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>Sazgar Engineering Works (SAZEW) announced its 4QFY26 result, wherein the company recorded profit of Rs8.7bn (EPS of Rs144.33), up 2.5x YoY and 36% QoQ.</li><li>The result came in higher than industry expectations due to higher-than-expected net sales.</li><li>We maintain our BUY call on SAZEW.</li></ul>

Sazgar Engineering Works (SAZEW) announced its 4QFY26 result, wherein the company recorded profit of Rs8.7bn (EPS of Rs144.33), up 2.5x YoY and 36% QoQ.The result came in higher than industry expectations due to higher-than-expected net sales.We maintain our BUY call on SAZEW.

Sazgar Engineering (SAZEW): 4QFY26 EPS at Rs144.33, Up 2.5x YoY and 36% QoQ – Higher Than Expectations