March 16, 2023 (MLN): Sazgar Engineering Works Limited (SAZEW) sold 1,464 units of Auto Rickshaw during the month of February 2023, which was around 27% MoM lower than the sales of 2,003 units made in the previous month, the company’s filing on PSX said today.
Meanwhile, the company produces 760 units of Auto Rickshaw, i.e., decreased by 23.23% MoM from the units produced during the previous month.
In addition, the company sold 310 units of four wheelers-off road and passenger vehicles and produced 269 units in February 2023.
The company is a premier manufacturer of CNG 4 Stroke Auto Rickshaw (3 Wheelers) and Automotive Wheel Rims.
SAZEW in its financial results for 1HFY23 reported net profits of Rs79.11 million during 1HFY23, down by 15% YoY against Rs93.14mn net profits in the same period last year.
This has translated into earnings per share (EPS) of Rs1.31 in 1HFY23, compared to EPS of Rs1.54 in 1HFY22.
With manufacturing facilities based in Pakistan and a Global Dealer Network, Sazgar is leading the market in Pakistan and also exporting to international markets.
Last year, the company had been awarded “Category -A, Greenfield Investment status” by the Ministry of Industries & Production of Pakistan.
