Al-Ghazi Tractors Limited
By PSX Investors Zone · Updated October 16, 2026
Al-Ghazi Tractors Limited (AGTL) is a Pakistan Stock Exchange-listed manufacturer and seller of agricultural tractors, generators, implements and spare parts. The company produces New Holland tractors and is a subsidiary of Al-Futtaim Industries Company LLC, UAE. Its financial performance is influenced by tractor demand, farmers’ purchasing power, agricultural income, government policies, production costs and access to financing. Investors researching AGTL should review its latest financial results, cash flows, dividend policy and official Shariah-screening status before making investment decisions.
Company Overview
Al-Ghazi Tractors Limited (AGTL) is a listed Pakistani company engaged in manufacturing and selling agricultural tractors, generators, implements and spare parts, along with providing irrigation solutions for agriculture. The company was incorporated in June 1983 and is a subsidiary of Al-Futtaim Industries Company LLC, UAE.
AGTL manufactures New Holland tractors for the Pakistani market. Its business is closely connected to agricultural activity and farmers’ ability to purchase machinery. Source: PSX company profile
Business Model
AGTL earns revenue primarily from selling tractors and related agricultural products. Key business drivers include:
- Demand for tractors from farmers and agricultural businesses.
- Crop prices, farm incomes and agricultural financing availability.
- Government policies, taxes and incentives affecting tractor purchases.
- Steel, components, energy, labour and other manufacturing costs.
- Product availability, distribution, after-sales service and competition.
Fundamental Analysis
Investors should assess AGTL using its revenue, profit margins, earnings per share (EPS), operating cash flow, inventory, receivables, working-capital requirements and dividend history. A change in tractor sales can materially affect earnings because production and operating costs may not adjust at the same pace as revenue.
Annual Financial Performance
The following figures are from the financial data displayed on the PSX company profile. Amounts are in Pakistani rupees.
| Financial metric | FY2025 | FY2024 |
|---|---|---|
| Sales | Rs. 20.371 billion | Rs. 34.574 billion |
| Profit after tax | Rs. 1.301 billion | Rs. 3.542 billion |
| Earnings per share (EPS) | Rs. 22.44 | Rs. 61.11 |
| Gross profit margin | 25.35% | 24.40% |
| Net profit margin | 6.39% | 10.25% |
What the figures indicate: FY2025 sales fell by approximately 41% compared with FY2024, while profit after tax declined by approximately 63%. EPS also decreased substantially. These results make it important to examine tractor sales volumes, costs, working capital and management’s plans for business improvement.
PSX notes that some financial data may be standardized and could differ from the figures presented in the company’s original reports. Check the original annual report before using the figures for detailed financial modelling.
Sources: PSX financial profile | FY2025 Annual Report
Latest Quarterly Results
The PSX profile reports the following quarterly figures for 2026:
| Financial metric | Q1 2026 | Q2 2026 |
|---|---|---|
| Sales | Rs. 7.028 billion | Rs. 6.912 billion |
| Profit after tax | Rs. 677.776 million | Rs. 770.501 million |
| EPS | Rs. 11.69 | Rs. 13.29 |
These are the quarters ended March 31 and June 30, 2026, respectively. The figures suggest positive reported earnings in both quarters, but investors should also review year-on-year comparisons, cash flows and the complete interim reports.
Source: PSX AGTL profile and financial results
Dividend History and Policy
AGTL did not recommend a cash dividend for FY2025. In its annual report, the Board explained that it intended to retain earnings to support product innovation, operational modernization and technology adoption.
Investors who focus on dividend income should not assume that AGTL will resume dividend payments in a future period. Dividend decisions depend on the company’s financial position, capital requirements and Board recommendations.
Source: AGTL FY2025 Annual Report
Shariah Compliance Status
AGTL appears in the Pakistan Stock Exchange’s published screening data under the KMI All Share Index. This is a useful screening reference, but investors should verify the latest official screening list and its effective date before treating the shares as Shariah-compliant for their own investment purposes.
Screening status can change as financial statements and screening criteria are updated. Do not rely solely on an older company profile or a previous screening result.
Sources: PSX Stock Screener | PSX Islamic Indices
Important PSX Risk Notice
The AGTL profile has displayed a Risk Warning Alert stating that the company is in continuous violation of specified PSX regulatory clauses and may face a risk of trading suspension or delisting, subject to Exchange requirements. This warning is not, by itself, confirmation that trading has been suspended or that the company has been delisted.
Before publishing or updating this profile, check the current AGTL page and the latest PSX notices to confirm whether the warning remains in effect.
Source: Official PSX AGTL profile
Key Risks for Investors
- Demand risk: Tractor sales can fluctuate with agricultural incomes, crop prices and financing availability.
- Policy risk: Government taxes, subsidies and import policies may affect the sector.
- Cost risk: Manufacturing costs and changes in input prices can affect margins.
- Earnings volatility: FY2025 results were materially weaker than FY2024.
- Dividend uncertainty: No dividend was recommended for FY2025.
- Regulatory and screening risk: Review current PSX notices and Shariah-screening information before making a decision.
What Investors Should Monitor
- Monthly tractor sales and production data, where reliably available.
- Quarterly revenue, EPS and profit margins.
- Operating cash flow, inventory and receivables.
- Management updates on operational improvements and investment plans.
- Official dividend announcements.
- Current PSX risk notices and the latest Shariah-screening list.
Frequently Asked Questions
What does AGTL do?
AGTL manufactures and sells agricultural tractors, generators, implements and spare parts, and provides irrigation solutions.
Was AGTL profitable in FY2025?
Yes. The PSX profile reports profit after tax of approximately Rs. 1.301 billion and EPS of Rs. 22.44 for FY2025.
Did AGTL announce a dividend for FY2025?
The Board recommended no cash dividend for FY2025, according to the annual report.
Is AGTL Shariah-compliant?
AGTL appears in PSX screening data under the KMI All Share Index. Verify the latest official screening notice before relying on this status.
Where can I find official AGTL financial reports?
Visit the AGTL Investor Information page or the PSX company profile.
Disclaimer
This profile is for educational and informational purposes only. It is not a recommendation to buy or sell AGTL shares, and it does not promise any profit or investment outcome. Verify the latest company disclosures, financial statements, PSX risk notices and Shariah-screening status before making investment decisions.
This profile is for educational purposes and is not a recommendation to buy or sell any security.