The profitability is attributed to higher demand due to shift in orders to Pakistan from regional peers amidst supply chain disruptions. The company posted profit after tax of Rs1.7 billion in 3QFY21 as against a loss of Rs370 million. Within textile composite, the company posted the highest revenue of Rs63.5 billion and gross profit of Rs12.3 billion. The company plans to expand its retail presence by adding 20 new stores this year.ĭespite COVID19 the retail segment has contributed 20 percent towards the turnover mainly attributed to spill-over of orders and the segment is expected to see higher growth as vaccine has started to rollout, according to the company. The company has 108 retail stores in 45 cities across the country, offering a diverse range of products from home accessories to fashion clothing. With an installed capacity of more than 51,840 spindles, 300 state-of-the-art weaving machines and most modern yarn dyeing, processing and stitching units, Gul Ahmed Textile is a composite unit – making everything from cotton yarn to finished products. The management is aiming for its initial public offering between November 2021 and March 2022 depending on the market conditions, Khadmi Ali Shah Bukhari Research Securities Research said in report. In an analyst briefing, the company management said it is carving out its retail segment, Ideas, to enable it to be a 100 percent-owned subsidiary subject to the court’s order.
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