Sido Muncul stock holds near its 52-week low as sales reset continues

Sido Muncul stock was last at IDR 346 on October 2, 2026, near its 52-week low of IDR 344. First-half sales fell 20% year over year, while management sees normalization.

Sido Muncul stock was last at IDR 346 on the Jakarta Stock Exchange on October 2, 2026, unchanged from the prior session and only IDR 2 above its 52-week low of IDR 344. The latest company update points to a recovery debate after distributor inventory adjustments depressed first-half results.

Sales reset reaches its next phase

According to Kontan on October 1, 2026, management said sales began returning to normal from July after inventory adjustment at distributors. August sales reached IDR 360 billion, while distributor inventory had fallen to 18 days.

The latest reported period remains the first half of 2026. ANTARA reported net sales of IDR 1.47 trillion, down 20% year over year, while net income reached IDR 334 billion with a 23% net margin. That comparison defines the scale of the reset.

Export growth offsets herbal weakness

The business mix is uneven. Herbal and supplement sales fell 41% to IDR 639 billion in the first half, while food and beverage sales rose 11% to IDR 760 billion and pharmaceutical sales increased 7% to IDR 67.4 billion, according to Kontan.

Export sales provided a counterweight, growing 28% year over year and contributing 13% of total sales in the first half of 2026, ANTARA reported. The company also maintained a 71% market share for Tolak Angin, giving the recovery case a branded-product anchor.

Stock trades near yearly low

Sido Muncul stock had a 52-week range of IDR 344 to IDR 585 on October 2, 2026, with volume of 14,134,200 shares. Its market capitalization stood at IDR 10.2 trillion on the same date, putting the unchanged price close to the bottom of its annual range.

The analyst consensus is Hold, based on 12 analysts, with an average 12-month price target of IDR 488.09. The target is 41.07% above the IDR 346 reference price, while the published high and low estimates are IDR 735 and IDR 330, respectively, according to Stock Analysis updated October 3, 2026.

Sido Muncul stock facts

• Company: PT Industri Jamu dan Farmasi Sido Muncul Tbk
• Ticker: SIDO
• Trading venue: Jakarta Stock Exchange
• Price as of October 2, 2026: IDR 346, last at 4:14 p.m. WIB
• Market capitalization: IDR 10.2 trillion (as of October 2, 2026)
• 52-week range: IDR 344-IDR 585 (as of October 2, 2026)
• Sector / Industry: Healthcare / Pharmaceuticals