Indus Motor Company Ltd

Finance Presentation

Half Year Ended

Dec 31, 2019

29th Feb, 2020

HIGHLIGHTS FOR HALF YEAR ENDED DEC, 2019

• The Net Sales revenue declined to Rs 42.78 billion as compared to Rs 76.45 billion,
mainly attributable to lower volumes and change in sales mix;
• Profit after tax decreased from Rs. 6.9 billion to Rs. 2.3 billion mainly due to decline
in volume, increase in cost of inputs on account of rupee devaluation and increase in
duties and taxes etc;
• The Board of directors has declared interim cash dividend of Rs. 6 per share;
• During the period, IMC won the following major events;
- Pakistan Stock Exchange (PSX) awarded IMC, Top 25 Performing Companies
Awards for 2018 for its dedication and excellent performance,
IMC PERFORMANCE FOR HALF YEAR ENDED
DEC 31, 2019

Half Year ended Dec 31 % change

Operating Highlights
2019 2018 2019 vs. 2018
Vehicle Sales Units 14,453 33,087 -56%
Vehicle Production Units 14,555 32,984 -56%

Net Revenue Rs in million 42,775 76,447 -44%

Gross Profit Rs in million 3,767 10,057 -63%
Profit Before Tax Rs in million 3,195 10,039 -68%
Profit After Tax Rs in million 2,304 6,912 -67%

Earnings Per Share Rs 29.32 87.94 -67%

Manpower Strength Numbers 3,069 3,349 -8%
As at
At the end of Period
31-Dec-19 30-Jun-19
Total Assets Rs in million 58,292 64,783 -10%
Shareholders' Equity Rs in million 39,638 40,045 -1%
As at
Share Performance
19-Feb-20 19-Feb-19
Price per Share Rs 1,020 1,288
-21%
Market Capitalization Rs in million 80,172 101,237
 110
120
140
150
160

130
170
2-Jul-19

12-Jul-19

159.00
22-Jul-19

121.56
158.00
1-Aug-19

11-Aug-19
USD/PKR PARITY

21-Aug-19

31-Aug-19

10-Sep-19

20-Sep-19

30-Sep-19
Inter Bank

10-Oct-19

20-Oct-19

30-Oct-19
PKR Appreciated by 1.9% in Jul-19 to Dec-19

9-Nov-19

19-Nov-19

29-Nov-19
Open Market

9-Dec-19

19-Dec-19
155.07
155.30

138.75

29-Dec-19

8-Jan-20

18-Jan-20

28-Jan-20

7-Feb-20
Last Year 2018-19

17-Feb-20

27-Feb-20
139.25
154.36
154.43
 104.00
106.00
110.00
112.00
114.00

108.00
1-Jul-19

11-Jul-19

108.28
21-Jul-19

110.68
31-Jul-19

10-Aug-19
USD/JPY PARITY

20-Aug-19

30-Aug-19

9-Sep-19

19-Sep-19

29-Sep-19

9-Oct-19

19-Oct-19
Inter Bank

29-Oct-19

8-Nov-19

18-Nov-19

28-Nov-19

8-Dec-19

18-Dec-19
111.01

108.86

28-Dec-19

7-Jan-20

17-Jan-20
Last Year 2018-19

27-Jan-20

6-Feb-20

16-Feb-20

26-Feb-20
110.55

109.68
 1.000
1.100
1.300
1.400
1.500
1.600

1.200
02-Jul-19

12-Jul-19

1.0960
22-Jul-19

01-Aug-19 1.4710
11-Aug-19
JPY/PKR PARITY

21-Aug-19

31-Aug-19

10-Sep-19

20-Sep-19

30-Sep-19

10-Oct-19
Interbank

20-Oct-19

30-Oct-19

09-Nov-19

19-Nov-19

29-Nov-19

09-Dec-19

19-Dec-19
1.2581

29-Dec-19
Last Year 2018-19

1.4224

08-Jan-20

18-Jan-20

28-Jan-20

07-Feb-20

17-Feb-20
1.2494
1.3833
BUSINESS OUTLOOK & KEY CHALLENGES

1. The future performance may continue to remain challenging in the existing economic
conditions;
2. The imposition of FED, Additional Custom Duty @ 7% and Value Added Tax @ 3% needs to
be revisited by the Government in order to attain sustainable volumes, which will not only
support the auto sector, but will also result in overall higher revenue for the Government;
3. In line with global trends, the Government is adopting an electrification strategy for
Pakistan’s automobile sector. Through SRO 644(I)/2018 the CBU import duty for Electric
Vehicle (EVs) was reduced from 50% to 25% and a proposal to promote CKD operations for
EVs is under discussion between the Ministry of Industries and relevant stakeholders;
4. Despite the macroeconomic challenges and higher inflationary environment, the company
is remaining focused on improving its operational efficiencies and managing cost
pressures.
THANK YOU