Honda Atlas Cars (Pakistan) Limited
By PSX Investors Zone · Updated October 20, 2026
Honda Atlas Cars (Pakistan) Limited (PSX: HCAR) assembles and sells Honda vehicles and spare parts in Pakistan. For FY2026, PSX standardized financial data reports sales of Rs.122.28 billion, profit after tax of Rs.3.23 billion and EPS of Rs.22.64. The company declared a final cash dividend of Rs.9 per share for the year ended March 31, 2026. HCAR’s performance depends on vehicle demand, consumer purchasing power, exchange rates, import policies, production costs and competition. Its PSX profile also displays a Risk Warning Alert relating to potential suspension or delisting, which investors should review alongside the latest official disclosures.
Company Overview
Honda Atlas Cars (Pakistan) Limited (HCAR) is a Pakistani automobile assembler incorporated on November 4, 1992. The company commenced commercial production in July 1994 and is a subsidiary of Honda Motor Co., Ltd., Japan.
Its principal activities include assembling, progressively manufacturing and selling Honda vehicles and spare parts in Pakistan.
Official sources: PSX company profile | Honda Atlas official website | Honda Atlas investor relations
Business Model
HCAR generates revenue through the assembly and sale of vehicles and the sale of spare parts. Its business is sensitive to economic conditions and government policies affecting the automobile industry.
Key factors to monitor include:
- Vehicle sales and booking trends
- Consumer purchasing power and auto-financing rates
- Exchange rates and imported component costs
- Government import, localisation and taxation policies
- Competition from other automobile manufacturers
- Production capacity, operating costs and inventory
- Spare-parts revenue and after-sales demand
Financial Performance
Annual Results
PSX standardized financial data reports the following figures for the financial years ended March 31. Amounts are rounded.
| Financial metric | FY2026 | FY2025 |
|---|---|---|
| Sales | Rs.122.28bn | Rs.78.07bn |
| Profit after tax | Rs.3.23bn | Rs.2.71bn |
| Earnings per share (EPS) | Rs.22.64 | Rs.18.97 |
| Gross profit margin | 7.75% | 8.54% |
| Net profit margin | 2.64% | 3.47% |
Sales increased substantially in FY2026, and reported profit and EPS also improved. However, gross and net profit margins declined, so investors should investigate changes in product mix, input costs, pricing and other expenses rather than relying on revenue growth alone.
Source: Official PSX HCAR profile and financial data
PSX notes that its standardized figures may differ from the company's published financial statements. Use the original annual report for detailed analysis.
Latest Quarterly Results
For the quarter ended June 30, 2026, PSX standardized data reports:
| Financial metric | Q1 FY2027 |
|---|---|
| Sales | Rs.37.20bn |
| Profit after tax | Rs.2.49bn |
| EPS | Rs.17.41 |
The corresponding FY2026 quarterly results were sales of approximately Rs.26.46 billion, profit after tax of Rs.828.44 million and EPS of Rs.5.80.
The latest quarter showed stronger reported earnings than the corresponding period a year earlier. Investors should compare the original quarterly report, vehicle sales, margins and any non-recurring items before concluding that this performance will continue.
Source: PSX HCAR profile and quarterly financials | Company investor relations
Share Price and Valuation
PSX displayed the following market information on October 19, 2026, at approximately 3:48 PM:
| Indicator | Value |
|---|---|
| Share price | Rs.200.57 |
| P/E ratio (TTM) | 5.86 |
| 52-week high | Rs.303.00 |
| 52-week low | Rs.147.50 |
| One-year price change | -33.15% |
| Year-to-date price change | -26.93% |
These figures are a dated snapshot, not a live quote. Confirm the latest PSX price before publishing current market data.
Source: Official PSX HCAR profile
A low P/E ratio does not automatically mean a share is undervalued. Investors should consider earnings sustainability, cash flow, margins, the automobile sales cycle and the company's exposure to foreign exchange and government policy.
Dividend Information
Honda Atlas declared a final cash dividend of Rs.9 per share for the financial year ended March 31, 2026. The company's investor-relations page describes this as a 90% dividend.
Investors should check the official dividend notice for entitlement dates, book closure dates and confirmation of payment. A past dividend does not guarantee a future payout, and dividend yield changes with the share price.
Source: Honda Atlas investor relations — dividend declarations
Shariah Screening Status
HCAR was listed as Shariah-compliant in the review effective June 5, 2026, based on accounts to December 31, 2025. The available screening information identifies HCAR as a constituent of the KMI-30 and PSX-KMI All Share Islamic Index.
The screening review reported the following ratios:
| Screening measure | Reported value |
|---|---|
| Debt ratio | 4.78% |
| Non-compliant investments ratio | 0.00% |
| Non-compliant income ratio | 0.38% |
| Illiquid assets ratio | 50.60% |
Screening reference: HCAR screening history and ratio details | Official PSX company profile
Important: These figures relate to a specific screening period. Before displaying a current Shariah-compliant label, verify the newest official PSX or authorised KMI screening notice, including its effective date. This company profile is not an independent Shariah ruling.
Important PSX Risk Warning Alert
The PSX company profile displays a Risk Warning Alert stating that HCAR is in continuous violation of requirements specified in Clauses 5.11.1 or 5.11.2 and carries a risk of suspension of trading or delisting.
This warning should be disclosed clearly to readers. It does not, by itself, establish that trading has already been suspended or that the company has been delisted. Check the latest PSX notices to determine the nature of the violation and whether any subsequent action has been taken.
Source: Official PSX HCAR profile
Key Risks
- Vehicle demand: High financing costs or lower consumer purchasing power may reduce vehicle sales.
- Foreign exchange: Currency movements can affect imported components and production costs.
- Government policy: Taxes, duties, import restrictions and automobile regulations may affect pricing and volumes.
- Competition: Other local assemblers and new market entrants can put pressure on market share and margins.
- Profit margins: Higher revenue does not necessarily translate into stronger margins or cash flow.
- Market volatility: Share prices can change substantially with earnings, expectations and broader market conditions.
- PSX Risk Warning Alert: Investors should verify the current exchange notice and its implications.
Investor Research Checklist
Before analysing HCAR, review:
- The latest audited annual report and quarterly financial statements.
- Vehicle sales, production volumes and booking trends.
- Gross margins, operating expenses and cash flow.
- Foreign-exchange exposure and imported component costs.
- Government policy changes affecting the automobile sector.
- Official dividend declarations and payment status.
- The latest official Shariah screening notice.
- The current PSX Risk Warning Alert and related notices.
Frequently Asked Questions
What does HCAR do?
Honda Atlas Cars assembles and progressively manufactures Honda vehicles and sells vehicles and spare parts in Pakistan.
What was HCAR's EPS in FY2026?
PSX standardized financial data reports EPS of Rs.22.64 for FY2026.
Did HCAR declare a dividend for FY2026?
Yes. The company declared a final cash dividend of Rs.9 per share for the year ended March 31, 2026. Check the official company notice for entitlement and payment details.
Is HCAR Shariah-compliant?
HCAR was listed as compliant in the screening review effective June 5, 2026, based on accounts to December 31, 2025. Verify the latest official screening notice before relying on its current status.
Does HCAR have a PSX risk warning?
Yes. The PSX profile displays a Risk Warning Alert concerning continuous violations and possible suspension or delisting. Review the latest exchange notices for the current position.
Is HCAR a good investment?
That depends on the share's valuation, business outlook, financial position and an investor's circumstances. This profile is for research and education, not a personalised buy or sell recommendation.
Disclaimer
This page is for educational and informational purposes only. Financial figures, market prices, dividends and Shariah screening status may change. Confirm material information against the latest official PSX notices, company reports and authorised screening publications before making an investment decision. PSX Investors Zone does not guarantee profits or returns and does not provide personalised investment advice.
This profile is for educational purposes and is not a recommendation to buy or sell any security.