Kohinoor Textile Mills and its future forecast

Kohinoor Textile Mills Limited (KTML) held its analyst briefing yesterday, wherein the company management apprised of the following:

· To note, the company posted NPAT of PkR4.7bn in FY22, higher by 72%YoY, on the back of higher revenues during the period.… Continue


APTMA urges the government to save the export-oriented textile industry of Sindh and Baluchistan from total closure

Mr. Zahid Mazhar, Chairman of All Pakistan Textile Mills Association, Southern Zone, has urged the Prime Minister of Pakistan, Mian Shahbaz Shareef and the Chief Minister of Sindh, Syed Murad Ali Shah, for their intervention to save the export-oriented textile industry of Sindh and Baluchistan from total closure due to denial of gas from November 15, 2022, to 28th February 0223.… Continue


Emirates Group announces record half-year performance for 2022-23

The Emirates Group today announced its half-year results for its 2022-23 financial year. The Group is reporting a 2022-23 half-year net profit of AED 4.2 billion (US$ 1.2 billion), a record half-year performance, and a turnaround of almost AED 10 billion from its AED 5.7 billion (US$ 1.6 billion) loss for the same period last year.… Continue


Interloop Limited plans achieving US$700mn revenue by 2025

Interloop Limited (ILP) conducted its corporate briefing session to discuss FY22 and 1QFY23 financial results and the company’s future outlook.

The company presented their vision for 2025, which is based on achieving US$700mn revenue by 2025 by transforming itself into a full-family clothing business.… Continue


Tata Textile Mills enters a new era of growth with Oracle Fusion Cloud ERP

Tata Textile Mills Limited (TTML), one of the well-respected conglomerates in Pakistan, has selected Oracle Fusion Cloud Enterprise Resource Planning (ERP) to accelerate the business transformation of its textile mills and Food division by leveraging cloud technology. 

Previously, TTML’s operations relied on a combination of customized and standard legacy solutions and manual processes.… Continue


Nishat Chunian reports loss

Nishat Chunian Ltd (NCL) has reported an unconsolidated net loss of PKR0.1bn in 1QFY23 (LPS: PKR0.54), slipping into losses for the first time since the pandemic, compared to an EPS of PKR9.23 last year and PKR3.00 in the previous quarter. The result was considerably below our estimated EPS of PKR3.45, owing to lower-than-expected margins and other income.… Continue


Khalid A. Majeed becomes Chairman of PDMEA.

Khalid A. Majeed, Chairman of Mekotex (Pvt.) Limited, Karachi, has been elected Chairman of the Pakistan Denim Manufacturers and Exporter Association (PDMEA) for 2022 – 23 during the recent annual elections. Likewise, Abdur Rahim of Siddiqsons Limited (Denim City) as Senior Vice Chairman, Amanullah Kasim of Kassim Textile Mills Ltd as Vice Chairman (South) and Siddiq Bhatti of U.… Continue


Nishat Mills Limited posts NPAT of PKR4.2bn in 1QFY23

Nishat Mills Ltd (NML) has reported an unconsolidated NPAT of PKR4.2bn (EPS: PKR11.81) in 1QFY23, up 26% YoY, while more than triple that of the previous quarter. We estimate core-textile operations to have clocked in at PKR9.0/sh, up 29% YoY. The 1Q result came in significantly higher than our expected EPS of PKR3.75, largely owing to higher-than-estimated gross margins and revenues.     … Continue


Trade Development Authority of Pakistan to Participate at Texworld Evolution Paris

Trade Development Authority of Pakistan to Participate at Texworld Evolution Paris. The Authority has asked the local firms to apply for the same. As one of the world’s major fashion capitals, Paris is the best place to promote and sell brand(s) and collections in Europe and to the Western and increasingly to the Eastern and Middle Eastern markets.… Continue


Kohinoor Textile Mills has reported an unconsolidated NPAT of PKR0.5bn

Kohinoor Textile Mills (KTML) has reported an unconsolidated NPAT of PKR0.5bn (EPS: PKR1.59), down a sharp 52% YoY (up 11% QoQ). The sluggish result is significantly lower than our expected EPS of PKR3.03, where the deviation has largely stemmed from lower-than-expected gross margin and lower other income.… Continue


Interloop: 1QFY23 – result above expectations

Interloop Limited (ILP) recorded earnings of Rs4.96bn (EPS: Rs5.31) in 1QFY23 compared to earnings of Rs2.69bn in 1QFY22 (EPS: Rs2.88). Earnings however, declined by 7% QoQ which stood at Rs5.36bn (EPS: Rs5.74) in 4QFY22.

Gross Margins recorded at 33.2%, almost flat QoQ, however increased on YoY basis from 28.6% recorded in 1QFY22.… Continue


Pakistan Textile: Exports for Sep-22 down 3% MoM while up 3% YoY to US$1.5bn

Pakistan Textile exports for Sep-22 were recorded at US$1.5bn, down 3% MoM. In volumetric terms, exports remained strong with Cotton Cloth, Bedwear and Towels increasing MoM. In PKR terms, exports clocked in at Rs352bn almost flat MoM.

As compared to Sep-21, Pakistan textile exports were up 3% YoY (+41% YoY in PKR terms) due to growth in value added segment.… Continue


Emirates puts big hitters in the flying seat for the T20 World Cup

Hitman Rohit Sharma bowls over cricket fans as he takes to the field to feature in Emirates’ latest advertising campaign which will run during the ICC Men’s T20 World Cup. Emirates, official partner of the highly anticipated ICC Men’s T20 World Cup which kicks off in Australia this weekend, has signed up the Hitman for its “Lovers of Cricket” campaign.… Continue


Gul Ahmed Textile Mills has sustained the strong revenue growth in 4Q

Gul Ahmed Textile Mills (GATM) has reported consolidated NPAT of PKR3.9bn (EPS: PKR6.26) for 4QFY22, more than double compared to last year and up 58% QoQ. This takes FY22 NPAT to an all-time high of PKR9.8bn (EPS: PKR15.96), up 87% YoY.… Continue


Nishat Chunian gives away a dividend payout of PKR4.0/sh

Nishat Chunian Ltd (NCL) has reported an unconsolidated NPAT of PKR0.72bn in 4QFY22 (EPS: PKR3.00), down 70% YoY and 65% QoQ, owing to significant margin attrition to the tune of 10.4ppt/5.3ppt YoY/QoQ, missing our EPS of PKR6.63. This took FY22 EPS to PKR31.10, up from an EPS of PKR23.32, last year.… Continue


PTC urges government to allow import of Indian Cotton

Pakistan should import cotton from neighbouring India to avoid another balance of payment crisis, said Pakistan Textile Council (PTC) in a statement. The country’s textiles industry, which earned more than $19 billion in exports last year, is facing a shortage of raw material as flash floods have damaged about half of the nation’s cotton produce since June.… Continue


Revised RLNG rate impacts earning of Nishat Mills in final quarter

Nishat Mills Limited (NML) recorded unconsolidated earnings of Rs1.26bn (EPS: Rs3.6) in 4QFY22 compared to earnings of Rs2.28bn in 4QFY21 (EPS: Rs6.5). This takes FY22 earnings to Rs10.3bn (EPS: Rs29.3).

The result came lower than expectations, due to higher than expected effective tax rate of 52% for 4QFY22.… Continue


Pakistan’s e-commerce-based lifestyle brands launched

One of Pakistan’s leading e-commerce-based lifestyle brands – Chahyay.com– has launched a range of health and beauty products to the Pakistani market and ever since its launch, it has continued to grow.  Chahyay is the first Pakistani brand to allow consumers to buy customized furniture and home accessories online.… Continue


Microban launches Refresh™: a patent-pending odor capture technology that is completely metal free

Microban International is pleased to introduce Refresh™ – its newest, patent-pending, sustainable odor capture technology that is completely metal free. This innovative technology is proven to reduce odors by up to 93% on polyester and polyester-rich blends, even after 30 home launderings.… Continue


APTMA urges government for release of imported textile machinery and spare parts

Mr. Asif Inam, Chairman, All Pakistan Textile Mills Association – Southern Zone urges the government for allowing immediate release of textile machineries and their spare parts that were stuck up due to restriction on import of items covered under Chapter 84 and 85 of Customs Tariff.… Continue


Kohinoor Textile Mills’ revenue increases due to higher product pricing, particularly in the Spinning segment.

Kohinoor Textile Mills (KTML) has reported an unconsolidated 4QFY22 NPAT of PKR0.4bn (EPS: PKR1.44), down a sharp 60% YoY and 71% QoQ. This takes FY22 NPAT to PKR4.7bn (EPS: PKR15.84), up a sharp 72% YoY. The result is significantly lower than our expected EPS of PKR3.91, where the deviation has largely stemmed from lower-than-expected gross margin and higher other expenses.… Continue


Cotton prices reached the highest level in the country’s history: Mian Zahid Hussain

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said rains and floods have damaged the cotton crop more than any other crop.

The destruction of the cotton crop has pushed its prices up to the highest level in the history of the country which is a threat to the country’s largest industrial and export sector of textiles, he said.… Continue


Alkaram joins hands with ABHI to offer earned wage access to all its employees across the country

Alkaram, one of the biggest names in Pakistan’s textile industry, is partnering with ABHI, Pakistan’s first financial wellness platform, to offer its employees the facility of Earned Wage Access.

 ABHI’s goal is to provide financial wellness services to all employees in Pakistan, giving them the ability and freedom to access their earned but unpaid salaries, so they don’t have to face financial constraints in emergencies.… Continue


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


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