Adaro Andalan reports zero exploration: target for Adaro Andalan Indonesia stock is IDR 14,300

Published on 10/16/2026 at 11:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Five subsidiaries reported zero October exploration spending on October 13, 2026. UOB targets Adaro Andalan Indonesia stock at IDR 14,300.

Cash, earnings and analyst view

Five subsidiaries reported zero October exploration spending on October 13, 2026.
UOB Kay Hian set an IDR 14,300 target on October 5, 2026 after forecasting 48.00 percent profit growth.
Adaro Andalan Indonesia received USD 734.83 million after tax from the Kestrel sale on October 1, 2026.

Adaro Andalan Indonesia, ID1000207509, Illustration mit AI erstellt.

Adaro Andalan Indonesia (ISIN ID1000207509) reported that five subsidiaries recorded zero exploration spending during October 2026. The disclosure dated October 13, 2026 adds an operating detail to a stock story increasingly shaped by the completed Kestrel divestment and the prospect of shareholder distributions.

According to Bloomberg Technoz on October 13, 2026, PT Laskar Semesta Alam, PT Paramitha Cipta Sarana, PT Semesta Centramas, PT Adaro Indonesia and PT Mustika Indah Permai reported no exploration activity or spending for the month. PT Pari Coal also reported zero spending while considering further exploration.

Three dated company developments

The chronology shows how the investment case has shifted. On October 1, 2026, Adaro Capital Limited completed the sale of 720,385,220 Kestrel shares, equal to 47.99 percent of the holding, for net proceeds of USD 734.83 million, according to KabarBursa. On October 5, 2026, IDXChannel reported that UOB Kay Hian raised its target to IDR 14,300 and forecast 48.00 percent net-income growth for 2026. On October 13, 2026, the exploration report became the latest dated operating update.

What does the target mean for earnings?

The analyst view rests on cash conversion rather than exploration growth. UOB Kay Hian also identified the possibility of a special dividend above IDR 1,450 per share after the Kestrel transaction, while the sale included potential contingent cash consideration of up to USD 550 million over five years, according to IDXChannel and KabarBursa.

Operating performance supplied a second anchor in the first half of 2026. Revenue reached USD 2.54 billion versus USD 2.40 billion in the first half of 2025, while net income attributable to owners rose to USD 473.77 million from USD 428.68 million. Total assets stood at USD 6.32 billion on June 30, 2026, according to KabarBursa.

Cash allocation is the key question

The Kestrel proceeds give management three stated uses: domestic expansion, dividends and partial repayment of group borrowings. The October exploration update points to a measured capital-spending profile in several subsidiaries, while the first-half figures show that earnings and assets were already expanding before the divestment.