USD463.85 million on December 31, 2021.


Indo-Rama Synthetics Tbk (INDR) is a leading yarn manufacturer based in Indonesia. The company was founded in 1975 and has since grown to become one of the largest polyester producers in Southeast Asia.

INDR's product portfolio includes a wide range of polyester yarns, including partially oriented yarn (POY), fully drawn yarn (FDY), and polyester staple fiber (PSF). The company's yarns are used in a variety of applications, such as apparel, home textiles, industrial textiles, and automotive textiles.

The company operates two manufacturing facilities in Indonesia, located in Purwakarta and Karawang. INDR also has a strong presence in India, where it operates several manufacturing facilities and has a joint venture with Reliance Industries Ltd.

INDR's commitment to quality is reflected in its ISO 9001:2015 certification for quality management systems. The company is also committed to sustainable manufacturing practices and has received the OEKO-TEX® Standard 100 certification, which ensures that its products are free from harmful substances.

In addition to its core business of yarn production, INDR also operates a subsidiary called PT Indorama Ventures Olefins Tbk, which produces polyethylene and polypropylene resins. The company also has investments in the energy and infrastructure sectors.

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