Conference Universitas Siliwangi
International Seminar and Conference on Management, Research, and Transformation (I-SMART)

Evaluation of The Structure of Sources and Uses of Funds and Their Impact on The Profitability Ratios of PT Nippon Indosari Corpindo Tbk.

Date Published : 15 October 2026

Contributors

Budi Muhammad Ilyas

Universitas Siliwangi
Author

Deri Anwarul Hikam

Author

Irhas Tsani Sujud Mujhaffar

Universitas Siliwangi
Author

Ziyad Abdul Fattah

Universitas Siliwangi
Author

Aldi Darmawan

Universitas Siliwangi
Author

Keywords

Sources of Funds Uses of Funds Profitability Financial Evaluation

Proceeding

Vol. 1 (2025): International Seminar and Conference on Management, Research, and Transformation (I-SMART 1.0)

Track

General Track

License

Copyright (c) 2026 International Seminar and Conference on Management, Research, and Transformation (I-SMART)

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study provides a descriptive evaluation of the structure of sources and uses of funds and its implications for profitability ratios at PT Nippon Indosari Corpindo Tbk (Sari Roti) over the 2023–2024 period. Using a quantitative descriptive-comparative approach, balance sheet movements are reconstructed into a Statement of Financial Position Movements and reclassified into a Statement of Sources and Uses of Funds. The results show that total funds generated and applied are balanced at IDR 218,986 million. Funds were mainly sourced from asset reductions—most notably decreases in cash and other non-current assets—and were primarily used for equity outflows (IDR 85,276 million) and debt repayments of both current (IDR 58,375 million) and non-current liabilities (IDR 53,520 million), alongside a smaller allocation to working capital, particularly inventory increases (IDR 19,086 million). Profitability ratios indicate that OPM, ROA, and ROE increased, while NPM declined and GPM slightly decreased, suggesting improved operating efficiency and asset returns with continued pressure on net margins. Given the two-year annual scope, findings are interpreted as descriptive indications rather than statistically tested causal effects.

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How to Cite

Budi Muhammad Ilyas, B. M. I., Deri Anwarul Hikam, D. A. H., Irhas Tsani Sujud Mujhaffar, I. T. S. M., Ziyad Abdul Fattah , Z. A. F. ., & Aldi Darmawan, A. D. (2026). Evaluation of The Structure of Sources and Uses of Funds and Their Impact on The Profitability Ratios of PT Nippon Indosari Corpindo Tbk. International Seminar and Conference on Management, Research, and Transformation (I-SMART), 1, 1134-1141. https://conference.unsil.ac.id/ismart/paper/view/369