Millat Tractors Limited

Business Recorder reported that Millat Tractors Limited (PSX: MTL) lifted its net sales by 22.35 percent year-on-year to Rs63,755.24 million in 2026. Net profit rose 23 percent to Rs7840.789 million, equal to EPS of Rs19.65 and a net profit margin of 12.30 percent. Gross profit climbed 46.85 percent, pushing the gross margin up to 31.94 percent.

Volumes fell because farmers had less buying power, owing to delayed subsidy schemes, limited access to affordable finance and higher fertilizer, fuel and seed prices. Sales value still rose as each tractor sold for more, reflecting costlier steel, engines and imported components. Finance cost dropped 32.85 percent on monetary easing, yet a growing sales tax refund still left the company leaning on external borrowing.

The report calls the start of a green tractor scheme for medium horsepower models, seasonal wheat harvest demand and flood rehabilitation drives positive signs for the industry. The company also plans to focus more on exports to offset thin domestic demand. It has recently signed a distribution agreement with Lovol Intelligent Agricultural Technology Co., described as China's largest agricultural machinery maker, to bring high-technology equipment to Pakistan.