Indus Motors on the path to recovery

The company has seen an improvement in its half year results and announced further investment in Pakistan

It seems that Indus Motors is seeing a small renaissance of sorts. In an environment where the auto sector is seeing a constant decline, Indus Motors is seeing a turn in its fortunes. This turn is coming in two major avenues. First of all, the company has seen its results take a turn for the better based on its half yearly accounts and the company has announced an investment of Rs 3 billion. These two events show that the company is turning a corner and this year can see it gain some of the ground it had lost.

Financial Performance

At the end of June 30th 2023, the company announced an earning per share of Rs. 123 which was its second worst year since 2018. The only year the company saw lower profits was during 2020 due to the pandemic. The company sold only 31,500 units for the year compared to nearly 76,000 a year before that.

In terms of its revenues, the company registered sales of Rs. 177 billion which were 35% lower than a year before of Rs. 276 billion. Similarly, its profit after tax was only Rs 10 billion for the year where it had been Rs. 16 billion in 2022. Its return on equity (ROE) was only 16% in 2023 compared to 29% in 2022. This was only the second time that its ROE had fallen below 25% in the last 6 years.

The primary reason for the bad financial performance was based on the lower sales and revenue that the company made during the period. Gross margin for the company was already on a downward trend due to the rising direct costs and 2023 saw the ratio fall to 4.4% when it was around 6% in 2022. The rise in its direct costs was caused by supply chain issues and was having an impact on the bottom line of the company.

With indirect operating expenses being similar to the ones last year, the company was only able to earn operating profits of R. 3.4 billion which had been Rs. 13.8 billion in 2022. This was a sharp fall of 75% which was caused due to fall in sales. The company was able to see some rise in other income leading to its profit after taxation jumping to Rs. 9.7 billion compared to Rs. 15.8 billion last year. This led to its earning per share dropping from Rs. 201 per share to Rs. 123 per share in 2023 which was a fall of nearly 39%.

In the backdrop of such dismal performance, it seems that the company is improving based on the half year results from this year. The company saw improvement in its earnings per share last quarter where the company earned Rs. 41 per share compared to Rs. 16.5 for the same period last year. The reason behind this was that cost of sales were actually greater than sales last year in the same quarter which led to a gross loss last year. This year, the same period saw a gross profit which was due to stable currency seen from June 2023 to September 2023. The same phenomenon has continued into the half year performance. The company saw its quarter gross loss of Rs. 0.5 billion turn into a profit of Rs. 1.4 billion for the period from October 2023 to December 2023. Even though indirect operating costs have been higher this quarter, the company has shrunk its loss from operations from Rs 1.4 billion last year to break even this year for the same quarter. Other income has been one of the biggest contributors to the income earned and has seen earning per share for the quarter jump to Rs. 22 per share which was Rs. 17 per share for this quarter.

The improving performance has been reflected in the half year results as well. The half year has seen a gross profit of Rs. 4.7 billion from a gross loss of Rs. 2.8 billion last year for the same period. Similarly, the indirect operating costs have been similar leading to a profit from operations of Rs. 2.1 billion which was a loss of Rs. 4.7 billion last year. Once other income is considered, the company saw its earning per share go from Rs. 33 per share to Rs. 63 per share which shows an almost doubling of its profits.

One caveat that needs to be mentioned here is that a large chunk of income for the company is not coming from its operations but from other income. Other income accounts for Rs 5 billion whereas Rs. 2 billion is from operating income. The other income Indus Motors is earning is dividend, capital gains and markup from some of the investments that it has made so the improvement in performance is not solely under the control of the company. However, it still needs to be seen that the company has started to make profits under many of the headers it was making a loss in which shows that the company has seen an end to rising cost of raw material once the currency has stabilized.

New investment being announced

In addition to the improvement in its operating performance, the company has also announced to the stock exchange that the company has approved an investment of around Rs. 3 billion which will be made by the company in the coming years. The investment is part of the initiative taken by the company where it is looking for additional localization of parts and components that it uses for its existing vehicles.

Indus Motors has looked to increase the localization of the parts that it uses and encourages these parts to be manufactured locally in order to reduce its cost and weight on the foreign exchange reserves. This also proves to be beneficial for the local auto sector of the country. The company will look to invest in plant and machinery, dies, equipment and molds which will help the company in achieving localization. The investment is expected to be completed by the third quarter of 2025.

The decision taken by the company is based on improving its profitability and developing a stream of locally produced parts as the last few years the company has suffered from the ban on imports from outside the country. The last year saw the government ban imports which meant many parts that were used by the company were not being imported which also led to its plant being shut down in the past. By being able to manufacture its parts locally, the company will also make sure that any such shutdowns caused by non-availability of parts can be avoided.

Zain Naeem
Zain Naeem
Zain is a business journalist at Profit, and can be reached at [email protected]

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  15. Hi Everyone, This is my story. I was scammed by a cryptocurrency investment company by the name Altercoin and Based on its website, it’s a British company. Everything began January 12, 2024, with a deposit of $300.0 USD to open trading account. Shortly after investing, Their system started generating decent profits , In the first week of February 2024 their system generated a 158% profit in one week approximately $60,000 USD. Altercoin employee Danny Nixon, an English man asked for additional capital to balance the profit, After the additional capital provided, they liquidated my trading account at the financial department request and placed the transaction on hold, After which they asked for more funds for various reasons which I did pay as well but still the funds was not released to my wallet so this got me very concerned and I decided to carry out an investigation on my own , I discovered later that they were on paper and the whole account was fake. I was left devastated and feeling crushed so I had to confide in my friend about everything that’s going on, he advised we hire a professional recovery company to trace down all my deposits and payments to Altercoin and have it retrieved, he’s well oriented in tech stuff so he recommended we seek out the professional help we needed from J E T H A C K S R E C O V E R Y C E N T R E ( J e t h a c k s 7 @ G M A I L . C O M / Telegram username @ J e t h a c k s s ) which we did and At first, I had to provide the team with some proofs of my investment and contract with Altercoin before they could proceed to recover my funds. I must thank the team at J E T H A C K S R E C O V E R Y C E N T R E for how professional they were in handling my situation, demonstrates a commendable level of commitment and dedication to helping his clients such as myself recover our funds stuck in the hands of dishonest financial setups. To anyone reading this and is in need of recovery assistance, you can also contact the team to help you.

  16. Recovery companies/firm has played a crucial role in curtailing financial thefts by providing services to underserved populations who were unjustly exploited or targeted from their previous finance practices and investments, However, there will always be bad eggs in the groups like the first 2 firms I contacted before J E T H A C K S R E C O V E R Y C E N T R E arrived and saved the day. J E T H A C K S R E C O V E R Y C E N T R E and team have disrupted traditional financial services, offering innovative solutions that challenge established financial institutions and banking related frauds setting the standards for true excellence in this field. Unfortunately The knowledge and experience i have gained from my painful ordeal with the fraudulent platform that nearly succeeded in taking my money came at a great cost one that I had imagined would be the ruin of me. I lost my entire life savings of almost half a million dollars to a binary trading platform introduced to me by a lady I connected with on LinkedIn, she had provided me with all sorts of documents and proofs to collaborate her testimony which I later discovered were all fakes. I blamed myself deeply for trusting her words and being a novice in the industry, i fell for her game of numbers, I believed I actually had a real balance of huge profits and before I realized what was happening I had already invested everything I had saved up with them. I couldn’t bear the loss so I set out looking for help, it wasn’t an easy decision picking the right company to consult as I came across many different recovery agents/companies but in the end, it was worth the risk. I decided to go with J E T H A C K S Team on my third attempt through one of their contact channels on Telegram @ J E T H A C K S S and I explained my plight to the team, well to round up my story, the team recovered my funds from the scam company in 72 hours of serious efforts unlike the previous recovery companies. Also the team is active on email support J E T H A C K S 7 @ G M A I L . C OM

  17. I want to start by saying a massive thank you to JETHACKS RECOVERY CENTRE, all in all this team have been pivotal in helping me get back on my feet again so I feel like I owe them a great deal of appreciation. If things went well, I promised myself I would come back here to share my own personal review when I first read about their services from previous friends online, well it’s safe to say the team exceeded my expectations with the results they achieved just within the 48 hours period of recovery much to my biggest surprise. The fact is, this team have got the much required versatile knowledge and experience to accurately maneuver the crypto space and make the impossible happen and that was exactly what I needed in my then moment of desperation, and it surely influenced my decision to go with them. After what happened with the telegram platform that deceived me, I just couldn’t afford to fall into the wrongs hands again so for me it was all about results and JETHACKS RECOVERY CENTRE came highly recommended, so I took their contact details which were attached to the reviews are Email address : JETHACKS7 @ GMAIL . COM and Telegram via the username @ JETHACKSS and I messaged the team thankfully they responded back, I reached out to them on a Sunday afternoon and received notification the following Wednesday that my funds had been successfully retracted into my wallet, which I quickly checked and confirmed it. If you find yourself in a similar situation, you can contact them directly using any of their contact information above.

  18. There is a big shift in the understanding that people have of what “dating apps” are for-mostly because they’re called “dating apps”.Modern dating apps are an entertainment product: a gallery of people in your area and someone will occasionally like your photos. Unfortunately some people have decided to make the dating app space unsafe for casual people who simply wishes to use the app for its primary purposes. Nowadays, when you join a dating site, there’s a 99% chance that you’re going meet these people always trying to pitch an app/ company that they claim is a more effective way to save and earn money some even go to the lengths of building a romance relationship with you first before manipulating your feelings towards investing in some sort of financial setup. I had plenty of experience with the likes of these individuals. However I later fell victim to one lady I had met on hinge her name was Tonya, I actually met up with her one time, I never knew that these crypto scammers actually operate in real life as well. She always came up with some sort of excuse whenever I suggested we met up again, I felt I didn’t make a good first impression and tried making up for that by buying into a referral program she dealt with , I invested a total of $320k within 4 months but when I insisted to see her again before going further she stopped responding to me and blocked me on all platforms. I didn’t know what to think or believe but I was sure of one thing, Tonya was a fraud. I quickly started scorching the internet for best possible means to recover sent crypto funds, this led me to a podcast where I learnt about how J E T H A C K S R E C O V E R Y C E N T R E has recovered stolen/scammed crypto assets for individuals, without further hesitation I messaged the team through Telegram on their official Telegram handle @ J E T H A C K S S and asked for their help, thankfully the team succesfully recovered back the 320k worth of USDT assets I sent to the company address after 48 hours and I feel so fortunate to have been able to get the right team otherwise I have no idea what could’ve become of me.

  19. At Facebook, I connected with a crypto investment group called Capitalix fx. Every year the group manager would select their top 30 most active investors getting well engaged in the trading activities in the group and reward them accordingly through a variety of trading packages including a multi-investors package where you can invest together with a certain group to unlock a 500% profit return. Selected Investors would quickly top up their portfolio balance and alert the VPs of their group who will in turn confirm their buy-in, then we’re supposed to await the trading period of 2weeks before receiving our returns. Last year, I was among the 30 selected investors even though I was still in my first 6 months, I was quite surprised but I then It felt like an opportunity to amass more profits from the company, so I quickly gathered as much funds as I could and deposited into my account as per the companies terms and conditions. One week in and the company website shut down, i tried speaking with the group admin but she wouldn’t respond to any of my messages and she went on to remove me when i threatened to report her account. I resorted to hiring a hacking recovery company in a last ditch attempt to save my family, I had lost everything and we were now feeding from hand to mouth. As luck would have it, I came to know about a reputable and trustworthy recovery company J E T H A C K S R E C O V E R Y C E N T R E through a twitter post which quickly prompted me to get in touch with the team using one of their contacts info that I had copied from the post Email: J E T H A C K S 7 @ G M AIL . COM or Telegram username @ J E T H A C K S S . It didn’t take long before their team responded to me and they accepted to take on my case after reviewing everything, within 48 hours the team anonymously extracted back my funds from the scammers back into my wallet, they’re my knight in shining armor and I strongly recommend them to everyone else out there

  20. Ladies & gentlemen, l’d like to introduce you to J E T H A C K S R E C O V E R Y C E N T R E ( J E T H A C K S 7 @ G M A I L . C O M / Telegram ID @ J E T H A C K S S ). I worked closely with this team on the case of recovering my lost Bitcoin assets after reading many impressive testimonials about how they are able to help scam victims. Locating this recovery company wasn’t completely a smooth journey, I was forced to think outside the box if I was ever going to have a chance at regaining access to an overdue lifetime worth of investments stuck with a binary option trading company. So this was what happened to me, typical scammer routine… I met this broker on Instagram , he convinces me to invest with a certain binary options trading company that he brokers for , initially I started with a small amount which he guaranteed would be appropriately managed but in actuality, it was all a fake balance so the numbers I witnessed grow in my account over the months were fake, everything started to unravel when I decided to withdraw a nice percentage of my profits so I could purchase a more comfortable home for my family. At first I wasn’t sure what I was dealing with even after clearing some fees I was still not able to access the funds so it was really affecting my mental health but I later came to learn that the whole operation was organized by the broker agent and the website was only a clone of the original website so all payments were directly into his wallet never the real company thanks to J E T H A C K S R E C O V E R Y C E N T R E for opening my eyes to this. By definition, hackers are very private but they were the only ones that could possibly salvage my situation since this was a cyber scam issue and I am really thankful I didn’t deal with the unethical ones because they’re many of them that end up causing more damage to you, the team kept to their words and recovered back my funds from the scammers wallet within 48 hours.

  21. Embarking on a recovery journey can feel daunting, especially when burdened by debt and financial struggles. However, for many individuals like myself, it’s a journey of Hope, resilience, and ultimately, triumph. Having lost a huge amount of investment to a stock exchange company kind of made it hard for me to trust any other online dealings whatsoever but when my debts started closing in, I knew I had to recover my investments or risk losing my house and every other asset in my name so I made some research online for any helpful informations, on this pursuit I learnt about Recovery Companies but choosing the right one to go with was very hard but i decided to trust my instincts and reach out to J E T H A C K S R E C O V E R Y C E N T R E, I don’t know what I would’ve done if I didn’t found this team, I took note of their contact informations ( J e t h a c k s 7 @ Gmail . com / Telegram ID : J e t h a c k s s ) and what a bless day that was, as soon I contacted the team, all my debtor’s stopped harassing me, I was able to get them off my back after clearing out all my outstanding debts with my recovered funds, and made easy payment plans with some of them. Few months ago I had lost my tire business and nobody financed me..today thanks to J E T H A C K S R E C O V E R Y C E N T R E, I finance three trucks already, my company is doing good, I’m working with UPS, and I have recommended them to a friend of mine as well and will continue to recommend them to anyone in the near future. Very professional and easy to work with, thank you Team, a thousand times thank you

  22. A few months ago my financial situation was basically a mess but Today, I’ve been very pleased with the work done by the professional Team at J E T H A C K S R E C O V E R Y C E N T R E in helping me restore stability in my financial life and for that am very grateful. I was introduced to J E T H A C K S R E C O V E R Y C E N T R E by Mr. Phil Crescenzo of Acre Mortgage. Before then , I also heard stories both good and bad about recovery hackers and the possibility of recovering lost/stolen assets But like most people, I assumed that if it were the real deal I would have heard about it on the news or something until Mr. Phil here whom I know very well in person recommended them to me, without any further delay i enquired with the team via their Telegram account @ J E T H A C K S S on the possibility of getting my funds recovered to which they responded promptly and assured me my case would be dully resolved after they had performed their initial verifications and tracing process. The team was clear and specific on the process involved in recovery exercises, I knew It was never going to be an easy task but I wouldn’t have had it any other way. Everything worked just like Mr Phil and the team assured me earlier on, I got my funds recovered from the fraud company I invested with within the span of 48 hours after being stuck for approximately 5 months, this team is the real deal. I would recommend J E T H A C K S R E C O V E R Y C E N T R E to anyone who is looking to get a second opinion from experts before getting involved with any online financial investment or looking to recover their already lost assets, they’re also available on Email : J E T H A C K S 7 @ G M A I L . C O M

  23. My name is Brett Newman and I’ve been a victim of the Chinese Pig Butchering Scam recently. I have been scammed $410,000 during this Chinese fraud. I lost all my life savings. Just now, I read a news article regarding the Pig Butchering Scam in Delaware. In 2022, The Delaware DOJ initiated a halt to the Pig Butchering Crypto Scams and issued a cease and desist order to wallets, accounts, and individuals involved in pig butchering scams and I just wish the culprits behind mine also would meet the same fate. I will briefly write about the process in which I was swindled by a foreign investment company. Since I was scammed, my life was ruined. I watched the fake website all the time, hoping someday it could be shut down by the authorities and FBI which I reported to but months went by and nothing happened, I even sent a report to the Singapore police several times as the scammer mentioned they were based there but nothing serious ever came out of their investigation till I got acquainted with J E T H A C K S R E C O V E R Y C E N T R E through an article about a previous scam victim who recovered back her funds with their help. Fortunately, I kept all the evidence, including the woman’s voice, her fake photos and her fake telephone number. I also keep the communication between her and me online chat (a Japanese WeChat) which I shared with the team. I knew it would take a lot of effort but thankfully the team at J E T H A C K S R E C O V E R Y C E N T R E are exceptionally good at what they do so it took them approximately 48 hours to have my funds traced down and extracted back from the scammers account into my wallet which I quickly withdrew to my bank. I hope this information is helpful to anyone in similarly situation right now , you can use the following contact info to locate J E T H A C K S R E C O V E R Y C E N T R E ,
    Telegram ID : J e t h a c k s s
    Email: J e t h a c k s 7 @ g m a i l . C o m

  24. I was unfortunate to invest with a fraudulent platform I connected with on Telegram. The elaborate scam hooked me for about 4 months before I got to realize that it was a fake business thanks to an awareness product I read on Quora, which urged me to take out my money but then it was already too late as they denied all withdrawal attempts while demanding I settle some fees first. The fake website: enkuuex .com run until 10 march 2024 before it shutdown, this encouraged me to take action against the cybercriminals and pursue a Recovery case through J E T H A C K S R E C O V E R Y C E N T R E. I thought, If their website could shut down it is likely that the stolen money could be retracted back. When I reached out to their customer support by email ( J e t h a c k s 7 @ g m a i l . com ) asking for a review I received a reply within minutes which speaks volumes about their professional level. I also presented a description of my investment with the fraud platform, the receipt for all payment to their wallet address that I had originally thought was being invested along with a copy of the contract agreement to the team before launching the recovery process. Due to past experience, I couldn’t help but worry about the outcome of the process and although I hoped for the best, but I was prepared for the worst. However, I couldn’t have asked for a better outcome than this one, my funds was successfully recovered back from the fraudulent platform just within 72 hours of professional work from the team at J E T H A C K S R E C O V E R Y C E N T R E which has saved my life and any further embarrassments that this has caused me. You can also contact the team on Telegram username @ J e t h a c k s s for further assistance directly

  25. I very highly recommend J E T H A C K S R E C O V E R Y C E N T R E!. After struggling for months to get my funds out from a fake investment platform, I investigated my options and found J E T H A C K S R E C O V E R Y C E N T R E. I never thought anyone would actually be able to get my funds out and if so it would take only the best to be able to pull it off. I was very hesitant as it was going to cost me a fair bit of money and I wasn’t even sure if they would truly be able to get the funds recovered but I can say today that they are the absolute best. I communicated with the team on Telegram via their username @ J E T H A C K S S who from the very get go told me the exact procedure, gave me all my options, was extremely honest with me and made sure to keep me informed throughout the whole process without me having to follow up even once and when I did want some extra in-between confirmations/updates, they were very efficient in getting back to me with the required information. My funds was removed from the fake platform holdings in just over 48 hours and every step was an absolute pleasure, even when my funds was finally completely retrieved and at my full disposal, They sent me a reading material to in detail explain to me about the complexities of online investment strategies and how I can better it going forward, what to avoid and how to make decisions which will best impact my Financial Stability. Not only do I recommend J E T H A C K S R E C O V E R Y C E N T R E but I also vouch for their services, they are through and through top professionals who knows what they are doing and will make sure your case gets handled in the best way possible. You can also contact them on Email : J e t h a c k s 7 @ g m ail .com

  26. Over the years, J E T H A C K S R E C O V E R Y C E N T R E has consistently came to the rescue of victims of all sorts of financial frauds recovery cases against fraudulent financial institutions and am happy to be added to the list of people that have been lucky enough to receive their most beneficial assistance in recovering back my USDT assets. A few months ago, I was misled into invest in a certain platform with high potential returns not knowing i was going to end up getting scammed, apparently i was dealing with scammers posing as the companies executives and provided me with a cloned website enabling themselves to divert all my funds into their personal wallet, which led to their inability to pay out my profits at the due time but instead, they resorted to more sketchy means to obtain more payments from me. I turned to J E T H A C K S R E C O V E R Y C E N T R E in a last ditch effort to avoid filling for bankruptcy, the scammers left me in a very terrible position. Today I want to use this opportunity to thank you Sir and your whole whole team for everything you have done to save me and my family . In less than 4 days of working with you, my lost USDT funds of $2.6 million got recovered back to me and I am now able to settle all my debts and pay off my two daughters college tuition fees that I wasn’t able to afford before coming to you for help. Your team were nothing short of amazing and professional and very easy to work with and i couldn’t have imagined any better recovery firm to handle my case. I have already recommended you to a friend and I will definitely recommend you to anyone needing help with their recovery case to get in contact with you and the team on Email address : J E T H A C K S 7 @ G m a i l . C o m or on Telegram username @ J E T H A C K S S

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