Equity Analysis /

Indus Motors: 2QFY22 Analyst briefing takeaways

  • INDU’s sales rose c.60% yoy in 2Q on the back of healthy uptick in demand following price reductions in FY22 Budget

  • According to the management, car prices are likely to increase further amid escalating costs and PKR depreciation

  • We flag INDU as our top pick in the sector, with a Buy rating (TP of PKR1,475/sh)

Abdul Ghani Mianoor
Intermarket Securities
17 March 2022


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