PT Pindad Holds GMS-RKAP for Fiscal Year 2023 with DEFEND ID

PT Pindad held a General Meeting of Shareholders (GMS) to ratify the Company’s Work Plan and Budget (RKAP) with the defense industry holding DEFEND ID, PT Len Industri (Persero) and other members which are PT Dirgantara Indonesia, PT Dahana and PT PAL Indonesia on Monday, 30 January 2023 at Hotel Indonesia Kempinski, Jakarta. The event was attended by Assistant Deputy for Manufacturing Industry Liliek Mayasari, Board of Directors and Commissioners of DEFEND ID.

The event began with a presentation of RKAP for 2023 fiscal year by the CEO of PT Pindad, Abraham Mose and the submission of the proposed GMS agenda for approval.

In the RKAP 2023, PT Pindad has developed a strategic initiative workplan program in accordance with 5 priorities of the Ministry of SOEs consisting of Priority A regarding Business Model Innovation, Priority C regarding Technology Leadership, Priority D concerning on Increasing Investment, and Priority E regarding Talents Development.

PT Pindad’s 2023 RKAP also targets contracts in 2023 of IDR 18.9 T or a 10.2% growth from the 2022 pre-audit of IDR 17.1 T. Acquisition of contracts in 2023 consist of 71% coming from the defense business line and 29% from non-defense business line. PT Pindad is also targeting 2023 revenue of IDR 9.17 T or growing 42.7% from the previous year’s pre-audit of IDR 6.43 T. Revenue in 2023 consist of 61% coming from the defense business line and 39% from the non-defense business.

In terms of Financial Performance, the overall financial performance of PT Pindad RKAP 2023 has improved from the previous year’s pre-audit with details of revenue increasing by 42%, EBITDA 60.7%, Net Profit 315.7%, Total Assets 14.8%, Cash Flow from operating activities (CFO) 556%, and Equity 30.9%.

This year, the Company’s Soundness Level Managed to achieve a healthy company level score A in the 2022 pre-audit and is targeted to be healthy again A in the 2023 RKAP.

In the 2023 RKAP, PT Pindad also has several priority programs in the Environmental Social Responsibility (TJSL) sector which consist of the education sector, environmental sector, and MSME development sector.

The Board of Commissioners, represented by the Independent Commissioner, Arlan Septia, the submitted comments on PT Pindad’s Corporate Work Plan and Budget (RKAP) for the 2023 fiscal year and Social and Environmental Responsibility Budget Work Plan (RKA TJSL). Assistant Deputy for Manufacturing Industy, Liliek Mayasari as the attorney of the A series shareholder and Operations Director of PT Len Industri (Persero), Tazar Marta Kurniawan as the attorney/representative of B series shareholder then gave a response to the presentation of the CEO of Pindad.

The CEO of PT Pindad, Abraham Mose appreciates the input and responses from all parties to improve the company’s performance.

“Thank you for the response from the Board of Commissioners, A series and B series shareholders, we will continue to work hard to improve company’s performance,” said Abraham Mose.