BACH Transformation Drives Sustainable Business Prospects

The share price of PT Bach Multi Global Tbk (BACH) has continued its positive trajectory since its official listing on the stock exchange. Analysts believe the company possesses significant long-term growth prospects driven by the increasing demand for national digital infrastructure. At the close of trading on Friday (31/07/2026), BACH rose by 15.05% to the level of Rp 880. Since its IPO, the stock has increased by 99.1%, although not as rapidly as some other recent IPOs.

Alif Ihsanario, an analyst at Ciptadana Sekuritas Asia, views the post-IPO movement of BACH as a natural market dynamic. He noted that the company’s primary focus is on building a sustainable business rather than chasing short-term sentiment. “What is more important is how the company is able to create sustainable value,” Alif stated on Friday.

From a fundamental perspective, BACH has recorded positive performance, with 2025 revenue growing by nearly 40% to Rp 1.73 trillion and net profit nearly doubling to approximately Rp 155 billion. This performance reflects growth supported by core business operations. In addition to the sale and rental of generators, BACH provides construction, installation, maintenance, and managed services for telecommunications infrastructure, ranging from BTS construction, civil mechanical electrical (CME) works, and fibre optic deployment to preventive and corrective maintenance, as well as mobile backup power.

This diversification strengthens the company’s revenue through new projects and recurring income. Alif believes BACH’s prospects will be further bolstered by growth in telecommunications investment, 5G network expansion, fibre-to-the-home initiatives, and the development of the data centre industry in Indonesia.

Furthermore, BACH’s integration into the Djarum Group ecosystem via Global Telekomunikasi Prima as the controlling entity has the potential to strengthen the company’s competitive position. Synergies with digital companies within that ecosystem, such as Protelindo, TOWR, SUPR, and iForte, could unlock new project opportunities and strengthen recurring revenue through long-term service contracts.

Beyond telecommunications, BACH has expansion opportunities in sectors requiring reliable power supplies, such as data centres, manufacturing, industrial estates, mining, and infrastructure. Given its experience in power and infrastructure solutions, the company is deemed capable of expanding its market without deviating from its core competencies.

However, Alif warned of challenges that must be managed, including exchange rate fluctuations, dependence on foreign suppliers, industry competition, and working capital requirements. “BACH’s long-term prospects remain positive as long as the company maintains efficiency, strengthens relationships with customers and suppliers, and continues to diversify its revenue,” he said.

Alif concluded that BACH should prioritise strengthening its business fundamentals rather than chasing inclusion in indices such as the LQ45 or MSCI. The transformation from a generator provider to an energy and telecommunications infrastructure solutions provider is seen as a move that strengthens recurring revenue and opens growth opportunities within the national digital sector.