PT Madusari Murni Indah Tbk (MOLI.JK) Stock Analysis & Winston Score
PT Madusari Murni Indah Tbk is an Indonesian company that produces ethanol and alcohol-based chemicals. It makes industrial ethanol, food-grade alcohol, and related byproducts, selling to customers in industries like food and beverage, pharmaceuticals, cosmetics, and manufacturing. The company is one of Indonesia's key domestic producers of ethanol, sourcing its raw materials primarily from sugarcane molasses. The company earns money by selling ethanol and alcohol products directly to industrial buyers, operating mainly within Indonesia. With a gross margin around 30%, it benefits from being a domestic supplier in a market where imported alternatives face tariffs and logistics costs — giving it a degree of pricing protection. Its main growth driver is rising demand for industrial and pharmaceutical-grade alcohol across Southeast Asia, but its key risk is exposure to sugarcane molasses prices, which can fluctuate significantly and squeeze production costs when agricultural conditions are poor.
Winston Score: 60/100 — Good
A decent business — some strong pillars, some weaker.
- Quality: Mixed (11/30)
- Growth: Strong (16/20)
- Cash Flow: Exceptional (10/10)
- Stability: Good (5/10)
- Valuation: Good (6/10)
- Ownership: Good (10/15)
Key Facts
Price: 274.00 IDR
Market Cap: 746.4B IDR
Sector: Basic Materials
Industry: Chemicals
Exchange: Indonesia Stock Exchange


