Islamabad: The Annual Report of Kohinoor Textile Mills Limited (KTML) for the fiscal year ending June 30, 2024, highlights a year of strong financial and operational performance despite the challenging economic environment. According to information available from the Pakistan Stock Exchange (PSX), KTML's strategic expansions and sustainability initiatives have significantly contributed to its achievements.
The company reported a 19.68% increase in consolidated sales and a notable 68.43% rise in group profit over the previous year. The net profit for KTML's subsidiary, Maple Leaf Cement Factory Limited, rose by 17.38%, while Maple Leaf Capital Limited saw a dramatic increase in net profit by 934% compared to the previous year.
In the detailed financial breakdown, the spinning division faced challenges with slightly reduced results due to high energy costs, offset by increased sales from new capacity enhancements. The weaving division maintained its performance level with revenue boosts from export growth and capacity utilization. Notably, the home textiles division observed a substantial rise in revenue with export sales increasing by 39% in value and 36% in volume.
KTML's commitment to innovation and sustainability is evident in its investment of Rs. 3.3 billion in capital expenditures, focusing significantly on expanding its spinning segment and enhancing its solar power plant facilities.
Furthermore, the company's efforts in environmental sustainability are demonstrated through projects like the microgrid systems, conversion of a coal boiler to biomass fuel, ultra-filtration, and sewage treatment plants, alongside a rainwater harvesting lake. These initiatives underscore KTML's dedication to responsible water management and energy conservation.
According to information available from the Pakistan Stock Exchange (PSX), KTML's adherence to robust corporate governance, coupled with its strategic focus on quality and efficiency, has poised the company for sustainable growth in the years ahead. The report reveals KTML's forward-looking approach in navigating the complexities of the textile market, ensuring continued stakeholder satisfaction and financial stability.