Jakarta. Newly-listed food processing company Raja Roti Cemerlang (BRRC) is targeting Rp 150 billion ($9.26 million) in revenue with a 5 percent profit margin by 2025, while also planning to enter the Australian market.

Ari Sudarsono, CEO of BRRC, said the company will invest approximately Rp 40 billion to establish production facilities in Western Indonesia, Eastern Indonesia, and East Java. "We are committed to expanding our production capacity to meet the growing demand," Ari said, speaking on the occasion of BRRC's listing on the Indonesia Stock Exchange (IDX) on Thursday.

In addition to expanding domestic production, BRRC is also targeting international markets, with plans to start exporting to Australia in 2025. "We already have a partner in Australia, and we are optimistic about the export potential," added Ari.

BRRC, a key supplier of ingredients for Indonesia's nugget factories, is also looking to take a bite of the government’s Nutritious Meal Program (MBG), which provides daily meals to children and pregnant women.

"The MBG program will help us increase sales by up to five times, as our products are used in items like nuggets and chicken katsu, which are featured in the program," Ari explained.

The company’s revenue is primarily driven by its breadcrumb products, which cater to the B2B market. However, BRRC is also branching out into retail, introducing new products such as fresh bread.

BRRC officially listed its shares on the Indonesia Stock Exchange on Thursday, with its stock price rising 18.1 percent to Rp 248 per share. In its Initial Public Offering (IPO), BRRC offered 291.5 million new shares, or 30.01 percent of its paid-up capital, raising Rp 61.21 billion. NH Korindo Sekuritas Indonesia acted as the underwriter for the offering.

All proceeds from the IPO will be used for working capital, including the purchase of raw materials, labor, and energy costs such as gas and electricity.

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