Author Topic: NML -- Nishat Mills Limited  (Read 631171 times)

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Offline Farzooq

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Re: NML -- Nishat Mills Limited
« Reply #2899 on: January 30, 2019, 09:16:20 PM »
Pakistan Textiles: Multiple incentives in the offing; we prefer NML

In order to address the external account issues, the textile sector has assumed central importance and the govt. has unveiled multiple incentives in order to improve competitiveness of the sector at int’l level.
A major relief on the industry’s liquidity issues is on the cards as the govt. plans on settling 33% of pending refunds via cash and remaining by issuing promissory notes.
Some progress has been made in terms of provision of subsidized gas where companies have begun receiving bills at the promised rate of USD6.5/mmbtu. However, notification regarding the same is still awaited.
Within BMA textile space, NML stands to benefit the most from announced incentives with an estimated ~18% cumulative earnings impact on an annualized basis.
We reiterate NML (TP: PKR172/sh) as our top pick within BMA Textile space and our conviction on the scrip is underpinned by (i) potential upside from gas subsidy, (ii) diversified sales mix, and (iii) low leverage. 
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Re: NML -- Nishat Mills Limited
« Reply #2899 on: January 30, 2019, 09:16:20 PM »

Online Irfan

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Re: NML -- Nishat Mills Limited
« Reply #2900 on: February 14, 2019, 04:03:02 PM »
After Saudi Arabia, England, South Africa and Russia, Hyundai is bringing Digital Car Showroom first time ever in Pakistan. Coming soon @ Emporium Mall, Lahore.

https://www.linkedin.com/feed/update/urn:li:activity:6500673058355900416

Offline Farzooq

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Re: NML -- Nishat Mills Limited
« Reply #2901 on: April 25, 2019, 02:08:06 PM »
NML: Earnings expected to increase by 715% YoY during 3QFY19

Nishat Mills Limited (NML) is scheduled to announce its 9MFY19 result on 26th Apr’19. We expect the company to post a profit after tax (PAT) of PKR 3,952mn (EPS: PKR 11.24), up by 43% YoY compared to PAT of PKR 2,765mn (EPS: PKR 7.86) in SPLY. Topline of the company is expected to grow by 23% YoY to PKR 47.4bn amid significant PKR depreciation which resulted in rise in prices of final products. During 9MFY19, gross margins are expected to increase by 206bps YoY to 11.86% compared to 9.80% in SPLY amid PKR depreciation. Whereas other income of the company is set to increase by 9% YoY on account of higher exchange gains. On a sequential basis, we expect the company to post a profit after tax (PAT) of PKR 789mn (EPS: PKR 2.24), up by 715% YoY and down by 62% QoQ. Gross margins are expected to decrease by 64bps QoQ to 11.15% attributable to increase in international and local cotton prices. Likewise, other income is projected to record a growth of 208% YoY given dividend income from MCB and expected exchange gains of PKR 147mn.

 
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