As Haval sales soar, Sazgar posts record profits

For a company that began life making three-wheelers, Sazgar Engineering Works is now producing numbers that would make Pakistan’s older car assemblers uneasy. In the third quarter of fiscal year 2026, the Lahore-based automaker reported the highest quarterly profit in its history: profit after tax of Rs6.4 billion, or Rs106.5 per share. For the nine months ended March 31, 2026, earnings rose 16% year on year to Rs14.9 billion, equivalent to Rs246.2 per share. The company also declared a quarterly cash dividend of Rs20 per share, taking its nine-month payout to Rs50 per share.

The result confirms what had already become apparent on Pakistan’s roads: Sazgar is no longer merely an interesting new entrant in the car market. It is one of the country’s most successful automobile growth stories. Net revenue in the March quarter rose 29% year on year to Rs47.4 billion. For the nine-month period, revenue climbed 41% to Rs115.2 billion, exceeding the Rs108.7 billion turnover Sazgar reported for the entire fiscal year 2025. In other words, before the final quarter of the year had even begun, Sazgar had already surpassed last year’s full-year topline. The company’s own FY25 corporate briefing had shown how dramatic the recent acceleration had been: turnover rose from Rs57.6 billion in 2024 to Rs108.7 billion in 2025, while net profit after tax more than doubled from Rs7.9 billion to Rs16.3 billion.

The engine of that growth is Haval. Arif Habib Limited’s result review notes that Sazgar’s quarterly revenue increase was “primarily driven” by a sharp rise in Haval volumes to 5,420 units, up 47% year on year. That is a remarkable number in a Pakistani auto market that, only a few years ago, was still dominated overwhelmingly by Japanese brands and their local partners.