ICBP Stock: Indofood CBP Sukses Makmur Profile, Business and Risks

ICBP is the ticker for PT Indofood CBP Sukses Makmur Tbk on the Indonesia Stock Exchange. It's a subsidiary of Indofood Sukses Makmur (INDF) that makes instant noodles, seasonings, soy sauce, chili sauce and biscuits under brands familiar in Indonesian kitchens. The stock has traded on the IDX since 2010 and ranks among the more liquid large-cap names on the exchange.

ICBP stock summary

As of October 22, 2026:

Indofood CBP's business

ICBP emerged from the restructuring of Indofood Sukses Makmur's Consumer Branded Products (CBP) group. It absorbed the instant noodle and seasoning operations that had previously been scattered across several Indofood subsidiaries, consolidated into one entity during 2009-2010.

In January 2010, four more companies were fully merged into ICBP: PT Gizindo Primanusantara, PT Indosentra Pelangi, which makes Indofood-branded seasonings, soy sauce and chili sauce, PT Indobiskuit Mandiri Makmur, and PT Ciptakemas Abadi, which operates in packaging. That gives ICBP a portfolio spanning instant noodles, cooking seasonings, soy sauce, chili sauce, biscuits, and packaging materials used both internally and for third parties.

As part of the broader Indofood Group, the group's history also includes a partnership with Frito-Lay, a PepsiCo subsidiary, for snack brands like Chitato and Lay's, along with a joint venture with Nestlé for certain seasoning categories. The sources checked for this profile don't spell out ICBP's specific ownership stake in those ventures at the subsidiary level.

Brief history and IPO

The roots of Indofood's noodle business predate ICBP as a separate entity. PT Sanmaru Food Manufacturing began producing Indomie in 1972, followed by Sarimi in 1982 and Pop Mie in 1987. All of the Salim Group's food production entities were merged into PT Indofood Sukses Makmur on February 12, 1994, shortly before the company listed its shares, as Indofood, on the Jakarta Stock Exchange on July 14, 1994 at Rp6,200 per share.

More than a decade later, Indofood spun off part of its business. In 2009, the instant noodle and seasoning operations were separated and folded into a new entity called PT Indofood CBP Sukses Makmur. Once the restructuring was complete in early 2010, ICBP held an initial public offering and officially listed on the Indonesia Stock Exchange on October 7, 2010.

Shareholders and management

ICBP is a subsidiary of PT Indofood Sukses Makmur Tbk (INDF), which is controlled by the Salim Group through First Pacific, the group's Hong Kong-based arm. According to coverage of ICBP's June 26, 2026 shareholders meeting, Anthoni Salim serves as President Director and CEO of ICBP. The same name has also held the role of President Director of Indofood Sukses Makmur since June 24, 2004, reflecting the Salim Group's unified leadership across both the parent and subsidiary.

For a full breakdown of public shareholding structure and the current board of directors and commissioners, the sources checked for this profile don't provide the details. Readers who need precise ownership percentages should check ICBP's annual report or disclosures on idx.co.id.

Recent financial performance

The sources checked for this article don't include ICBP's recent quarterly or annual revenue or net profit figures. As a result, we can't present specific growth numbers here.

Investors looking for an accurate read on ICBP's financial performance should check the company's official financial statements published on the Indonesia Stock Exchange website, idx.co.id, or ICBP's investor relations page.

Dividends

At its Annual General Meeting of Shareholders on Thursday, June 26, 2026, ICBP shareholders approved a cash dividend of Rp265 per share. President Director and CEO Anthoni Salim said the dividend would be paid to shareholders on July 28, 2026.

Measured against ICBP's share price of Rp6,075 as of October 22, 2026, the Rp265 dividend works out to roughly 4.4% of the current price. That's simply a mathematical comparison, not a guaranteed yield going forward, since dividend policy can change each fiscal year.

ICBP share price movement

As of October 22, 2026, ICBP traded at Rp6,075 per share. That sits toward the lower end of its 52-week range of Rp5,500 to Rp8,975, closer to the yearly low than the high.

The trend has been under pressure recently. One-month performance stands at -11.6%, three-month at -14.7%, and one-year at -31.7%. The stock has pulled back substantially from its 52-week peak of Rp8,975.

There are signs of a short-term bounce, though. On Wednesday, October 21, 2026, ICBP jumped 5.19% to Rp6,075, one of the biggest single-day gains among LQ45 stocks that day, according to Indonesia Stock Exchange data cited by digtara.com. Earlier, on October 11, 2026, herald.id had already flagged early signs of recovery in ICBP and INDF after both had been under pressure.

On liquidity, ICBP's average daily trading volume over the past three months stood at 5.86 million shares, a reasonably healthy figure for a large-cap IDX stock.

Recent news and catalysts

Several developments relevant to ICBP shareholders and prospective investors:

• October 21, 2026 (digtara.com): ICBP surged 5.19% to Rp6,075, helping lift the IHSG, which closed up 0.94% at 5,328.36. The rally followed Bank Indonesia's decision to hold its benchmark rate at 5.75% in its October 20-21, 2026 policy meeting, as announced by BI Governor Destry Damayanti.
• October 21, 2026 (insight.kontan.co.id): transaction data through Tuesday, October 20, 2026 showed ICBP posted net foreign selling of Rp91.2 billion over a week and Rp89.76 billion over a month. That contrasts with parent company INDF, which recorded net foreign buying of Rp142.45 billion weekly and Rp168.26 billion monthly over the same period.
• October 11, 2026 (herald.id): ICBP and INDF were noted as showing early signs of price recovery after a period of weakness, though the article's main focus was actually auto component stock DRMA.
• June 26, 2026 (liputan6.com): ICBP's shareholders meeting approved a Rp265 per share cash dividend, with payment scheduled for July 28, 2026.

Beyond ICBP-specific catalysts, the broader market remains clouded by uncertainty around MSCI index policy direction and foreign capital flows, a factor that BRI Danareksa Sekuritas technical analyst Reza Diofanda said is influencing the IHSG's broader movement.

Competitors on the IDX

A few consumer goods issuers on the IDX overlap with ICBP's product lines:

• MYOR (Mayora Indah): makes biscuits, candy, processed coffee and instant noodles, with a relatively large export footprint.
• ULTJ (Ultrajaya Milk Industry): focused on liquid milk and UHT beverages, a narrower product base than ICBP's.
• GOOD (Garudafood Putra Putri Jaya): makes snacks and packaged beverages, competing for shelf space with some ICBP products.

ICBP's parent company, INDF, also trades separately on the IDX, though the two aren't competitors so much as one group operating in different business segments.

Risks

Some risks worth watching for ICBP stock:

• Share price volatility: ICBP has fallen 31.7% over the past year and sits near the bottom of its 52-week range, pointing to sustained selling pressure.
• Foreign capital flows: data through October 20, 2026 showed ICBP recorded net foreign selling both weekly and monthly, diverging from the net foreign buying trend seen in parent company INDF.
• Macro uncertainty: uncertainty around MSCI index policy and foreign fund flows was cited as a factor that could affect the sustainability of the IHSG's broader rally, including stocks within it.
• Interest rate and currency sensitivity: Bank Indonesia's rate decisions and rupiah moves affect sentiment toward consumer stocks broadly, as reflected in the market's reaction following the October 21, 2026 policy meeting.
• Business concentration: much of ICBP's operations center on branded processed food products like instant noodles and cooking seasonings, tying its performance closely to domestic consumer spending and raw material costs.
• Limited financial disclosure in sources checked: because the sources used for this profile don't include recent profit or revenue figures, investors should verify fundamental data through ICBP's official financial statements on idx.co.id before making decisions.

What it means for investors

A few concrete things worth tracking on ICBP going forward:

• The current price of Rp6,075 sits close to the 52-week low of Rp5,500. How the stock trades over the coming sessions could show whether that level holds as support or gets broken.
• Foreign flow trends: data through October 20, 2026 showed ICBP still in net foreign selling territory, unlike INDF, which saw net buying. These net buy/sell figures are typically updated daily and can be tracked through IDX data or brokerage platforms.
• Dividend timing: the Rp265 per share dividend for the prior fiscal year was already paid out on July 28, 2026. Dividend policy for the next year is usually decided at a mid-year shareholders meeting, so ICBP's next AGM schedule is worth watching for anyone tracking dividend income.
• Reaction to BI rate decisions: the next Bank Indonesia policy meeting outcome could sway sentiment toward consumer stocks including ICBP, given the positive market reaction after BI held its rate at 5.75% on October 21, 2026.
• Official financial reports: since the sources checked here don't include recent revenue or profit figures, waiting for ICBP's quarterly financial statements on idx.co.id is a sensible step before forming a full view of the company's fundamentals.

How to buy ICBP stock

To buy ICBP shares, investors need to open a brokerage account with a securities firm licensed by Indonesia's Financial Services Authority (OJK) and registered as an Indonesia Stock Exchange member. Shares on the IDX trade in lots, with 1 lot equal to 100 shares.

At ICBP's price of Rp6,075 per share as of October 22, 2026, one lot costs around Rp607,500, not including brokerage transaction fees, which vary by securities firm.

FAQ

Does ICBP pay regular dividends?

Based on available data, ICBP approved a cash dividend of Rp265 per share at its June 26, 2026 shareholders meeting, paid out on July 28, 2026. Check idx.co.id for the full dividend history.

How much is one lot of ICBP stock?

At the last price of Rp6,075 per share, one lot (100 shares) of ICBP costs around Rp607,500 before brokerage fees.

Is ICBP part of the LQ45 index?

A digtara.com report dated October 21, 2026 lists ICBP among LQ45 stocks that posted notable gains that day.

What's the difference between ICBP and its parent, INDF?

ICBP is a subsidiary of Indofood Sukses Makmur (INDF) focused on branded consumer products like instant noodles, seasonings, soy sauce and biscuits, while INDF as the parent has a broader portfolio including agribusiness and flour milling through Bogasari.

Why did ICBP jump 5.19% on October 21, 2026?

The gain to Rp6,075 coincided with a 0.94% rise in Indonesia's benchmark IHSG after Bank Indonesia held its policy rate at 5.75%, according to digtara.com.

This article is for informational purposes and is not a recommendation to buy or sell ICBP stock.