ATLH - Atlas Honda Limited

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xResearch

Active member
Apr 9, 2017
1,926
1
38
#2
Atlas Honda Limited
April 28th, 2017

FINANCIAL RESULT FOR THE NINE MONTHS ENDED 31/03/2017
PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 5,092.742
PROFIT/LOSS AFTER TAXATION RS. IN MILLION 3,752.479
EPS = 36.29
DIVIDEND = 185%
BOOK CLOSURE FROM 06/06/2017
BOOK CLOSURE TO 19/06/2017
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#3
April 2017 - Civic & City

Production: 3992 Cars
Sales: 3519 Cars

10MFY17 / 10MFY16 - Civic & City


Production: 31564 Cars / 20568 Cars
Sales: 31639 Cars / 21293 Cars
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#4
Atlas Honda Limited
(ATLH)

July 31st, 2017

FINANCIAL RESULT FOR THE FIRST QUARTER ENDED 30/06/2017
PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 1,481.672
PROFIT/LOSS AFTER TAXATION RS. IN MILLION 1,100.171
EPS = 10.64
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#5
Atlas Honda Limited
(ATLH)

January 31st, 2018
02:54:56 PM

FINANCIAL RESULT FOR THE NINE MONTHS ENDED 31/12/2017


PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 4,638.695
PROFIT/LOSS AFTER TAXATION RS. IN MILLION 3,412.349
EPS = 33.00
 
Apr 11, 2017
815
1
18
#6
Honda Atlas Cars Limited (HCAR): MY18 EPS expected at PKR46.11, up 7%YoY; DPS at PKR 18.50

11 April 2018
Taurus Securities Limited



  • Honda Atlas Cars Limited (HCAR) is scheduled to announce its MY18 financial results on April 12, 2018, wherein the automobile assembler is expected to post a PAT of PKR 6.6bn (EPS: PKR 46.11), up by 7%YoY. Alongside, we expect it to announce a cash payout of PKR 14.32/share, taking total cash payout for the year to PKR 18.50/share.
  • Sales revenue in MY18 is expected to grow by 46%YoY on the back of i) a 15k increase in off-takes (up 42%YoY), thanks to the introduction of BR-V, and ii) an increase in average selling prices.
  • Gross margin in MY18 is expected to fall by 3.22pps YoY on the back of i) ~30%YoY increase in steel prices, and ii) ~9% PKR depreciation against THB.
  • In 4QMY18, HCAR's bottom-line is expected to stay largely stagnant (rising by 3%QoQ) despite an expected 20% rise in sales revenue, to PKR 10.25/share vs. PKR 9.92/share in 3QMY18 mainly on account of i) higher steel costs, and ii) PKR depreciation.
 
Apr 11, 2017
815
1
18
#7
Atlas Honda Limited (ATLH): ATLH posted an EPS of PkR45.1 for MY18


30 April 2018
Shajar Capital Pakistan (Private) Limited




  • ATLH announced its MY18 results on April 30, 2018. The company posted a Profit after Tax of PkR4.66bn (EPS:pkR45.1) during the year, á20.18%YoY from the PkR3.75bn (EPS: PkR36.29/sh) reported for the earlier year.For the final quarter, the company reported Profit after Tax of PkR1.25bn (EPS: PkR12.1/sh), compared to the PkR1.17bn reported in the earlier quarter and the PkR1.04bn (EPS: PkR10.07/sh) reported in the 4QMY17 (á7%QoQ; á20%YoY)
  • For the year, the company posted revenues of PkR77.48bn, á18.94%YoY from the PkR64.53bn reported in the SPLY. During the period, the company sold around 1,087,105 units, compared to 920,662 units in the earlier year, representing an increase of 18.1%. In 4QMY18, revenues came in at PkR21bn, compared to the PkR19.59bn reported in the earlier quarter (á7%QoQ) and the PkR17.63bn (á19%YoY) reported in the SPLY.
  • During MY18, ATLH’s Gross Margins came in at 10.7%, 20bps higher than the 10.5% reported in the SPLY. For the quarter, the company reported Gross Margins of 10.1%, compared to 10.7% in 3QMY17 (â0.7bps QoQ) and the 10.5% in 4QMY18 (â40bps YoY).
 
Apr 11, 2017
815
1
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#8
Honda Atlas Cars Limited (HCAR): MY18 earnings meet expectations


15 May 2018
Pearl Securities Limited




  • Honda Atlas Cars announced its MY18 earnings at PKR6,494mn (EPS PKR45.48) as against PKR6,135mn in MY17, an increase of 6%YoY. The earnings came in-line with our expectations of PKR46.7/share
  • Along with the result, the company also announced a final cash dividend of PKR22.75/sh taking the total cumulative dividend for the year at PKR26.93/sh - higher than expectations of PKR18.68/share.
  • Top-line improved by a significant 46%YoY to PKR91,523mn during MY18 as compared to PKR62,803mn of MY17.
  • The increase in top-line is attributed to higher volumetric sales (+up 42%YoY) & better car prices during the year.
 
Apr 11, 2017
815
1
18
#9
Honda Atlas Cars Limited (HCAR): MY18 EPS at PKR 45.48, up 6%YoY; DPS at PKR 22.75


15 May 2018
Taurus Securities Limited




  • Honda Atlas Cars Limited (HCAR) announced its MY18 financial results today, wherein the automobile assembler posted a PAT of PKR 6.5bn (EPS: PKR 45.48), up by 6%YoY. Alongside, it also announced a cash payout of PKR 18.57/share, taking total cash payout for the year to PKR 22.75/share.
  • Sales revenue in MY18 grew by 46%YoY on the back of i) a 14.8k increase in off-takes (up 42%YoY), thanks to the introduction of BR-V, and ii) an increase in average selling prices.
  • Gross margin in MY18 fell by 3.11pps YoY on the back of i) ~30%YoY increase in steel prices, and ii) ~9% PKR depreciation against THB.
  • In 4QMY18, HCAR's bottom-line dropped by 3%QoQ despite an 18%QoQ rise in sales revenue, to PKR 9.62/share vs. PKR 9.92/share in 3QMY18 mainly on account of i) higher steel costs, and ii) PKR depreciation.
 
Apr 11, 2017
815
1
18
#10
Honda Atlas Cars Limited (HCAR): EPS for MY18 clocked in at PkR45.5


15 May 2018
First Capital Equities Limited




  • Honda Atlas Cars (Pak) Ltd (HCAR) announced its financial results for MY18 where company posted earnings at PkR6.49bn (EPS clocked in at PkR45.5, up 5.9%YoY). Earnings for 4QMY18 stood at PkR1.37bn (EPS: PkR9.7), down 35%/2% YoY/QoQ.
  • The decline in quarterly earnings for 4QMY18 is primarily attributable to increase in steel prices, PkR depreciation vis-à-vis USD (4.7% CYTD) and delayed price pass on. Consequently, gross margins declined by 3.1ppt/0.9ppt YoY/QoQ,
  • Distribution costs clocked in at PkR418mn, up by 99%/1.66x YoY/QoQ. Administration expenses stood at 231mn, up by 67%/53% YoY/QoQ.
 
Apr 11, 2017
815
1
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#11
Honda Atlas Cars Limited (HCAR): MY2018 EPS clocked in at PKR45.5 – Below expectations


15 May 2018
Insight Securities (Private) Limited




  • Honda Atlas Cars (Pakistan) Ltd. (HCAR PA) has announced its full year MY2018 results where the company has posted net profit after tax of PKR6.5b (PKR45.5/share), up 6%YoY. The earnings are below our expectations mainly due to higher than expected distribution and admin expenses. The company has also announced final dividend of PKR22.75/share.
  • During MY2018, net sales of the company increased by 46% to PKR91.5b, led by 42% increase in volumes (addition of BR-V). However, the same did not reflect into bottom-line due to 3.1pps fall in gross margins owing to higher raw material costs and PKR devaluation.
  • During 4Q, results reflect similar picture, where revenue increased by 22%, however 3.8pps YoY fall in gross margins and significantly higher distribution and admin expenses dragged bottom-line by 35%YoY
 
Apr 11, 2017
815
1
18
#12
Honda Atlas Cars Limited (HCAR): 4QMY18 EPS Rs9.6 -35%YoY (-3%QoQ); DPS Rs22.75/share (In-line with Expectations) – by Topline Research

15 May 2018
Topline Securities (Private) Limited




  • HCAR declared earnings of Rs9.6/share in 4QMY18, down 35% YoY primarily on account of margin compression
  • Net sales of the company improved by 22% primarily led by growth in sales volume of the company. Contrarily, gross profits of the company were down 12% YoY to Rs2.4bn as margins dropped from 13% in 4QMY17 to 9.6% in 4QMY18.
  • The company has not completely passed on the impact of currency devaluation, we believe. HCAR has raised car prices twice since Jan 2018.
 

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