A director at General Tyre & Rubber Co. Pakistan bought 334,000 shares at 29.750PKR and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the ...
AKD Daily GTYR: Analyst briefing takeaways The General Tyre and Rubber company (GTYR) held its analyst briefing session yesterday to discuss its 1QFY22 results. To recall, the company posted NPAT of PkR131mn (EPS: PkR1.07) as compared to PkR126mn (PkR1.03) in same period last year, up 4%YoY and loss of PkR64mn (LPS: PkR0.52) in previous quarter. The gross margin of GTYR has significantly improved in 1QFY22 (GMs: 13% in 1QFY22 vs 7% in 4QFY21) due to the laggard impact of cost pass-on to the...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Millat Tractors Ltd (MTL) reported Q2 FY19 consolidated NPAT of PKR507mn (EPS: PKR11.45), down 70%yoy/61%qoq. This was significantly below our EPS expectation of PKR15.11. MTL also announced first interim dividend of PKR45/sh along with 2Q results. GTYR posted Q2 FY19 NPAT of PKR30mn (EPS: PKR0.30), down 83%yoy/50% qoq, above our projected EPS of PKR0.13, due to higher-than-expected sales. H1 FY19 earnings stand at PKR91mn, down 79% yoy.
We expect IMS Auto Universe to post combined NPAT of PRs6.5bn for Jan-Mar’17 quarter, down 14% YoY/up 11% QoQ. Despite price hikes by all assemblers and healthy volumetric growth (up 28% YoY/8% QoQ), we expect PKR weakness against USD/JPY and gradual rise in CRC prices to weigh on YoY profitability. On a sequential basis, HCAR will see the biggest drop in margins as it kept the prices of BR-V unchanged, in our view. PSMC and INDU, however, will likely maintain their margins in the wake of swi...
We initiate coverage on GTYR, the largest tyre manufacturer in Pakistan, with a TP of PRs210/sh and a Neutral rating. Penetration in the replacement market and impetus from the truck segment (sponsors own GHNI and GHNL) underpin our 3yr sales CAGR of 15%. However, this is balanced by premium valuations and risk of incumbent OEMs shifting to imported tyres going forward. GTYR’s products are used by all Auto OEMs but market share in the large replacement market is estimated at just 7%. We beli...
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