- Company revenue declined, Margins drop
Sazgar Engineering announced its December 2018 Results where it posted dismal earnings of Rs. 3.3 million or 0.15/share for the quarter as compared to Rs. 46.5 million(EPS:2.16) in similar period last year.
Half Year 2018 earnings were recorded at Rs. 32.6 million as compared to Rs. 84 million. Revenue declined by 23% to Rs. 1.39 billion.
Gross margins declined to 9.7% in 2QFY19 as compared to 11.8% in 2QFY18.
Delay in New Plant
Company announced that construction and civil work for the new plant is almost complete while company is engaged in procuring plant & machinery, and expertise. The company has also imported sample cars for testing.
However, company expects that plant will be operational by 31-Dec-2019 instead of Jun-2019 as earlier planned.