Nama : Risalah Ciptani Handayani

NPM : 1910111488

PT Gudang Garam Tbk

PT Gudang Garam Tbk is an Indonesian company engaged in the
manufacturing of cigarettes. The company is a leading manufacturer
of kretek cigarettes (these clove-type of cigarettes are a trademark of Indonesia). It
produces a wide range of kretek cigarettes including low-tar, low-nicotine variants
and traditional hand-rolled kretek, which are distributed domestically and
worldwide.

Gudang Garam has established primary and secondary kretek manufacturing

operations at two main sites. Kediri, home to the company head office, and
Gempol. Both sites are located on Java, Indonesia's most populous island. Gudang
Garam operates an in-house printing facility and has three active subsidiaries:
Surya Pamenang, producing paper board used for the manufacturing of Gudang
Garam packaging, Surya Madistrindo, sole distributor of the company’s products,
and Surya Air which provides non-scheduled air transport services. In 2012, 84
percent of Gudang Garam's cigarettes production was machine-made, while the
remaining 16 percent was hand-rolled kretek. At end 2013, the company had a
market share of about 20.6 percent of the domestic cigarette market. Due to the
high number of smokers in Indonesia, Gudang Garam - as well as other companies
in Indonesia's cigarette industry - is a major source of revenue for the Indonesian
government in terms of excise duties and corporate income tax. Gudang Garam is
one of the companies with the largest market capitalization listed on the Indonesia
Stock Exchange (IDX).

Inventory turnover measures how fast the company turns over its inventory
within a year. It is calculated as Cost of Goods Sold divided by Total Inventories.
Perusahaan Rokok Tjap Gudang Garam Tbk's Cost of Goods Sold for the three
months ended in Jun. 2019 was $1,521 Mil. Perusahaan Rokok Tjap Gudang
Garam Tbk's Total Inventories for the quarter that ended in Jun. 2019 was $2,563
Mil. Perusahaan Rokok Tjap Gudang Garam Tbk's inventory turnover for
the quarter that ended in Jun. 2019 was 0.59. Days Inventory indicates the number
of days of goods in sales that a company has in the inventory. Perusahaan Rokok
Tjap Gudang Garam Tbk's Days Inventory for the three months ended in Jun.
2019 was 153.79. Total Inventories can be measured by Days Sales of Inventory
(DSI). Perusahaan Rokok Tjap Gudang Garam Tbk's days sales of inventory (DSI)
for the three months ended in Jun. 2019 was 124.60. Inventory-to-
Revenue determines the ability of a company to manage their inventory levels. It
measures the percentage of Inventories the company currently has on hand to
support the current amount of Revenue. Perusahaan Rokok Tjap Gudang Garam
Tbk's Inventory-to-Revenue for the quarter that ended in Jun. 2019 was 1.37.

PT Gudang Garam Tbk's (GGRM, member of the Kompas100 index) net

profit increased slightly last year. The cigarette producer only posted a 0.52% net
profit growth to Rp7.79 trillion in 2018. The previous year, GGRM's profit
received Rp7.75 trillion. In the financial report published on the disclosure of
information, GGRM revenue actually still rose by 14.89% to Rp 95.71 trillion.
However, GGRM's cost of goods sold rose higher by 18.41% to Rp 77.06 trillion.
As a result, the profit made by GGRM last year did not grow high. Until 15:14
WIB, Friday (29/3), GGRM's share price rose 1.19% to the level of Rp. 83,250
per share.

Gudang Garam provides lifehoods for a workforce of 35,272 at the end of

2017, engaged in cigarette manufacturing, marketing, & distribution. In addition to
its production facilities, the Company is represented by a total of 67 area offices
with 281 points of distribution located throughout Indonesia and services its
markets with a sales fleet of over 7,000 vehicles. Employee walfare is a priority,
from paper safety practices and health facilities to training in leadership,
management, clerical and technical skills through a mixture of internal and
external courses.