Economy at a Glance Auto Sector Performance Product Line up Financial Highlights Challenges and Opportunities Q&A

Contents

Economy at a Glance

2.08%

3.88% 3.75%

6.04%

11.50%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

2015 2016 2017 2018 2019

Inflation

4.06%4.56%

5.22% 5.53%

3.29%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

2015 2016 2017 2018 2019

GDP

6.00%5.75%6.00%

10.00%

13.25%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

2015 2016 2017 2018 2019

Discount Rate

153 159 170 181

200

-

50

100

150

200

250

2015 2016 2017 2018 2019

Per Capita Income (Rs ‘000’)

104.8 104.55110.41

138.9

155.75

020406080

100120140160180

2015 2016 2017 2018 2019

PKR/USD

Auto Sector Performance

Segment-Wise Analysis *Source: PAMA

5%

18%

28%

32%

17%

0% 10% 20% 30% 40%

OTHERS

MASTER

HINO

ISUZU

GNL*

2019

5%

16%

37%

31%

11%

0% 10% 20% 30% 40%

OTHERS

MASTER

HINO

ISUZU

GNL*

2018

14%

39%

34%

13%

0% 10% 20% 30% 40% 50%

MASTER

HINO

ISUZU

GNL*

2016

9%

16%

32%

32%

11%

0% 10% 20% 30% 40%

OTHERS

MASTER

HINO

ISUZU

GNL*

2017

*Consolidated

TIV 6,736 UnitsTIV 7,700 Units

TIV 10,575 UnitsTIV 7,182 Units

Product Line up

CKD

CKD

CKD/CBU

CBU

Dealership Network

Sargodha

Current Dealerships 10

Upcoming Dealerships 4

Financial Highlights

Jun-19 Jun-18 Jun-17 Jun-16 Jun-15(PKR in Million)

Sales 2,374 2,219 4,858 5,005 5,445

Gross Profit 320 433 931 1,092 1,131

Profit/(Loss) Before Tax 5 1,252 741 833 787

Profit/(Loss) After Tax (29) 1,038 410 546 509

13.50%

19.50%19.20%

21.80%20.80%

0.23%

56.44%

15.24% 16.63% 14.46%

-1.20%

46.80%

8.40% 10.90% 9.30%

-10.00%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

Jun-19 Jun-18 Jun-17 Jun-16 Jun-15

GP PBT PAT

Standalone

Jun-19 Jun-18 Jun-17 Jun-16 Jun-15(PKR in Million)

Sales 5,964 4,897 6,569 5,761 5,596Gross Profit 777 779 1,212 1,196 1,148

Profit Before Tax 225 1,631 1,117 1,045 821

Profit After Tax 143 1,348 719 735 538

13.10%15.90%

18.50% 20.80%20.50%

3.79%

33.32%

17.00% 18.13% 18.13%

2.40%

27.50%

10.90% 12.80% 12.80%

Jun-19 Jun-18 Jun-17 Jun-16 Jun-150.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

GP PBT PAT

Consolidated

2322

2618

2792

4667

6083

0 2000 4000 6000 8000

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Net Wealth (PKR in Million)

11.31

12.14

9.10

23.02

-0.51

-5.00 0.00 5.00 10.00 15.00 20.00 25.00

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

EPS

1.97

1.30

1.60

3.20

3.77

0.00 1.00 2.00 3.00 4.00

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Current Ratio

51.61

58.19

62.04

103.72

106.73

0.00 20.00 40.00 60.00 80.00 100.00 120.00

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Break up Value

Challenges & Opportunities

• New Infrastructure development projects by Govt• Kamyab Jawan Scheme• Introduction of Axle Load regulation for Cargo Segment• New Models of JAC• Local assembly of Renault Trucks• Company owned State of the Art 3S facility• Initiation of TIR transportation

• Relaxation in implementation of Axle Load Regulation• OGRA - Euro II Standard• Drive for Documentation of Economy • Competition from New Entrants• Increase in cost of Auto-financing• Economic Slowdown• Goods transportation through Railways

Challenges

Opportunities