Trade & Service

SMIL - Indo Largest Forklift Rental Provider

Adrianus Bias Prasuryo, Khairunnisa Nadhifah 15 August 2023

KBVS Update
Wednesday, 15 Aug 2023

SMIL - Indo's Largest Forklift Rental Provider

With more than 3,500 fleet units and diversified customers from various sectors, PT Sarana Mitra Luas Tbk (SMIL) has become Indo’s largest forklift rental provider with 35% market share.

The company is deemed to benefit from the nation’s manufacturing activities growth and EV adoption in pursuit of efficiency given its positioning as Indo's pioneer in Lithium forklift units.

Having delivered 17.7% CAGR earnings growth in the past 3 years, SMIL aspires to grow its topline and earnings by 30%-40% p.a in mid-term through expansion on products offering and venturing into trading business.

Aiming for 50% earnings growth this year, SMIL’s ‘23F PE looks attractive at 14.0x vs. peers of 25x.


Adrianus Bias & Khairunnisa Nadhifah - KBVS Research Team