FINANCIAL PERFORMANCE THROUGH COVID 19 PANDEMIC AND CURRENT STOCK VALUATION OF PT KINO INDONESIA TBK
The COVID-19 pandemic significantly disrupted the global Fast-Moving Consumer Goods (FMCG) sector, impacting consumer behavior, supply chains, and profitability. This study, titled "Financial Performance Through COVID-19 Pandemic and Current Stock Valuation of PT Kino Indonesia Tbk," evalu...
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| Format: | Theses |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/87372 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | The COVID-19 pandemic significantly disrupted the global Fast-Moving Consumer Goods (FMCG) sector, impacting consumer behavior, supply chains, and profitability. This study, titled "Financial Performance Through COVID-19 Pandemic and Current Stock Valuation of PT Kino Indonesia Tbk," evaluates the pandemic's impact on PT Kino Indonesia Tbk’s financial health, stock valuation, and competitiveness, while proposing strategies for sustainable growth.
Using a mixed-method approach, the study incorporates external analysis through the PESTEL framework and Porter’s Five Forces to examine macroeconomic and competitive factors. Internal analysis evaluates financial ratios such as Current Ratio (liquidity), Net Profit Margin (profitability), and Debt Ratio (solvency). The Discounted Cash Flow (DCF) method calculates intrinsic stock value, complemented by relative valuation against industry peers like Unilever and Indofood, using financial data from 2019 to 2023.
The results reveal significant disruptions. Liquidity declined as the Current Ratio dropped from 1.35 (2019) to 0.83 (2023). Profitability plummeted, with Net Profit Margin falling from 11.02% (2019) to -26.17% (2022) before recovering slightly to 1.87% (2023). Solvency weakened as the Debt Ratio rose from 23.44% (2019) to 49.46% (2022), driven by increased reliance on debt. The DCF analysis indicated undervalued shares during the pandemic, a finding confirmed by relative valuation. The pandemic accelerated shifts in consumer preferences toward health and hygiene products while straining supply chains and increasing raw material costs. These challenges led to declining margins in high-value segments and a need for operational adaptation. To address these issues, the study proposes digital transformation to improve efficiency and expand online sales, product innovation to meet evolving consumer needs, and cost optimization to enhance financial resilience.This research provides a comprehensive evaluation of the pandemic’s impact on PT Kino Indonesia Tbk, situating its findings within the broader FMCG sector recovery.
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