Earnings Report /
Pakistan

Kohinoor Textile Mills: 4QFY21 review – earnings beat due to lower-than-expected Opex

  • KTML posted an unconsolidated EPS of PKR3.56 in 4Q, beating our expectations amid lower Opex, and a final DPS of PKR1.0

  • GMs remained flattish qoq, where higher Spinning margins may have been offset by lower Home Textile margins, in our view

  • We reiterate our Buy stance on KTML with a June 2022 TP of PKR145/sh

Abdul Ghani Mianoor
Intermarket Securities
16 August 2021