Equity Analysis /
Pakistan

Indus Motors: 1QFY22 Analyst Briefing Takeaways

  • INDU’s sales rose c.60% yoy amid sharp rise in both CKD and CBU units following the incentives announced in FY22 Budget

  • According to the management, car prices are likely to be increased in two phases, within the next few days

  • We flag INDU as our top pick in the sector, with a Buy rating (TP of PKR1,500/sh)

Abdul Ghani Mianoor
Intermarket Securities
9 November 2021