Government should reconsider & withdraw super tax: SM Muneer

Patron-in-Chief of Korangi Association of Trade and Industry (KATI) SM Muneer and President Salman Aslam have demanded the withdrawal of a 10 percent super tax on 13 sectors by the government. They said that with this government move, economic activities are declining with each passing day.… Continue

Share:

GATM to install 20MW solar plant by FY23

Gul Ahmed Textile Mills Limited (GATM) announced that the IPO of IDEAS (subsidiary of GATM) will be done once the environment is conducive and the company can draw better valuations.

The management held it analyst-briefing session today to discuss recent financial result and future prospects.… Continue

Share:

Pakistan Textiles Industry saw sustainable growth in export during May 2022

Pakistan Textiles Industry saw sustainable growth in export during May 2022 despite issues in production. The textile exports continue to grow sharply, rising by 55% Y0Y to US$1.6bn, sustaining above the US$1.5bn levels since October 2021, according to a report by Topline Pakistan Research.… Continue

Share:

The textiles industry fears the balance of payments crisis to worsen

Textiles is the only sector that continues to grow and bring foreign exchange to the country, gearing up to close at $20 billion in June 2022 compared to $15.4 billion in June 2021. The sector has charted a remarkable performance in the past year.… Continue

Share:

APTMA urges the government to continue with the regionally competitive energy tariffs

Exports of textiles and apparel increased by 23% year on year to $15.4 billion in 2020-21, up from $12.5 billion in 2019-20. Textile exports grew by 26% in the first 10 months of this fiscal year, from $ 12.7 billion to $ 16 billion.… Continue

Share:

Pakistan Textile Exports at US$16bn in 10MFY22, up 26% YoY

As per the Pakistan Bureau of Statistics (PBS), Pakistan textile exports surged to a record high of US$1.74bn (+7% MoM) in Apr-22, where around 81% of the increase in exports as compared to Mar-22 belongs to value-added exports.

Under the value-added segment, Knitwear exports played a key role here, which is up by 15% MoM to US$488mn mainly due to a significant rise in volumetric sales (+28% MoM) followed by Bedwear (+7% MoM) and Ready-made garments (+2% MoM).… Continue

Share:

Gul Ahmed Textile made some capacity expansions in the Spinning and Home Textile segments

Gul Ahmed Textile Mills (GATM) has reported consolidated NPAT of PKR2.4bn (EPS: PKR3.96) for 3QFY22, up 43% yoy and 3% qoq. This takes 9MFY22 NPAT to PKR6.0bn (EPS: PKR9.70), up a sharp 66% yoy. The 3Q result is in line with our expected EPS of PKR3.89.… Continue

Share:

Nishat Chunian Ltd, 9MFY22 EPS stands to PKR28.10

Nishat Chunian Ltd (NCL) has reported an unconsolidated NPAT of PKR2.0bn in 3QFY22 (EPS: PKR8.49), up 10% yoy but down 18% qoq. This takes 9MFY22 EPS to PKR28.10, up a staggering c.2.0x yoy. The 3Q result is lower than our expected EPS of PKR10.41, where the deviation stems from higher-than-expected finance cost and other expenses.… Continue

Share:

Heimtextil Summer Special:

A special edition of Heimtextil the world’s most important exhibition for bedsheets, towels and interior textiles will be held with Techtextil and Texprocess. With over 1000 Heimtextil exhibitors present in June – this gives visitors a unique look at both home and house textiles and technical textile products at the same venue.… Continue

Share:

Pakistan Textile Sector expected to show good results in 3Q

BMA Textile universe is estimated to undergo an impressive jump in revenue and profitability to PKR 78Bn (↑48/5% YoY/QoQ) and PKR 6.6Bn (↑25/2% YoY/QoQ), respectively for the quarter ended Mar’22, primarily on the back of rising textile exports (Jan-Mar’22 Exports: USD 4.9Bn, ↑24% YoY), strong demand from the retail segment and hefty inventory gains.… Continue

Share:

NML to post 3QFY22 earnings of PkR6.13/sh:

We expect Nishat Mills Limited (NML) to post NPAT of PkR2.2bn (EPS: PkR6.13) in 3QFY22 vs PkR1.9bn (EPS: PkR5.32) in 3QFY21, up by 15.2%YoY. This will take 9MFY22 earnings to PkR7.8bn (EPS: PkR22.1) against PkR3.6bn (EPS: PkR10.37) in 9MFY21, an increase of 113%YoY.… Continue

Share:

KATI welcomes the constitution of a textile council for the development of the sector

Acting President of Korangi Association of Trade and Industry (KATI) Farrukh Qandhari has welcomed the establishment of the Textile Council by the government for the development of the textile sector. He said that the inclusion of veterans like Masood Naqi, former president of KATI, and other important stakeholders as members of the council would definitely improve the textile imports and also pay special attention to the problems of the sector.… Continue

Share:

Pakistan textile sector shown robust performance during 9MFY22

As per data released by Pakistan Bureau of Statistics (PBS), textile exports for the month of Mar’22 clocked-in at USD 1.6Bn as compared to USD 1.4Bn in the SPLY (↑20% YoY) and USD 1.7Bn in Feb’22 (↓3% MoM). Cumulatively, this equates to exports of USD 14.2Bn in 9MFY22 against USD 11.4Bn in the SPLY, registering robust growth of 25% YoY.… Continue

Share:

Sapphire Finishing Mills to become leading Industry 4.0 textile operation with SAP

Sapphire Finishing Mills, a leading vertically integrated textile group based in Pakistan, reaffirmed their commitment to digital transformation and to becoming a leading Industry 4.0 textile operation by signing a deal for the SAP S/4HANA Fashion & Vertical Business solution with NTT DATA Business Solutions MENA.… Continue

Share:

Pakistan Textile: Exports at a record high of US$12.6bn in 8MFY22 ob the back of the value-Added segment

As per the data reported by the Pakistan Bureau of Statistics (PBS), Pakistan textile exports surged to a record high of US$12.6bn in 8MFY22, up 26% YoY. In PKR terms, the same has clocked in at Rs2,156bn, up by 33% YoY.… Continue

Share:

Nishat Chunian to separate its subsidiary Nishat Chunian Power

Nishat Chunian Ltd (NCL) recently announced intentions to separate its subsidiary Nishat Chunian Power Ltd. (NCPL) as an independent entity. That is, it will transfer its holding in NCPL to the existing shareholders of NCL, in turn becoming a pure textile company itself.… Continue

Share:

Nishat Chunian on expansion mode

The management of Nishat Chunian Limited (NCL) held a corporate briefing session today to discuss the FY21 financial results and future outlook on the company’s strategy going forward.

Highlights:

·        Nishat Chunian Limited (NCL) declared a PAT of PKR 5,599mn (EPS: PKR 23.32) in FY21, significantly up by 21x YoY from PKR 265mn (EPS: PKR 1.11).… Continue

Share:

APTMA out rightly rejects the baseless claim of shortage of yarn in the country

Mr. Zahid Mazhar, Sr. Vice Chairman, All Pakistan Textile Mills Association (APTMA) has out rightly rejected the statements appearing in the media from Pakistan Hosiery Manufacturers Association and Pakistan Textile Exporters Association regarding the so called shortage of yarn in the country and their proposal of allowing import of Cotton Yarn from India.… Continue

Share:

International Apparel Sourcing Show, USA

International Apparel Sourcing Show is scheduled to be held on 19 – 21 January, 2020. The trade fair’s objective is to help American apparel brands, retailers; wholesalers and independent design firms find the best domestic and overseas apparel manufacturers.

There were 107 exhibitors from 13 countries (330 in totals with Texworld USA) and 4,167 visitors from 70 countries participated in January 2019 show.… Continue

Share: