PEFINDO has assigned its idA- rating with stable outlook to PT Dahana

(28 May 2026)--The rating reflects Dahana’s strong market position, integrated business operations, and strong financial profile. The rating is constrained by the Company’s exposure to expansion risk and exposure to the volatility of commodity prices.

The rating may be raised if Dahana strengthens its business presence in the domestic commercial explosives market by continuously achieving higher-than-projected revenue and EBITDA, which might be supported by the mining services business on a sustained basis. The rating may be lowered if the Company persistently fails to achieve its targeted revenue and EBITDA, or if Dahana incurs significant additional debt, resulting in a more aggressive capital structure on a sustained basis.

Dahana provides integrated explosives services for the oil and gas, general mining, quarry and construction, and defense sectors. The Company was established in 1966, and since March 2, 2022, Dahana has become part of DEFEND ID holding, with the Indonesian government maintaining its one special share and PT Len Industri (Persero) holding 99.99% series B shares. (ends)