PT Chemstar Indonesia Tbk (IDX:CHEM) is optimistic that the company's performance can be maintained until the end of the year, due to the improving performance of the textile and textile products (TPT) industry by Rp 34.51 trillion or 12.45 percent. CHEM's Corporate Secretary, Akbar Rasjid, said that by looking at the financial report data in the first quarter of this year, he was optimistic that the company's performance could be maintained until the end of the year. "We can maintain until the end of the year the same figure. This is because, at this time, the recovery from the Covid-19 pandemic has begun to be felt by business people.” Wenty said in a written statement (10/8/22).

Clearly, issuers producing chemicals for the textile industry during the first quarter of 2022 recorded an increase in sales of Rp. 32.4 billion or up to 43 percent.

Meanwhile, based on the Company's Q1 2022 financial statements, the Company's operating profit increased by 42 percent compared to the same period last year from Rp. 2.3 billion to Rp. 3.2 billion, while gross profit also increased from Rp. 7 billion in March 2021, to Rp. 10.5 billion, up 49 percent. On the other hand, the asset value increased by 20 percent from Rp. 86.2 billion to Rp. 103.6 billion.

He added that until now the use of funds from the Initial Public Offering (IPO) has been absorbed about 30 percent. Where the funds were used to buy land in Jatiluhur, Purwakarta, West Java, covering an area of ​​5,360m2.

"Approximately 30 percent, mainly for buying land and buildings in Jatiluhur Purwakarta. The building is also used for factories and offices.” Wenty said.

The monthly production capacity for liquid reaches 10,000 tons and powder reaches 600 tons. Meanwhile, its utilization reaches 50 percent.