Millat Tractors Limited (MTL) is scheduled to announce its FY24 financial result soon. During FY24, we expect the company to post a profit after tax of PKR 10bn (EPS: PKR 52.1), a surge of 3x YoY compared to PKR 3.4bn (EPS: PKR 17.6). The growth in earnings is primarily expected due to better volumetric sales which are up by 62% YoY. Gross margins are anticipated to improve to 23.1% in FY24 amid PKR-USD stability.

On a quarterly basis, earnings are projected to clock-in at PKR 2.1bn (EPS: PKR 11.2), up by 71% YoY compared to PKR 1.3bn (EPS: PKR 6.5). Alongside the result, we expect the company to pay a final cash dividend of PKR 20.0/share in 4QFY24 (PKR 40.0/share in FY24).

Courtesy – AHL Research