Tuesday, April 23, 2024

Pakistan’s Largest Textile Firm, Interloop Limited to Invest $300M in Upcoming 5 Years

Interloop Limited, one of the world’s largest hosiery producers, plans to spend $300 million over the next five years to double revenue as part of its “Vision 2025” strategy.

“We are pleased to inform you that Interloop Limited has formulated its Vision 2025 following a comprehensive exercise,” the company said in a statement on Thursday.

According to the management, the vision calls for the company to double its revenue by FY2025-26 compared to FY2020-21. Furthermore, in order to achieve its vision and double profits, the company will invest $300 million over the next five years to add a knitwear apparel plant, an ActiveWear plant, a Denim fabric mill, a sixth hosiery plant, and expand its spinning and yarn dyeing capability.

With ten knitting machines, it was established in 1992 in Faisalabad. It is now a fully vertically integrated company with state-of-the-art spinning, yarn dyeing, knitting, and finishing facilities; it is also one of Pakistan’s largest exporting firms and one of the largest listed companies on the PSX by market capitalization after a series of expansions.

Interloop Limited had revenue of Rs. 26.26 billion and profit after tax of Rs. 2.904 billion in 1HFY21.

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