Pioneer Embroideries optimistic of its growth: Profit Mart Securities report

26 March 2022, Mumbai:

One of India's leading manufacturers and exporter of value-added specialty polyester filament yarn (SPFY) and embroidery and laces, Pioneer Embroideries (PEL)can cross turnover of Rs 414 crore by FY 24 from Rs 226 crores in FY22, according to a research report by Profit Mart Securities.

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The report said that on the bottom line level, the company is expected to record a PAT of Rs 13 crore in FY22, which is expected to bounce back to Rs 16 crore in FY23 and Rs 21 crores in FY24.

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Thus on a conservative basis, PEL should record an EPS of Rs 5 for FY22. PEL has its manufacturing facility for SPFY at Himachal Pradesh and runs three embroidery and laces manufacturing facilities at Gujarat, Dadra & Nagar Haveli, and Tamil Nadu.

It owns two strong brands, Silkollite in the SPFY segment and Hakoba , a heritage brand, in the retail segment for embroidered fabrics, garments, salwarkameezdupatta (SKDs), and sarees.

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