Mulia Industrindo

What Mulia Industrindo does

PT Mulia Industrindo Tbk is an Indonesian publicly listed holding company (IDX: MLIA) founded in 1986 whose sole operating subsidiary, PT Muliaglass (established 1989), manufactures four categories of glass products — float glass, glass containers, glass blocks, and automotive safety glass — from a single integrated manufacturing estate in Cikarang, Bekasi. The company's products serve three end-markets: construction and architectural applications (plain, colored, and low-e float glass in 2–15mm thicknesses plus architectural glass blocks), food, beverage, and consumer goods packaging (transparent and colored container glass including mugs, cups, and 330ml stout bottles), and automotive OEMs and aftermarket (with installed automotive safety glass capacity of 120,000 car sets per year, established in October 1997). The company has undergone a deliberate focus on its core glass business, divesting its ceramics subsidiary (PT Muliakeramik Indahraya) to affiliated company PT Eka Gunatama Mandiri in October 2017 to strengthen its financial position.

The business operates a direct, sales-led B2B model with a Sales and Marketing Office in Jakarta (Atrium Mulia, H.R. Rasuna Said) serving enterprise buyers alongside factory-direct sales from the Cikarang estate. Revenue mechanics are pure hardware sales of manufactured glass; no software, services, or subscription revenue streams are disclosed. The company is publicly listed on the Indonesia Stock Exchange (formerly Jakarta Stock Exchange) since January 17, 1994, providing access to public capital markets and standard listed-company disclosure obligations. Customer testimonials reference "international quality" and after-sales service, though no large enterprise customer logos are disclosed. Marketing channels are limited to a corporate website, investor relations materials, sustainability newsletters, and an e-recruitment portal; no digital sales channels or marketplace presence exist.

The company's strategic posture is mature and concentrated: Indonesia-only operations, four product divisions unchanged in structure since 1997, a defensive 2017 divestiture to refocus on glass, and recent activity limited to internal training programs through Mulia Academy and sustainability reporting rather than capacity expansion, geographic expansion, or new product launches. Founder Eka Tjandranegara remains President and Director. Financial data shows declining revenue and sharply compressing EBITDA through 2025, with net income turning negative — indicating cyclical or structural pressure on the business.

Name

Mulia Industrindo

Legal name

PT Mulia Industrindo Tbk

Website

https://muliaindustrindo.com

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

PT Mulia Industrindo Tbk is an Indonesian publicly listed holding company whose subsidiary PT Muliaglass manufactures float glass, glass containers, glass blocks, and automotive safety glass for construction, food/beverage packaging, and automotive OEM customers across Indonesia.

Ownership category

akta.pro rank

Product category

Glass Manufacturing

NAICS

Flat Glass Manufacturing (327211), Glass Container Manufacturing (327213), Glass and Glass Product Manufacturing (32721), Other Pressed and Blown Glass and Glassware Manufacturing (327212)

SIC

Glass Containers (3221), Flat Glass (3211), Glass & Glassware, Pressed Or Blown (3220)

akta.pro industry

PRIMARYIMADAHAA

Flat Glass (Float/Sheet/Plate) Manufacturing

Industrials, Manufacturing & Construction/Building Materials & Products/Glass & Glazing Products

SECONDARYIMALAEAA

Food & Beverage Glass Packaging (Beer, Wine, Spirits, Soft Drinks, Water)

Industrials, Manufacturing & Construction/Packaging & Containers/Glass Packaging (Bottles, Jars)

SECONDARYIMALAEAG

Lightweight & High-Performance Glass Packaging (Reduced Weight, Strengthened)

Industrials, Manufacturing & Construction/Packaging & Containers/Glass Packaging (Bottles, Jars)

SECONDARYIMALAEAE

Specialty & Decorative Glass Packaging (Custom Shapes, Embossed, Premium)

Industrials, Manufacturing & Construction/Packaging & Containers/Glass Packaging (Bottles, Jars)

Keywords

• Float glass manufacturing
• Glass container production
• Architectural glass blocks
• Automotive safety glass
• Low-E glass products

Headquarters

HQ city

Bekasi

HQ country

Indonesia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Glass Manufacturing and Trading: PT Mulia Industrindo was established as a trading company for goods manufactured by its subsidiaries, primarily PT Muliaglass. The company manufactures and sells float glass, glass containers, glass blocks, and automotive safety glass. The company is listed on the Indonesia Stock Exchange (Jakarta Stock Exchange) under ticker code associated with the company, with share price publicly disclosed (IDR 240.00 as of June 26, 2026).

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

PT Mulia Industrindo manufactures and sells glass products through its wholly-owned subsidiary PT Muliaglass, producing float glass (plain, colored, and low-E in 2–15 mm thickness), glass containers (mugs, cups, and transparent/colored packaging for food, beverages, and beer), glass blocks (architectural building material), and automotive safety glass (capacity of 120,000 car sets per year). The parent entity itself was established as a trading company for the goods manufactured by its subsidiaries.

Product overview

PT Mulia Industrindo Tbk is a leading glass manufacturer in the world operating as a holding/trading company for its subsidiary PT Muliaglass. The company offers four main product divisions: Float Glass (producing plain and colored float glass and low-e glass), Glass Container (producing mugs, cups, and container glass for food and beverages), Glass Block (architectural glass blocks for walls and floors), and Automotive Safety Glass (producing automotive safety glass with 120,000 car sets per year capacity). The company was established on November 5, 1986 and listed on the Jakarta Stock Exchange on January 17, 1994.

Differentiator

Problem solved

Functional benefit

Brands

• PT Muliaglass: Core operating subsidiary producing float glass, glass container, glass block, and automotive safety glass products.

Products and services

• Float Glass Produces plain and colored float glass (dark grey, dark blue, bronze, euro grey, light green, grey) and low-E glass in thicknesses of 2–15 millimeters, used in construction, architecture, and industrial glazing applications.
• Glass Container Produces mugs, cups, and transparent and colored container glass used as packaging for food, beverages, and beer. Featured products include the 330 ml Stout Bottle and Amber Bottle.
• Glass Block Produces architectural glass block products used as building materials for application on walls and floors. Featured product is the Bromo glass block (190 x 190 x 80/95 mm / 8 x 8 x 3 inch).
• Automotive Safety Glass Produces automotive safety glass for passenger vehicles, with installed production capacity of 120,000 car sets per year. Featured product includes the Back Door Window for vehicle rear door applications.

Quantifiable outcome

• Automotive Safety Glass Division — installed capacity of 120,000 car sets per year

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• PT Eka Gunatama MandiriminorOthers · 1 October 2017In October 2017, PT Mulia Industrindo sold all of its shares in PT Muliakeramik Indahraya to PT Eka Gunatama Mandiri, an affiliated company. This corporate action was undertaken to support the company's plan to improve and strengthen its financial position as a public listed company. Post-divestment, Mulia Industrindo operates only one subsidiary: PT Muliaglass.

Scale indicators5 records

Recent moves5 records

Direct peers

• Asahimas Flat Glass: Indonesian float glass and mirror manufacturer listed on IDX; the most direct domestic competitor to Mulia's float glass division, serving overlapping construction and architectural customers in the same geography.
• Fuyao Glass Industry Group: Chinese automotive safety glass leader and major OEM supplier; the most direct comparable to Mulia's Automotive Safety Glass Division given similar OEM customer base and laminated/tempered glass capabilities.
• Xinyi Glass Holdings: Hong Kong-listed Chinese float glass, automotive glass, and solar glass producer; comparable as a large-scale diversified glass manufacturer with float glass as a core product, and a key regional competitor for float and architectural glass pricing.
• Kibing Group: Chinese float glass producer with significant Southeast Asian presence; comparable to Mulia's float glass division as a regional float glass competitor with similar commodity-grade product positioning.

Broad incumbents

• AGC Inc. (Asahi Glass): Japanese global glass manufacturer producing flat glass, automotive glass, and display glass; directly comparable to Mulia's float and automotive safety glass divisions as a major Asian glass incumbent.
• Saint-Gobain: French global building materials and glass giant; overlaps with Mulia across flat glass, glass containers, and architectural products but operates at vastly greater scale with a much broader product portfolio.
• Vitro (Vitro SAB de CV): Mexican glass manufacturer producing flat glass, automotive glass, and glass containers; comparable to Mulia's diversified glass product portfolio across construction, packaging, and automotive end markets.
• Şişecam: Turkish flat glass, container glass, and glassware manufacturer; comparable as a diversified multi-division glass producer with float, container, and architectural glass products competing in similar end markets.
• NSG Group (Nippon Sheet Glass): Japanese/UK-based flat and automotive glass producer (Pilkington owner); overlaps with Mulia's float glass and automotive safety glass businesses and serves similar global OEM and construction customers.

Regional players

• PT Surya Toto Indonesia: Indonesian-listed sanitary ware and bathroom products manufacturer; included as a regional Indonesian industrial peer of similar scale and listed-company profile, though operating in a different product category (ceramics/sanitary) versus Mulia's glass focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/pt-mulia-industrindo-tbk

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mulia Industrindo