Pakistan’s textile exports in April’22 grew by a handsome 30% yoy and 7% mom to US$1.7bn (highest exports in FY22)
Exports of the value-added segment surged by an average 35% yoy; imports remained rose by 20% yoy to c.US$0.4bn
We have an Overweight stance on the sector, preferring ILP (TP PKR109/sh) and GATM (TP PKR61/sh) as our top picks
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Valuation Methodology: We use multiple valuation methodologies in arriving at a Target Price including, but not limited to, Discounted Cash Flow (DCF), Dividend Discount Model (DDM) and relative multiples based valuations.
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