Interloop Limited (ILP), a local textile giant, plans to expand its production capacity while installing an apparel factory by investing a little north of $300 million in its production line.
In this regard, its President and Group Chief Financial Officer, Muhammad Maqsood at a briefing organized by KASB Securities said that under his management, Interloop Limited “is targeting to double its revenues by FY26. We are modeling revenue growth of 46% over the next 3 years and earnings growth of 41 percent”.
As Pakistan’s leading textile contender, ILP generates nearly 90 percent of its revenue from exports and is showing signs of massive growth as it progresses with its diverse product line.
“To highlight, the denim expansion is on track and is expected to complete in 4QFY21. In the hosiery segment, capacity would be enhanced in a phased manner starting from September 2021 as the company is operating at maximum rated capacity.”
Maqsood said the company continued to expand to address rising demand and enhance its footprint.
Its major export destinations include Nike, Adidas, Puma, and Target that contribute to almost half of its export revenue. This, along with the order diversion to Pakistan from the US/China trade spat, and a switch in orders from India and Bangladesh will essentially allow ILP to achieve sustainable goals going forward.