Karachi: Ghandhara Automobiles Ltd (GAL), Ghandhara Industries Ltd (GHNI), and Indus Motor Company Ltd (INDU) are anticipated to report notable earnings growth for the fourth quarter of the fiscal year 2026, primarily driven by increased sales volumes and improved margins.

According to JS Global, GAL and GHNI are expected to achieve earnings per share (EPS) of Rs42.3 and Rs50.8 respectively, marking year-over-year increases of 32% and 31%. This growth is attributed to a significant rise in core truck and light commercial vehicle sales, alongside robust performance from GAL's subsidiary, DF Pvt. Ltd. GHNI is projected to benefit from an 18% increase in sales volumes compared to the previous year. Both companies are expected to issue a payout of Rs20 per share.

Indus Motor Company Ltd (INDU) is projected to report a modest 1% year-over-year increase in EPS, reaching Rs83.13 for the same quarter. This slight growth is expected to result from improved margins, which are anticipated to rise by 1.8 percentage points, offsetting a 3% decline in net sales. The company is also expected to announce a payout of Rs50 per share, bringing the total payout for the fiscal year to Rs198 per share.

JS Global maintains a buy recommendation on INDU and GAL, with target prices of Rs2,820 and Rs900, respectively.