$HCAR Honda Atlas Cars Limited (HCAR): 3QMY26 EPS clocked-in at PKR 4.59; PAT up 16% YoY – By Taurus Research
$HCAR
Honda Atlas Cars (Pakistan) Limited
Rs. 235.68
-1.80%
- 3QMY26: EPS: PKR 4.59; DPS: NIL; PAT: PKR 655Mn, up 16%YoY.
- HCAR’s net sales clocked-in at ~PKR 33Bn in 3QMY26, up 30%QoQ due to increase in sales volume by 47%QoQ. However, sales were up 85%YoY; primarily attributed to the robust growth in volumes, with unit sales rising to 7,159 compared to 3,736 during the SPLY. This is due to improved supply chain dynamics and relative stability in auto financing. Further, distribution expense remained on a higher side, arriving at ~PKR 451Mn, up 2.1xYoY/51%QoQ. Similarly, finance cost increased robustly by 76%QoQ to PKR 553Mn in 3QMY26. Further, HCAR’s quarterly PAT arrived at ~PKR 655Mn, down 12%MoM on account of significant increase in the finance cost despite improved core earnings. Lastly, the Company did not announce a cash dividend for the quarter.