Kalbe Farma plans IDR 500 billion buyback: Kiwoom targets Kalbe Farma stock at IDR 950

Published on 10/07/2026 at 10:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 14.05 percent in the first half of 2026. Kalbe Farma stock costs EUR 0.04 on October 7, 2026 after EUR 0.04, plus 0.00 percent.

Kalbe Farma, ID1000125107, Illustration mit AI erstellt.

Kalbe Farma (ID1000125107) was trading at EUR 0.04 at Lang & Schwarz on October 7, 2026, unchanged from the prior close, as the company moved ahead with an IDR 500 billion share buyback. Pasardana reported on September 15, 2026 that the repurchase period runs from September 16 to December 16, 2026. Kiwoom maintained a Buy recommendation and an IDR 950 target for the stock in its September 10, 2026 report.

Buyback meets a pressured margin

The repurchase is set against a mixed first-half operating picture. Kontan reported that revenue reached IDR 19.48 trillion in the first half of 2026, up 14.05 percent year over year. Distribution and logistics led the segment expansion, with revenue up 26.62 percent to IDR 7.20 trillion.

Profitability moved in the opposite direction. Gross profit margin fell to 37.56 percent from 41.14 percent in the first half of 2025, while net income declined 2.74 percent to IDR 1.97 trillion. The comparison matters because sales growth has not yet translated into equivalent earnings growth.

Imported costs shape the outlook

ANTARA reported on September 11, 2026 that imported raw materials and rupiah weakness were still pressuring margins through 2026. Kalbe said it would selectively raise prices on some consumer products and shift its portfolio toward products with better margins.

The business remains broad-based. In the first half of 2026, prescription drug revenue reached IDR 5.30 trillion, consumer health IDR 2.70 trillion, nutrition IDR 4.26 trillion, and distribution and logistics IDR 7.20 trillion. That mix gives revenue several growth channels, but the faster expansion of distribution also carries a margin trade-off.

Stock stays below its yearly high

Kalbe Farma stock was trading at EUR 0.04 at Lang & Schwarz on October 7, 2026 at 10:34 a.m. CEST, plus 0.00 percent versus the Lang & Schwarz prior close of EUR 0.04 on October 6, 2026. On the Jakarta Stock Exchange, the stock was quoted at IDR 760.00, while its 52-week range was IDR 630.00 to IDR 1,345.00 as of October 7, 2026. The next earnings date listed by Investing.com is November 3, 2026.
The further course of trading is shown by the continuously updated real-time quote of Kalbe Farma stock.