We cut our FY24F/25F/26F earnings estimates for DRMA by 6.5%/9.0%/9.3% on likely subdued 4W wholesales in 2024

AUTOS AUTO PARTS DRMA DRMA JK DRMA IJ Jupriadi Tan David Tjahjadi Gerald Hugo

DRMA margins have deteriorated in the past two quarters due to low production volume.

Autos Auto Parts DRMA JK DRMA IJ Jupriadi Tan Gerald Hugo