Author Topic: INDU -- Indus Motor  (Read 179982 times)

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Offline Deep_Value

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Re: INDU -- Indus Motor
« Reply #759 on: October 12, 2018, 08:24:29 PM »
🤔🤔🤔
Price is looking very attractive right now or am I missing something?

same confusion here.
most shares look attractive than later they become more attractive  :[ :[

Profitability of Auto sector will be dented due to filer issue, new entrants and rupee depreciation

Pakinvestorsguide

Re: INDU -- Indus Motor
« Reply #759 on: October 12, 2018, 08:24:29 PM »

Offline SBM

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Re: INDU -- Indus Motor
« Reply #760 on: October 13, 2018, 11:05:42 PM »
🤔🤔🤔
Price is looking very attractive right now or am I missing something?

same confusion here.
most shares look attractive than later they become more attractive  :[ :[

Profitability of Auto sector will be dented due to filer issue, new entrants and rupee depreciation

sales will fall drastically
for the same car, financing cost will have doubled in 18 months via increase in interest rates and increase in cost of the car
I hate waking up.

Offline DEVDAS

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Re: INDU -- Indus Motor
« Reply #761 on: October 14, 2018, 07:45:15 PM »
🤔🤔🤔
Price is looking very attractive right now or am I missing something?

same confusion here.
most shares look attractive than later they become more attractive  :[ :[

Profitability of Auto sector will be dented due to filer issue, new entrants and rupee depreciation

sales will fall drastically
for the same car, financing cost will have doubled in 18 months via increase in interest rates and increase in cost of the car

V"drastically" means fall of sale by 50%?.
Kindly clarify.
Analyst is an expert who will know tomorrow why what he predicted yesterday didn't happen today!

Offline Farzooq

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Re: INDU -- Indus Motor
« Reply #762 on: October 23, 2018, 12:38:01 PM »
INDU- 1QFY19 results to reflect normalization in earnings: We expectIndus Motor
Company Limited (INDU) to post 1QFY19 earnings of PKR3.7bn (EPS: PKR47.2). Earnings
are expected to witness a decline of 10% QoQ mainly led by volumes attrition of 7%QoQ
and normalization in sales of high margin variants (Hilux and Fortuner) post end of
election season. This along with currency pressure is likely to result in a decline of 163bps
in gross margins to 15.7% in 1QFY19. We expect the company to maintain a dividend
payout of PKR30/sh along with the result. We believe the launch of new Corolla Xli (AT),
during the outgoing quarter, reflects INDU’s resolve to remain ahead of competition.
INDU has also announced another project of de-bottlenecking of its paint shop which is
expected to come online in FY20. This is in addition to the recent ongoing debottlenecking
project, which is expected to be fully operational by end of Dec’18.

bma
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Offline Farzooq

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Re: INDU -- Indus Motor
« Reply #763 on: October 25, 2018, 01:04:15 PM »
INDU: Profitability to plunge by 12% YoY and 22% QoQ

The financial result of Indus Motor Company Limited (INDU) is scheduled to be announced on October 26th 2018. We expect profitability during 1QFY19 to decline by 12% YoY and 22% QoQ to PKR 3.21bn (EPS: PKR 40.82) against PKR 3.63bn (EPS: PKR 46.17) during 1QFY18 and PKR 4.14bn (EPS: PKR 52.62) last quarter. Topline is expected to witness a growth of 13% YoY to PKR 35.25bn attributable to volumetric growth of 2% YoY to 15,419 units (Corolla 13,196 units, Fortuner 606 units, Hilux 1,617 units) vs. 15,087 units (Corolla 12,765 units, Fortuner 792 units, Hilux 1,530 units) in 1QFY18 coupled with increase in prices across all variants with an average of over 10-15%. On the other hand, we project gross margins of the company to decline by 259bps YoY to 14.84% amid drastic PKR depreciation of 18% YoY along with increase in duties on imported raw materials and change in sales mix from high margin Fortuner. Along with this, we expect the company to announce a dividend of PKR 30.00/share.
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Offline Farzooq

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Re: INDU -- Indus Motor
« Reply #764 on: October 26, 2018, 12:24:49 PM »
1QFY19 Earnings Dropped by 3% YoY

Indus Motor Company Limited (INDU) announced their financial results today, posting earnings of PKR 3,508mn (EPS: PKR 44.63), down by 3% YoY and 15% QoQ from PKR 3,629mn (EPS: PKR 46.17) and PKR 4,136mn (EPS: PKR 52.62). Along with the result, INDU also declared an interim cash dividend of PKR 32.50/share vs PKR 30.00/share in 1QFY18.

Result Highlights

·         Topline witnessed a growth of 12% YoY to PKR 35bn attributable to volumetric growth of 2% YoY to 15,419 units (Corolla 13,196 units, Fortuner 606 units, Hilux 1,617 units) vs. 15,087 units (Corolla 12,765 units, Fortuner 792 units, Hilux 1,530 units) in 1QFY18 coupled with increase in prices across all variants with an average of over 10-15%.

·         Gross margins settled at 14.46% down by 297bps YoY amid drastic PKR depreciation of 18% YoY along with increase in duties on imported raw materials and change in sales mix from high margin Fortuner.

·         Other income increased by 23% YoY to PKR 1,053mn amid increase in short term investments.

·         Effective tax rate during 1QFY19 was set at 30.1% in contrast to 29.8% in 1QFY18.

 Recommendation:

·         Currently, we have a ‘HOLD’ call on the stock with a Dec’18 target price of PKR 1,427/share.
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Offline Farzooq

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Re: INDU -- Indus Motor
« Reply #765 on: January 23, 2019, 12:10:37 PM »
INDU: Volumetric growth and better sales mix to drive earnings by +5%YoY
to PKR 49.9/share for 2QFY19
We expect company to post earnings of PKR 3.92bn (EPS: PKR49.92) up by +5.0%YoY
as sales volume witnessed a rise of +14.4%YoY to 17.21k units during 2QFY19. Within
sales segment Corolla and Hilux witnessed positive growth of +17%/+10%YoY, while
sales of Fortuner collapsed by 24%YoY. We estimate net sales to climb by +24%YoY to
PKR 39.6bn for 2QFY19 attributed to increase in volumes and price hikes. However,
despite price increase margins may dwindle by 300bps YoY to ~15%. On cumulative
basis, for the 1HFY19, profitability is expected to remain flat at PKR 7.4bn (EPS: PKR
94.55) on the back of combined effect of 8.3%Yoy increase in volumes and other
income (+24%YoY), partially countered by decreased gross margins (down by 300 bps
YoY/ 14.70%). Lastly, we expect INDU to pay out cash dividend of PKR 35/share, for
the quarter, taking total payout to 67/share for the 1HFY19.
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Offline Farzooq

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Re: INDU -- Indus Motor
« Reply #766 on: February 21, 2019, 01:00:02 PM »
INDU: 2QFY19E Profitability to grow by 1% QoQ

We expect profitability during the 1HFY19 to decrease by 4% YoY to PKR 7,049mn (EPS: PKR 89.68) against PKR 7,364mn (EPS: PKR 93.69). Topline is expected to witness a growth of 17% YoY to PKR 73.9bn attributable to volumetric growth of 8% to 32,631 units vs. 30,134 units in 1HFY18 coupled with increase in prices across all variants. On a sequential basis, we project the company to post earnings of PKR 3,541mn (EPS: PKR 45.05) depicting a drop of 5% YoY and increase by meagre 1% QoQ. Topline is expected to grow by 21% YoY owing to higher sales of Corolla - up by 17% YoY - and Hilux - up by 10% YoY - (sales units during 2QFY19 up by 14% YoY to 17,212 vs 15,047 in SPLY). Moreover, we expect margins to deteriorate by 46bps QoQ and 373bps YoY to 14% owing to depreciation of PKR against USD by 8% QoQ and JPY against USD by 1% QoQ resulting in decline in gross margins. However, decline in steel prices by 6% QoQ supported gross margins in the period under review. Along with this, we expect the company to announce a dividend of PKR 32.50/share vs PKR 32.50/share in SPLY.
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Offline Farzooq

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Re: INDU -- Indus Motor
« Reply #767 on: February 25, 2019, 12:52:29 PM »
Indus Motor Company Limited (INDU)

Earnings down to PKR 43.31/share for 2QFY19 as gross margins compressed by 500bpsYoY to 12.3%; Dividend at PKR 25.00/share

 ·         Indus Motor Company Limited (INDU) announced its financial results for 2QFY19 wherein the company reported earnings of PKR 3.40bn (EPS: PKR 43.31), compared to PKR 3.74bn (EPS: PKR 47.53) in the same quarter last year, down by 9%YoY. On a cumulative basis, earnings for 1HFY19 have decreased by 6%YoY to PKR 6.91 (EPS: PKR 87.94).

·         The company announced a cash dividend of PKR 25.00/share along with the result, compared to PKR 32.50/share in the same period last year.

·         Net sales increased by +30%YoY to PKR 41.55bn led by volumetric increase and price hikes.

·         Major erosion to earnings came from weak gross margins which have collapsed by 500bpsYoY to 12.3% owing to rising costs from PKR depreciation during the quarter.

·         Operating profit decreased by 10%YoY to PKR 4.36bn spurred by increase of 14%YoY in selling and distribution expenses. However, the impact was arrested by rise in other income, up by +14%YoY to PKR 1.05bn with ample liquidity tied in short term investments.
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Offline mapk12

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Re: INDU -- Indus Motor
« Reply #768 on: March 15, 2019, 06:26:02 AM »
Is it good to buy here? At 1300

Online Farhan Kermani

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Re: INDU -- Indus Motor
« Reply #769 on: March 15, 2019, 08:54:47 AM »
dont think so. dont buy any share of high value right now

Offline junaid4

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Re: INDU -- Indus Motor
« Reply #770 on: March 30, 2019, 11:31:26 AM »
I have received e-Dividend # 49 from CDC with message that Dividend is unpaid due to "transaction not being processed by 1-link system" ,,, has anyone else has also received such message and how to resolve as bank details are correct appearing under e-Dividend

Offline Farzooq

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Re: INDU -- Indus Motor
« Reply #771 on: April 05, 2019, 12:43:40 PM »
INDU- Margins to decline amid changing sales mix: We expect Indus Motor Company
Limited (INDU) to post 3QFY19 earnings of PKR3.5bn (EPS: PKR44.9). Earnings are
expected to witness a humble rebound of 4% QoQ largely supported by timely increase in
car prices providing relief on margins in the wake of currency weakness. Topline for the
quarter is expected to clock in at PKR40.6bn, up 10% YoY, on the back of (i) 5% increase in
volumetric sales and (ii) 5% rise in average vehicle prices compared to the same period
last year. However, gross margins are likely to decline by 468 bps YoY to stand at 12.8%
amid pressures on currency as PKR declined by 26% against the USD in the past 1-yr. We
expect the company to declare a dividend payout of PKR25/sh along with the result.
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Offline nma

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Re: INDU -- Indus Motor
« Reply #772 on: April 05, 2019, 11:20:17 PM »
Is it good to buy here? At 1300

It's a good bye.  :[

Offline Farzooq

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Re: INDU -- Indus Motor
« Reply #773 on: April 23, 2019, 03:01:50 PM »
INDU: 3QFY19 Earnings to Drop by 17% YoY

Indus Motor Company Limited (INDU) is scheduled to announce its financial result for 9MFY19 on 26th Apr’19, where we expect profitability during the 9MFY19 to decrease by 10% YoY to PKR 10,478mn (EPS: PKR 133.31) against PKR 11,636mn (EPS: PKR 148.04). Topline is expected to witness a growth of 17% YoY to PKR 117.3bn attributable to volumetric growth of 7% to 49,566 units vs. 46,427 units in 9MFY18 coupled with average increase of 12-17% in prices across all variants. On a sequential basis, we project the company to post earnings of PKR 3,566mn (EPS: PKR 45.37) depicting a drop of 17% YoY and increase of 5% QoQ. Topline is expected to grow by 11% YoY owing to higher sales of Corolla (up by 16% YoY to 15,039 units) while Hilux and Fortuner volumes plunged by 50% YoY and 31% YoY (sales units during 3QFY19 up by 4% YoY to 16,935 vs 16,293 in SPLY). Moreover, we expect margins to deteriorate by 455bps to 12.9% YoY owing to depreciation of PKR against USD by 25% YoY and JPY against USD by 2% YoY resulting in decline in gross margins.
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