$HCAR Honda Atlas Cars Limited (HCAR): Result Preview – By Taurus Research
$HCAR
Honda Atlas Cars (Pakistan) Limited
Rs. 237.01
-1.24%
- Board Meeting: November 20, 2025.
- 2QMY26: EPS: PKR 4.5; DPS: NIL; PAT: PKR 649Mn, Up 1.5x YoY.
- HCAR’s net sales are expected to clock in at ~PKR 24Bn in 2QMY26, down 9%QoQ due to drop in sales volume by 12%QoQ. However, sales were up 45%YoY; primarily attributed to the robust recovery in volumes, with unit sales rising to 4,880 compared to 3,348 during the SPLY. This is due to improved supply chain dynamics and relative stability in auto financing. Further, distribution expense is expected to remain on a higher side, arriving at ~PKR 318Mn, up 75%YoY/down 9%QoQ. Similarly, finance cost is expected to arrive at ~PKR 179Mn, down 7%YoY/12%QoQ due to lower interest rates. Finally, we expect HCAR’s quarterly PAT to clock-in at ~PKR 649Mn, down 22%QoQ/up 1.5xYoY. We do not expect the Company to declare any cash dividend for the quarter.