External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Automobiles and components / Thematic (Sector/Industry)

<ul><li>Topline Auto Universe is expected to post earnings of Rs12.6bn in 1QFY27, compared to Rs12.5bn in 1QFY26, reflecting 1% YoY growth.</li><li>On a sequential basis, earnings are expected to witness a 35% decline, primarily due to a lower sales volumes.</li><li>Net sales are projected to increase 39% YoY but decline 10% QoQ to Rs179bn in 1QFY26.</li></ul>

Topline Auto Universe is expected to post earnings of Rs12.6bn in 1QFY27, compared to Rs12.5bn in 1QFY26, reflecting 1% YoY growth.On a sequential basis, earnings are expected to witness a 35% decline, primarily due to a lower sales volumes.Net sales are projected to increase 39% YoY but decline 10% QoQ to Rs179bn in 1QFY26.

Sazgar Engineering Works Limited (SAZEW PK)

Pakistan Automobiles: Auto Sector Profitability Expected to Decline 35% QoQ; Driven by a 16% Drop in Volumes