I've come across another interesting piece of information on this document: http://www.toyota-indus.com/wp-content/uploads/2012/08/Security-Analyst-Annual-June-30-2013.pdf. Below is a table on page 4 giving out very interesting information about how bad things are for Toyota Indus.
[TABLE]
<tbody>[TR]
[TD][/TD]
[TD]Year ended June 30
2013***** 2012[/TD]
[TD]% change 2013 vs. 2012[/TD]
[/TR]
[TR]
[TD]Profit After Tax Rs in billion [/TD]
[TD]3.4 ****4.3 [/TD]
[TD] -20.9%[/TD]
[/TR]
[TR]
[TD]Vehicle Sales Units [/TD]
[TD]38,517 ***55,060 [/TD]
[TD] -30.1%[/TD]
[/TR]
[TR]
[TD]Vehicle Production Units [/TD]
[TD]37,405 ***54,917 [/TD]
[TD] -31.9%[/TD]
[/TR]
[TR]
[TD]Net Revenues Rs in billion[/TD]
[TD] 63.8*******77.0 [/TD]
[TD] -17.1%[/TD]
[/TR]
[TR]
[TD]Earnings Per Share Rs [/TD]
[TD]42.7******54.7 [/TD]
[TD] -21.9%[/TD]
[/TR]
[TR]
[TD]Annual Cash Dividend
Per Share Rs [/TD]
[TD]25.0******32.0 [/TD]
[TD] -21.9%[/TD]
[/TR]
[TR]
[TD]Shareholders' Equity
Rs in billion [/TD]
[TD]17.7*******17.0 [/TD]
[TD] 4.1%[/TD]
[/TR]
[TR]
[TD]Contribution to National
Exchequer
Rs in billion [/TD]
[TD]21.3*******24.7 [/TD]
[TD] -13.8%[/TD]
[/TR]
[TR]
[TD]INDUS MOTOR COMPANY
Manpower [/TD]
[TD]2,225******2,292 [/TD]
[TD] -2.9%[/TD]
[/TR]
</tbody>[/TABLE]
If you analyse the data you will gather that everything has gone down for Toyota Indus from fiscal year 2012 to 2013. Profit, number of vehicles sold, net revenue, earning per share, every figure has gone down. Every figure but one is in the negative in the extreme right column.
My point is that maybe the new corolla will help Toyota Indus. It needs new models to fix its balance sheet which is showing everything in the negative.
Import age has been reduced from 5 to 3 years and it was done in December 2012. Even that move has not helped Toyota. People are not buying their cars. I need a new car very badly and I'm waiting for the new model. I'm also waiting for December 2013 when the import policy will be reviewed. Maybe the government will ban all imports, reduce the age limit to 2 years, ban the imports of hybrids. All these moves will help local manufacturers. Let's see what happens in December of this year. Maybe APMDA (All Pakistan Motor Dealears' Association) will succeed in their fight to increase the age limit of imported vehicles to 5 years. Then people will think about importing good JDM cars. It will hit Toyota Indus even more.
I think Toyota Indus needs to put its house in order. Things are very bad for her.
Regards.