Interloop Limited Approves Ambitious Expansion and Budget for FY 2024-25

Karachi, Interloop Limited, a prominent player in the textile industry, has announced the approval of its annual budget for Fiscal Year 2024-25, along with significant expansion plans across various segments. The decisions were finalized during the Board of Directors meeting held on June 25, 2024, at the Interloop Industrial Park in Khurrianwala, Faisalabad.

According to information available from the Pakistan Stock Exchange (PSX), the board has set an ambitious export sales target of USD 670.80 million for FY25. In response to growing market demands, Interloop is set to significantly enhance its manufacturing capacity. The approved capital expenditure (capex) expansions are aimed at increasing productivity and sustainability in several key areas of its operations.

The major expansions include the installation of Hosiery Plant 6, scheduled to commence by the first quarter of FY26. This new facility is expected to increase hosiery capacity by 25%, with an investment of USD 58 million to add 1,584 knitting machines. In the denim segment, the board approved a USD 18.8 million investment to add 20 new production lines by the fourth quarter of FY26, which will elevate the total garment production capacity to approximately 18 million units annually.

Additionally, the yarn dyeing capacity will also see a rise, with an expansion from 20 metric tons to 28 metric tons at a cost of USD 13.2 million, anticipated to be operational by the first quarter of FY26. In line with its commitment to environmental stewardship and reducing greenhouse gas emissions, Interloop plans to enhance its solar energy generation capacity by 4MW, bringing the total to 16.6MW by the third quarter of FY25 at a cost of USD 2.1 million.

These strategic initiatives underscore Interloop’s focus on scaling its operations while promoting sustainable practices within the industry.