Karachi, April 08, 2021: IMC becomes Pakistan’s first company to install one of the largest rooftop mounted solar Photovoltaic (PV) plant and biggest Solar PV plant in the automobile industry in Pakistan. It is also the first such unit in the Toyota Asia-Pacific region.

The new Solar PV Plant was inaugurated by the company’s Chairman, Mohamedali R Habib, the new Vice Chairman, Shinji Yanagi and CEO, Ali Jamali.

Alarmingly, the carbon footprint of the country has witnessed drastic increase over the past decade, increasing from 154 million tonnes to 248 million tonnes in 2019. To advocate sustainability, the government is committed to reduce the environmental impact by 2025.

The Solar PV Plant has more than 10k PV panels that have a capacity of 4.5 MWp rating. The unit is expected to reduce the factory’s carbon footprint by more than 3,000 tons annually and considerably reducing energy cost.

Sharing his thoughts on the occasion, CEO IMC, Ali Asghar Jamali, said “The world is moving towards renewable energy and Pakistan must move fast to reduce the growing impact on environment. This Solar PV Plant offers us the opportunity to make effective cost savings and will take us towards partial self-sufficiency in energy supply. We have plans to further enhance the solar capacity by an additional 1.3 MWp rating, in the near future.”

Further, he added, “Based on the global Toyota Environmental Challenge 2050, we aim to work 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”.

Indus Motor achieved yet another milestone, celebrating the highest ever production and sales volumes, historically in the month of March 2021. Following ease in the COVID-19 lockdown, economic activities began to normalize and the automobile industry experienced an increase in demand. Consumer purchasing power was revitalized, and a reduction in interest rates led to increase in auto financing, which contributed to demand increase. This has required local automotive companies to vigorously manage their manufacturing operations to overcome problems in inbound international logistics operations.

CEO IMC, Ali Asghar Jamali, stated, “We are overjoyed and thank the Almighty for this remarkable achievement. IMC has remained focused on improving its operational efficiencies, maintaining high quality standards, effectively managing cost pressures and delivering maximum value to its customers. We have been operating on double shifts basis, all Saturdays as well as working extended hours. These measures have been taken with the view to increase supply and timely meet our delivery commitments, while strictly following the SOPs put in place by the authorities.

I would like to acknowledge the tremendous and dedicated efforts of my entire team at IMC, our extended family of Dealers and vendors and of course our business partners for making this possible.”

He further added, “The economic upturn following the despair soaring over the auto industry during the COVID-19, owes itself to the Government’s introduction of favourable policies. Reduction in interest rates has been a major factor that led to an increase in auto financing, bolstering consumer confidence.”

“IMC has, and always will be devoted to Pakistani market and to our customers whose interest and belief in our products is rapidly increasing every year. It is because of the support of our loyal customers and their trust in us that IMC is working diligently to provide them with the best even during the times of global pandemic. We look forward towards the continued support as we move ahead and would like to appreciate them for their continued loyalty towards our products and services.”

IMC is the constant promoter of “Make in Pakistan” and has a very strong commitment towards localisation. Locally produced parts worth over Rs.200 million are used by IMC every day with purchases amounting to over Rs.45 billion annually. IMC has enabled over 30 Technical Assistance Agreements with local as well as global auto part makers which have resulted in technology and knowledge transfer to Pakistan.

Karachi, March 31, 2021: Indus Motor Company (IMC) won the top position at ‘Living the Global Compact Best Practices Sustainability Awards 2020’ hosted by the UN Global Compact Network Pakistan. This is the sixth year in a row that IMC has won this award in recognition of its integrating the 10 Principles of United Nations Global Compact and for embracing the UN Sustainable Development Goals in its business operations.

The objective of the Global Compact Network Pakistan is to promote the ten principles of UN Global Compact on human rights, labour, environment and anti-corruption and assist companies and other stakeholders to engage in strategic CSR initiatives and programs. So far over 80 business enterprises are on board with the network.

“We’re privileged to have been honoured with this top award. It not only acknowledges IMC’s commitment towards strategic and sustainable CSR, but also appreciates its efforts in reporting globally the practical implementation of all the SDGs through its various CSR projects. The Global Compact Network Pakistan is playing a critical role in creating awareness and helping to develop the social outlook of businesses in the country which is commendable”, said CEO Indus Motor, Ali Asghar Jamali.

Further, he added, “The Toyota Environmental Challenge 2050 too, aims at 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”.

IMC is a signatory to the UN Global Compact and the diversity of its CSR initiatives are aligned with the SDGs including SDG 8 – Decent Work and Economic Growth, for which the Pakistan Business Council has declared IMC as the Industry Leader; SDG 4 – Quality Education through its flagship Toyota Goth Education Program and Toyota Technical Training Program; SDG 3 – Good Health and Well-being and SDG 7 – Zero Hunger both through collaboration with Saylani International Welfare Trust; SDG 13 – Climate Action through the Company’s Million Tree Plantation Drive and 5S Ecological Conservation both in collaboration with the United Nations Association of Pakistan.

Karachi, March 27, 2021: For the third consecutive year, Indus Motor Company (IMC) won the 13th Corporate Social Responsibility Award 2021 conferred by the National Forum for Environment & Health (NFEH) in recognition of its initiatives in the Corporate Social Responsibility sector. The award was presented by Minister Information, Science & Technology, Department of Sindh, Mr Taimur Talpur, at a ceremony at Karachi.

The NFEH annual CSR Award is one of the coveted awards in the country. NFEH is affiliated with the United Nations Environmental Program and supported by the Ministry of Climate Change, Government of Pakistan.

Speaking on the occasion, the Chief Executive Officer of IMC, Mr. Ali Asghar Jamali said, “It is an honour receiving this accolade and I take this opportunity to appreciate the NFEH for its commendable efforts. It is encouraging to see that more and more companies in Pakistan are coming forward and actively contributing socially, environmentally and economically and the NFEH provides just the platform to showcase their CSR initiatives.”

IMC recently received four awards at the 10th Annual International Corporate Social Responsibility Summit and Awards 2021.

Hub, Baluchistan – 14th March 2021: The 8th Toyota Hub Rally culminated here amidst huge fanfare after an exhilarating, adventure filled two days. Organised yearly under the Toyota Gazoo Racing umbrella, the Hub rally was sponsored by Indus Motor Company (IMC) in collaboration with the company’s dealer, Toyota Highway Motors. The event included the country’s renowned motorsports celebrities participating in the race, including women racers, who displayed their driving prowess to the tee.

Also at the event, the “Fast Fun Fest” organized by IMC was another crowd puller where motor enthusiasts got the opportunity to explore and unleash the adventure spirit of the Toyota Hilux Revo and Fortuner. Participants had a chance to enter a competition which required completing the track in minimum time.

The Rally route extended as far as the Gaddani coast where a 50 km track was prepared to excite off-roading aficionados. The total winning purse this time was more than Rs 2 million, doubled compared to 2020.

Commenting on the event, CEO IMC, Ali Asghar Jamali, said “First of all my congratulations to all the winners. I think everyone on the track did a wonderful job. Motorsports in Pakistan is a trend fast picking up pace. The thrill and the adrenalin rush the sport generates, is unmatched. At Toyota we call it the ‘waku-doki’ experience. I am happy to see that the turn out this year has been great, a welcome respite in the COVID-19 era”.

He added, “Toyota Gazoo Racing embodies Toyota’s commitment to overcoming every limit to make “ever-better” cars. The diversity of 4x4s, predominantly locally manufactured Toyotas, racing the tracks has been a visual spectacle. Over the years, the Rally has garnered considerable attention as more female rally drivers, sports stars, and celebrities joined the event. It was a proud moment to see that the women racers also participated with full enthusiasm and did really well.”

The introduction of motorsports in Pakistan has injected a new wave of excitement for rally drivers. Towards this end, the contributions of Shujaat Sherwani, CEO, Toyota Highway Motors, for the sport’s promotion are invaluable. His vision of the ‘Hub Rally’ concept has been key in the sport gaining popularity across the country at a rapid pace. IMC recently also sponsored the Cholistan Rally.

Karachi, March 11, 2021: Indus Motor Company (IMC) served as the official Women Leaders’ Partner in the annual youth leadership conference, Markhor, held between March 5 and 7 at Khanpur Dam, Haripur.

Organized by The Youth Impact (a non-profit organization), the Markhor is a wilderness based experiential learning program that aims to bring high potential youth of Pakistan together and inculcate a spirit of social leadership amongst them.

Of the total ten students sponsored, eight were from IMC’s flagship Toyota Goth Education Program (T-GEP) whilst two hailed from Quetta. The recipients of the scholarships are to serve as brand ambassadors and selected purely on merit and need basis.

CEO IMC, Ali Asghar Jamali, who attended the conference as a keynote speaker, said, “Our young people are the beacons who will lead Pakistan into the future. As a supporter for SDG 4 – Quality Education, we believe in an inclusive and equitable quality education for all. It is always our endeavour to support women empowerment and leadership and the Markhor is just the platform that provides the opportunity to a young diverse audience. As change catalysts, I am confident that they will become our advocates who will motivate other students as well and give back to society.”

The Company instituted the Toyota Goth Education Program (T-GEP) in 2008 under its Community Uplift Initiative to provide full financial support for elementary and higher secondary school education to children from economically underprivileged communities of neighboring localities where IMC operates.

Karachi, Mar. 3, 2021: To further its Million Tree Plantation Program, Indus Motor Company (IMC), has signed a Memorandum of Understanding (MoU) with the United Nations Association of Pakistan (UNAP). The MoU was signed at IMC headquarters, by the Company’s CEO, Ali Asghar Jamali and President UNAP, Moohi Shaheen.

Under the partnership, UNAP will undertake to plant over 150,000 tree saplings in Karachi and surrounding areas.

Expressing his views, Mr. Ali Asghar Jamali, CEO IMC, said “Deforestation is becoming a serious concern for Pakistan. What is needed is a fast, equally serious and collective endeavour to overcome this predicament and our collaboration with UNAP for the Million Tree Plantation Program aims to do just that. As a signatory to the United Nations Global Compact (UNGC), we are committed to support the SDGs and our social responsibility initiatives are aligned accordingly, in addition to the Toyota Environmental Challenge 2050.”

UNAP is dedicated to promoting the UN’s development agenda outlined in its 17 Sustainable Development Goals (SDGs). By signing the MoU with IMC, UNAP aims to broaden its span of activities regarding SDG 13 and 15 (climate action, life on land). At the same time, it will be promoting the concept behind SDG 17 (partnership for goals), which asks for all-inclusive and collective efforts for achievement of the SDGs.

Karachi – 26th February 2020: The Board of Directors of Indus Motor Company (IMC) released its financial results for the half-year ended December 31, 2020.

IMC’s combined sales of Completely Knocked Down (CKD) and Completely Built-up Units (CBU) units increased by 82% to 26,362 units against 14,453 units sold in the same period last year. The Company produced 26,383 vehicles, registering an 81 % increase, as compared to 14,555 units produced in the same period last year. IMC’s market share in the overall market stood at approximately 24.7% for the half year ended December 31, 2020.

The Company’s net sales turnover for the half year ended December 31, 2020, increased to Rs. 79.65 billion as compared to Rs. 42.78 billion, for the same period last year, while profit after tax increased to Rs. 4.8 billion as against Rs. 2.3 billion achieved in the same period last year.

The increase in turnover and profitability for the half-year period was mainly owing to higher CKD and CBU volumes, and increased other income due to improved cash flows. However, cost increases mainly due to Rupee devaluation eroded the gross profit margin to 7.55% against 8.81% in same period last year.

The Company experienced an overwhelming response to Toyota Yaris in the first, as well as second quarter of fiscal year 2020-21 which contributed to volume increase in Passenger Car segment. Moreover, Fortuner TRD variant was launched in October 2020 which too was well received by customers.

The Auto policy introduced in 2016 will end by June 2021. The policy enabled green field investments in the auto industry to reach the 500,000 units of annual production capacity, with multiple brands and product offerings. Consumer purchasing power was revitalized, and a reduction in interest rates led to an increase in auto financing, which contributed to demand in the first half of FY 20-21.

The Earnings Per Share of the Company for half year ended December 31, 2020 stood at Rs.61.08 as compared to Rs. 29.32 reported during the same period last year. The Board of Directors with pleasure, have declared second interim cash dividend of Rs. 25 per share for the half year ended December 31, 2020, compared to Rs. 6 per share, for the same period last year.

Expressing his views, CEO IMC, Ali Asghar Jamali, stated, “Overall, the automobile industry is clearly bouncing back. The economic upturn following the gloom and despair hovering over the auto industry during the COVID-19 lockdown, owes itself to the Government’s timely decision to ease the lockdown and introduction of favourable policies. Reduction in interest rates has been another factor that led to an increase in auto financing, bolstering consumer confidence.”

He further added, “We thank our valued customers who have always placed their trust in our products, as well as all our employees, stakeholders and shareholders for their sustained support.”

During the period, the Company received accolades, winning the “Most Outstanding Company in Pakistan 2020 (Automobiles and Component Sector)” awarded by Asiamoney, and the “Best Sustainability Report Award 2019” conferred by the Joint Committee of Institute of Chartered Accountants of Pakistan and Institute of Cost and Management Accountants of Pakistan.

Karachi, Feb.18, 2021: Indus Motor Company (IMC) has introduced the Toyota Smart Purchase portal that allows customers the experience of making an on-line purchase from the company’s diverse product line up, sans a dealership visit.

The Toyota Smart Purchase is the first ever end-to end on-line booking and payment system introduced by any automobile company in Pakistan. It promises customers unmatched convenience at their doorstep anytime, anywhere.

CEO IMC, Ali Asghar Jamali sharing his thoughts observed, “The one-stop Toyota Smart Purchase promises to take shopping to a whole new level. Customers now have the luxury of shopping for their favourite Toyota from the safety and comfort of their homes or workplaces, placing their order in four easy steps.”

He further added, “Keeping customers convenience foremost, is fundamental to Toyota’s Customer First principle. The COVID-19 outbreak has completely altered the way we think and creating the new normal through kaizen and smart use of technology is the need of the hour.”

IMC has received several customer orders both with partial and full payment. The public response to the new digital platform has been encouraging and expected to catch on further.

Karachi, February 8, 2021: Indus Motor Company (IMC) has been recognized by The Professionals Network (TPN), Pakistan for its exceptional contribution towards social development, bagging awards in four categories at the 10th Annual International Corporate Social Responsibility Summit and Awards 2021. The awards were presented by President, Karachi Chamber of Commerce and Industry, Mr Shariq Vohra. The award ceremony hosted by TPN was attended by prominent personalities belonging to the corporate sector, government organizations, NGOs, academia and media.

Over 100 companies competed in 25 award categories, 51 of which won the coveted awards. IMC led categories for “Sustainability Initiatives”, “Business Leadership”, “Reporting & Transparency” and “Green Environmental Stewardship”. The award is the first and only CSR Award platform in Pakistan registered as an Intellectual Property Organization (IPO) with the Government.

Sharing his thoughts on the occasion, CEO Indus Motor Company, Ali Asghar Jamali said “It is an honor and a privilege to be conferred with these prestigious awards. I congratulate The Professionals Network’s management for its commendable effort and providing corporates the platform to showcase their CSR initiatives”.

Further, he added, “Being socially responsible, IMC takes CSR as an obligation to society which extends beyond economic and legal duties. Our activities, contributions and impacts are aligned with the United Nations SDGs that help us create a better environment, products and socially uplift the communities where we operate”.

The company has been focused on working simultaneously on various SDGs including SDG 8 – Decent Work and Economic Growth, the Pakistan Business Council having declared IMC as the Industry Leader; SDG 4 – Quality Education through its flagship Toyota Goth Education Program and Toyota Technical Training Program; SDG 3 – Good Health and Well-being and SDG 7 – Zero Hunger both through collaboration with Saylani Welfare Trust; SDG 13 – Climate Action through the Company’s Million Tree Plantation Drive and 5S Ecological Conservation both in collaboration with the United Nations Association of Pakistan.

Karachi 28 Jan 2021: Indus Motor Company (IMC) has signed a MoU with The Citizens Foundation (TCF), renewing its pledge, for the 13th running year, to provide quality education from grass root level to the country’s less privileged children.

This collaboration will entail managing the Company’s flagship Toyota Goth Education Program (T-GEP) through TCF schools as well as TCF campuses built and supported by IMC in multiple cities.

The T-GEP was initiated in 2008 under IMC’s Neighbouring Community Uplift Program for out-of-school children living in ‘goths’ (villages) neighbouring IMC, providing full financial support for elementary and secondary school education. There are currently over 250 students enrolled under the program. In addition to this, around 1,100 students are currently studying at three IMC built and supported, TCF campuses located at Karachi, Hyderabad and Muzzafargarh.

Speaking on the collaboration, CEO Indus Motor Company, Ali Asghar Jamali observed, “Pakistan has the world’s second-highest number of out-of-school children aged between 5-16 years. IMC is committed to play its role in making a difference by supporting to educate the less privileged children of our country. Our continued collaboration with The Citizens Foundation in furthering this cause is a testament to that promise.”

He further added, ‘Every child has a right to education and girls have the same right to education as boys. I am proud to say that 48 percent of total students enrolled with T-GEP and at the three schools, are girls. Clearly, there is a shift in parents being more receptive today to educating their daughters which is very encouraging. Educating girls saves lives and builds stronger families, communities and economies.”

IMC as a signatory to the UNs Sustainable Development Goals, supports SDG 4 – Quality Education, which focuses on inclusive and equitable quality education and promotes lifelong opportunities for all.

Karachi: The Centre of Excellence in Responsible Business (CERB) – an outreach initiative of the Pakistan Business Council (PBC) – in collaboration with Indus Motor Company (IMC) recently organised a webinar in celebration of National Working Women’s Day. The webinar which focused on UN’s SDG – 8 (Decent Work and Economic Growth), acknowledged the important role women in Pakistan have played in the country’s socio-economic development. IMC has been identified as the industry leader for SDG – 8 by the PBC under its CERB Leadership Program.

The panelists included Ms. Anam Fatima Khan from IMC, Ms. Neelofar Hameed from HBL and Ms. Maliha Hussain from Mehergarh who shared their experiences and best practices with regards to ‘decent work’ in their respective organisations. This included discussion on workplace stability and security, safe work environment (free from harassment, occupational and COVID safety), work and family life balance, equal opportunities and treatment and facilitation of female employees.

Ms. Anam Fatima Khan highlighted that as a leader in the manufacturing sector, IMC has maintained a strong commitment to the creation of a decent and safe workplace for all its employees. This has, amongst other things, allowed IMC to become the first and only Auto manufacturer (OEM) to employ and retain talented women on its assembly production line; and to maintain a strong representation of women with in senior management, with 9 percent of such roles being held by women.

CEO Indus Motor Company, Ali Asghar Jamali in his closing remarks observed, ”With 49 percent of the country’s total population comprising of women, Pakistan has witnessed constant growth of women participation in the workforce. It is important to consistently set the tone through top management for women empowerment and ensure that appropriate policies, procedures and systems are in place at the Company, so that women feel comfortable working at IMC at all times.”

Karachi: Indus Motor Company (IMC) recently inaugurated Toyota Port Qasim Motors at Karachi, making it the 12th dealership in Karachi and 17th in the Southern region. Present were IMC Chairman Mohamedali R.Habib, Vice Chairman Yuji Takarada and CEO Ali Asghar Jamali who unveiled the dealership amidst tight COVID-19 SOPs.

The new state-of-the-art 3S facility located at Port Qasim Authority is designed to offer customers a premium Toyota shopping experience in a refreshingly chic ambiance. The dealership sales and aftersales staff and technicians are trained to provide high quality service to customers, all under one roof.

CEO IMC, Ali Asghar Jamali, said on the occasion, “Toyota is a brand loved by our people. IMC’s philosophy is expanding outreach to all corners of the country for our customers’ ease and convenience. The addition of this 49th dealership to the network is a testament to that commitment.”

He further added, “Based on Toyota’s cornerstone principle of Customer First and QDR (Quality, Dependability and Reliability) which is synonymous with the brand, IMC aims to provide innovative, safe, and high-quality products and services through its widening dealership network, meeting the high expectations demanded by Toyota customers.”

The location of the dealership has been selected strategically at Port Qasim, an industrial hub of the city and will cater to all adjoining areas.

Dec 7, Karachi: Indus Motor Company (IMC) recently signed a Memorandum of Understanding (MoU) with the United Nations Association of Pakistan (UNAP) for Toyota 5S Ecological Conservation Program. The MoU was signed electronically by IMC CEO, Ali Asghar Jamali and UNAP President, Moohi Shaheen.

Under the terms of the MoU, UNAP will train around 50,000 students across the country, with the objective of creating awareness on the importance of environmental protection through Toyota’s world renowned 5S Philosophy. Owing to the COVID-19 outbreak, to ensure safety of all concerned, the sessions will be held online through webinars.

The 5S methodology is a workplace organization method and systematic form of visual management that increases productivity, efficiency, safety and organization of one’s immediate environment. It refers to five Japanese terms used to describe the steps of the 5S system of visual management, each term starting with an ‘S’ i.e. Seiri, Seiton, Seiso, Seiketsu, and Shitsuke, translated to English as Sort, Set in Order, Shine, Standardize, and Sustain, respectively.

“5S is simply a mindset”, said CEO IMC, Ali Asghar Jamali. “At IMC we have a robust 5S culture in place that has gradually spread to our Dealer network. The goal of this program is to educate children and young adults on environmental conservation and help develop this mental attitude. To drive this program, we have chosen to collaborate with UNAP who have the know-how and the required outreach to schools and universities nationwide.”

He added, “IMC has always aimed at demonstrating a responsible corporate conduct throughout the entire spectrum of its activities and operations – from providing high quality and safe products, to voluntary support of a broad range of social activities. As a signatory to the United Nations Global Compact, our initiatives are aligned with the Sustainable Development Goals (SDGs), mainly focused towards Quality Education (SDG 4), Climate Action (SDG 13), Good Health & Well-Being (SDG 3), to name a few. ”

Karachi: Indus Motor Company (IMC) has realized a 12-year old dream via its Toyota – Goth Education Program (T-GEP) with its first batch of students from the under-privileged neighboring localities.

The Company instituted the Toyota – Goth Education Program in 2008 under its 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. To this end, IMC has partnered with The Citizens Foundation (TCF) for imparting quality education from grassroot level.

The Program has gradually expanded its area of operation and has resulted in not only improving the living standard and way of thinking but also helped in reducing the long tradition of early marriage of girls in the neighboring communities.

“Through our notable contributions in education, IMC as a signatory to the UNs Sustainable Development Goals, supports SDG 4 – Quality Education, which focuses on inclusive and equitable quality education and promotes lifelong opportunities for all, explains Ali Asghar Jamali, CEO – IMC.

He further added, “Our first batch of T-GEP consisted of two boys, who have completed their Intermediate and having shown interest in building their career through IMC`s flagship Apprenticeship Program, I am happy that they have joined the Company. The girl, meanwhile, has plans to pursue her graduation.” The CEO also met the two boys and congratulated them.

Currently, Pakistan has the world’s second-highest number of out-of-school children with an estimated 22.8 million children aged 5-16 not attending school, representing 44 per cent of the total population in this age group, according to a UNICEF report.

Indus Motor Company (IMC) is geared up to introduce a fresh look to its flagship Toyota Corolla, the Corolla X Package, expected to roll out in January.

Despite being the most competitive vehicle locally produced, Corolla offers top of the line performance and safety features.

Whilst Pakistani consumers today have many available choices, Toyota Corolla has stood the test of times, its wide popularity owed to the brand’s promise of quality, durability and reliability and high resale value.

The new Corolla X Package, 2021 model has aggressive styling, appealing to a large audience. Available in Altis 1.6 and 1.8 variants, the new model sports an all-black interior along with passenger seat belt warning, EC mirror and an appealing cosmetic body kit change. IMC is expected to shortly commence booking and unveil the new price simultaneously.

It is pertinent to mention here that around 40% of the OEM RSP comprises of Government duties and taxes i.e. 30% Customs Duty, 7% ACD, 17% GST, 7.5% FED and WHT upto Rs.150k.

No doubt Toyota is Pakistan’s most loved automobile brand with Corolla enjoying the top slot in terms of sales volume with close 750,000 units sold todate. It has been the No. 1 selling car in the Asia-Pacific region and the 4th highest selling car in the world for many years.

Karachi, Nov 12: CEO Engineering Development Board (EDB) Pakistan, Raza Abbas Shah visited Indus Motor Company (IMC) and lauded the Company’s role in enhancing the engineering base in Pakistan.

The CEO was accompanied by GM EDB Asim Ayaz and other members.

The delegation visited different sections of the plant and briefed on the aspects of manufacturing, quality, safety and capital investment made to upgrade the facility and the level of localization achieved.

The management of IMC briefed the delegation on the Company’s commitment towards “Make in Pakistan” that has materialized through more than 45 Technical Assistance Agreements leading to technology transfer and paving way for exports.

The management also briefed the guests that the largest tax manufacturing industry of Pakistan is the highest tax contributor that can help achieve the government in its macro-economic targets of employment generation, GDP growth and exports.

“We need support from the government and its departments like EDB in the form of transparent, predictable and consistent policies as these are prerequisite for industrialization and economic growth,” said Chief Executive IMC Ali Asghar Jamali.

CEO EDB appreciated the measures taken by IMC to ensure safety around the plant against the spread of Covid-19 pandemic evident by the strict SOPs in place.

Karachi: The Board of Directors of Indus Motor Company (IMC) released its financial results for the first quarter ended September 30, 2020.

The Company’s combined sales of Complete Knocked Down (CKD) and Complete Built-up (CBU) units for the quarter increased by 73% to 11,809 units against 6,839 units sold in the same period last year. The market share of IMC in the overall market stood at approximately 27% for the first quarter.

The Company’s net sales turnover for the quarter increased by 65% to 34.19 billion compared to Rs. 20.72 billion, for the same period last year; while profit after tax increased by 40% to Rs. 1.85 billion against Rs. 1.32 billion achieved in the same period last year.

The increase in turnover and profitability for the three-month period was mainly due to higher CKD and CBU volumes, and increased other income due to improved cash flows, however, due to the depreciation of Pak Rupee and absorption of costs, the gross margin of the company reduced to 6.7% against 9.7% in same period last year.

The overwhelming response received for Toyota Yaris has also led to volume increase. The Company opened booking for the Toyota Corolla 1.6 Manual Transmission vehicle, considering the customer demand, and is consistent with IMC’s policy of providing customers with more options and features.

The Earnings per Share of the company stood at Rs. 23.48 as compared to Rs. 16.78 reported during the same time last year in September, 2019. The Board of Directors is pleased to declare first interim cash dividend of Rs. 12 per share for the first quarter as compared to Rs. 7 per share, for the same period last year.

Expressing his views, CEO IMC, Ali Asghar Jamali, stated, “We would like to appreciate our customers for their continued loyalty towards our products as well as acknowledging the tremendous and dedicated efforts of our staff, vendors, dealers, business partners and the entire Indus team during these challenging times.” He further added, “We look forward towards the continued support of our staunch customers as we move ahead with an expectation of the revival of economic activities and improved business activities in coming months.”

In the Extra Ordinary General Meeting of Indus Motor Company Limited held on October 28, 2020, the existing Directors of the Company were re-elected as Directors and subsequently, in the Board of Directors meeting held on same day, Mr. Mohamedali R. Habib and Mr. Yuji Takarada re-elected as Chairman and Vice Chairman, respectively, and Mr. Ali Asghar Jamali re-appointed as Chief Executive, of the Company, for a term of three years commencing from October 31, 2020.

IMC remains committed to the ‘Customer First’ philosophy that demands a high level of contribution, dedication and efficiency from all levels in the Company, to ensure maximum customer satisfaction throughout the supply chain. This is the cornerstone of the ‘Toyota Way’ and critical for the long-term success of the Company.

Karachi: Indus Motor Company (IMC) has published its 5th Sustainability Report for the financial year 2019-20. It has been developed according to the Global Reporting Initiative (GRI) Standards, a widely recognized framework for sustainability reporting. The report highlights IMC’s contribution to different Sustainable Development Goals (SDGs) addressing the global challenges which we face today.

The report also states IMC’s contribution to the 10 principles of the United Nations Global Compact (UNGC), including the Company’s notable support to SDG-4 “Quality Education” which focuses on equitable quality education and lifelong learning opportunities for all.

Moreover, IMC’s exceptional performance to meet the targets of SDG-8 has led Pakistan Business Council to nominate IMC as the leader for SDG-8 which aims towards sustainable economic growth and decent working conditions.

IMC has also been striving to reduce the environmental burden attributed to automobiles while developing measures towards a cleaner environment. The company has aligned initiatives to address the environmental challenges defined under Toyota Environmental Challenge 2050 which include rising CO2 emissions, lack of recycling based systems and increasing water discharge management.

Expressing his views, Ali Asghar Jamali, CEO, IMC said, “We continue enriching lives of our communities through support in education and healthcare, promoting innovation and cleanliness. We fully support workforce volunteering and making a meaningful contribution towards society.”

He further stated, “Being a responsible automobile Company, we are committed to reducing environmental impact of our operations and supply chain partners through efficient management and adoption of cleaner technologies. We are aligned with the Toyota Environmental Challenge 2050 which strives to reduce the environmental burden attributed to automobiles as close to zero as possible.”

Indus Motor Company will keep delivering sustainable growth by following the 10 Principles of the United Nations Global Compact (UNGC) and Sustainable Development Goals.

Karachi: Indus Motor Company (IMC) has been honored once again as the Most Outstanding Company in Pakistan in the category of Automobile & Components during the year 2020 for the third successive year by Asiamoney, a leading business publication.

Asiamoney, a specialized business publication with the Euromoney Group, traditionally holds a competition among Asian institutions. The award established by the business publication is one of the most revered awards in the region.

Sharing his thoughts, Chief Executive Officer, IMC, Ali Asghar Jamali, stated, “We are grateful to be recognized again by one of the influential business publications in the world. This is an affirmation of our continued commitment and our dedicated efforts that have earned IMC this honor.” He further added, “This accolade has further strengthened our resolve to uphold higher standards of excellence which are expected from us as being one of the leading automobile manufacturers in the country.”

IMC garnered the most votes in Pakistan, exhibiting the worthiness of its recognition amongst leading publically listed companies across Asia in their industry sectors due to their financial performance, management team excellence, concise and coherent strategy, IR activities and CSR initiatives.