Jakarta, September 19, 2026 – PT Pupuk Indonesia (Persero) has strengthened its position in the 2026 Fortune Indonesia 100 ranking, supported by the company’s ongoing governance and operational transformation. In the ranking of Indonesian companies based on fiscal year 2025 revenue, Pupuk Indonesia climbed to 14th place, while also ranking as the eighth-largest state-owned enterprise (SOE) in Indonesia by revenue.

The improved ranking was in line with Pupuk Indonesia’s revenue growth from IDR 81.6 trillion in 2024 to IDR 90.4 trillion in 2025. At the regional level, Pupuk Indonesia also advanced in the 2026 Fortune Southeast Asia 500, moving up from 69th to 68th place.

Director of Operations of Pupuk Indonesia, Dwi Satriyo Annurogo, said the achievement reflects the strengthening of the company’s fundamentals through transformation carried out with the support of the Government and in coordination with Danantara Indonesia. The transformation is aimed at enhancing Pupuk Indonesia’s competitiveness while ensuring a more resilient fertilizer industry capable of supporting national food security.

“Going forward, we will continue our transformation to build a more efficient, agile, and competitive Pupuk Indonesia,” Dwi Satriyo said.

Pupuk Indonesia has undertaken a comprehensive transformation supported by Government policies through Presidential Regulation No. 6 of 2025 and Presidential Regulation No. 113 of 2025. Presidential Regulation No. 6 of 2025 streamlined the governance of subsidized fertilizer distribution, making the process simpler, faster, and more accurately targeted. The results were reflected in the distribution of 8,110,571 tons of subsidized fertilizers in 2025, an increase of 10.68 percent compared to the previous year.

Meanwhile, Presidential Regulation No. 113 of 2025 changed the fertilizer subsidy mechanism from a cost-plus scheme to a marked-to-market mechanism, while also introducing upfront payments for raw materials. The policy has helped improve operational efficiency while ensuring that raw materials are available when needed, thereby maintaining reliable fertilizer supplies for farmers.

The benefits of this transformation and improved efficiency extend beyond corporate performance and are also directed toward delivering tangible benefits to farmers. Since October 2025, the Highest Retail Price (HET) of subsidized fertilizers has been reduced by 20 percent.

Greater efficiency also provides Pupuk Indonesia with a stronger foundation to enhance its long-term industrial competitiveness through plant revitalization and business portfolio development. Pupuk Indonesia is targeting the construction and revitalization of eight plants over the next five years to improve energy efficiency, production capacity, and operational reliability. One completed project is the revamping of Pupuk Kalimantan Timur’s Ammonia Plant-2, which has reduced gas consumption by more than 10 percent while improving operational efficiency.

In terms of business development, Pupuk Indonesia is expanding its portfolio toward becoming an **industrial and specialty chemicals powerhouse**, including through the development of a soda ash plant and plans for a methanol plant. These initiatives are designed to create greater added value, reduce dependence on imports of strategic commodities, and strengthen the competitiveness of Indonesia’s national industry.