MSCI consultation hits ESSA Industries Indonesia stock after 15 percent fall

Published on 10/19/2026 at 10:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ESSA fell 15 percent on October 16, 2026 as MSCI opened a review. For ESSA Industries Indonesia stock, H1 revenue was USD 186.5 million.

Company results and market dates

On October 15, 2026, MSCI opened a consultation after ESSA fell 15 percent on October 16, 2026.
For the first half of 2026, revenue reached USD 186.5 million and net profit attributable to owners reached USD 30.2 million.
ESSA Industries Indonesia stock stood at IDR 464.00 on October 19, 2026 at 3:45 p.m. WIB on the Indonesia Stock Exchange.

ESSA Industries Indonesia, ID1000122203, Illustration mit AI erstellt.

ESSA Industries Indonesia (ISIN ID1000122203) fell 15 percent to IDR 476.00 on October 16, 2026, as MSCI opened a consultation on changing Indonesia's market classification, Kompas TV reported. The proposal is not a final decision, but the timing connected a sharp ESSA decline with wider concerns about Indonesian market access.

Three dates frame the move

ESSA's first-half results for the period ended June 30, 2026 showed revenue of USD 186.5 million, up 34.8 percent year over year, and net profit attributable to owners of USD 30.2 million, up 100 percent, according to the company's investor-relations page dated July 28, 2026, ESSA. On October 13, 2026, Ciptadana Sekuritas Asia set a target of IDR 620.00 after citing a consolidation zone of IDR 580.00 to IDR 600.00, as reported by Bareksa. On October 15, 2026, MSCI announced the consultation, and ESSA closed at IDR 476.00 on October 16, 2026.

What does the profit rise mean?

The operating backdrop gives the market a counterweight to the selloff. First-half revenue rose by USD 48.5 million from USD 138.0 million in the first half of 2025 to USD 186.5 million in the first half of 2026, while net profit attributable to owners doubled from USD 15.0 million to USD 30.2 million, according to ESSA's reported figures. The immediate risk is market access: the MSCI consultation runs until April 30, 2027, with a final decision scheduled by June 30, 2027, according to Kompas TV.

Next reporting date matters

The next earnings report is scheduled for October 27, 2026, according to Investing.com. That release may help investors assess whether the first-half improvement continued into the September quarter.

Stock remains tied to market access

ESSA Industries Indonesia stock stood at IDR 464.00 on the Indonesia Stock Exchange on October 19, 2026 at 3:45 p.m. WIB. The quote was below the 52-week high of IDR 995.00 and above the 52-week low of IDR 444.00, while market capitalization stood at IDR 8.0 trillion on the same date.