Al‑Ghazi Tractors Ltd (PSX: AGTL) has reported robust full‑year results for calendar 2024 but a much softer start to 2025, and management says the numbers mask a strategic pivot towards higher‑horse‑power (HP) machinery that is already reshaping Pakistan’s farm‑equipment landscape.
For calendar year 2024 the company posted earnings per share of Rs61.11, up 36% from Rs45.06 in the previous year, as gross margin widened to 24% on a broadly flat revenue base of Rs34.6 billion. The out‑performance came despite a dramatic slump in the first quarter of 2025, when net sales plunged 62% year‑on‑year to Rs3.6 billion and EPS collapsed to just Rs1.01, a 93% drop.
Yet behind the headline volatility is a notable shift in what farmers — and increasingly contractors, builders and logistics operators — are buying. Al‑Ghazi’s newly launched 85 HP NH‑850 and a hydraulically advanced “lift‑o‑matic” range have enjoyed strong take‑up, signalling rising appetite for larger tractors and precision‑ready implements. Live demonstrations held late last year drew sizeable orders from corporate farms and rental fleets, the company said in a post‑results briefing. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
