By Sazgar Engineering Works Limited, a leading player in the automotive sector, has posted impressive growth in both production and sales for October 2024. The company’s performance in its three-wheeler and four-wheeler segments reflects strong demand and an upward trajectory for the business.
Three-Wheeler Segment: A 102% Increase in Production and Sales
Sazgar’s three-wheeler segment saw remarkable growth, with production soaring to 2,520 units in October 2024, up from just 1,189 units in the same month last year. Similarly, sales climbed significantly, reaching 2,401 units compared to 1,004 units sold in October 2023. This 102% year-over-year increase indicates strong consumer demand and a robust market position for Sazgar’s three-wheeler offerings.
Four-Wheeler Segment: Surge in Production and Sales
In the four-wheeler category, Sazgar also achieved significant growth. The company produced 1,008 units and sold 1,002 units of models like the Haval H6 and Jolion in October 2024. This is a dramatic increase from October 2023, when only 244 units were produced and 253 units were sold. The substantial rise in production and sales underscores Sazgar’s expanding presence in the four-wheeler market, particularly in the SUV sector.
Record Earnings and Year-Over-Year Growth
Sazgar’s strong production and sales figures follow an impressive financial performance for the first quarter of FY25, which saw a 541% year-over-year increase in earnings. Profits for the quarter rose by 21% compared to the previous quarter, reflecting continued operational efficiency and demand growth.
For the first quarter of FY25, Sazgar sold 2,605 four-wheelers, marking a 3.5% year-over-year increase, and 5,435 three-wheelers, up a remarkable 89% compared to the same period in FY24. This resulted in a 3.3% increase in net sales to Rs. 26.3 billion.
Dividend Announcement and Outlook
In addition to the strong earnings, Sazgar declared a dividend of Rs. 10 per share for the first quarter of FY25, rewarding its shareholders for their continued support. The company’s ongoing expansion, coupled with solid demand across both vehicle categories, positions it well for sustained growth.
A Promising Future for Sazgar
Sazgar’s October 2024 production and sales results reflect a dynamic growth trajectory. With continued demand for both three-wheelers and four-wheelers, particularly in the Haval H6 and Jolion models, Sazgar is poised to maintain its upward momentum throughout the remainder of FY25 and beyond.
