Author Topic: AGTL -- Al Ghazi Tractors Limited  (Read 112451 times)

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Offline SBM

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Re: AGTL -- Al Ghazi Tractors Limited
« Sticky post on: August 17, 2012, 12:46:57 PM »
Dear all,
AGTL's ordinary shares have a paid up value of 5 rupees not 10 rupees. Please keep in mind while calculating dividend yields. For instance, the dividend announced for 1st half 2012 as 150% is 7.5 rupees NOT 15 rupees.
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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #199 on: August 17, 2012, 12:46:57 PM »

Offline AGz

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #200 on: December 29, 2011, 12:08:53 PM »
Yaar Any one following AGTL.

I bot at 190 on spot. for 20Rs. Div. sold yesterday at 185-186

I just came to know kai iskai Dec Year end hai and has history of 40Rs. Div / share on annual basis.

So remaining 20Rs. kai liay 180 ki buy sahee hai ya wait for dip. Comments?

Face velue of the Share is Rs.5

Oh ... means 20 rs annual dividend. thnx.

@Kamal: I used to follow AGTL and MTL closely .. In current scenario AGTL seems more feasible than MTL .. Although I would suggest you to wait a little to see some downslide .. But remember the annual meeting of AGTL if generally at around 15th of February every year .. So now you know how much time is left .. The company production will play a vital role along with sales volume .. Do tell me what you think
Aurangzeb A. Durrani
MSManiar Financials (Pvt.) Ltd.

Offline kamal

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #201 on: December 29, 2011, 12:24:25 PM »
Yaar Any one following AGTL.

I bot at 190 on spot. for 20Rs. Div. sold yesterday at 185-186

I just came to know kai iskai Dec Year end hai and has history of 40Rs. Div / share on annual basis.

So remaining 20Rs. kai liay 180 ki buy sahee hai ya wait for dip. Comments?

Face velue of the Share is Rs.5

Oh ... means 20 rs annual dividend. thnx.

@Kamal: I used to follow AGTL and MTL closely .. In current scenario AGTL seems more feasible than MTL .. Although I would suggest you to wait a little to see some downslide .. But remember the annual meeting of AGTL if generally at around 15th of February every year .. So now you know how much time is left .. The company production will play a vital role along with sales volume .. Do tell me what you think

MTL sai behtar hai AGTL. But face value nai mood down kardia.

Yes i agree .. wait and c approach.

Abhee PAKRI pakarnay main laga hua huun. ;)
Realize Profit when and wherever u can. Coz its profit for which we are here for not marrying scrips. Fundamentals at KSE  weigh not more than 20-30%. Move with the moves of market. If u move against than u'll be loser and accumulating dividend only.

Offline ally

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #202 on: December 29, 2011, 12:38:53 PM »
Cosnidering payout ratio of 50% to 60% Rs 20/share dividend looks achievable.....might go upto 25, if comany decids to go generous....

Offline kamal

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #203 on: December 29, 2011, 01:01:35 PM »
Cosnidering payout ratio of 50% to 60% Rs 20/share dividend looks achievable.....might go upto 25, if comany decids to go generous....

I have questions regarding generosity. In these testing times.
Realize Profit when and wherever u can. Coz its profit for which we are here for not marrying scrips. Fundamentals at KSE  weigh not more than 20-30%. Move with the moves of market. If u move against than u'll be loser and accumulating dividend only.

Offline AGz

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #204 on: December 30, 2011, 10:14:45 AM »
Cosnidering payout ratio of 50% to 60% Rs 20/share dividend looks achievable.....might go upto 25, if comany decids to go generous....

I have questions regarding generosity. In these testing times.

Its better to save your tail on fire by ruining the pool, rather saving it sacrificing a part of yours.
Aurangzeb A. Durrani
MSManiar Financials (Pvt.) Ltd.

Offline Farzooq

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #205 on: January 02, 2012, 01:17:57 PM »
- A Primer
 


•The tractor industry’s fortunes have followed a topsy turvy path in 2011 with tractors manufacturers clocking in substantial sales growth prior to the imposition of GST in Mar11. Imposition of GST (Incremental Tractor prices increased by PKR 100k-140k) along with declining commodity prices and GoP’s dithering response where they constituted committees for reducing/ taking back GST all combined to reduce tractor demand.
 
•We expect AGTL to report CY11 PAT of PKR 1.48bn (EPS:  PKR 34) as against PAT of 1.9bn (EPS: PKR 44) in CY10, translating into an earnings decline of 23%. AGTL’s tractor sales are expected to decline to 19,767 units in CY11 from 29,164 units in CY10, a reduction of 32%. The company is expected to post topline of PKR 10.9bn in CY11 down 26%.
 
•We expect AGTL’s gross margins to shrink to 17.2% down 20 bps YoY. We believe the company was able to control its costs which resulted in gross margins staying flat while MTL, its biggest competitor, witnessed a small reduction in margins.
 
•At its last close of PKR 192.8, AGTL was trading at a trailing PE of 5.7 and a dividend yield of 10.3%. We have placed the company “Under Review” and would be initiating coverage once the ECC comes up with a final decision on GST imposition on Tractors.
 
 IGI Research
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Offline Dhillon

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #206 on: February 07, 2012, 01:07:04 PM »
Board Meeting 14 Feb 2012  at 1500 hrs

Offline Farzooq

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #207 on: February 11, 2012, 09:45:02 PM »
Al-Ghazi Tractors –CY11E Preview
AGTL is scheduled to announce its CY11 results on February 14th,2012 with
an expected PAT of PKR 1,426m (EPS PKR 33.20) as compared to PKR
1,908m (EPS PKR: 44.45) in FY10, declining by 25%. The turnover is projected
to be at PKR 10,571m as compared to 14,936m during CY10, decreasing
by 29%. We are expecting the company to announce a final dividend
of PKR 5, taking the cumulative dividend to PKR 15 for CY11.

taurus
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Offline Farzooq

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #208 on: February 14, 2012, 12:36:19 PM »


AGTL: CY11 Result Preview

Al Ghazi Tractors Limited (AGTL) is scheduled to finalize its full-year CY11 financial results later today. We expect the company to report NPAT of PkR1,377mn in the review period against NPAT of PkR1,909mn in the previous year, a decline of 28%YoY. The result translates into EPS of PkR32.07 in CY11E against EPS of PkR44.46 in CY10. The decline is expected to result from a 37%YoY decline to 18,254 units in tractor volumes, which should result in a topline decline of 31%YoY. Furtermore, high steel cost and PkR depreciation should lead to a gross margin of 18% in CY11, down 170bpsYoY. Consequently, the operating margin should also decrease to 16% in the review period (from 18.3% in CY10). While the imposition of GST practically wiped out tractor sales in 2HCY11, the beginning of CY12 has brought good news for tractor manufacturers with reduction in GST to 5% (from 16% imposed in the FY12 budget). Tractor sales have, however, remained low marking the growing of Rabi crop. We expect tractor volumes to revive in 2QCY12, as the harvest of Rabi crops begins. Our financial model for AGTL remains under review at present, where we shall update it post the release of detailed CY11 accounts.

akd
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Offline ally

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #209 on: February 14, 2012, 08:13:53 PM »
anyone has update on AGTL result?

Offline JAWAD

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #210 on: February 15, 2012, 09:57:12 AM »
dps of rs 10 with eps of around 31

Offline ally

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #211 on: April 06, 2012, 12:47:42 AM »
Poker Bahi, not much movement despite good sales number for feb.

Any idea how was mar'12.....how if some quantity is bought below 180?

Offline ally

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #212 on: April 18, 2012, 01:42:38 AM »
DESCRIPTION   Q1'12   Q1'11
Sales (Tractor price PKR580k including sales tax)   3,482    4,623
COGS (assuming margin of 17%)   (2,890)   (3,728)
Gross Profit   592    895
      
Distrribution Cost - 15% escalation to Q1'2011   (25)   (21)
Administrattive expenses - 15% escalation to Q1'2011   (42)   (37)
      
Other Operating income - Bank balance 0.6b lower than at the end of 2010   125    160
Other Operating expenses- same as last year   (69)   (69)
Finance cost   (0)   (0)
Profit Before Tax   581    928
Tax   (204)   (306)
Profit after Tax   378    622
      
EPS   8.8    14.47

i have made above P&L for Q1'2012 with lots of assumptions, most important one is the price.
> couldnt get selling price of AGTL, price used for the P&L is rough estimate (can you please guide for future)
> Unit sold from PAMA site

Seniors, could you please review.
Poker Bahi, agar apky pass time ho to nazar mar lan, ap is share par nazar rakhty thi...bhali waqton man ab k pata nah....
« Last Edit: April 18, 2012, 01:44:45 AM by ally »

Offline Dr. Economist

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #213 on: April 18, 2012, 09:59:34 AM »
1Q EPS 9.88
previous 14.47

Offline soulpower

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #214 on: April 18, 2012, 09:22:23 PM »
The result is good,keeping in mind that gst was removed in february.

Offline saifullahkhan7

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #215 on: August 11, 2012, 06:18:48 PM »
AoA


Any expectations of dividends from AGTL in the coming results?
 
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Offline SBM

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #216 on: August 17, 2012, 12:43:01 PM »
q2 2012 eps 13.88 v 11.89 in 2011
dps 7.5
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Offline SBM

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #217 on: August 17, 2012, 12:46:57 PM »
Dear all,
AGTL's ordinary shares have a paid up value of 5 rupees not 10 rupees. Please keep in mind while calculating dividend yields. For instance, the dividend announced for 1st half 2012 as 150% is 7.5 rupees NOT 15 rupees.
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Offline SBM

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #218 on: August 17, 2012, 12:48:16 PM »
 

Al-Ghazi: Plowing ahead

August 17, 2012 BR RESEARCH 0 Comments
 A subsidiary of the Al-Futtaim group of Dubai, Al-Ghazi Tractors Limited is a manufacturer of New Holland (Fiat) tractors in technical co-operation with Case New Holland, the foremost manufacturer of agricultural tractors in the world. Being a household name amongst the farming community, AGTL has a widespread presence across Pakistan, with as many as 82 dealers and 3,000 mechanical workshops spread all over the country.

Following the fiasco that was last year, AGTLs half yearly records show that the company is on a much firmer ground this time around. While 2011 started out on a great note -with Al-Ghazi managing to post a record profit of Rs972.8 million during 1QFY11, which was incidentally the highest since its inception- the following quarters saw a crash in the market following the sudden imposition of a 16 percent sales tax on agricultural equipment. In the months to follow, AGTL, along with other tractor manufacturers, witnessed tractor sales plummet dangerously and had to suffer long stretches of plant closure.

Fast forward nearly a year, and the second quarter ended sales of nearly Rs4.6 billion- jumping 29 percent from the same period last year - are testament of the fact that the company is back on track following its previous trajectory of success.

Whereas a comparison with sales figures from the same period last year reveal unnaturally flattering growth statistics due to the low-base effect, a comparison of sales against the same period in 2010 reveals a healthy increase of 4 percent during the 2QFY12. However a similar comparison between FY11 and FY12 at half year draws negatives for 2012, mainly because of the exceptional first quarter that AGTL had in FY11 which saw them selling 8,602 tractors as compared to 6,004 that were delivered during the first quarter of FY12.

Following the companys initiative to engage pro-actively with farmers and introduce newer version of agricultural implements, sales have gone up to Rs 7.9 billion at the half year-mark and the pent up demand from last year means that they are likely to go up higher in the coming quarters. With profit after taxation going up to Rs596 million versus Rs510 million that was recorded during the second quarter, earnings have climbed up to Rs13.88 per share as compared to an EPS of Rs 11.89 per share recorded at the close of 2QFY11.

Looking forward, production and demand for the locally manufactured agricultural implements are likely to remain strong. During the first quarter, AGTL recorded bookings for 9,234 tractors, out of which it could produce only 4,350 units.

Similarly, the Sindh government has also announced the launch of the 3rd leg of its rural incentive scheme which will see the distribution of 6,000 tractors among farmers at a subsidized rate. Subsequently, the backlog of orders and demand glut for tractors is therefore likely to keep the industry steady on its feet and AGTL thriving in the coming months.
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Offline Dhillon

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Re: AGTL -- Al Ghazi Tractors Limited
« Reply #219 on: September 12, 2012, 09:25:04 PM »
Tractors: A 190% YoY enormous increase in sales

Tractor sales increased immensely by 190% YoY to 2,855 units in comparison with the sale of 957 units in the same period last year. However Aug-12 sales (2,855 units) remain more or like same as of July-12 sales (2,828 units).

Al-Ghazi tractors

registered a sales growth of 300% YoY but sales decline of 28 % MoM to 1,216
units.
Millat tractors

While Millat tractors sales boosted by 151% YoY and 44% MoM to 1,639
units.

AHL

Last year AGTL total Sale( July 11& Aug 11 ) was 615  and now ( July 12 & Aug 12) 2905  
                                                                   

Last year  MTL total Sale( July 11& Aug 11 ) was 1378 and now ( July 12 & Aug 12) 2778        

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