Pak Suzuki Motor Co. Ltd.

Pak Suzuki Motor is engaged in assembling, progressive manufacturing and marketing of Suzuki cars, pickups, vans, and 4X4 vehicles. Co.'s product models include Baleno, Margalla, Mehran, Kyber, Ravi Pickup, Bolan Van and Potohar Jeep.
  • TickerPSMC
  • ISINPK0030501016
  • ExchangePakistan Stock Exchange
  • SectorAutomobiles & Parts
  • CountryPakistan
Abdul Ghani Mianoor

Pakistan Autos: June 2020 sales recover to pre-pandemic levels

In June 2020, Pakistan auto industry sales of 8,753 units (though down 50% yoy) posted a strong recovery compared to May’s sales of 4,527 units (up 93% mom). We attribute this to the pent-up demand post lockdown (March-May). Both premium carmakers, INDU and HCAR, saw a staggering increase in sales, by c.4.6x / 6.0x, compared with their sales in May. PSMC sales were up a relatively modest 9% mom to 3,912 units. FY20 sales are 111,928 units (down 53% yoy). INDU sold 855 units of Corolla, while ...

Abdul Ghani Mianoor

Pakistan Suzuki: 1QCY20 analyst briefing takeaways

PSMC posted 4QCY19 Net loss of PKR234mn (LPS: PKR2.84), bringing CY19 Net loss to PKR2,920mn (LPS: PKR35.49). This compares to a NPAT of PKR1,298mn (EPS: PKR15.77) in CY18. 1QCY20 result continued the downwards trend in earnings, with 1Q Net loss of PKR941mn (LPS: PKR11.44) compared to Net loss of PKR981mn (LPS: PKR11.92) SPLY. Key result highlights for 1QCY20 PSMC sold 13,575 units of locally assembled cars in 1QCY20, which were down 38% qoq and 63% yoy, while CBU sales were 113 units (down ...

Topline Flash Note: Pakistan Suzuki Motor Company: Corporate Briefing Session Notes

Pak Suzuki Motor Company Limited (PSMC) today conducted a Corporate Briefing session, where the management discussed the future outlook. In 2019, PSMC’s car sales declined by 19% YoY to 113,270 units. The major decline was witnessed in 1300cc category, where sales of Swift fell by 30% YoY.  In the 1000cc category, volumes for Cultus & Wagon-R declined by 14% YoY & 32% YoY, respectively. PSMC fared much better in Bikes compared to Automobiles during 2019, as bike sales volume were down by only 2% YoY to 22,589 units. Overall revenues declined by 3% YoY in 2019, where drop in revenues due to f...

Ali Asghar Poonawala

Pakistan Autos_ Sales hit a dead stop , (AKD Daily, May 13, 2020)

Unprecedented, harsh and clearly, one for the history books, reported auto numbers for the outgoing April’20 hit a complete halt, with no sales recorded for PC segment, and major OEMs reporting nil sales as dealerships, plants and product supply chains came to a stop due to COVID-19 lockdown measures imposed across the nation Already on an uneasy footing, April’20 marks the point where 18 consecutive months of flat or declining YoY offtake came to a stop, showcased in weak cumulative 10MFY20 (total industry sales down 52%YoY – levels last seen during FY15) with the core Passenger Car (PC) se...

Abdul Ghani Mianoor

Pakistan Autos: Negligible sales in April due to country-wide lockdown

Pakistan's auto industry sold only 39 units in April 2020, which comprised trucks and buses only. There was no passenger car sales, primarily because of the country-wide lockdown (started 24 March) which resulted in the OEMs shutting down their plants and dealerships being closed. The tractor segment recorded sales of 2,035 units, down 30% mom and 63% yoy. Sales for AGTL saw a 19% mom increase, while those of MTL declined 51% mom. This brings the 10M FY 20 industry sales to 25,534 units (down...

Abdul Ghani Mianoor

Pakistan Autos: June 2020 sales recover to pre-pandemic levels

In June 2020, Pakistan auto industry sales of 8,753 units (though down 50% yoy) posted a strong recovery compared to May’s sales of 4,527 units (up 93% mom). We attribute this to the pent-up demand post lockdown (March-May). Both premium carmakers, INDU and HCAR, saw a staggering increase in sales, by c.4.6x / 6.0x, compared with their sales in May. PSMC sales were up a relatively modest 9% mom to 3,912 units. FY20 sales are 111,928 units (down 53% yoy). INDU sold 855 units of Corolla, while ...

Abdul Ghani Mianoor

Pakistan Suzuki: 1QCY20 analyst briefing takeaways

PSMC posted 4QCY19 Net loss of PKR234mn (LPS: PKR2.84), bringing CY19 Net loss to PKR2,920mn (LPS: PKR35.49). This compares to a NPAT of PKR1,298mn (EPS: PKR15.77) in CY18. 1QCY20 result continued the downwards trend in earnings, with 1Q Net loss of PKR941mn (LPS: PKR11.44) compared to Net loss of PKR981mn (LPS: PKR11.92) SPLY. Key result highlights for 1QCY20 PSMC sold 13,575 units of locally assembled cars in 1QCY20, which were down 38% qoq and 63% yoy, while CBU sales were 113 units (down ...

Topline Flash Note: Pakistan Suzuki Motor Company: Corporate Briefing Session Notes

Pak Suzuki Motor Company Limited (PSMC) today conducted a Corporate Briefing session, where the management discussed the future outlook. In 2019, PSMC’s car sales declined by 19% YoY to 113,270 units. The major decline was witnessed in 1300cc category, where sales of Swift fell by 30% YoY.  In the 1000cc category, volumes for Cultus & Wagon-R declined by 14% YoY & 32% YoY, respectively. PSMC fared much better in Bikes compared to Automobiles during 2019, as bike sales volume were down by only 2% YoY to 22,589 units. Overall revenues declined by 3% YoY in 2019, where drop in revenues due to f...

Ali Asghar Poonawala

Pakistan Autos_ Sales hit a dead stop , (AKD Daily, May 13, 2020)

Unprecedented, harsh and clearly, one for the history books, reported auto numbers for the outgoing April’20 hit a complete halt, with no sales recorded for PC segment, and major OEMs reporting nil sales as dealerships, plants and product supply chains came to a stop due to COVID-19 lockdown measures imposed across the nation Already on an uneasy footing, April’20 marks the point where 18 consecutive months of flat or declining YoY offtake came to a stop, showcased in weak cumulative 10MFY20 (total industry sales down 52%YoY – levels last seen during FY15) with the core Passenger Car (PC) se...

Abdul Ghani Mianoor

Pakistan Autos: Negligible sales in April due to country-wide lockdown

Pakistan's auto industry sold only 39 units in April 2020, which comprised trucks and buses only. There was no passenger car sales, primarily because of the country-wide lockdown (started 24 March) which resulted in the OEMs shutting down their plants and dealerships being closed. The tractor segment recorded sales of 2,035 units, down 30% mom and 63% yoy. Sales for AGTL saw a 19% mom increase, while those of MTL declined 51% mom. This brings the 10M FY 20 industry sales to 25,534 units (down...

Ali Asghar Poonawala

Pakistan Autos: Sales are ‘up in smoke’, (AKD Daily, Sep 13, 2019)

Aug’19 total automotive industry sales stood at 10,503 units down 20%MoM/43%YoY pulled lower by 17%MoM/41%YoY dip in passenger car (PC) sales to 9,126 units, 33%MoM/53%YoY decline in LCV offtake and 41%MoM/61%YoY fall in Truck sales, concluding five months of consecutive sales decline for the industry where TTM cumulative industry sales depict levels last seen in 2015 Segment-wise sales during August show 1,300CC+ segment sales crumbling (down 17%MoM/63%YoY) in the absence of any major model upgrades (atypical for the segment) while relatively nascent offerings by PSMC in the mid (1,000CC sal...

Team AKD Research

Pakistan Auto: Slimmer sales jump this January

Following a trimmed 4QCY18, a lean start to CY19 is seen with Jan’19 total industry sales of 23,140 units (+16%MoM/-6%YoY) consisting of 19,353 passenger cars (+20%MoM/-3%YoY), 3,185 LCVs & Pickups (-4%MoM/-12%YoY) and 537 Trucks (+78%MoM/-39%YoY), marking the slowest MoM move since Jan’07 For the passenger car segment, premium segment sales hunkered-on where 1300+ segment sales of 9,750 units (+49%MoM/+13%YoY) allowed premium players INDU/HCAR to record sales growth of +17%/+91%MoM and +16%/+3%YoY, whereas 800CC and below segment sales receded (4,318 units down 12%MoM/34%YoY), suppressing PS...

Pakistan Autos_ups & downs are what cycles are made of

Tepid August'18 PAMA sales data (total industry sales of 18,384units -17%MoM/-20%YoY illustrates sector dampeners (input pressures and price hikes, lack of new models) catching up to restrict demand, with the non-filer sales ban being the straw that breaks the camel's back. Seasonality played-out during the month (Eid effect, end of Kharif season), where cumulative 8MCY18 total industry sales of 180,300 units (+10%YoY) remains a better barometer for judging industry health (seasonal variations evened out by longer periods). Cumulative sales were up +13/+12/+5%YoY for PSMC/HCAR/INDU during 8M...

Ali Asghar Poonawala

Pakistan Autos: PAPS 2019 reflects a 'not-so-green light' for entrants

PAPAM's Pakistan Auto Show 2019, held in Karachi over the weekend was filled with exhibitors from the auto industry cluster, parts manufacturers, allied equipment, service providers and OEMs.  Refining our outlook for the competitive environment and forming a birds-eye-view of the sector we highlight the prevalence of Chinese origin brands, favouring shorter timespan brownfield entry over greenfield investments, and competitive pricing with enhanced features of PC segment offerings (both current and expected) as catalysts for organic growth  That said, amongst Greenfield entrants, KIA put up...

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