Ghandhara Industries Limited

Business Recorder reported that Ghandhara Industries Limited (GHNI), an Isuzu vehicle assembler, lifted its topline by 95.71 percent to Rs42,830.22 million in the first nine months of the ongoing fiscal year, called 9MFY26. Sales volume rose 57 percent over the period, helped by a stronger commercial vehicle market, and the gross margin remained at 24 percent. Net profit increased 79.55 percent to Rs5265.50 million, which worked out to earnings per share of Rs123.58 and a net margin of 12.30 percent.

Operating expenses climbed 47.64 percent on higher sales and production volumes, while extra provisions for WWF and WPPF pushed other expenses up 64.29 percent. Other income grew 106.96 percent on stronger commission income, gains from short-term investments and disposal of fixed assets, which fully absorbed the other expense increase. Operating profit rose 113.21 percent, lifting the OP margin to 19.90 percent, and finance cost edged up 1.43 percent, largely due to bank charges because the company carries no gearing.

Ghandhara has entered a strategic partnership with Zhongtong Bus Holding Company Limited, which will bring luxury buses to Pakistan. The company plans a new production line for these buses before the end of FY26, a step that would diversify its sales mix and open its entry into the EV and NEV markets. Business Recorder added that the tie-up could also support exports if Ghandhara becomes Zhongtong's regional assembly hub.