Earnings Report /

Pakistan Textiles: Core-profits are intact, but FY23 to be challenging

  • We estimate the IMS Textile Universe to post core NPAT of PKR7.9bn, down 8% YoY, largely due to one-off supertax

  • ILP and GATM are likely to lead the sector, owing to elevated robust Spinning segment margin and Hosiery margin for ILP

  • We are Overweight on the sector, and prefer ILP (TP of PKR109/sh) and GATM (TP of PKR61/sh) as our top picks

Abdul Ghani Mianoor
Intermarket Securities
31 August 2022


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