Automobiles financial results preview

Indus Motor Company Limited (INDU)

We estimate Indus Motor to post PAT of PKR5,118mn (EPS: PKR65.11) in 2QFY22 as compared to PKR PKR2,956mn (EPS: PKR 37.60) in the corresponding period last year, depicting the massive increase of 73%YoY owing to a surge in sales volume by 35%YoY. The last year’s sales volume was depressed due to the covid-19 pandemic. The cash dividend of PKR30/share is also expected along with 2QFY22 results.

Pak Suzuki Motor Company Limited (PSMC)

Pak Suzuki Motor Company Limited (PSMC) is estimated to post a profit after tax of Rs902mn (EPS PKR10.95) in 4QCY21, as compared to a net profit of PKR1,009mn (EPS: PKR 12.28) in the SPLY.

Honda Atlas Cars (Pakistan) Limited (HCAR)

During 3Q2022 (Oct-Dec 2021), HCAR is expected to post PAT of Rs1,331mn (EPS: PKR9.32) as compared to PAT of PKR752mn (EPS: PKR5.26) in the corresponding period last year. The massive growth is expected due to escalation in sales volume owing to the re-opening of economic activities and low-interest rates. The sales volume surged by 67% to 10.4k units in Oct-Dec’21, after launching of new City model.

Courtesy – ‘Spectrum Research’

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