KPR Mill revenue growth aided by higher yarn realisationsKPRMILL - 560 Change: -8.55 (-1.51 %)
News: Revenue for the quarter grew 36% YoY (4% QoQ) to Rs.1260.5 crore. While we await volume date, we expect strong yarn realisations (~40% YoY) to have aided healthy topline growth. On a sequential basis, gross margins declined 338 bps QoQ to 43.8% as the company carried low cost cotton inventory till October 2021. EBITDA margins declined 480 bps QoQ to 24.2%
Views: KPR, during the quarter, commissioned its new garmenting facility (42 million pieces). We continue to like KPR as a structural long term story to play the apparel export space. We continue to remain positive on the stock.