Ghandhara Automobiles Limited (GAL) reported results for the first quarter of FY26 (Financial Year 2026), showing a big jump in earnings from a year ago, helped by strong vehicle sales.
Profit after tax stood at Rs. 1.67 billion, translating to earnings per share of Rs. 29.33. This is about 180% higher than the same period last year, although it decreased by 8% from the previous quarter. Net revenue reached Rs. 13.52 billion, a 253% increase year-on-year but 30% lower quarter-on-quarter as volumes cooled from a very strong 4QFY25 (Fourth Quarter of Fiscal Year 2025).
The top line was driven by strong demand for the JAC lineup, with the JAC T9 Hunter being the standout, selling around 1,600 units in the quarter.
JAC J200 sales increased by 7% year-on-year to 261 units, while JAC truck sales surged fivefold to 129 units. Gross profit rose to Rs. 2.39 billion, a 335% increase compared to last year, although the gross margin was slightly lower at 17.7% versus 18.6% last year; on a sequential basis, the margin remained broadly stable due to a steady rupee against the Chinese yuan.
GAL also benefited from its associates (shareholding company), recording Rs. 296 million in share of profit, more than triple last year, mainly from Ghandhara Industries Limited, where GAL holds a 17% stake, supported by stronger sales of ISUZU trucks and buses.
Overall, Ghandhara Automobiles (GAL) reported a strong first quarter of FY26: profit is approximately 180% higher than the same period last year (2.8×), demonstrating solid execution and healthy demand.
The JAC T9 Hunter is also performing well in the market, highlighting strong demand and execution. It’s a positive, confidence-building start to the year for GAL.
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