Qudsia Bano

Agriauto Industries Limited’s revenue climbed 52% to Rs11.6 billion in the first nine months of the previous fiscal year 2021-22, compared with Rs7.6 billion in the corresponding period of fiscal 2020-21. Similarly, the profit-before-tax of the company, registering a growth of 12% during the nine months of FY22, stood at slightly over Rs1 billion from Rs899 million in the corresponding period of FY21. The net income increased 4% to Rs726 million compared to profit of Rs701 million in the corresponding period of FY21, reports WealthPK.

Annual Results 2020-21

As of June 30, 2021, individuals owned 33.50% shares of the company. Joint stock companies owned 4.21% shares, while banks, development financial institutions and non-banking financial institutions, modarabas and pension funds owned 4.95% of the total shares of the company. Associated companies and mutual funds held 7.35% and 6.38% shares, respectively. Foreign investors and ‘others’ had 42.24% and 1.05% shares, respectively.

Financial Performance

During the fiscal year 2020-21, the company maintained a strong sales trend on consolidated basis, generating net sales revenue of Rs10.4 billion with an increase of 100% as against Rs5.2 billion in 2019-20. The gross profit for the year 2020-21 was Rs1.6 billion, 541% up from Rs251.5 million the previous year. Profit-after-taxation for FY21 was Rs829 million, up 865% compared to a loss of Rs108.4 million in FY20.

The earnings per share (EPS) of the company showed remarkable growth and reached Rs20.37 in 2017, but it decreased to Rs18.07 in 2018. The EPS took a plunge in 2020 and stood at -1.03. However, the EPS recovered briskly and cranked up to Rs22.62 in 2021.

Agriauto Industries Limited was incorporated in Pakistan on June 25, 1981 as a public limited company. It is a holding company. The business specialises in the production and marketing of parts for tractors, motorcycles, and automobiles. The company's product line includes both aftermarket and original equipment manufacturers (OEM) components. Shock absorbers and struts, motorcycle shock absorbers and parts, sheet metal press parts, tractor parts, and other parts are among the company's product offerings. It also meets the needs of clients in the aftermarket. It produces full shock absorber assemblies as well as shock absorber parts. It manufactures a variety of sheet metal components for OEM, including reinforced instrument panels and door impact beams. It creates sheet metal components for shock absorbers and struts that are used internally. On an automatic computer numeric control, or CNC, machine, it manufactures tractor steering boxes.

Independent News Pakistan-Wealthpk