Today listed company analysis goes to PT Supra Boga Lestari Tbk (RANC). For you who don’t know what is this company. I give you a clue, If you ever visit or buy some groceries at Farmers Market and Ranch Market stores or when you only passing by in Grand Indonesia to go across the west mall. This is the company which is listed in IHSG by the code “RANC”.

Supra Boga Lestari of Series 47

PT Supra Boga Lestari Tbk have the top quality of the Jakarta’s supermarket based on the freshness of the products, and customer’s experience on the store. You could really amuse and comfort shopping here. RANC supply and distribution channel is really great, that’s why the price of items in here is quiet higher than the other local supermarket.

Supra Boga Lestari Branches of Series 47

Jakarta Branches:
Ranch Market Grand Indonesia Shopping Town,
Ranch Market Pondok Indah, Ranch Market Dharmawangsa Square,
Ranch Market Kemang, Ranch Market Oakwood,
Ranch Market St Moritz, Ranch Market Pesanggrahan
Farmers Market Mall Kelapa Gading,
Farmers Market Sumarecon Mall Serpong, Farmers Market Epicentrum,
Farmers Market Cikarang Citywalk, Farmers Market Kalibata Square

Surabaya Branches:
Ranch Market Galaxy Mall,
Ranch Market ICBC Center (Basuki Rahmat)

IPO of Supra Boga Lestari

Initial public offering shares is 312.897.500 shares with par value at IDR 100. Underwriter by PT Kresna Graha Sekurindo Tbk (Kresna Securities), and several more. Initial plan of RANC from IPO are to allocate the 21% to settle the debt to CIMB Niaga about IDR 30 Billion, then 60% for investing in opening several store branches at Balikpapan, Tangerang, Bogor, Bekasi and 19% for operating expenses.

Authorized Shares Supra Boga Lestari

In 1Q2020 revenue increased about 33.17% to IDR 782.17 B from IDR 587.32 B on yoy 2019. Net income from IDR 11.88 B in 2019 and now IDR 22.88 B. Top contributor from groceries segment 57.10% and the rest from fresh produce about 42.90%.

Key Financial Statistics of RANC in IDR:

Balance Sheet

Cash: 385,3 B
Total Asset: 1292,4 B

Short Term Debt: 515,9 B
Long Term Debt: 234,6 B
Total Equity: 541,9 B

Income Statement

Revenue 782,2 B

Gross Profit 205,6 B
Operating Profit 21,8 B

Net Profit : 22,9 B
Interest Expense 4,4 B

Earnings Per Share 14.30
Price Earnings Ratio 30.91x
Book Value Per Share 346,35
Price to Book Value 1.28x
Return on Asset 1,77%
Return on Equity 4,22%
Enterprise Value/EBITDA 21,16
Debt/Equity 1.39
Debt/Total Capital 0.58
Debt/EBITDA 15.03
EBITDA/Interest Expense 11.25

Several highlight of RANC in 2020:

  • In 2020 will building 10 more stores, 2 Ranch Market in Jakarta and 8 Farmers Market in Jakarta, Dumai, and Palembang.
  • Capital Expenditure IDR 132 B from internal company will be used for opening new stores, renovation and upgrade on information and system technology for distribution center.
  • Target net income 2020 IDR 280 B, which only been realized 22.9 B on the first quarter of 2020 or about 8.1%.
  • Cash Dividend IDR 28/shares in total IDR 43.8 B for 2019 performance will be held in August 2020, details below.

Current Target Price for RANC:

Hopemity – Buy Rating – 460.

PT Supra Boga Lestari Tbk Dividend
-Cum Dividend in Regular Market and Negotiate at 4 August 2020 ;
-Ex Dividen in Regular Market and Negotiate at 5 August 2020;
-Cum Dividen in Money Market at 6 August 2020 ; and
Recording date at 6 August 2020, (if you want to get the dividend, this is the day);
-Ex Dividen in Money Market at 7 August 2020;
-Distribution date at 27 August 2020.

RANC is good for short term carry, sell at recording date. Buy now at IDR 440/share. Have a good rest!

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