Interloop Ltd

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Textile exports decline to US$11.2bn during 8MFY23, down 11% YoY. Over-piled inventories among major retail outlets in USA & Europe have led to lower export orders. Removal of subsidies, peaking interest rates and a fall in demand to negatively impac...

Despite the sharp downward revision in our TPs for the IMS Textile Universe, we remain Overweight on the sector. Global and local macroeconomic uncertainties have led us to further prune our growth assumptions, from our last revision. We reiterate ou...

Textile exports in Sep'22 clocked in at USD1.5bn, up a mere 3% YoY (down 3% MoM). Growth in exports on a YoY basis is largely due to the Knitwear and Towels segments. We remain Overweight on the sector with a preference for ILP and GATM.

ILP reported the best 1Q result, posting a fully diluted EPS of PKR5.31, owing to sharp revenues growth and GMs. The result slightly missed our expected EPS of PKR5.71, due to higher-than-expected finance costs. We retain our Buy recommendation on IL...

We expect the IMS Textile Universe to post combined core net profits of PKR9.4bn in 1QFY23, flat compared to SPLY. ILP and GATM are expected to lead our Textile cluster, attributed to robust revenue growth in the Value-added segments. We continue to....

Latest news articles suggest that the govt. is proposing to discontinue the electricity tariff incentives PKR43.45/unit. NML and KTML are likely to be impacted the most by this proposal. ILP is likely to be relatively shielded, in our view. We contin...