<![CDATA[This study evaluates the 2021-2024 financial performance of PT Gunung Raja Paksi Tbk using return on assets, return on equity, total asset turnover, and inventory turnover. It applies descriptive quantitative analysis to public financial statements. The 2024 divestment is treated as a structural break, and continuing operation profit is distinguished from discontinued operation profit. Consolidated ROA and ROE reached 15.65% and 17.97% in 2024, while indicative ratios based on continuing operation profit were only about 2.82% and 3.23%. TATO was 0.44 times and ITO was 2.06 times in 2024. The headline finding is that the consolidated profitability surge cannot be interpreted as pure operating improvement because most profit was associated with discontinued operations and the divestment gain. Performance assessment therefore needs to consider the source of earnings and changes in reporting perimeter.]]>
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