Atlas Battery Limited Discloses Six-Year Financial Overview at Corporate Briefing

Karachi: At the Corporate Briefing Session held on October 21, 2024, Atlas Battery Limited unveiled a comprehensive review of its financial performance over the past six years, ending June 30, 2024. The session, aimed at stakeholders and analysts, detailed key financial metrics and strategic developments within the company.

Atlas Battery, a major player in the automotive, motorcycle, and energy storage battery markets, reported a total asset growth to 23.32 billion PKR in 2024 from 19.91 billion PKR in 2023, marking a 17.1% increase year-over-year. Significant growth was also noted in its stock-in-trade, which soared to 11.91 billion PKR from 10.32 billion PKR in the previous year. This substantial rise reflects Atlas Battery’s expanding operational capacity and market reach, which align with its strategic initiatives to lead in a competitive sector.

According to information available from the Pakistan Stock Exchange (PSX), the company’s gross profit for 2024 stood at 5.94 billion PKR, a slight decrease from 6.45 billion PKR in 2023, attributed to an increase in the cost of sales which tallied at 35.54 billion PKR. Despite higher costs, Atlas Battery’s proactive management strategies, including efficient procurement and decisive cost-cutting measures, have allowed it to maintain a robust financial footing.

Profit after tax for the year 2024 was recorded at 1.34 billion PKR, down from 2.20 billion PKR in 2023. This decline in profitability is paralleled by a rise in finance costs, which spiked to 1.62 billion PKR from 552 million PKR, reflecting broader economic pressures and increased borrowing costs.

Strategically, Atlas Battery continues to innovate, launching new battery models in 2024, including the MF 100 L and MF DIN 65 for automotive applications, and the Power Plus 7 for motorcycles. These products aim to solidify Atlas Battery’s market leadership and respond to evolving consumer demands in energy storage solutions.

The briefing also highlighted the company’s commitment to sustainability and efficiency, with significant investment in environmentally compliant manufacturing facilities. These initiatives are designed to not only enhance production capabilities but also to create barriers to entry for competitors, positioning Atlas Battery at the forefront of the industry.

Atlas Battery’s performance and strategic direction indicate a strong foundation for future growth, despite current financial headwinds. Stakeholders were reassured of the company’s resilience and its ability to navigate market challenges with innovative products and strategic market positioning.