HCAR’s profit surges 3.95x in 3QMY25

News Image

MG News | January 22, 2025 at 04:36 PM GMT+05:00

0:00

January 22, 2025 (MLN): Honda Atlas Car Pakistan (PSX: HCAR) announced its 3QMY25 result today, where the company recorded a profit of Rs566 million (EPS of Rs3.97), up 3.95x YoY.

The earnings jump in the 3QMY25 is due to higher gross margins of 9.2% compared to our expectations of 8.3%.

These 3QMY25 gross margins are also higher than the 8.3% recorded in 3QMY24.

Additionally, distribution expenses saw a significant decline of 20% YoY to Rs147mn, while other operating expenses dropped sharply by 72% YoY to Rs17mn, further contributing to the rise in earnings.

This is primarily because of a substantial decline in overall inflation.

This takes 9MMY25 earnings to Rs1.03bn (EPS of Rs7.19) compared to 9MMY24 profit of Rs964mn (EPS of Rs6.75), up 7% YoY.

Net sales rose by 44% YoY to Rs17.8bn in 3QMY25, driven by an increase in units sold to 3,736 units in 3QMY25 compared to 2,374 units in 3QMFY24.

Administrative expenses increased by 15% YoY to Rs457mn in 3QMY25.

Other income fell by 34% YoY to Rs190mn in 3QMY25.

We believe this decline is due to shorter delivery times for cars.

The effective tax rate stood at 49% for 3QMY25, compared to 37% in 3QMY24.

HCAR is currently trading at MY25E and MY26F PE of 26.35x and 14.38x with dividend yields of 2% and 3% respectively.

Financial Results for the quarter ended December 31, 2024 (Rupees in '000)
  Dec-24 Dec-23  % change 
Sales     17,845,429        12,426,171 43.61%
Cost of sales    (16,202,475)      (11,400,180) 42.12%
Gross profit       1,642,954          1,025,991 60.13%
Distribution and marketing costs         (146,963)           (182,641) -19.53%
Administrative expenses         (457,334)           (398,380) 14.80%
Other income          189,942             288,192 -34.09%
Other expenses           (17,396)             (62,509) -72.17%
Finance cost         (214,923)           (443,266) -51.51%
Profit before levy and taxation          996,280             227,387 338.14%
Levy          109,007  -  -
Profit before taxation       1,105,287             227,387 386.08%
Taxation         (538,884)             (84,136) 540.5%
Profit for the period          566,403             143,251 295.4%
Earnings per share           3.97             1.00 -

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 157,953.47
555.47M
1.14%
1775.65
ALLSHR 96,741.22
1,957.60M
1.16%
1110.83
KSE30 48,198.94
249.79M
1.09%
520.47
KMI30 232,694.17
290.89M
1.31%
3011.94
KMIALLSHR 65,027.13
1,019.78M
1.03%
660.37
BKTi 42,489.56
84.10M
1.35%
566.75
OGTi 31,779.36
15.21M
0.14%
43.57
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,380.00 118,295.00
116,115.00
1555.00
1.34%
BRENT CRUDE 68.31 68.31
67.34
0.36
0.53%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 94.50 94.50
94.50
0.95
1.02%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.10 64.10
63.11
0.40
0.63%
SUGAR #11 WORLD 16.10 16.27
16.10
-0.17
-1.04%

Chart of the Day


Latest News
September 18, 2025 at 04:41 PM GMT+05:00

PKR strengthens 3.42 paisa against USD


September 18, 2025 at 04:30 PM GMT+05:00

PKR’s REER index increases to 100.1 in August


September 18, 2025 at 04:18 PM GMT+05:00

PSX Closing Bell: Marching to a Higher Beat


September 18, 2025 at 03:58 PM GMT+05:00

Pakistan, Iran agree to deepen agricultural cooperation


September 18, 2025 at 03:49 PM GMT+05:00

Kohinoor Energy Limited profit falls 55% in FY25



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg