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Compare Watch

MTL

HOLD

Millat Tractors Limited

Automobile Assembler · 0.36% of the KSE-100

Price

Rs 106.89

Market cap

Rs 51.1bn

12-month return

-27.7%

Rank

46 of 101

53composite

Rule-based51

ML ranker56

Conviction66

Why the engine ranks it here

Millat Tractors Limited (MTL) screens as fairly valued against the rest of the KSE-100, ranking 46 of 101 on a composite score of 53/100.

Millat Tractors Limited sits in the Automobile Assembler sector and scores best on growth (68/100), weakest on price trend (36/100). At PKR 106.89 the shares trade on a P/E of 4.9x, 0.64x book, a 9.4% dividend yield. The Piotroski F-Score is 7 of 9 (strong) and the Altman Z''-Score is 6.11 (financially sound).

What it does well

MTL grew earnings 500.0% year on year.

Growth

MTL grew revenue -8.0% over the last year.

Growth

MTL has compounded revenue at -23.0% a year over three years.

Growth

What holds it back

MTL is stretched at 0.9x net debt to EBITDA.

Balance-sheet strength

MTL trades -21.4% relative to its 200-day average.

Price trend

MTL has lagged the KSE-100 by -26.8% over six months.

Price trend

What would change this view

→ the price reclaiming its 200-day average on rising volume

Five-pillar breakdown

Each pillar scores the company against sector peers, where 50 is the sector average.

Profitability & earnings quality30% weight51

Valuation25% weight49

Balance-sheet strength20% weight47

Growth15% weight68

Price trend10% weight36

The classic screens

Piotroski tests nine accounting facts about improvement; Altman scores the distance from financial distress.

Piotroski F-Score

7 / 9

strong · 7 of 9 tests passed

Altman Z''-Score

6.11

safe zone · safe above 5.85

Profitable on assets

ROA 4.6%

Cash generative

CFO PKR 20,157m

Returns improving

ROA 4.6% vs -0.2% a year ago

Earnings backed by cash

CFO PKR 20,157m vs profit PKR 10,513m

Deleveraging

debt/assets 0.20 vs 0.19

Liquidity improving

current ratio 1.48 vs 1.37

Margin expanding

gross margin 27.6% vs 15.3%

Assets working harder

asset turnover 1.02x vs 1.05x

No shareholder dilution

478m shares vs 478m

Altman components

Working capital / assets0.104

Retained earnings / assets0.334

Operating profit / assets0.080

Equity / liabilities0.529

Sales / assets1.006

Price history

Weekly closes. Beta 1.08 against the index, annualised volatility 30%, RSI 36.

+881.5% over this window

Reported accounts

The last twelve quarters as filed, in PKR millions. The publication date is what the engine uses to decide when a figure became knowable.

Quarter	Revenue	Gross profit	Operating	Net income	EPS	Filed
2025 Q4	Rs 60.3bn	Rs 13.9bn	Rs 3.7bn	Rs 2.0bn	4.17	2026-04-30
2025 Q3	Rs 59.0bn	Rs 16.4bn	Rs 4.8bn	Rs 2.8bn	5.82	2025-11-14
2025 Q2	Rs 59.9bn	Rs 16.7bn	Rs 4.8bn	Rs 2.8bn	5.93	2025-08-14
2025 Q1	Rs 59.0bn	Rs 14.8bn	Rs 4.1bn	Rs 2.3bn	4.73	2025-05-15
2024 Q4	Rs 53.6bn	Rs 16.1bn	Rs 4.8bn	Rs 2.6bn	5.53	2025-04-30
2024 Q3	Rs 54.2bn	Rs 9.7bn	Rs 2.2bn	Rs 497m	1.04	2024-11-14
2024 Q2	Rs 61.0bn	Rs 10.6bn	Rs 2.3bn	Rs 307m	0.64	2024-08-14
2024 Q1	Rs 66.0bn	Rs 10.2bn	Rs 2.0bn	Rs -48m	-0.10	2024-05-15
2023 Q4	Rs 70.4bn	Rs 8.0bn	Rs 946m	Rs -1.2bn	-2.46	2024-04-29
2023 Q3	Rs 87.7bn	Rs 9.7bn	Rs 1.1bn	Rs -1.1bn	-2.28	2023-11-14
2023 Q2	Rs 106.8bn	Rs 18.7bn	Rs 4.1bn	Rs 1.3bn	2.81	2023-08-14
2023 Q1	Rs 117.7bn	Rs 17.4bn	Rs 3.2bn	Rs 887m	1.86	2023-05-15

Ranked against Automobile Assembler

Every peer in the same sector, ordered by composite score. These are the companies whose ratios set this one's z-scores.

AGTLAl-Ghazi Tractors Limited5.2x61

GHNIGhandhara Industries8.5x56

ATLHAtlas Honda Limited1.3x53

MTLMillat Tractors Limited4.9x53

INDUIndus Motor Company1.5x43

HCARHonda Atlas Cars Pakistan9.1x38

PSMCPak Suzuki Motor Company13.7x33

Scored as of 31 December 2025. Generated by an automated screen for research and educational use. Not investment advice, and not a substitute for a SECP-licensed adviser.