<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Service Industries Limited is one of the renowned
conglomerate of the country with a diversified portfolio of footwear, tyres
& tubes. In 9MCY23, SRVI's topline witnessed a decent turnaround, where
consolidated revenue increased by ~56% YoY to clocked in at PKR69.9bn vs.
PKR44.7bn in 9MCY22. The increase in revenue is primarily contributed by
tyre/tube segment, which grew by 69% YoY. This sizeable growth is mainly fueled
by commencement of production from SLM (subsidiary of SRVI) coupled with PKR
devaluation and price adjustments to pass on inflationary pressure. Meanwhile,
footwear segment also experienced an increase of 44% in 9MCY23, driven by
higher local sales facilitated by addition of 60 new stores. Similarly,
profitability reached...
