Karachi, Jan 22, 2026 – Sazgar Engineering Works Limited (PSX: SAZEW) has officially opened bookings for the TANK 500 SUV, marking a strategic move into Pakistan’s fast-growing premium SUV market.
The launch positions SAZEW to capitalize on rising demand for hybrid and plug-in hybrid SUVs while strengthening its earnings outlook and stock performance.
The TANK 500, offered in PHEV and HEV variants at PKR 22.5 million and PKR 20.5 million, combines luxury, advanced hybrid technology, and off-road capability. Analysts at Arif Habib Limited highlight that the SUV launch not only diversifies SAZEW’s product portfolio but also provides a meaningful EPS boost.
Pakistan’s SUV market has surged in recent years, now representing 18% of total auto sales in CY25, and nearly 28–30% when including non-PAMA players—up sharply from just 9% in CY21. The TANK 500 competes with established models like Toyota Land Cruiser Prado and Fortuner, offering a hybrid-enabled, value-for-money alternative.
Analysts project 200 units delivered in 4QFY26, translating to an incremental PKR 5.3/share. Scaling deliveries to 700 units in FY27 could add PKR 17.59/share, while the anticipated launch of the Cannon Alpha 4×4 PHEV could further boost earnings. If 1,000 units are delivered in 4QFY26, EPS may rise by PKR 19.54/share; FY27 deliveries of 4,200 units could contribute PKR 81.78/share.
Factoring these launches, SAZEW’s EPS projections stand at PKR 330.17/share for FY26, PKR 348.9/share for FY27, and PKR 400.9/share for FY28, with healthy dividends of PKR 67.5/share in FY26 and PKR 71.5/share in FY27.
With a growing hybrid SUV portfolio, increased exposure to high-growth vehicle segments, and strong global credibility, analysts maintain a BUY rating on SAZEW, targeting PKR 2,566/share by Dec’26, signaling a 31% upside for investors.