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.

As per management, there has been some slowdown in exports markets (North America & Europe) and Pakistan exports could be impacted due to the same.

Moving forward, the company is optimistic to cross US$300mn export sales in FY22 vs. US$271mn in FY21. For FY23, GATM is anticipating flat exports growth.

For energy availability and low cost, the company is planning to install 20MW solar plant by FY23.

Courtesy – Topline Securities

Posted in Textile Industry.

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