External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Sazgar Engineering Works Limited / Equity Bottom-Up

Sazgar Engineering Works Limited (SAZEW PK)

<ul><li>We expect Sazgar Engineering (SAZEW) to post earnings of Rs74.99/share during 4QFY25, up 30% YoY while down 27% QoQ. This will take FY25 earnings to Rs287.6, up 119% YoY.</li><li>During 4Q, the company is expected to witness a 23% YoY increase in sales led by a 28% YoY increase in four wheelers sales.</li><li>Earnings forecast for SAZEW for FY27-29F has been revised up by an average of 14% due to the expected launch of PHEV vehicles before Mar 2026.</li></ul>

We expect Sazgar Engineering (SAZEW) to post earnings of Rs74.99/share during 4QFY25, up 30% YoY while down 27% QoQ. This will take FY25 earnings to Rs287.6, up 119% YoY.During 4Q, the company is expected to witness a 23% YoY increase in sales led by a 28% YoY increase in four wheelers sales.Earnings forecast for SAZEW for FY27-29F has been revised up by an average of 14% due to the expected launch of PHEV vehicles before Mar 2026.

Sazgar Engineering (SAZEW): 4QFY25 EPS Likely at Rs75/Share, up 30% YoY