Author Topic: GATM -- Gul Ahmed Textile Mills Limited  (Read 47864 times)

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Offline SBM

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GATM -- Gul Ahmed Textile Mills Limited
« Reply #-1 on: November 29, 2013, 11:47:33 AM »
All about GATM
« Last Edit: March 01, 2014, 10:39:57 PM by M&M »
I hate waking up.

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GATM -- Gul Ahmed Textile Mills Limited
« Reply #-1 on: November 29, 2013, 11:47:33 AM »

Offline SBM

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Re: GATM -- Gul Ahmed Textile Mills Limited
« on: November 29, 2013, 11:48:00 AM »
PK bhai. tp ?
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Offline PK

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #1 on: November 29, 2013, 11:57:37 AM »
PK bhai. tp ?
yaar isko 22 se lena tha 30+ ki ride hojati ..
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

Offline PK

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #2 on: November 29, 2013, 12:00:27 PM »
PK bhai. tp ?
yaar isko 22 se lena tha 30+ ki ride hojati ..
Btw thanks for thread ... Value bhai plz share ur view on Gatm Oulman u 2 .. if possible
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

Online Valueestimator

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #3 on: November 29, 2013, 03:04:22 PM »
PK bhai. tp ?
yaar isko 22 se lena tha 30+ ki ride hojati ..
Btw thanks for thread ... Value bhai plz share ur view on Gatm Oulman u 2 .. if possible

margins are much below the industry average.

its a concern but the company is well poised to take benifit of gsp.
AGIC UNIC AICL KML FASM BTL JDMT

Online asim.786

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #4 on: November 29, 2013, 05:06:21 PM »
PK bhai. tp ?
yaar isko 22 se lena tha 30+ ki ride hojati ..
Btw thanks for thread ... Value bhai plz share ur view on Gatm Oulman u 2 .. if possible

margins are much below the industry average.

its a concern but the company is well poised to take benifit of gsp.
sold today whatever bought at 21
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Online MZ

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #5 on: December 05, 2013, 08:27:47 PM »
One of the largest exporters of textiles and fabrics in Pakistan, GATM is a composite textile mill engaged in the manufacture, spinning and processing of textile and yarn. Opening its first 'Ideas' store in 2003, the company was amongst the first-and subsequently one of the most successful-composite mills that went down the retail path. While many have followed suit, Gul Ahmed remains the pioneer of the "original lawn", a phrase that ushered in an era of innovation and growth in the value-added textile segment of the country.

Performance 1Q FY14

During the quarter ended September 30, 2013, Gul Ahmed achieved net sales of Rs 7,051 million-an increase of 21 percent over the corresponding period. This is indicative of the windfall that was soon to come the company's way, with ever improving export sales and a steady demand at home amidst rapidly improving local operational environment.

The company's gross profit during the quarter has increased to Rs 1,228 million representing growth of nearly 30 percent year on year. Growth in profit after tax comes out to 136 percent when compared to the corresponding period.

The only red flag on Gul Ahmed's horizon at the moment is likely to be the domestic cotton prices, which witnessed a sharp uptick during the second half of the year. While procurements during this period will effectively increase the firm's average inventory costs for the upcoming period, Gul Ahmed wisely held off on making major purchasing and will likely be able to curtail some of these costs as we head deeper into the glut season.

Highlights FY13:

During FY13, Gul Ahmed's books managed to turn green once more off the back of improved revenues-with both local and export sales having increased by 29 and 16 percent, respectively. The year also saw Europe witnessing some semblance of revival from the economic crises, and the subsequent increase in demand for processed textiles from abroad and the depreciation of rupee against the greenback also contributing to the aforementioned increase in exports.

Total sales in the first two quarters contributed 44 percent to the annual numbers whereas third and fourth quarter sales contributed 27 and 29, respectively. The second and third quarters in particular remained exceptionally lucrative for Gul Ahmed due to increase in local demand which centers on the firm's winter offerings. Additionally, incremental increase in prices of khaddar, linen and other winter suiting during the period under review also helped the company's cause.

Gul Ahmed's performance on the whole has been consistently improving off the back of the sector's improved fundamentals, with the firm's gross profit margin having increased by nearly 33 percent in the space of the last 12 months.

During the year, a substantial reduction of 11 percent in the company's finance cost, allowed for the profit before tax for the period to jump to Rs 841 million versus loss before tax of Rs 1.4 million reported in the last fiscal year. Profit after tax for the year ended up touching Rs 700 million mark-a substantial improvement compared to the loss after tax of Rs 240 million reported in the previous fiscal year.

For Gul Ahmed, this performance comes as a respite after the abysmal performance of FY12, when the energy crises and dwindling foreign demand combined together to pour salt on the firm's wounds. However, the firm has hopefully moved on from the era of red bottom lines for good-having managed to expand their export reach during the last fiscal year while maintaining a stronghold on the local processed textiles sector at the same time.

Outlook

Going forward, Gul Ahmed Textile Mills will be one of the bigger players who are likely to emerge victorious from Pakistan's entrance into the clutches of nations who enjoy tariff-free access to the European markets. Unlike some other players (read Nishat Chunian) GATM already has the necessary infrastructure in place to enjoy immediate benefits from the tariff removal-which will effectively benefit exporters of value-added textiles, home linens and garments the most.


===================================================================
GUL AHMED TEXTILE MILLS LIMITED
===================================================================2010     2011     2012     2013
===================================================================
Net sales                         19,689   25,435   25,064   30,121
Gross profit                       3,173    4,627    3,544    4,699
Operating profit                   1,653    2,635    1,374    2,069
NP/LAT                               478    1,196     -240      702
-------------------------------------------------------------------
Profitability Ratios
-------------------------------------------------------------------
GP ratio                           16.12    18.19    14.14    15.56
Operating leverage ratio            0.88     2.04    32.77     2.38
EBITDA margin to sales %           11.92    13.21     8.49     9.43
Net Profit to Sales %               2.43      4.7    -0.96     2.32
-------------------------------------------------------------------
Liquidity Ratios
-------------------------------------------------------------------
Current ratio                       0.97     1.03     0.99     1.05
Quick Ratio                         0.34     0.19     0.24     0.27
-------------------------------------------------------------------
Gearing Ratios
-------------------------------------------------------------------
Debt: Equity ratio                  0.62     0.47     0.47      0.4
-------------------------------------------------------------------
Activity Ratios
-------------------------------------------------------------------
Inventory turnover                    98      134      151      121
Debtor Turnover                       45       31       30       28
Total asset turnover                1.35     1.25     1.41     1.43
Fixed Asset Turnover                3.21     3.82     3.67     4.23
-------------------------------------------------------------------
Investment Ratios
-------------------------------------------------------------------
EPS                                 3.76     9.42    -1.89     4.84
Dividend yield                      0.07        -        -        -
Market Value per share @ year end  18.53    51.73    21.11    23.74
-------------------------------------------------------------------
Source: Company Records
===================================================================
====================================================
OPERATING RESULTS 1QFY14
====================================================
Rs (mn)                   1QFY13    1QFY14       Chg
====================================================
Net sales                  5,817     7,051    21.21%
Gross profit                 944     1,228    30.08%
Distribution expenses        302       354    17.22%
Operating profit             374       537    43.58%
P/L after Tax             65,953   155,574   135.89%
EPS                         0.48      1.02         -
----------------------------------------------------
Source: Company Records
====================================================

Offline naumaan

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #6 on: December 08, 2013, 02:48:26 AM »
In Times of India

Pakistan's textile group eyeing Surat

Since its inception in 1953, Gul Ahmed has been a trend-setter in Pakistani textile industry and has serviced a diverse range of customers across the globe.

Gul Ahmed is a vertical textile mill with state-of-the-art spinning, weaving, yarn-dyeing, piece-dyeing, printing (pigment and reactive on rotary as well as flat bed), stitching, embroidery and quilting facilities.

http://timesofindia.indiatimes.com/city/surat/Pakistans-textile-group-eyeing-Surat/articleshow/27040464.cms

Online MZ

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #7 on: December 26, 2013, 05:37:04 PM »
Gul Ahmed Textiles (GATM): Conference call takeaways

In the backdrop of recent spree of currency depreciation across the emerging
Asia region against the greenback, especially the INR (Indian rupee)
depreciation and its relative impacts on Pakistan’s Textiles sector, rising energy
costs and the GSP-plus status update, we have had a conference call with the
management of one of the key Textile giant, Gul Ahmed Textile Mills, to have an
industry view on the same. Following are key takeaways of our call:

? Recent increase in electricity and gas prices to have a negative bottom line
impact of around 18%-20% across the board for textile companies
? With Indian Rupee (INR) losing its vigor by massively against USD, Indian
Textile sector stands to benefit textile companies who import yarn from
India, which tends to be of better quality (in terms of harvesting in achieving
better staple strength) and lesser costly from local yarn
? Granting MFN status to India will further boost Lawn Exports where India’s
textile products tend to have a higher percent of polyester mix from our
make
? Pakistan has an edge over India Lawn Printing and Denim products, major
textile exports across the border, this along with other value addition
products such as home textiles, towels, etc stands to benefit from in
exports to EU markets as GSP+ and ATP+ status is granted
? Pakistan has benefited from export orders which have been diverted from
Bangladesh (after incident there) and China recently

AHL

Offline BlueClub

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #8 on: January 07, 2014, 08:56:50 AM »
How much further can it go? 200% increase  :confused1:
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Offline aalam

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #9 on: January 07, 2014, 09:11:32 AM »
How much further can it go? 200% increase  :confused1:
missed it.......... :down:
short list:ATRL,Engro,Efoods,DGKC

Offline Farrukh Muqeem

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #10 on: January 07, 2014, 09:17:16 AM »
How much further can it go? 200% increase  :confused1:
missed it.......... :down:

same here ........ :bangin:

Offline Hamid Mamraiz

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #11 on: January 07, 2014, 11:08:35 AM »
How much further can it go? 200% increase  :confused1:
Impossible
Trend is your friend. Never go against the Trend.

Offline Salammembers

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #12 on: January 07, 2014, 11:18:55 AM »
How much further can it go? 200% increase  :confused1:
Impossible

due 2 india connection 80-100 ki batain haay but note batain :confused1:
.i am still holding 60% quantity and not selling before Q2 meeting

Offline BlueClub

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #13 on: January 07, 2014, 11:27:43 AM »
Impossible
It has already increased 200% bhai.
DGKC - ENGRO - GASF - HINOON - LUCK - MLCF - SEARL

Offline JAWAD

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #14 on: January 07, 2014, 12:16:13 PM »
It seems that it would achieve the target mentioned above ....!!!

How much further can it go? 200% increase  :confused1:
Impossible

due 2 india connection 80-100 ki batain haay but note batain :confused1:
.i am still holding 60% quantity and not selling before Q2 meeting

Offline JAWAD

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #15 on: January 08, 2014, 10:19:36 AM »
How much further can it go? 200% increase  :confused1:
Impossible

due 2 india connection 80-100 ki batain haay but note batain :confused1:
.i am still holding 60% quantity and not selling before Q2 meeting

what do you expect in q2 result .....?

Offline JAWAD

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #16 on: January 10, 2014, 10:09:54 AM »
How much further can it go? 200% increase  :confused1:
Impossible

due 2 india connection 80-100 ki batain haay but note batain :confused1:
.i am still holding 60% quantity and not selling before Q2 meeting

Dear salam any advice hold or sell as i have sold 50% of my holding

Offline Salammembers

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #17 on: January 10, 2014, 10:19:19 AM »
How much further can it go? 200% increase  :confused1:
Impossible

due 2 india connection 80-100 ki batain haay but note batain :confused1:
.i am still holding 60% quantity and not selling before Q2 meeting

Dear salam any advice hold or sell as i have sold 50% of my holding
Numbers men Value and SBM will probably advice total exit,
my feeling is gatm unlikely to break 48 now but for further upward movement
solid improvement in eps khappay though at kse anything is possible 
. i am still holding Gatm but considering 50% switch to -----, which 1? undecided :confused1:

Offline JAWAD

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Re: GATM -- Gul Ahmed Textile Mills Limited
« Reply #18 on: January 10, 2014, 10:27:56 AM »
dear in my opinion if you want to shift from gatm then it would be win win situation to swap it with tgl as
i am thinking to do it ...