External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Honda Atlas Car Pakistan (HCAR) announced its 2QMY25 result today, where the company recorded profit of Rs258mn (EPS of Rs1.80), down 62% YoY and 27% QoQ. The result came lower than industry expectations.</li><li>The earnings declined in outgoing quarter due to lower gross margins of 7.4% compared to 10.9% in 2QMY24 and significant fall in other income by 91% from Rs897mn to Rs85mn.</li><li>This takes 1HMY25 earnings to Rs460mn (EPS of Rs3.22) compared to 1HMY24 profit of Rs820mn (EPS of Rs5.74), down 44% YoY.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Honda Atlas Car Pakistan (HCAR) announced its 2QMY25 result today, where the company recorded profit of Rs258mn (EPS of Rs1.80), down 62% YoY and 27% QoQ. The result came lower than industry expectations.The earnings declined in outgoing quarter due to lower gross margins of 7.4% compared to 10.9% in 2QMY24 and significant fall in other income by 91% from Rs897mn to Rs85mn.This takes 1HMY25 earnings to Rs460mn (EPS of Rs3.22) compared to 1HMY24 profit of Rs820mn (EPS of Rs5.74), down 44% YoY.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Honda Atlas Cars (HCAR) - 2QMY25 EPS at Rs1.80, Down 62% YoY up 27% QoQ - Lower than Expectations