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One in every three cars sold by domestic auto manufacturers is a Toyota Corolla. The newest model of the flagship variant of the Indus Motor Company (KSE: INDU) has become such a darling for car buyers that its sales in 9MFY15 shot up over 36,000 units. Thats a 57 percent year-on-year jump in number of Corollas sold.
And thats not the only variant selling like hot parathas! A visit to the companys manufacturing facilities revealed dozens of Fortuners flying off the assembly line, to eager buyers. Little wonder then that the companys top line towered over Rs68 billion in 9MFY15, clocking in 52 percent growth over the 9MFY14 tally.
The company has also continued to enjoy the benefits of lower input costs, as is evident from the stymied rise in cost of production. Resultantly, gross margins jumped from nine percent in 9MFY14 to 14 percent in 9MFY15.
And if you want a peek at the expected demand for the companys vehicles in coming months, just take a look at the other income. Thanks to advanced bookings by buyers, other income (earned mainly on cash balances available with the company) rocketed by 186 percent, year-on-year to reach Rs2.15 billion.
With so much going for it, INDUs net margin has beefed up to nine percent in 9MFY15, compared to five percent in 9MFY14. The shareholders that have stayed for the party also got some handsome goody bags at the INDU party. The firm announced interim dividend of Rs20 per share along with the third quarter results.


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Indus Motor Company
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Rs (mn) 3QFY15 chg 9MFY15 chg
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Sales 29076 55% 68174 52%
Cost of goods sold 24124 41% 58576 44%
Gross profit 4952 202% 9598 140%
Gross margin 17% 14% -
Distribution & marketing cost 274 1% 929 43%
Administrative expenses 227 47% 581 28%
Other operating expenses 386 259% 747 178%
Other operating income 821 178% 2147 186%
Finance cost 20 100% 41 112%
PAT 3279 239% 6422 177%
Net margin 11% 9%
EPS (Rs) 41.72 81.7
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Source: KSE notice

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