Jakarta – Issuer that producing baby food, PT Hassana Boga Sejahtera Tbk (NAYZ) successfully held an Annual General Meeting of Shareholders (AGMS) as well as held a Public Expose in Jakarta, Monday, 22 May 2023.
One of the agendas approved at the AGMS is the approval for the use of net profit for the 2022 financial year of IDR 2.27 billion. The net profit shot up 152% of the realized net profit in 2021, which was IDR 901 million. The company will distribute dividends of 63.07% of the company’s retained earnings.
Over the past year, NAYZ recorded a net profit that skyrocketed 152% in line with revenue which also grew by 69% to Rp 42.24 billion from Rp 25.04 billion the previous year. This revenue increased due to an increase in sales from the partnership network by 33% and the distributor network by 3.764%.
Lutfiel Hakim, Main Director of NAYZ, said that the commitment to distribute dividends from the net profit was the company’s initial commitment when holding an IPO, taking into account that the company does not ignore the level of financial soundness.
“This dividend payout always considers factors of income, operational and financial conditions, liquidity conditions, capital expenditure plans, acquisition opportunities, future business prospects, and other relevant factors. This is a form of our commitment as a public company,” he said in a Public Expose in Jakarta, Monday (22/5/2023).
Meanwhile, part of the 2022 net profit has also been activated into a reserve fund to strengthen the company’s capital structure for business expansion in the coming years.
On February 6, 2023, the company’s shares were officially listed on the Indonesia Stock Exchange (IDX) with the stock code NAYZ. The company released 510 million shares or 20% of the issued and paid-up capital. The nominal value of the shares is Rp. 10 and the price offered to the public is Rp. 100 per share.
In the IPO, NAYZ also simultaneously issued 510 million series I warrants which combined the company’s new shares, or as much as 25% of the company’s issued and fully paid capital, at a price of IDR 125 per share. The warrant exercise period is 6 months, valid from 7 August 2023 to 5 February 2024.
2023’s Prospect
Lutfiel said that in the 2023 business year, the company will be more efficient and will cooperate with several parties to achieve the target. The company will increase the capacity of 3,000 resellers by partnering with various parties, including the government and private parties.
The company will also carry out broader market development activities, especially general and modern trading. “We will also add sales channels by collaborating with other communities or entering the product export segment. With the predetermined target formulation, we hope to increase revenue and achieve the targets set since our initial IPO.”
On that occasion, NAYZ Director of Finance Mohamad Zulkarnain added, fundamentally, the company has a solid balance sheet where assets increased to IDR 38.77 billion from December 2021 valued at IDR 29.31 billion.
“Debt to equity ratio (DER) is still at a controlled level of 0.58 times,” said Mohamad.
Furthermore, Lutfiel outlined several sentiments that could support the company’s business, including the still large population and the positive trend of penetration of homemade porridge (MPASI) in Indonesia.
Referring to data from the Central Statistics Agency (BPS), until 2035, Indonesia’s population is expected to experience a very large population growth, adding 67 million people or 28% from 2010-2035. The BPS data shows that the population in Indonesia has continued to increase in the last 4 years and the average number of babies born per year until 2020 is around 4.79 million births.
“We have a different and unique positioning, as MPASI which can be cooked from home (homemade), but also provides added value in the form of organic and fortified ingredients that are sufficient for baby micronutrients.”
Meanwhile, the market size of self-made MPASI porridge per year in Indonesia has a positive trend which is projected to have a market share of IDR 15.9 trillion in 2025. strong for the development of the company in 2023.”