MANAGER: Journal of Management and Administration Science
Vol. 5 No. 1 (2026): MANAGER: Journal of Management and Administration Science, Agustus 2026

ANALISIS KELAYAKAN INVESTASI DAN KINERJA KEUANGAN PT SINDOPAINT ADITAMA PABRIK CAT PELAPIS ANTIMIKROBA

Vina Yulianita (Universitas Esa Unggul)
Dimas Angga Negoro (Universitas Esa Unggul)
Edi Hamdi (Universitas Esa Unggul)
Mira Kartika Dewi Djunaedi (Universitas Esa Unggul)



Article Info

Publish Date
06 Sep 2026

Abstract

The growing need for building materials that support cleanliness and health has created opportunities for antimicrobial coating paint products, particularly in healthcare facilities and buildings with high sanitation standards. This study aims to analyze the investment feasibility and financial performance of the Master Guard Hygienix antimicrobial paint business plan developed by PT Sindopaint Aditama. The study employs a descriptive-quantitative approach using a case study method based on five-year projected financial statements contained in Chapter VIII of the business plan. Investment feasibility is analyzed using the indicators of Return on Investment (ROI), Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period. Meanwhile, the company’s financial performance is evaluated through liquidity, solvency, and profitability ratios. The analysis results indicate that business revenue is projected to increase from IDR 25.92 billion in Year 1 to IDR 112.32 billion in Year 5. In line with this revenue growth, net profit is estimated to increase from IDR 3.60 billion to IDR 28.66 billion. With an initial investment value of IDR 14 billion and a Weighted Average Cost of Capital (WACC) of 13.97%, the project generates a positive NPV of IDR 16.56 billion and an IRR of 26.17%. The IRR value, which is higher than the WACC, indicates that the rate of return on investment is able to exceed the company’s cost of capital. The investment is estimated to be recovered within 3 years and 1 month, while ROI in Year 5 reaches 204.74%. The financial ratio analysis also indicates that the company is projected to have an adequate ability to meet short-term obligations, manage its financing structure, and generate profits during the planning period. Based on these results, the Master Guard Hygienix business plan is considered feasible to implement and has promising growth prospects as well as an attractive rate of return on investment. Nevertheless, the company still needs to monitor working capital requirements, the use of debt, the achievement of sales targets, and the alignment of actual cash flows with projections. Periodic financial evaluations are required to maintain liquidity, control investment risks, and ensure long-term business sustainability.

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Journal Info

Abbrev

manager

Publisher

Subject

Humanities Economics, Econometrics & Finance

Description

MANAGER: Journal of Management and Administration Science (E-ISSN 2986-7029) is a high-quality, open-access peer-reviewed international journal published three times a year by Asian Publisher. The scopes of journal are related to management, economic, and social. The publication will be released in ...