Swan.my.id, Jakarta - Triputra Group stocks have attracted attention among Indonesian investors because they span several major business sectors, from palm oil and automotive components to logistics and used-car trading. The group is associated with businessman T.P. Rachmat, with several listed companies linked through direct ownership or corporate entities.
The companies commonly associated with the group include PT Triputra Agro Persada Tbk (TAPG), PT Dharma Satya Nusantara Tbk (DSNG), PT Dharma Polimetal Tbk (DRMA), PT Adi Sarana Armada Tbk (ASSA), and PT Autopedia Sukses Lestari Tbk (ASLC). Each company has a different business model and exposure to economic conditions.
ADRO is sometimes included in discussions about Triputra because T.P. Rachmat personally owns a stake in the company. However, ADRO is not a Triputra Group subsidiary. Its controlling shareholder is PT Adaro Strategic Investments. This distinction is important when investors assess corporate ownership and business relationships.
What Are Triputra Group Stocks?
Triputra Group stocks refer to listed companies associated with the business group founded by T.P. Rachmat. The relationship can come from direct share ownership, ownership through affiliated companies, or a parent-subsidiary structure.
Based on ownership data as of March 31, 2026, the main companies discussed are TAPG, DSNG, DRMA, ASSA, and ASLC. ADRO has a different relationship because T.P. Rachmat owns shares directly rather than controlling the company through Triputra.
The business sectors are also quite diverse. TAPG and DSNG operate in the plantation sector, while DRMA focuses on automotive components. Meanwhile, ASSA operates in vehicle rental and logistics. ASLC focuses on used-car auctions and trading.
This structure means investors cannot treat all Triputra-related stocks as having the same market drivers. Commodity prices, vehicle sales, logistics demand, and consumer activity can affect each company differently.
Triputra-Related Companies at a Glance
| Code | Company | Main Business | Relationship |
|---|---|---|---|
| TAPG | PT Triputra Agro Persada Tbk | Palm oil and rubber plantations | Linked through Triputra entities and T.P. Rachmat |
| DSNG | PT Dharma Satya Nusantara Tbk | Palm oil, wood products and renewable energy | Linked through Triputra Investindo Arya |
| DRMA | PT Dharma Polimetal Tbk | Automotive components | Linked through Dharma Inti Anugerah and Triputra Investindo Arya |
| ASSA | PT Adi Sarana Armada Tbk | Vehicle rental and logistics | Linked through T.P. Rachmat and Triputra Investindo Arya |
| ASLC | PT Autopedia Sukses Lestari Tbk | Used-car auctions and trading | Subsidiary of ASSA |
| ADRO | PT Alamtri Resources Indonesia Tbk | Energy and minerals | T.P. Rachmat is a direct shareholder |
Bisnis.com has also included PT Kirana Megatara Tbk (KMTR) among companies associated with the Triputra business group.
Who Owns the Triputra Group?
The Triputra Group is associated with T.P. Rachmat, a prominent Indonesian businessman. The group's interests in listed companies are held through several corporate entities.
One important entity is PT Triputra Investindo Arya. As of March 31, 2026, the company held 24.12% of TAPG and 28.33% of DSNG. It also held 14.16% of DRMA and 1.25% of ASSA.
T.P. Rachmat also holds shares directly in several companies. His direct ownership included 5.09% of TAPG, 4.80% of ASSA, and 3.03% of ADRO based on the same ownership period.
The structure becomes more complicated in TAPG and ASSA because other large shareholders are also present. Therefore, ownership should be reviewed through individual shareholding data rather than simply assuming that every related company is fully controlled by Triputra.
For investors, this distinction matters because corporate affiliation does not automatically mean identical control. A company can have a significant shareholder from a business group while still having other major shareholders.
Is ADRO Part of the Triputra Group?
ADRO is frequently mentioned alongside Triputra-related stocks because of T.P. Rachmat's personal shareholding.
However, ADRO is not a Triputra subsidiary. As of March 31, 2026, PT Adaro Strategic Investments held 47.79% of ADRO, making it the controlling shareholder. T.P. Rachmat held 3.03% directly.
ADRO also operates in a completely different business area. Its activities are centered on energy and mineral resources rather than the plantation, automotive, logistics, and used-car businesses associated with the other companies.
The company is now legally known as PT Alamtri Resources Indonesia Tbk. The name was changed from PT Adaro Energy Indonesia Tbk after approval at an extraordinary general meeting in November 2024. Its stock code remains ADRO.
Because of this ownership structure, investors should separate ADRO from the core Triputra Group stock list when analyzing corporate control.
How Are Triputra-Related Companies Performing?
The companies associated with Triputra operate across different industries. Their latest financial performance therefore reflects different economic factors.
TAPG: Palm Oil Plantation
TAPG operates in palm oil and rubber plantations. In the first half of 2026, the company reported revenue of around Rp5.85 trillion. Revenue increased 6.33% year on year.
Net profit reached about Rp2.04 trillion, representing growth of 20.43%. TAPG also distributed an interim dividend of Rp60 per share in August 2026.
Palm oil prices remain an important factor for the company's financial performance. Production volume, selling prices, weather conditions, and plantation productivity can also affect earnings.
DSNG: Palm Oil, Wood and Renewable Energy
DSNG has a more diversified business model. Its operations include palm oil, wood products, and renewable energy.
During the first half of 2026, DSNG recorded net profit of approximately Rp985.88 billion. The figure increased 7.8% year on year.
The company's palm oil business remains an important contributor. Therefore, changes in commodity prices and production volumes can influence its financial results.
DRMA: Automotive Components
DRMA operates in the automotive component manufacturing industry. Its products serve both two-wheel and four-wheel vehicle markets.
During the first half of 2026, DRMA generated revenue of around Rp3.157 trillion. Revenue increased 14% year on year, while net profit reached Rp282.9 billion.
The two-wheel segment contributed around Rp1.847 trillion. Because of its business model, automotive production and domestic vehicle demand are among the factors investors may monitor.
ASSA: Vehicle Rental and Logistics
ASSA operates across vehicle rental, logistics, and used-vehicle trading.
In the first half of 2026, ASSA reported revenue of approximately Rp3.06 trillion. Revenue increased 8.1% year on year, while net profit reached Rp271.24 billion.
The logistics segment contributed around Rp1.35 trillion. Meanwhile, its relationship with ASLC also makes the used-car business relevant to ASSA's consolidated performance.
ASLC: Used-Car Auctions and Trading
ASLC operates JBA Indonesia and Caroline.id. Its businesses include vehicle auctions and used-car sales.
During the first half of 2026, ASLC recorded revenue of approximately Rp589.9 billion. Revenue increased 31.9%, while net profit reached around Rp8.9 billion.
ASSA owns 77.60% of ASLC. As a result, ASLC's financial performance is consolidated into ASSA's financial statements.
ADRO: Energy and Minerals
ADRO operates in the energy and mineral resources sector.
During the first half of 2026, ADRO recorded revenue of approximately US$999.2 million. Profit attributable to owners of the parent reached about US$309.4 million.
However, ADRO's business drivers differ substantially from TAPG, DSNG, DRMA, ASSA, and ASLC. Commodity prices, production volumes, energy markets, and mineral operations can influence its financial results.
Triputra Group Stock Prices and One-Lot Value
Based on closing prices provided for September 23, 2026, the value of one lot varies considerably among the companies.
In Indonesia, one lot consists of 100 shares. Therefore, the minimum capital required depends on the share price.
| Code | Closing Price | One Lot | Estimated 0.15% Buy Fee | Estimated Total |
|---|---|---|---|---|
| TAPG | Rp1,980 | Rp198,000 | Rp297 | Rp198,297 |
| DSNG | Rp1,515 | Rp151,500 | ±Rp227 | ±Rp151,727 |
| DRMA | Rp970 | Rp97,000 | ±Rp146 | ±Rp97,146 |
| ASSA | Rp600 | Rp60,000 | Rp90 | Rp60,090 |
| ASLC | Rp69 | Rp6,900 | ±Rp10 | ±Rp6,910 |
| ADRO | Rp2,600 | Rp260,000 | Rp390 | Rp260,390 |
The figures above use the stated closing prices and a 0.15% purchase fee assumption. Actual transaction costs can vary depending on the applicable charges.
Meanwhile, ASLC's quoted price was based on the latest price available in the source material, dated September 21, 2026.
Investors should also distinguish brokerage fees from exchange levies, clearing costs, and applicable taxes. These components do not necessarily represent the same type of transaction cost.
What Can Affect Triputra Group Stock Prices?
Although the companies share business connections, their stock prices can respond to different factors.
Key factors include:
- Palm oil prices: TAPG and DSNG can be affected by changes in crude palm oil prices and production volumes.
- Automotive demand: DRMA is exposed to vehicle production and demand for two-wheel and four-wheel vehicles.
- Used-car demand: ASLC and part of ASSA's business depend on activity in the used-vehicle market.
- Logistics activity: ASSA can be influenced by logistics demand, fleet utilization, and transportation activity.
- Corporate actions: Dividends, acquisitions, and other corporate actions can affect market sentiment.
- Share liquidity: Lower-priced shares can experience significant percentage changes even when the nominal price movement is relatively small.
- Commodity markets: ADRO faces different commodity and energy-related factors from the other companies.
However, historical performance does not guarantee future results. Market prices can also move because of broader economic conditions, investor sentiment, interest rates, and changes in company expectations.
How to Buy Triputra-Related Stocks
Investors who want to purchase TAPG, DSNG, DRMA, ASSA, ASLC, or ADRO can access Indonesian stocks through a licensed securities platform that provides these shares.
For investors using Pluang, the general process is:
- Open the Pluang application and log in.
- Select the Indonesia Stocks section.
- Search for the desired stock code, such as TAPG or ASSA.
- Select Buy and enter the desired price and number of lots.
- Make sure the RDN balance is sufficient for the order and applicable transaction costs.
- Review the order details before confirming the transaction.
- Check the transaction status after the order is submitted.
The minimum purchase is generally one lot, or 100 shares, per stock.
Because several companies are connected through the same business group, investors should also consider portfolio concentration. Owning several companies from one corporate group does not automatically provide full diversification because their businesses can still be exposed to related economic factors.
What Investors Should Check Before Buying
Before making an investment decision, investors can review several areas:
- The latest financial statements.
- Revenue and profit growth.
- Debt and cash flow.
- Dividend history.
- Major shareholder structure.
- Industry and commodity exposure.
- Liquidity and trading volume.
- Corporate actions.
- Valuation compared with historical and industry measures.
- Personal investment objectives and risk tolerance.
In addition, investors should distinguish between a company being associated with a business group and being directly controlled by that group.
This is particularly relevant for ADRO. T.P. Rachmat's personal ownership creates a connection, but the controlling shareholder remains PT Adaro Strategic Investments based on the stated March 31, 2026 ownership data.
The Bottom Line
Triputra Group stocks cover several major sectors of the Indonesian economy. TAPG and DSNG are linked to the palm oil business, DRMA focuses on automotive components, while ASSA operates in vehicle rental and logistics.
ASLC adds exposure to used-car auctions and trading through its relationship with ASSA. Meanwhile, ADRO is sometimes included in discussions because of T.P. Rachmat's personal ownership, but it is not controlled by Triputra.
The different business models mean each stock has its own financial drivers and risks. Therefore, investors should examine each company's financial statements and ownership structure separately.
The prices and financial figures in this article refer to specific periods in 2026 and can change as market conditions develop. Past performance also does not indicate future performance.
This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. All investments carry risks, including the possibility of losing capital. Investors should conduct their own analysis and consider their financial condition and risk profile before making investment decisions.