On Friday, 27 November 2020, Azgard Nine Limited held its Corporate Briefing Session in Lahore on its results for the year ended 30 June 2020.
Management explained a year shaped by COVID-19. Production was suspended on 1 April 2020 and partially resumed on 16 April. Over the year, the denim unit produced 21.9 million metres and the garment unit 9.2 million pieces. The company also added capacity, with rotors rising from 3,304 to 3,544 and stitching machines from 2,996 to 3,135. The SWOT analysis pointed to average sales growth of 22 percent a year from 2015 to 2019, and to lower interest rates (from 13.93 to 7.26 percent) as an opportunity. First-quarter FY2021 sales were up 24 percent.
Key facts
- Date27 November 2020, Lahore
- FY2020 net salesRs16,909 million
- Output21.9 million metres of denim; 9.2 million garments
- Capacity added3,544 rotors; 3,135 stitching machines
- Q1 FY2021sales up 24%
The presentation is available to download. Investing through a hard year kept Azgard9 ready for its brand partners when demand returned.
