Cimory Posts Double-Digit Profit Growth in First Half on Strong Consumer Food Sales
Main Takeaways
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JAKARTA, investortrust.id — PT Cisarua Mountain Dairy Tbk, better known as Cimory or CMRY, has reported a 23.85% increase in net profit to Rp 993.87 billion ($62.2 million) in the first half of 2025, up from Rp 802.43 billion in the same period last year, as the company continues to benefit from rising demand in its consumer food segment.
The growth in profit came on the back of rising revenue, which climbed to Rp 5.14 trillion ($321.8 million) from Rp 4.41 trillion a year earlier. Operating profit surged from Rp 874.24 billion to Rp 1.13 trillion during the January–June period, reflecting stronger margins across product categories.
The profit attributable to owners of the parent entity also grew from Rp 802.39 billion to Rp 993.80 billion, pushing Cimory’s earnings per share up from Rp 101.12 to Rp 125.24.
Cimory is a leading dairy and consumer food company in Indonesia, controlled by founder Bambang Sutantio with a 53.56% stake. Other shareholders include Axel Sutantio (6.77%), Farell Grandisuri (7.67%), Wenzel Sutantio (7.08%), and U.S.-based investment firm General Atlantic (5.64%).
According to the latest research by Sucor Sekuritas, CMRY’s 14% revenue growth was primarily driven by a 21% increase in its consumer food segment. This growth was attributed to a shift in consumer behavior toward more affordable alternatives—a trend that continues to support sales momentum.
Sucor also noted that the company’s strong performance is expected to continue, backed by planned capital expenditure of Rp 600–800 billion ($37.5–50 million) in 2025. The funds will be used to expand production and distribution capacity, with a focus on supporting high growth in the consumer food business.
Shares of PT Cisarua Mountain Dairy Tbk (CMRY) are currently trading at Rp 4,750, representing a 13.8% discount to their fair value estimate of Rp 5,405, according to InvestingPro’s average valuation model. The stock remains within its 52-week range of Rp 3,890 to Rp 5,950, suggesting moderate volatility and upside potential.
Twelve analysts have set a consensus target price of Rp 5,929, implying even greater upside compared to InvestingPro’s base model. Fair value estimates range from Rp 3,322 to Rp 7,237, with a relatively low uncertainty rating, reinforcing confidence in the valuation framework.
While the company receives strong scores for profitability, cash flow, and growth, it lags on price momentum and relative value, InvestingPro’s model showed. This indicates the stock may be undervalued by traditional metrics and is not yet reflecting its full growth potential in the market.
Cimory’s financial health is underpinned by a strong balance sheet—it holds more cash than debt, has raised dividends for four consecutive years, and maintains impressive gross profit margins. These fundamentals make CMRY a compelling pick for long-term investors seeking exposure to Indonesia’s growing consumer staples sector.
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