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 profitability of Rs14.7bn in 2QFY26, compared to Rs10.9bn in 2QFY25, reflecting a 35% YoY increase, primarily driven by higher passenger car sales.</li><li>On a QoQ basis, profitability is also projected to rise 19% supported by better economic activity, introduction of new variants, and lower interest rates, despite the typical December effect.</li><li>Net sales are anticipated to increase 63% YoY and 26% QoQ to Rs161.5bn in 2QFY26, mainly due to higher volumes and a relatively stable Pak Rupee.</li></ul>

Topline Auto Universe is expected to post profitability of Rs14.7bn in 2QFY26, compared to Rs10.9bn in 2QFY25, reflecting a 35% YoY increase, primarily driven by higher passenger car sales.On a QoQ basis, profitability is also projected to rise 19% supported by better economic activity, introduction of new variants, and lower interest rates, despite the typical December effect.Net sales are anticipated to increase 63% YoY and 26% QoQ to Rs161.5bn in 2QFY26, mainly due to higher volumes and a relatively stable Pak Rupee.

Sazgar Engineering Works Limited (SAZEW PK)

Pakistan Autos: Topline Auto Universe Profitability to Record 35% YoY and 19% QoQ Growth; Volumes Up 45% YoY and 36% QoQ