Kiwoom gives Kalbe Farma stock a Hold rating

Published on 10/08/2026 at 09:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue rose 14.05 percent year on year. Kalbe Farma stock costs EUR 0.04 on October 8, 2026 after EUR 0.04, unchanged.

Kalbe Farma, ID1000125107, Illustration mit AI erstellt.

Kalbe Farma (ISIN ID1000125107) was trading at EUR 0.04 at Lang & Schwarz on October 8, 2026 at 9:17 a.m. CEST, unchanged from the prior close of EUR 0.04. According to Kiwoom on October 7, 2026, the technical recommendation for KLBF was Hold, with a pivot point of IDR 755, support at IDR 745 and IDR 735, and resistance at IDR 765 and IDR 775.

Sales grow as profit declines

RMOL.ID reported on September 12, 2026 that Kalbe Farma generated IDR 19.47 trillion in net sales during the first half of 2026, up 14.04 percent from IDR 17.07 trillion in the same period of 2025. Net income fell 2.8 percent to IDR 1.91 trillion from IDR 1.97 trillion.

The combination matters for the stock because faster sales did not translate into higher profit. The report attributed the pressure to imported raw-material costs and higher operating expenses, while Kalbe reviewed investment projects originally planned at IDR 1.00 trillion.

Kiwoom keeps the chart neutral

Kiwoom's October 7 technical table placed KLBF at IDR 755, below resistance at IDR 765 and IDR 775 and above support at IDR 745 and IDR 735. That setup gives the report a defined trading range, while the Hold label avoids a directional call.

Kiwoom's separate September 10 equity update maintained a Buy recommendation and an IDR 950 target, while reporting first-half revenue growth of 14.0 percent and a 0.8 percent decline in net profit. The contrast between the fundamental target and the shorter-term Hold view reflects the gap between sales momentum and margin performance.

Next results date is set

Kalbe Farma had total assets of IDR 33.07 trillion at June 30, 2026, according to the latest reported balance-sheet data. The Indonesia-listed stock was quoted at IDR 765 on October 8, 2026, with a 52-week range of IDR 630 to IDR 1,345, market capitalization of IDR 34.6 trillion and volume of 26,881,400 shares.

Investing.com lists November 3, 2026 as Kalbe Farma's next earnings date. That date will provide the next test of whether the 14.04 percent first-half sales increase can begin to repair the 2.8 percent net-income decline.

Kalbe Farma stock stays unchanged

Kalbe Farma stock was trading at EUR 0.04 at Lang & Schwarz on October 8, 2026 at 9:17 a.m. CEST, unchanged from the prior close of EUR 0.04. The further course of trading is shown by the continuously updated real-time quote of Kalbe Farma stock.