Risk factor
Very high price volatility
Profitability factor
Very low or no dividends
About
PT Dian Swastatika Sentosa Tbk (DSSA), along with its various subsidiaries, is a diversified Indonesian conglomerate engaged in several key sectors, including coal mining and trading, power generation, technology solutions, and the distribution of fertilizers and chemicals. The company's operational structure is divided into segments encompassing Steam and Electricity Supply, Fertilizer and Chemicals Trading, Rental activities, and Coal Mining and Trading. DSSA holds mining concessions across several Indonesian provinces—specifically South Sumatra, Jambi, Central Kalimantan, and South Kalimantan—where it extracts and trades metallurgical coal. Furthermore, it manages four captive power plants situated in Tangerang, Serang, and Karawang, collectively generating 300 megawatts (MW). Its broader activities extend to providing research and development services for the mining, energy, and natural resources sectors, offering management consulting, and involvement in pulp and wood chip production, forestry, and general trading, alongside the specific trading of chemicals, pesticides, and fertilizers. The firm also delivers an array of technology and investment services, including pay television and internet access, venture capital and asset management, information and communication technology (ICT) solutions, and scientific research and technological services. DSSA maintains a significant international presence, conducting business in Indonesia, China, India, Japan, Korea, other parts of Southeast Asia, the Netherlands, Hong Kong, Pakistan, and Liberia. Established in 1996, the company is headquartered in Jakarta, Indonesia, and functions as a subsidiary of PT Sinar Mas Tunggal.
Company Valuation
Based on key historical and expected multiples, the stock is overvalued relative to its peers. In particular, the stock is overpriced on P/E, of fair value on EV/EBITDA,