PT PYRIDAM FARMA Tbk

Valuasi Berbasis Laba

(Dalam Jutaan Rupiah)

Data Jumlah Keterangan

Risk Free Rate 2.50% BI 7 Day Reverse Repo Rate
Market Return 2.21% IHSG
Return Saham Merck 0.55% Return Saham Merck di IDX
Beta 0.6 Asumsi
CAPM 2.33% Rumus CAPM

Discount Rates for residual income 2.33%

Valuations Of PT PY
Derive the Projected Residual
(Rupiah amount in milli

Common shareholders's equity at beginning of year (denoted BV t-1)

Comprehensive income available for common shareholders (denoted Cit)
Required Income (Re*BVt-1;RE=1,27%)

Residual Income [Cit-(Re*BVt-1)]

Residual Income 6 = [ CI5*(1+g) ] -(Re*BV5)

Residual Income 6 IDR 34,983,442,544
 Valuations Of PT PY
Present Value of residual inc
(Rupiah amount in milli

Common shareholders's equity at beginning of year (denoted BV t-1)

Comprehensive income available for common shareholders (denoted Cit)

Required Income (Re*BVt-1;RE=1.,27%)

Residual Income [Cit-(Re*BVt-1)]
Present Value Factors (Re=1,27%)
Presen Value of residual income
Sum of present value of residual income year+1-year+5

Continuing Value IDR 34,983,442,544

Present Value of continuing value IDR (5,108,507,070,252)

IDR 163,067,170,838
Present values residual income year+1 through year+5
Present value of continuing value in year+6 and IDR (5,108,507,070,252)
beyond
Total present value of residual income IDR (4,945,439,899,414)
Book Value of equity IDR 53,508,000,000
Present value common shareholders' equity ( before
IDR (4,891,931,899,414)
midyear discounting)
Midyear discounting adjustment factor IDR 1
Total present value of common shareholders
IDR (4,901,471,166,618)
equity
Divide by share outstanding IDR 448,000,000
Estimated value per share IDR (10,919)
 PT PYRIDAM FARMA Tbk
Valuasi Berbasis Laba
(Dalam Jutaan Rupiah)

Keterangan Tanggal
Reverse Repo Rate MAY 2021
IHSG MAY 2021
aham Merck di IDX MAY 2021
Asumsi MAY 2021
umus CAPM MAY 2021

Valuations Of PT PYRIDAM FARMA Tbk

Derive the Projected Residual Income For PT MERCK Tbk
(Rupiah amount in millions; allow for rounding)

Year+1 Year+2 Year+3

IDR 53,508,000,000 IDR 54,578,160,000 IDR 55,669,723,200
IDR 32,905,756,592 IDR 33,563,871,724 IDR 34,235,149,158
IDR 1,244,578,343 IDR 1,269,469,909 IDR 1,294,859,308

IDR 34,150,334,935 IDR 34,833,341,633 IDR 35,530,008,466

 Valuations Of PT PYRIDAM FARMA Tbk
Present Value of residual income year+1 through year +5
(Rupiah amount in millions; allow for rounding)

Year+1 Year+2 Year+3

IDR 53,508,000,000 IDR 54,578,160,000 IDR 55,669,723,200
IDR 32,905,756,592 IDR 33,563,871,724 IDR 34,235,149,158

IDR 679,551,600 IDR 693,142,632 IDR 707,005,485

IDR 33,585,308,192 IDR 34,257,014,356 IDR 34,942,154,643
IDR 0.98 IDR 0.96 IDR 0.93
IDR 32,821,882,095 IDR 32,717,325,589 IDR 32,613,102,155
IDR 163,067,170,838
 Year+4 Year+5
IDR 56,783,117,664 IDR 57,918,780,017
IDR 34,919,852,141 IDR 35,618,249,184
IDR 1,320,756,494 IDR 1,347,171,624

IDR 36,240,608,635 IDR 36,965,420,808

 Year+4 Year+5
IDR 56,783,117,664 IDR 57,918,780,017
IDR 34,919,852,141 IDR 35,618,249,184

IDR 721,145,594 IDR 735,568,506

IDR 35,640,997,736 IDR 36,353,817,691
IDR 0.91 IDR 0.89
IDR 32,509,210,733 IDR 32,405,650,265
 PT PYRI
LAPORAN
Tanggal 31 Desem

2015

ASET
ASET LANCAR
Kas dan bank IDR 3,728,123,019
Piutang usaha - Pihak ketiga IDR 30,245,569,598
Piutang lain - lain - Pihak ketiga -
Persediaan IDR 36,163,518,386
Uang muka dan beban dibayar dimuka IDR 2,608,786,371
Jumlah Aset Lancar IDR 72,745,997,374

ASET TIDAK LANCAR

Aset pajak tangguhan IDR 2,953,733,675
Aset tetap IDR 84,152,132,186
Aset takberwujud IDR 99,673,994
Aset hak guna IDR -
Jumlah Aset Tidak Lancar IDR 87,205,539,855
JUMLAH ASET IDR 159,951,537,229

LIABILITAS DAN EKUITAS

LIABILITAS JANGKA PENDEK
Pinjaman bank jangka pendek IDR 22,409,638,390
Utang usaha - Pihak ketiga IDR 3,629,434,001
Utang non usaha - Pihak ketiga -
Utang pajak IDR 3,361,727,835
Beban akrual IDR 166,468,410
Liabilitas jangka panjang yang jatuh tempo dalam
satu tahun
Utang bank IDR 6,928,310,244
Utang pembelian kendaraan IDR 398,480,469
Jumlah Liabilitas Jangka Pendek IDR 36,534,059,349

LIABILITAS JANGKA PANJANG

Liabilitas imbalan pasca - kerja IDR 18,083,139,087
Liabilitas jangka panjang - setelah dikurangi bagian
yang jatuh tempo dalam satu tahun
Utang bank IDR 4,041,514,298
Utang pembelian kendaraan IDR 70,765,298

Jumlah Liabilitas Jangka Panjang IDR 22,195,418,683

JUMLAH LIABILITAS IDR 58,729,478,032

EKUITAS

Modal saham - Nominal Rp 100 per saham Modal

dasar - 1.600.000.000 saham Modal ditempatkan
dan disetor penuh - 535.080.000 saham
IDR 53,508,000,000
Tambahan modal disetor IDR 2,065,078,501
Saldo laba
Sudah ditentukan penggunaannya IDR 1,000,000,000
Belum ditentukan penggunaannya IDR 44,648,980,696
Jumlah Ekuitas IDR 101,222,059,197
JUMLAH LIABILITAS DAN EKUITAS IDR 159,951,537,229

PT PYRI
LAPORAN LABA RUGI DAN
Tanggal 31 Desem

2015

PENJUALAN BERSIH IDR 217,843,921,422

BEBAN POKOK PENJUALAN IDR (79,859,558,081)
LABA BRUTO IDR 137,984,363,341

Beban penjualan dan pemasaran IDR (100,187,014,461)

Beban umum dan administrasi IDR (28,449,373,346)
Laba atas penjualan aset tetap IDR 312,103,082
Pendapatan (beban) lain - lain - bersih IDR 475,430,606
LABA USAHA IDR 10,135,509,222

Penghasilan keuangan IDR 5,862,356

Beban keuangan IDR (5,586,440,483)
LABA SEBELUM PAJAK IDR 4,554,931,095
BEBAN PAJAK PENGHASILAN IDR (1,467,826,630)
LABA TAHUN BERJALAN IDR 3,807,104,465

PENGHASILAN KOMPREHENSIF LAIN

Pengukuran kembali liabilitas imbalan pasca - kerja IDR 1,384,457,901

Pajak penghasilan terkait IDR (346,114,475)

PENGHASILAN (RUGI) KOMPREHENSIF LAIN

TAHUN BERJALAN SETELAH PAJAK IDR 1,038,343,426

JUMLAH LABA KOMPREHENSIF

PADA TAHUN BERJALAN IDR 4,125,447,891

LABA PER SAHAM DASAR IDR 6

 PT PYRIDAM FARMA Tbk
LAPORAN POSISI KEUANGAN
Tanggal 31 Desember 2015 - 31 Desember 2019

2016 2017 2018

IDR 1,365,089,257 IDR 379,645,888 IDR 1,953,299,357

IDR 38,716,265,872 IDR 37,327,885,021 IDR 42,692,622,386
- - -
IDR 40,301,149,056 IDR 36,890,982,384 IDR 41,590,179,964
IDR 2,723,939,283 IDR 3,765,799,013 IDR 5,151,136,759
IDR 83,106,443,468 IDR 78,364,312,306 IDR 91,387,136,759

IDR 3,904,884,651 IDR 5,169,614,508 IDR 5,170,866,520

IDR 79,954,782,788 IDR 75,929,987,318 IDR 90,377,679,595
IDR 96,684,701 IDR 100,016,909 IDR 121,480,980
IDR - IDR - IDR -
IDR 83,956,352,140 IDR 81,199,618,735 IDR 95,670,027,095
IDR 167,062,795,608 IDR 159,563,931,041 IDR 187,057,163,854

IDR 21,560,927,555 IDR 8,388,664,103 IDR 15,500,000,000

IDR 5,980,507,140 IDR 6,737,015,466 IDR 8,744,640,220
- - IDR 19,530,903
IDR 4,123,050,994 IDR 5,127,673,407 IDR 5,265,222,284
IDR 985,058,047 IDR 625,608,470 IDR 1,266,416,823

IDR 4,041,514,298 - IDR 1,202,142,852

IDR 1,296,521,414 IDR 1,366,154,033 IDR 1,143,694,315
IDR 37,933,579,448 IDR 22,245,115,479 IDR 33,141,647,397

IDR 22,764,018,099 IDR 27,950,618,945 IDR 28,312,394,429

 - - IDR 6,311,250,009
IDR 856,407,634 IDR 512,195,906 IDR 364,311,239

IDR 23,620,425,733 IDR 28,462,814,851 IDR 34,987,955,657

IDR 61,554,005,181 IDR 50,707,930,330 IDR 68,129,603,054

IDR 53,508,000,000 IDR 53,508,000,000 IDR 53,508,000,000

IDR 2,065,078,501 IDR 2,065,078,501 IDR 2,065,078,501

IDR 1,000,000,000 IDR 1,000,000,000 IDR 2,000,000,000

IDR 48,935,711,926 IDR 52,282,922,210 IDR 61,354,482,299
IDR 105,508,790,427 IDR 108,856,000,711 IDR 118,927,560,800
IDR 167,062,795,608 IDR 159,563,931,041 IDR 187,057,163,854

PT PYRIDAM FARMA Tbk

RAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN
Tanggal 31 Desember 2015 - 31 Desember 2019

2016 2017 2018

IDR 216,951,583,953 IDR 223,002,490,278 IDR 250,445,853,364

IDR (81,635,830,400) IDR (88,026,695,943) IDR (99,342,305,409)
IDR 135,315,753,553 IDR 134,975,794,335 IDR 151,103,547,955

IDR (96,297,408,305) IDR (89,663,552,531) IDR (105,483,095,056)

IDR (28,796,006,283) IDR (33,496,852,061) IDR (32,482,299,920)
IDR 692,203,470 IDR 619,682,923 IDR 970,909,098
IDR (359,244,021) IDR (372,447,376) IDR 399,422,400
IDR 10,519,298,414 IDR 12,062,652,290 IDR 14,508,484,477

IDR 4,515,534 IDR 6,000,666 IDR 14,300,265

IDR (3,470,406,779) IDR (2,469,372,183) IDR (3,205,520,966)
IDR 7,053,407,169 IDR 9,599,280,773 IDR 11,317,263,776
IDR (1,907,090,128) IDR (2,471,878,605) IDR (2,869,815,768)
IDR 5,146,317,041 IDR 7,127,402,168 IDR 8,447,447,988

IDR (1,146,114,415) IDR (2,971,279,846) IDR 2,165,482,801

IDR 286,528,604 IDR 742,819,962 IDR (541,370,700)

IDR (859,585,811) IDR (2,228,459,884) IDR 1,624,112,101

IDR 4,286,731,230 IDR 4,898,942,284 IDR 10,071,560,089

IDR 10 IDR 13 IDR 16

 2019 2020

IDR 5,294,802,962 IDR 9,635,894,823

IDR 41,551,408,067 IDR 59,304,207,665
IDR 413,599,187 IDR 1,029,653,680
IDR 44,269,891,205 IDR 51,036,022,889
IDR 4,416,717,498 IDR 8,336,641,515
IDR 95,946,418,919 IDR 129,342,420,572

IDR 6,300,483,257 IDR 2,719,636,430

IDR 88,397,889,858 IDR 84,564,914,050
IDR 141,416,216 IDR 134,345,402
IDR - IDR 11,682,267,715
IDR 94,839,789,331 IDR 99,232,960,294
IDR 190,786,208,250 IDR 228,575,380,866

IDR 10,404,471,944 IDR 21,467,648,107

IDR 8,493,645,804 IDR 9,259,126,732
IDR 13,285,080 IDR 409,904,346
IDR 4,664,714,065 IDR 6,936,061,568
IDR 690,484,560 IDR 638,762,172

IDR 1,202,142,852 IDR 1,202,142,582

IDR 1,729,378,884 IDR 4,834,919,506
IDR 27,198,123,884 IDR 44,748,565,283

IDR 32,788,105,199 IDR 18,187,112,798

 IDR 5,109,107,157 IDR 3,906,964,305
IDR 964,879,142 IDR 4,100,988,325

IDR 38,862,091,498 IDR 26,195,065,428

IDR 66,060,214,687 IDR 70,943,630,711

IDR 53,508,000,000 IDR 53,508,000,000

IDR 2,065,078,501 IDR 2,065,078,501

IDR 2,000,000,000 IDR 2,000,000,000

IDR 67,152,915,062 IDR 89,948,170,901
IDR 124,725,993,563 IDR 157,631,750,155
IDR 190,786,208,250 IDR 228,575,380,866

F LAIN

2019 2020

IDR 247,114,772,587 IDR 277,398,061,739

IDR (106,912,029,284) IDR (113,507,729,371)
IDR 140,202,743,303 IDR 163,890,332,368

IDR (94,334,563,495) IDR (99,293,129,295)

IDR (34,947,720,584) IDR (35,046,459,569)
IDR 1,049,798,852 IDR 553,684,767
IDR 3,152,982,019 IDR 856,763,435
IDR 15,281,152,485 IDR 32,143,686,770

IDR 23,254,255 IDR 63,383,806

IDR (2,785,584,236) IDR (2,564,861,795)
IDR 12,518,822,477 IDR 29,642,208,781
IDR (3,176,104,438) IDR (7,537,844,514)
IDR 9,342,718,039 IDR 22,104,364,267

IDR (1,871,953,701) IDR 13,847,938,878

IDR 467,988,425 IDR (3,046,564,553)

IDR (1,403,965,276) IDR 10,081,392,325

IDR 7,938,752,763 IDR 32,905,756,592

IDR 17 IDR 41