Indus Motor Company Limited (IMC), proudly welcomed the 5th batch of its flagship, Toyota Goth Education Program (T-GEP) matriculates, at a small ceremony held at its headquarters in Karachi. In attendance were IMCs CEO and senior executives and Mr Rehan Usman, General Manager, The Citizens Foundation.

Of the total 37 students – 24 girls and 13 boys – 89% or 33 students produced A1 and A grades whilst the remaining passed with B grade. Moreover, this year saw a much higher female representation within the batches. The company’s CEO, Mr. Ali Asghar Jamali met with the students and school Principals and presented them with a Certificate of Appreciation for their outstanding academic achievement.

Speaking fondly of the visit, the CEO IMC, Mr. Ali Asghar Jamali said, “Our CSR program, Concern Beyond Cars, is all about creating impact and this outstanding result by T-GEP students is just that. Words cannot express the pride I feel in these amazing young children, especially the girls, considering the conservative background they come from. Education is every child’s right and we believe in fostering opportunities for the not so fortunate. Like I’ve said earlier, education is the only game changer for Pakistan and undoubtedly these young students will be the change agents of today and drive Pakistan’s future tomorrow.”

The Toyota Goth Education Program was instituted in 2008 under its Neighbouring Community Uplift Initiative to provide full financial support for elementary and secondary school education to children from economically disadvantaged communities of neighboring localities where IMC operates. The T-GEP is run in tandem with The Citizens Foundation (TCF), for imparting quality education from grassroot level. The total number of students enrolled currently in the program is 300.

Indus Motor Company Limited (IMC), announced its financial results for the first quarter ended September 30, 2022, witnessing a massive decline in profit after tax by 76% to Rs. 1.30 billion, as against Rs. 5.42 billion achieved in the corresponding quarter last year.
The decline in net profit was mainly due to lower CKD and CBU sales volume and increase in input costs mainly on account of severe PKR devaluation against US Dollar, which is partially off-set by an increase in other income due to higher fund size and higher interest rates.
During the quarter, the Company’s combined sales of Completely Knocked Down (CKD) and Completely Built Unit (CBU) vehicles decreased by 52% to 8,994 units as against 18,855 units sold in the same quarter last year. The Company produced 9,218 vehicles, 45% lower, as compared to 16,896 units produced in the same quarter last year. The decline in production was mainly owing to limited imports of CKD kits as allowed by State Bank of Pakistan (SBP), forcing the company to observe regular plant shutdown during the quarter.

The net sales turnover decreased by 43% to Rs. 37.25 billion, as compared to 65.55 billion for the same period last year. The Company’s overall market share for the quarter stood at 19%.

Expressing his views, IMC Chief Executive, Ali Asghar Jamali, commented, “The first quarter of 2022-23 has been off to a turbulent start, not just for us but for the industry too. Since July this year, we have been operating at 50% plant capacity, given the business environment and external challenges that the auto sector is currently facing, and the continuing restrictions on CKD imports by SBP. We request the Government to reconsider its restrictions placed on CKD imports. A mere 3% of the country’s total import bill goes towards the auto sector, however the restrictions posed are not only having a significant adverse impact on the automobile players, but also the country’s local vendor industry and the associated 3 million direct and indirect labour employed with it.

He further said, “IMC continues to deliver vehicles at old committed price to customers, despite the volatility of Pak Rupee against US Dollar and in international commodity prices. However, going forward, continuing restrictions on CKD imports by the SBP and decline in demand due to lower purchasing power of customers and impact of the devastating floods, may continue to impact the volumes and sales of auto sector.”

Based on the results, the Board of Directors announced an interim cash dividend of Rs. 8.20 per share for the quarter.

The Report has been prepared in line with the international GRI (Global Reporting Initiative) Sustainability Reporting Standards, elaborating the three aspects of Sustainability i.e. People, Planet and Prosperity. It also complies with the United Nations Global Compact (UNGC), “Ten Principles”, to which IMC is a signatory and aligned with the Toyota Environmental Challenge 20250.
Expresing himself, IMC’s CEO Mr. Ali Asghar Jamali said, “Sustainability is the key to understanding the future. For the world to achieve the 2030 agenda, all of us need to do our bit, no matter how small, to make a positive difference and corporates must play their part by making a concerted effort towards this common goal. Our social responsibility program, Concern Beyond Cars, has made great strides over the years in initiatives spanning environment conservation, education, traffic safety, healthcare, sports, etc encapsulated in the Sustainability Report. Like the Report says, “there’s no planet ‘B’, make everyday Earth day.”

In September 2022, our Sustainability Report for the FY 2021 won the Best Sustainability Report Award 2021 – Certificate of Merit, conferred by the ICMA & Institute of Chartered Accountants of Pakistan. The latest report is available on the Company’s website.

The laurel recognizes IMCs outstanding performance whilst demonstrating progressive management practices during 2022. IMC has been a recipient of Best in Sectoral Corporate Excellence Award, for the 7th time since 2010, and also won the coveted Overall Industrial Corporate Excellence Award, four times. The evaluation for the Awards comprised of four phases and results compiled by a neutral third-party consultant hired by MAP. To quote Jamali san,

“ For us, the Toyota Way has been instrumental in this crowning accomplishment. Excellence is more than a set of year-end results, it’s a journey of prevailing attitude.”
——– Ali Jamali

Congratulations to the each & every member on IMCs Team for this great achievement.

Media Management & CSR Team

Dated: 4th October 2022

Karachi: The Professionals Network (TPN) honored Indus Motor Company with awards in multiple categories, for its exceptional contribution to the Global Goals, at the 8th International Environment, Health and Safety Summit and Awards 2022. The awards were presented by Mr. Dadlo Zuhrani, Additional Commissioner, Karachi to IMC’s Asad Abdullah, Head of CSR & Media Management. The award ceremony hosted by TPN was attended by notables from the corporate sector, government organizations, NGOs, academia and media.

A total of 89 companies competed in 23 award categories, 49 of which won awards. IMC won the highest number of awards, leading in categories for “Best Environmental Practices”, “Hazards & Controls Associated with Work Equipment”, “Water Treatment” and “Support for Health Care Organizations”.

Chief Executive IMC, Ali Asghar Jamali, sharing his thoughts on the occasion, said “It’s great to be acknowledged for our efforts and The Professionals Network under Mr Mehmood Tareen’s command provides an excellent platform for corporates to showcase their initiatives. At Toyota, environment and health are amongst the top global priority fields and our CSR program, Concern Beyond Cars, actively works in that direction. We also have a very robust 5S culture internally, safety being an important element which takes preference above everything else.”

IMC under its Million Tree Plantation Program has so far planted around 700,000 trees. The company is also running the outreach Toyota 5S Ecological Conservation Program to benefit a larger audience of children and young adults through online awareness-raising sessions.

During the year ended June 30, 2022, the sales volume of CKD and CBU vehicles increased by 30.97%, to 75,611 units as against 57,731 units sold last year. The Company produced 72,438 units for the year, as compared to 59,187 units produced in the same period last year.

The net sales turnover for the year ended June 30, 2022, increased by 53.74 % to Rs. 275.5 billion as compared to Rs. 179.2 billion in the last fiscal year, while profit before tax for the year also increased to Rs. 25.5 billion, as against Rs. 18.2 billion achieved in last year. The increase in turnover and profitability for the year was mainly due to higher CKD and CBU sales volumes.

In relation to performance of the 4th Quarter ended June 30, 2022, the net sales turnover increased by 5.68% to Rs. 72.1 billion as compared to Rs. 68.2 billion in the Quarter ended March 31, 2022. However, profit after tax for the quarter decreased significantly by 90% to 0.51 billion, as against Rs. 5.12 billion achieved in the Quarter ended March 31, 2022. The decrease in profitability in the last quarter, is mainly on account of increase in input costs due to unprecedented depreciation of PKR against US Dollar, increase in freight charges and soaring international commodity prices.

Expressing his views, Ali Asghar Jamali, Chief Executive of IMC, commented, “Despite the turbulent business environment and external challenges that the auto sector is currently facing, Alhamdulillah, with the support of our employees and customers, we have achieved consistently high standards of excellence and performance. The Company has achieved the highest ever unit sales and production in the current fiscal year. The Company has however faced significant challenges on cost fronts, contributed mainly by significant devaluation of PKR, high input material costs, freight charges, etc. Moreover, widening of current account deficit and decline in reserves has forced the Government to resort to tighter fiscal control and monetary policies, including hike in interest rates, stringent auto financing rules and import restrictions for CKD of passenger vehicles, which will affect the volumes and profitability of the auto sector in upcoming periods.”

He added, “Sadly, the recent torrential rains and flash flooding, the worst the country has witnessed, has been catastrophic with villages wiped-out, thousands of lost lives and millions left homeless. In this hour of dire need, it is the moral obligation and duty of every Pakistani, to step forward and offer their help, no matter how little. Under our Corporate Social Responsibility (CSR) badge, Concern Beyond Cars, we are undertaking a flood relief operation with our team of volunteers who will be on the ground, in rural Sindh in the first phase.”

The Company also announced to Pakistan Stock Exchange (PSX) yesterday, that it is going for temporary shutdown its production plant from 1st September 2022 to 16th September 2022, due to insufficient inventory levels to maintain its production, on account of delay in approvals from State Bank of Pakistan for import of CKD Kits and components of Passenger vehicles. The company has also shut down its plant earlier in the current month from August 1 to August 13, 2022, which was announced to PSX on 29th July 2022.

Based on the results, the Board of Directors announced a final dividend of 3.25 per share, making the annual dividend for the year to Rs. 93.75 per share.

Celebrating 14th August with patriotic fervor is every Pakistani citizen’s privilege and as responsible citizens, upholding the national flag’s sanctity and showing it due respect is our principal duty. Indus Motor Company (IMC), organized a drive to salvage national flags strewn around the city of Karachi under the slogan “Respect Our Nation’s Pride.”

The Independence Day generates a lot of energy and enthusiasm across the country. Every city and neighbourhood decorated with national flags, buntings, balloons etc, is a sight to behold. However, these flags which earlier were fluttering high above ground, are unfortunately found hanging torn, in garbage heaps or strewn on the ground, waiting to be carelessly trampled under-foot, an insult to our national pride.

To mitigate the incidence of desecration of this national symbol, IMC for the fifth running year, set out on a drive for collection of national flags and buntings littered around the city on 15th August 2022. IMC employees, under the Employee Volunteering Program participated in the activity moving along pre-determined routes spanning the city.

IMC’s Chief Executive, Ali Asghar Jamali expressed, “14th August for every Pakistani anywhere around the world, holds a lot of value as does the qaumi parcham. The excitement is definitely contagious. However, in all that excitement, it is really sad to see the flags and buntings being so recklessly disrespected. This initiative under our Employee Volunteering Program is just a reminder for all of us to be mindful of our responsibility and give the National Flag the respect it deserves.”

The activity also generated public interest, who also joined in, considering it a civic duty, and also appreciated IMC’s efforts.
 

August 12, 2022: Pakistani boxing prodigy Shahir Afridi successfully defended his Asian Boxing Federation (ABF) Middleweight Champion title, knocking-out his Indian rival, Israr Usmani, in less than two minutes into the first round. The highly anticipated fight, held in Bangkok, was sponsored by Indus Motor Company (IMC) under its Corporate Social Responsibility badge, Concern Beyond Cars.

Having fought five boxing matches, both in Pakistan and internationally, for the 27-year-old Shahir, his boxing career took off in 2020. Given his limited experience, he boasts an impressive boxing record of 4-0-1 (Wins-Losses-Draws). He secured his Asian Middleweight Title in May this year against a Thai opponent and subsequently accepted the challenge from his Indian counterpart to defend his Asian Title at the Asian Boxing Federation fight earlier this month. This fight was Shahir’s first title defense for his ABF title. Shahir currently also serves with the Rapid Response Force, Sindh Police.

“This fight has been an important milestone for me”, said Shahir Afridi whilst proudly holding on to the championship belt. “I am very grateful to Allah SWT for this victory and proud to make my country stand tall. I want to thank Indus Motor for believing in me and coming to my rescue at a time when I had lost all hope of defending my Asian Title. It really means a lot to me. I guess boxing is in my genes; my father too was a professional boxer and an Olympian and I look to him for guidance and advice. I am aiming to compete in the Welterweight class and have set myself a target to raise my current world ranking of 1.5 to 3.0, till next year end. This will then put me in a position to eventually go for the World Title which is my ultimate goal.”

IMC Chief Executive, Ali Asghar Jamali congratulated the boxing genius and expressed, “It was indeed very heartening to hear about Shahir’s thumping win against his Indian opponent at the ABF Championship. He has really made Pakistan proud. This is exactly what Toyota envisions in its endeavor to foster opportunities for young talented individuals such as Shahir Afridi, enabling them to excel and reach new heights.” He further said, “We at IMC are extremely proud of Shahir’s achievement. His victory is a testament to Toyota’s transformational vision, ‘Mobility for All’ and the creation of a more inclusive and sustainable society”.

Sports is one of Toyota’s leading social contribution activity fields and IMC has been supporting young, emerging people to explore and exploit their potential. Saadi Abbas, the karate champion from Lyari supported under Toyota’s, Start Your Impossible. Most recently, the company had also sponsored the 23-year-old, Asad Ali Memon, in his quest to summit Mount Denali in North America, which he successfully achieved.
 

August 10, 2022: Indus Motor Company (IMC) and Niaz Malik Consultants (NMC), have joined hands, officially engaging Mr Niaz Malik as its Brand Ambassador for Road Safety. The signed agreement was presented to Mr Niaz Malik at Lahore by IMCs Head of CSR & Media Management, Asad Abdullah, and Project Leader on Road Safety, Kiran Khawaja. The IMC team also presented Mr Malik with a navy-blue cap with Toyota emblazoned in red across the front, as a warm gesture of welcome to the Toyota family.

Niaz Malik has remained a prominent personality in the corporate world, serving as a business leader both in Pakistan and abroad. In 2016, at the age of 43 years, he survived a near-fatal road accident that left him paralysed from the neck down. Despite this, he remains resilient and an active part of the corporate world. Naturally, he is very passionate about road safety and collaborated with leading corporations in Pakistan to promote it. His efforts have been globally appreciated by the International Road Foundation in Geneva and the United Nations. He has, over the years, been best known as a mentor and a motivational speaker using his extensive corporate and life experiences to become a beacon of mentorship.

Commenting on this alliance, Mr Niaz Malik said, “I am extremely excited to be part of the Toyota family as its Brand Ambassador. It is no surprise that due to the absence of traffic law implementation, disorderly traffic has become the norm in Pakistan. The need for quality and road safety has been paramount in the vision and culture of Toyota. These values bring me and Indus Motors on the same page.” He reiterated the collective outlook of himself and IMC and stated, “Our consistent efforts to create avenues to understand the importance of road safety will indeed save lives and make our nation more prosperous for future generations. I’m extremely thankful to Mr. Jamali and IMCs CSR Team for their faith and confidence in me. Together, we will bring about a great change by helping our people understand the vital aspects of road safety.”

IMC CEO, Mr Ali Asghar Jamali, in his statement said, “With the rapid expansion of motorization, traffic safety in Pakistan has become a serious concern that has witnessed a sharp rise in road traffic-related fatalities and injuries. An estimated 27,500 plus people die annually in the country and another 50,000 end up with some disability. As Safety Leaders, Toyota values safety, be it the Company’s products or safety on roads. I welcome Niaz Malik as the company’s Brand Ambassador on Road Safety and confident that this alliance will pave the way for a more aware society and safer roads.”

According to WHO, most road crashes occur in developing countries where road transport constitutes one of the leading causes of death. In recognition of this global crisis, the United Nations has declared the years 2021 to 2030 as the new Decade of Action for Road Safety, setting the ambitious target of reducing road traffic deaths and injuries by at least 50%. The United Nations have urged all stakeholders, including business leaders, to support the implementation thereof.
 

July 7, 2022: Indus Motor Company (IMC) joined hands with The ChildLife Foundation, pledging its support with a Rs 6.50 million donation, towards establishing the ChildLife Resuscitation Room – equipped with cutting-edge life-saving medical equipment – at the Children’s ER (Emergency Room) at the Pakistan Institute of Medical Sciences (PIMS), Islamabad. In addition, this Resuscitation Room will also provide Telemedicine support through its Telemedicine Control Room at the Ruth Pfau Civil Hospital, Karachi. The facility is set to be operational in August 2022. The cheque was presented by IMCs Head of CSR and Media Management, Asad Abdullah to CEO, ChildLife Foundation, Ahson Rabbani at the Foundation’s corporate office at Karachi.

ChildLife provides life-saving treatment to more than 1 million children annually – free of cost. It manages 24×7 Children Emergency Rooms & Telemedicine Satellite Centers in 75+ public sector hospitals across Pakistan, in partnership with the government. The Foundation, currently, has 11 state-of-the-art model ERs in government teaching hospitals at Karachi, Nawabshah, Larkana, Sukkur, Quetta, Hyderabad and Lahore.

CEO IMC, Ali Asghar Jamali expressed, “Pakistan has one of the world’s highest child mortality rates. According to UNICEF, over 1,000 children below the age of 5 years die every day, 80% owing to
preventable causes. Our CSR program, Concern Beyond Cars, aims at initiatives that are sustainable with a visible impact and this partnership with The ChildLife Foundation is one such instance. Tele-Resuscitation is very revolutionary and the soon to be set-up, Resus Telemedicine Room at the Children’s ER at the country’s leading tertiary care hospitals, PIMS, will offer not only easy accessibility but also open a whole new world for paediatric care for children living in the twin cities, Gilgit-Baltistan and KPK.”

Dr. Ahson Rabbani, CEO of ChildLife Foundation, said, “Indus Motor Company’s contribution will go directly towards setting up the Resuscitation Room with life-saving medical equipment in ChildLife’s newly modernized children’s Emergency Room in PIMS, Islamabad. This is where the most critically ill children will be given free of cost, quality emergency treatment. The support we have received from Indus Motor is commendable and we look forward to nurturing an enduring partnership with them to build a child-safe Pakistan.”

The leading causes of death among children in Pakistan, under the age of 5 years are preterm birth complications, pneumonia, diarrhea, birth asphyxia and malaria and most of these deaths can be prevented by simple, low cost interventions. Better health facilities specially improvement in emergency care can significantly reduce preventable deaths.
 

(June 28, 2022): The UN Global Compact Network Pakistan (UNGCP) conferred upon Indus Motor Company Limited (IMC) another accolade to its growing accomplishments, winning the ‘Living the Global Compact Best Practices Sustainability Award 2021 in the Multinational Enterprises category. The award was presented at the SDGs Pakistan Summit 2022 by His Excellency, the Ambassador of Norway to Pakistan, to IMC’s Asad Abdullah, Head of CSR & Media Management and Member of the UNGC Network Pakistan, Board of Directors.

This is the seventh year running for IMC to have received this award for its outstanding CSR initiatives and its commitment towards responsible sustainability. A total of twelve awards were distributed amongst twelve companies in four award categories i.e. Multinational Enterprises, Large National Enterprises, National Enterprises and Small Medium Enterprises. Another ten national companies received recognition shields for their SDGs initiatives.

Chief Executive IMC, Ali Asghar Jamali, sharing his comments on the occasion said, “First of all, my profound thanks to the UNGC Network Pakistan and the Jury for this honour and recognition of the work we do. It is definitely a morale boost. In today’s modern times, the realisation and need for building a sustainable world is more imminent than ever. As a signatory to the United Nations Global Compact, sustainability remains one of our top concerns and the Company’s activities, contributions and impacts are aligned to create a better, smarter and more sustainable future for Pakistan and the world.”

Adding on, he said, “The Toyota Environment Challenge 2050 unites us all with a common purpose – to be more than just good stewards of the environment and to create positive changes beyond our facility boundaries.”

The Toyota Environmental Challenge 2050, a set of six visionary challenges, seeks to go beyond eliminating negative environmental impacts to creating net positive impacts on the planet and society. Last year, Indus Motor announced an US$100 million investment to produce the first Made in Pakistan, Toyota Corolla Cross Hybrid. – End  

Indus Motor Company’s Champion Summits North America’s Tallest Mount Denali

(June XX, 2022): In his quest to conquer the world’s Seven Summits, the 24-year-old Pakistani mountaineer, Asad Ali Memon, scaled the 20,310 feet high Mount Denali in Alaska and proudly waved the Pakistani flag atop North America’s highest mountain, the 3rd most prominent and 3rd most isolated peak on Earth, after Mount Everest.

Earlier this year, IMC signed on Asad Ali Memon for the Denali climb, under its CSR program Concern Beyond Cars. Asad is an emerging and a high potential sportsman from Larkana, Sindh. Since the beginning of his mountaineering career in 2016, he has summitted several peaks in Pakistan and internationally, setting a world record in 2021 when he climbed the Kilimanjaro and back in 20 hours. Upon completion of his Seven Summits Challenge dream, he will be the third Pakistani to do so.

The Seven Summits Challenge is a mountaineer’s ultimate dream that entails climbing the seven tallest mountains in each of the world’s seven continents. With this successful climb – the fourth in the Seven Summits Challenge – Asad is already more than half way done. His earlier climbs include the tallest mountains in Europe in 2019, South America in 2020 and Africa in 2021.

In an emotional video message from the Denali summit, Asad profusely thanked the people of Pakistan, for their prayers all along and, in particular, Indus Motor Company for its support to make the Denali expedition possible. He said, “It is this love and support that fuels my will and passion to conquer the toughest peaks on Earth.” He went on to insert a peg marking the completion of his climb on the 6,190m high summit.

Commenting on Asad Ali Memon’s achievement, IMC Chief Executive, Ali Asghar Jamali congratulated the young mountaineer and said, “This is thrilling news, Alhamdolillah. A waku-doki moment as we call it in Japanese. Asad Ali has definitely made Pakistan stand tall and proud. It takes incredible courage, will and resilience to overcome obstacles in climbing these towering mountains in sub-zero temperatures. Extreme sports in Pakistan, is unchartered territory and at Toyota, we believe in fostering opportunities for young people, like Asad Ali, for them to excel and reach new heights, also manifested in our CSR program. It also aligns with Toyota’s transformational vision, ‘Mobility for All’, for creation of a more inclusive and sustainable society”.

Eyeing his next challenge, Asad Ali Memon sets himself for Carstensz Pyramid, the highest peak in Ocean Asia later this year.

Earlier in 2018, IMC had supported two national athletes, Saadi Abbas, the Asian Karate Champion from Lyari in Karachi and Zainab Barkat, the star wheelchair Table Tennis Champion from KPK, standing by their side in their journey towards the Olympic Games and Paralympic Games in Tokyo 2020.

Indus Motor Stamps a Landmark 1 Million Vehicles Production

Indus Motor Company (IMC) on 28^th May 2022 announced a landmark achievement of having produced one million vehicles since it began mass production back in 1993.

The one millionth unit, a Toyota Corolla Grande, was lined off at the company’s plant at Karachi, amidst much fanfare. The celebration was attended by over 4,000 employees and representatives from Toyota, which included Yoshiki Konishi, current Executive Advisor & President-elect, Toyota Daihatsu Engineering & Manufacturing, (TDEM) from June 2022.

Nearly three decades ago, the first Toyota Corolla was lined off which today stands proudly displayed at the company’s headquarters. From producing 20 just over 7,000 units annually and a single model (Corolla) back in 1993 to over close to 80,000 units a year and four models today, IMC has come a long way.

Since commencement of commercial production, the company has to date, cumulatively produced 761,700 Corolla, 45,400 Yaris, 111,900 Hilux and Fortuner, under the Toyota badge whilst 81,000 Cuore with the Daihatsu badge.

IMC has played a pivotal role in the country’s economy, since its incorporation in 1989, laying the foundation of automobile industry in Pakistan and development of a local engineering base, leading the way towards localization.

IMC’s contribution can be ascertained from the company’s complete value chain that today consists of part makers supplying over Rs 270 million worth of parts every working day to produce the best in class Toyota vehicles for Pakistan, sold through a growing network of 52 authorised dealerships across the country.

Congratulating the IMC team, Mr Konishi expressed, “For the last 3 decades, our Team Toyota Pakistan has constantly striven to exceed our customers’ expectations by making high quality, reliable and safe vehicles that met all challenges with great success, growing from strength to strength in making Toyota the leading & trusted brand in Pakistan. Your leadership & pursuit to support the development of the local auto manufacturing industry is commendable. I am sure this helps our effort to create more and more Toyota fans in Pakistan. We are fully convinced Pakistan market has a great potential and we have high expectations of IMC.”

Expressing himself, the company’s Chairman, Mohamedali R Habib said, “Toyota & Japan have remained the most committed partners for Pakistan and very recently, we celebrated the 70th anniversary of the establishment of the country’s diplomatic relations with Japan. We value our relationship and send our warmest wishes to the people of Japan. The level of localization we have achieved would not have been possible without the constant support and endeavors of our partners. I would like to congratulate each and every individual on my team for achieving this milestone and many more to follow, Inshallah, together.”

“Alhamdolillah, today is a proud, yet a very humbling moment for all of us at IMC. It’s the realization of a dream envisioned by our late Chairman, Ali Habib. The past 30 years have been a journey of crests and troughs, but what has seen us through is the resilience, persistence and commitment to quality that has helped us reach this far. We are proud of our contributions to the auto industry and the country’s economy,” said Chief Executive, IMC, Ali Asghar Jamali.

Commenting on the future outlook, he added, “IMC has invested US$30 million on upgrading the plant and gearing up to expand production capacity to 76,000 units annually by November this year. Our people are our biggest strength by far and I am very grateful and thank them for their dedication. We are surely blessed with the best people, dealers, suppliers and a powerful brand and of course, our loyal customers whom I want to especially thank for patronizing us over the years. Like we say at Toyota, we don’t make customers for life, we make customers for generations.”

In September 2021, IMC announced an over US$100 million investment for the local production of Hybrid Electric Vehicles in Pakistan and the localization of components, plant expansion and production preparation for the first HEV to be manufactured at IMC plant.

(April XX, 2022): Indus Motor Company Limited (IMC), announced its financial results for the nine months ended March 31, 2022, that witnessed profit after tax of Rs. 15.29 billion, an increase of 81.6% over the corresponding period last year.

The Company’s combined sales of Completely Knocked Down (CKD) and Completely Built-up Units (CBU) vehicles for the quarter ended March 31, 2022, increased by 12.7% to 18,735 units as against 16,266 units sold in the same period last year. Moreover, sales for the nine-month period ended March 31, 2022, increased by 33.4% to 57,637 units as against 42,988 units sold in the same period last year. The company’s market share for locally manufactured passenger cars and light commercial vehicles, stood at approximately 20.3%.

The net sales turnover for the nine months ended March 31, 2022 increased by 55.1% to Rs. 203.41 billion, as compared to Rs. 131.16 billion in the same period last year, while profit after tax increased to Rs. 15.29 billion, as against Rs. 8.42 billion achieved in the same period last year. The net profit has increased mainly due to higher CKD and CBU sales and increase in other income due to higher fund size on account of increase in customer advances.

Ali Asghar Jamali, Chief Executive of IMC, commented, “Alhamdolillah, IMCs third quarter performance is indeed very encouraging. The overwhelming response which the new Toyota Hilux Revo Rocco & Toyota Fortuner Legender garnered, added to the already robust demand. However, amidst all this, we have had to grapple with rising input costs attributable to the sharp depreciation of PKR against USD and soaring international commodity prices, and increase in FED rates on vehicles by Government. All these factors, as a consequence, have given no choice to the Company, other than to pass on the burden to our customers.

The new Auto Policy 2021-26 encourages investment in new technologies such as Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Vehicles (P-HEVs) and Battery Electric Vehicles (BEVs) to mitigate climate change and reduce dependency on oil imports. Based on the said incentives, IMC is investing around USD 100 million for local production of Hybrid vehicles in Pakistan. We would urge the Government to devise and promote consistent policies, without frequent policy changes, that encourage sustainability and growth of the country’s burgeoning automobile industry.”

The Board of Directors declared an interim cash dividend of Rs. 26 per share for the quarter, thus making the total dividend for the nine months ended March 31 2022, Rs. 90.5 per share.

(April XX, 2022): Remaining steadfast to its commitment to the Global Goals, Indus Motor Company (IMC) made a Rs.5 million, donation to the Sindh Institute of Urology and Transplantation (SIUT). The company’s, Chief Executive, Ali Asghar Jamali met with the esteemed Dr. Adibul Hasan Rizvi, founder of SIUT, and presented the cheque to him.

SIUT has established itself as Pakistan’s largest kidney disease centre where around 1,700 dialysis treatments are carried out daily. This initiative is yet another effort to lend a helping hand to SIUT and its healthcare system.

Expressing his views, Ali Asghar Jamali reiterated IMC’s long-standing spirit of “Concern Beyond Cars” and giving back to the community and said, “Pakistan’s healthcare system is one of the country’s pressing concerns and hospitals such as the SIUT, are doing a lot of good work helping thousands, especially the less privileged, with quality healthcare for free.

Dr. Adibul Rizvi is one of the most recognized and respected names in the health sector and it is an honour for us to have formed a long-lasting relationship with SIUT, that allows us, as a socially conscious company, to do our part in giving back to our people.”

IMC remains strong in its resolve for the well-being of deserving communities through its diverse, need-based Corporate Social Responsibility Programme implemented in partnership with creditable organizations. IMC is a regular donor to some of the biggest healthcare centres in the country including the JPMC, Shaukat Khanum Memorial Hospital, Indus Hospital, The Kidney Centre, etc.

Indus Motor Company (IMC) won the Corporate Social Responsibility Award for Corporate Community Programs for the year 2022, at the 14th Annual Corporate Social Responsibility Awards ceremony, hosted by the National Forum for Environment & Health (NFEH), at Islamabad. State Minister for Information & Broadcasting, Farrukh Habib, presented the award to IMC’s Saqib Abbas, Regional Manager.

A total of ninety-three companies competed in thirty-five award categories, with eighty-four bagging the awards.
IMCs Chief Executive, Ali Asghar Jamali expressed, “I thank the NFEH for this honour and recognition and laud its efforts for creating public awareness for corporate social consciousness. The corporate world needs such platforms to not only showcase its CSR initiatives but also take inspiration from what others are doing.”

He further said, “We’re morally obliged to come forward and help the less privileged and uplift communities. Like I always say, education is the biggest change maker for Pakistan and our flagship Toyota Goth Education Program is a big step in that direction.”

IMC has been actively engaged in upliftment initiatives for communities neighbouring the company, such as the Toyota Goth Education Program run in tandem with The Citizens Foundation, free food distribution and medical camps in collaboration with Saylani Welfare Trust, free psychiatric camps in partnership with Karwan e Hayat and very recently, the Childhood Blindness Prevention Program run in partnership with Al Ibrahim Eye Hospital. During Ramadan, these communities will also benefit from free food rations.

(March 22, 2022): Indus Motor Company (IMC), aligning itself with the spirit of Toyota’s global corporate initiative, “Start Your Impossible” (SYI), has signed on an emerging mountaineer, Asad Ali Memon as its newest SYI champion.

Asad is a 24-year-old, high potential sportsman from Larkana, Sindh. Since the beginning of his mountaineering career in 2016, he has summitted several peaks both in Pakistan and internationally and made multiple records, which brought Pakistan under the spotlight of international attention. In 2021, he set a world record when he climbed the Kilimanjaro and back in 20 hours.

The Seven Summits Challenge is a mountaineer’s ultimate dream that entails climbing the seven tallest mountains in each of the world’s seven continents. Of these seven peaks, Asad has already conquered three in Europe, South America and Africa.

His next stop is Mount Denali in Alaska, USA, the 3rd most prominent and 3rd most isolated peak on Earth, after Mount Everest. Asad will be the first Asian to scale the impressive 23,000+ feet mountain in May this year. Until then, he will be training for the climb in Sindh, Islamabad and Skardu.

At the tripartite contract signing ceremony with Asad Ali Memon and HANDS, at the Company’s head-quarters at Karachi, IMCs Chief Executive Ali Asghar Jamali expressed, “We believe in fostering opportunities for young people with aspirations and this is a great one to promote extreme sports in Pakistan and creating awareness. It also aligns with Toyota’s SYI and transformational vision, ‘Mobility for All’, for creation of a more inclusive and sustainable society in which everybody can challenge their impossible”.

Voicing his thoughts, Asad Ali Memon said, “I want to thank Indus Motor for making it possible to live my dream to be the first Asian and first ever in Pakistan to achieve the target of climbing the Seven Summits. My ultimate vision is to promote mountaineering as a key sport and help young people train and become professionals in this unexplored extreme sport.”

Earlier in 2018, IMC had supported two national athletes, Saadi Abbas, the Asian Karate Champion from Lyari in Karachi and Zainab Barkat, the star wheelchair Table Tennis Champion from KPK, standing by their side in their journey towards the Olympic Games and Paralympic Games in Tokyo 2020.

Karachi, XX March 2021 IMC added yet another feather in its cap as it received an accolade for its exceptional contribution to the UN Global Goals, bagging the Sustainability Innovation Award at the 11th Annual Corporate Social Responsibility Summit & Awards 2022, organized by The Professionals Network (TPN).

Ninety-eight companies competed in 34 award categories, fifty-four of which won a total of seventy-nine awards. Chief Guest, Muhammad Iqbal Memon, Commissioner Karachi Division presented the award to the company’s CFO, Mohammad Ibadullah. The ceremony hosted by TPN was attended by notables from the corporate sector, NGOs, academia and media.

Chief Executive IMC, Ali Asghar Jamali, sharing his thoughts said, “Over the years, IMC has been the recipient of several awards from The Professionals Network and I would like to thank its management for providing corporates this excellent opportunity to not just showcase their CSR initiatives but also acknowledge their efforts. “

He added, “It is our responsibility, as a socially responsible corporate citizen, to demonstrate responsible corporate conduct and our CSR program Concern Beyond Cars is a testament towards that commitment. The Toyota Environmental Challenge 2050 serves as a guide which aims moving towards a society where people, cars and nature can co-exist in harmony and we’re committed to do our part for achieving a more sustainable society.”

As a signatory to the UN Global Compact, IMC is fully committed to support the UN Decade of Ecosystem Restoration by reducing its environmental footprint.

Karachi, February 24, 2022: The wait leading up to the much-anticipated announcement of the new Toyota 4x4s finally came to an end as Indus Motor Company (IMC) unveiled the 2.8L Turbocharged 1 GD engine Fortuner Legender and Revo Rocco, carrying a price tag (ex-factory) of Rs.10.842 million and Rs.8.472 million, respectively.

Some of the notable new features that make both models second to none in terms of performance and luxury, include the re-designed front radiator grille, front and rear bumpers that give the Legender and Rocco an aggressive and adventurous look, as do the upgrades such as the latest built-in clearance sonar (2 FF, 4 RR) and dual-zone AC.

The new LED sequential headlamps, dual tone black and maroon perforated leather seats and ambient lighting lend the Fortuner Legender a premium feel.

“The Legender and Rocco have gathered a lot of buzz over the past months and I’m confident that these machines will exceed customer expectations with their fresh design, unmatched performance, power and great value for money. The newly added features will surely please the discerning taste and needs of our premium customers and new buyers alike,” expressed Chief Executive IMC, Ali Asghar Jamali.

Further adding, he said, “With Toyota’s built-in QDR, latest technology and features, unique design and Toyota’s stepped traction control for better off-roading feel, the Legender and Rocco are sure to up-hold the brand’s promise of building customers for generations”

(February XX, 2022): The Board of Directors of Indus Motor Company (IMC) met on February 24, 2022 to review, evaluate and announce the company’s financial and operating performance for the half year ended December 31, 2021.

The Company’s net sales turnover for the half year ended on December 31, 2021, increased to Rs.135.18 billion, as compared to Rs. 79.65 billion, for the corresponding period last year, while profit after tax have also increased to Rs. 10.18 billion as against Rs. 4.80 billion, achieved in the same period last year. The net profit for the six months have increased mainly due to higher CKD and CBU volumes and increase in other income due to higher fund size on account of increase in customer advances.

The overall market share of IMC in the overall market stood at approximately 20.4% for the half year ended December 31, 2021. Moreover, the combined sales of Locally produced vehicles and Completely Built-up Units (CBU) of the Company increased by 46.5% to 38,632 units against 26,362 units sold in the same period last year. The first half of the fiscal year has experienced an increase in demand mainly due to economic growth, lower auto financing rates and price reduction of vehicles on account of a reduction in Additional Custom Duty (ACD) and Federal Excise Duty (FED) from July 2021.

In comparison with previous quarter ended September 2021, the quarter ended December 31, 2021 has observed an increase in net sales turnover on account of higher CKD and CBU volumes. Despite higher turnover for the quarter, the profit after tax for the current quarter reduced as compared to previous quarter, mainly due to rising input costs as a consequence of depreciation of PKR against USD, higher commodity prices, rising cost of production, etc.

Chief Executive, IMC, Ali Asghar Jamali expressed, “Alhamdolillah, the first half of the fiscal year has been very good which is very uplifting. Government’s favourable policies and tax measures, critical for a conducive environment to operate in, greatly contributed towards the cascading positive impact on revenues. With the ever-present COVID threat continuing to ease and demand skyrocketing, we’ve been able to meet every challenge head-on, meeting the high expectations our customers’ demand of us.”

He added, “We appreciate Government’s initiative to finalise the new Auto policy with the stakeholders and for maintaining the Hybrid Electric Vehicle incentives. We urge the Government to promote consistent policies for long-term economic growth of the auto sector and provide incentives to local vendors for manufacturing of high tech parts and reduce duties and taxes to support the continued momentum of demand in the auto industry. On the whole, this will generate more taxes for the Government and will also create more employment opportunities.”

The continuing increase in commodity prices, freight charges on imports, currency depreciation, etc. and recent increase in FED by Government, may have a negative impact on the sales volume and profitability of the auto sector in upcoming periods.

The Earnings per Share of the company for half year ended on December 31, 2021 is Rs. 129.45 in comparison to Rs. 61.08 reported in the same period last year. The Board of Directors announced a second interim cash dividend of Rs. 30 per share for the half year ended on December 31, 2021.