Ghandhara Automobiles Limited
By PSX Investors Zone · Updated October 23, 2026
Ghandhara Automobiles Limited (PSX: GAL), formerly known as Ghandhara Nissan Limited, is a Pakistani automobile assembler incorporated in 1981. The company is a subsidiary of Bibojee Services (Private) Limited and operates in vehicle assembly, progressive manufacturing, spare-parts sales, and the import and sale of selected vehicles. Its activities include JAC trucks and pick-ups, along with imported Nissan, Dongfeng and Renault vehicles. For the financial year ended June 30, 2026, GAL reported standalone revenue of approximately Rs 28.834 billion, profit after tax of Rs 3.465 billion, and EPS of Rs 60.79. On a consolidated basis, revenue was approximately Rs 47.047 billion, profit after tax was Rs 6.418 billion, and EPS was Rs 112.58. These are different reporting bases and should not be compared as though they were the same set of figures. Shareholders approved a final cash dividend of Rs 12 per share for FY2026, which the company reported as credited in October 2026. GAL appeared as Shariah-compliant in the KMI All Share Islamic Index review effective June 5, 2026. **Important risk consideration:** The PSX company page displays a Risk Warning Alert referring to continuing violations of specified exchange clauses and possible suspension or delisting. Investors should investigate the current exchange notice and its status alongside the company’s financial performance, valuation, and business outlook.
Ghandhara Automobiles Limited (PSX: GAL), formerly known as Ghandhara Nissan Limited, is a Pakistani automobile assembler incorporated on August 8, 1981. The company is a subsidiary of Bibojee Services (Private) Limited and is listed on the Pakistan Stock Exchange.
Its principal activities include assembly and progressive manufacturing of vehicles such as JAC trucks and pick-ups, importing and selling spare parts, importing and selling Nissan, Dongfeng and Renault vehicles in completely built-up condition, and assembling other vehicles under contractual arrangements.
The company's performance is influenced by vehicle demand, consumer purchasing power, interest rates, exchange-rate movements, import and localization policies, component availability, manufacturing costs, and competition within Pakistan's automotive market.
FY2026 Financial Performance
The PSX company page provides the following annual financial figures. Standalone figures and consolidated figures are presented separately because they represent different reporting scopes.
Standalone financial results
| Financial year ended June 30 | Revenue | Profit after tax | EPS |
|---|---|---|---|
| FY2026 | Rs 28.834bn | Rs 3.465bn | Rs 60.79 |
| FY2025 | Rs 23.172bn | Rs 2.390bn | Rs 41.92 |
| FY2024 | Rs 5.385bn | Loss of Rs 258.81m | Rs -4.54 |
| FY2023 | Rs 10.033bn | Rs 63.70m | Rs 1.12 |
Source: PSX official company profile. Amounts are converted from thousands of rupees where applicable.
Standalone revenue increased by approximately 24.4% in FY2026 compared with FY2025, while standalone profit after tax increased by approximately 45.0%. EPS rose from Rs 41.92 to Rs 60.79. These figures show improved reported annual performance, but investors should review the full annual report to understand the contribution of vehicle volumes, product mix, margins, finance costs, taxation, and any non-recurring items.
Consolidated financial results
| Financial year ended June 30 | Consolidated revenue | Consolidated profit after tax | Consolidated EPS |
|---|---|---|---|
| FY2026 | Rs 47.047bn | Rs 6.418bn | Rs 112.58 |
| FY2025 | Rs 34.512bn | Rs 4.096bn | Rs 71.85 |
Source: FY2026 annual report information. Consolidated results include the group reporting scope and should not be substituted for standalone figures.
Consolidated revenue increased by approximately 36.3% year over year, while consolidated profit after tax increased by approximately 56.7%. Investors should inspect the audited consolidated statements and notes to understand the contribution of subsidiaries and the differences between group and company results.
Profitability and Financial Ratios
The PSX data provider reports the following standalone ratios:
| Ratio | FY2026 | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Gross profit margin | 19.92% | 16.88% | 4.43% | 6.34% |
| Net profit margin | 12.02% | 10.31% | -4.81% | 0.63% |
| EPS growth | 45.01% | 1,023.35% | -505.36% | -36.72% |
Source: PSX official company profile. Historical ratios can be affected by a low or negative comparison-year earnings base.
The reported gross and net margins improved in FY2026 compared with FY2025. However, the substantial fluctuations across earlier years show why investors should examine the full earnings cycle rather than extrapolate one year's growth. Working capital, cash flow, debt, capacity utilization, and the sustainability of demand are also relevant when assessing the quality of reported profits.
Dividend History and FY2026 Payout
The company recommended a final cash dividend of Rs 12 per share for FY2026, equivalent to 120% of the Rs 10 face value. Shareholders approved the dividend at the annual general meeting held on October 13, 2026. The company subsequently announced the credit of the dividend in October 2026.
The annual-report information records a cash dividend of Rs 10 per share for FY2025. Dividend amounts should be interpreted in relation to earnings, cash flow, capital requirements, and the company's future investment needs. A historical dividend does not guarantee future distributions.
Verify dividend notices and corporate actions through the official PSX profile and the company's financial reports page.
Share Price and Valuation Snapshot
The PSX page showed the following market information on October 23, 2026, at approximately 12:01 p.m. This is a dated snapshot, not a live quote.
- Share price: Rs 479.00
- Previous closing price (LDCP): Rs 486.32
- 52-week price range: Rs 291.00–672.97
- Trailing P/E ratio: 7.88, as displayed by PSX
- Market capitalization: Approximately Rs 27.304 billion
- Shares outstanding: Approximately 57.003 million
- Free float: Approximately 22.801 million shares, or 40%
- One-year price change: -15.01%
- Year-to-date price change: -12.87%
Source: PSX official company profile.
The price-to-earnings ratio compares the share price with the relevant trailing earnings per share. A low P/E ratio does not by itself establish that a share is undervalued. Investors should use a consistent price date and earnings basis, review group versus standalone performance, and account for the company's exchange warning, business risks, and potential earnings volatility.
The historical price range describes past market trading, not a forecast or a guaranteed support and resistance range.
Shariah Compliance Status
Ghandhara Automobiles Limited appeared as Compliant in the KMI All Share Islamic Index review based on accounts as of December 31, 2025, with the recomposed index effective June 5, 2026. The review lists a non-compliant income ratio of 0.10%.
This is a dated screening result, not a guarantee of permanent compliance. Shariah screening can change as financial ratios, business activities, or screening methodology change. Investors should check the latest applicable index review and company disclosures before investing.
Sources: KMI Islamic Index review and PSX Shariah-compliant investment resources.
PSX Risk Warning Alert
The PSX company page displays the following warning:
The Company is in continuous violation as specified in Clauses 5.11.1. or 5.11.2. and carry risk of suspension of trading or being delisted from the Exchange and may be subject to such terms and conditions as specified by the Exchange.
This is a material exchange warning. The displayed text refers to continuing violations of specified clauses and potential suspension or delisting risk, but it does not by itself explain the exact underlying violation or confirm that suspension or delisting has occurred.
Before making an investment decision, investors should review the latest PSX notice, subsequent company announcements, and any exchange clarification. The current status should be checked again immediately before publication because regulatory notices can change.
Key Risks to Monitor
- Regulatory and exchange risk: The PSX Risk Warning Alert raises potential suspension or delisting concerns that require investigation.
- Automotive demand: Vehicle sales can be affected by household purchasing power, financing costs, and economic conditions.
- Import and currency exposure: Exchange-rate movements and the availability or cost of imported components may affect production costs and margins.
- Competition and product mix: Market share, pricing, model availability, and demand for commercial vehicles can influence revenue and profitability.
- Earnings volatility: Historical results show substantial variation, including a standalone loss in FY2024 followed by recovery.
- Working capital and financing: Inventory, receivables, supplier payments, and financing costs can affect liquidity and cash generation.
- Shariah status: Investors should monitor updated screening results and applicable compliance criteria.
Frequently Asked Questions
1. What is the PSX symbol of Ghandhara Automobiles Limited?
Its Pakistan Stock Exchange symbol is GAL.
2. Is Ghandhara Automobiles Shariah-compliant?
GAL was listed as Compliant in the KMI All Share Islamic Index review effective June 5, 2026, based on December 31, 2025 accounts. Investors should verify the latest screening status before investing.
3. What was GAL's standalone EPS in FY2026?
The PSX company page reports standalone EPS of Rs 60.79 for the financial year ended June 30, 2026.
4. What was GAL's consolidated EPS in FY2026?
The FY2026 annual-report information reports consolidated EPS of Rs 112.58. Consolidated EPS differs from standalone EPS because it uses the group reporting scope.
5. What dividend did GAL approve for FY2026?
Shareholders approved a final cash dividend of Rs 12 per share at the AGM held on October 13, 2026. The company reported the dividend credit in October 2026.
6. What does the PSX Risk Warning Alert mean?
It refers to continuing violations of specified exchange clauses and the possibility of suspension or delisting. Investors should read the latest official PSX notice to identify the underlying issue and determine its current status.
7. Where can investors verify GAL's financial results?
Use the official PSX company page and the company's financial reports page.
Related Resources
- Browse PSX Investors Zone company profiles
- Check Shariah-compliant stocks
- Read PSX market updates
- GAL official PSX profile
- Ghandhara Automobiles financial reports
Research note: Financial figures, dividend details, Shariah status, and market data are based on the sources and dates identified above. Check the latest official financial statements, PSX announcements, and Risk Warning Alert before publishing or relying on the profile.
This profile is for educational purposes and is not a recommendation to buy or sell any security.