Sazgar Engineering Works (SAZEW) Q2 2026 earnings summary

Executive summary

• Record H1 FY2025-26 sales of PKR 67.85bn; net profit rose to PKR 8.44bn and EPS to PKR 139.64 from PKR 109.60 YoY.

• Q2 sales increased 85.29% YoY to PKR 34.02bn; gross profit rose 57.97% to PKR 8.23bn and pre-tax profit 56.16% to PKR 6.59bn.

Financial highlights

• H1 net sales rose 51.80% YoY to PKR 67.85bn; gross profit increased 30.55% to PKR 16.75bn and pre-tax profit 27.68% to PKR 13.84bn.

• H1 operating profit was PKR 12.81bn; net profit from continuing operations was PKR 8.44bn, versus PKR 6.63bn a year earlier.

• Q2 net profit was PKR 4.02bn versus PKR 2.41bn YoY; EPS rose to PKR 66.56 from PKR 39.83.

• H1 sales mix: four-wheelers PKR 63.51bn, three-wheelers PKR 3.95bn and tractor wheel rims PKR 0.38bn.

Outlook and guidance

• Auto-sector growth is expected to continue in H2 FY2025-26, while the new 2026-31 auto policy remains under government consideration.

• Bookings for TANK 500 HEV and PHEV variants began Jan. 26, 2026; management expects a good market response.

• Three-wheeler recovery is expected to support sales and profitability; ongoing NEV focus and local-assembly investment are intended to strengthen long-term market positioning.