Kitex Garments Ltd

kitexgarments.com BSE: 521248 NSE : KITEX
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Kitex Garments Ltd, established in 1992 exports cotton and organic cotton garments especially infant wear. #

Website BSE NSE
  • Market Cap ₹ 641 Cr.
  • Current Price ₹ 96.4
  • High / Low ₹ 125 / 89.8
  • Stock P/E 9.23
  • Book Value ₹ 107
  • Dividend Yield 1.56 %
  • ROCE 20.7 %
  • ROE 17.2 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.90 times its book value

Cons

  • The company has delivered a poor sales growth of 7.66% over past five years.
  • Earnings include an other income of Rs.32.83 Cr.
  • Dividend payout has been low at 11.89% of profits over last 3 years
  • Debtor days have increased from 101.41 to 124.22 days.

Peer comparison

Sector: Readymade Garments/ Apparells Industry: Textiles - Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
131 123 168 136 180 146 196 251 146 90 133 121
113 95 132 111 136 115 157 198 136 68 105 93
Operating Profit 18 28 36 25 44 30 39 53 11 22 28 28
OPM % 14% 22% 21% 19% 24% 21% 20% 21% 7% 24% 21% 23%
Other Income 1 9 13 4 2 1 13 8 22 4 4 2
Interest 1 0 1 1 1 1 1 2 2 1 1 0
Depreciation 6 7 7 7 7 7 7 7 6 7 6 5
Profit before tax 12 30 41 21 37 23 44 52 24 19 25 25
Tax % 12% 38% 37% 42% 35% 38% 12% 30% 21% 26% 24% 31%
Net Profit 10 19 26 12 24 15 38 37 19 14 19 17
EPS in Rs 1.55 2.79 3.93 1.86 3.66 2.18 5.77 5.50 2.89 2.12 2.89 2.53
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
182 247 242 312 317 442 511 546 546 557 607 739 490
164 224 208 253 255 345 340 357 376 423 468 607 401
Operating Profit 18 24 34 59 62 97 171 189 170 134 139 132 89
OPM % 10% 10% 14% 19% 19% 22% 34% 35% 31% 24% 23% 18% 18%
Other Income 20 26 19 6 4 13 13 20 3 2 22 44 33
Interest 16 15 15 19 13 12 21 16 9 6 4 7 4
Depreciation 6 7 7 7 9 10 21 21 22 23 27 26 24
Profit before tax 16 28 31 40 44 88 142 171 142 107 130 143 93
Tax % 38% 33% 34% 32% 33% 35% 30% 34% 35% 35% 37% 24%
Net Profit 10 18 21 27 29 57 99 112 92 70 81 109 69
EPS in Rs 1.50 2.78 3.10 4.08 4.42 8.63 14.82 16.86 13.87 10.53 12.25 16.34 10.43
Dividend Payout % 12% 8% 9% 11% 13% 8% 6% 6% 8% 14% 12% 9%
Compounded Sales Growth
10 Years:12%
5 Years:8%
3 Years:11%
TTM:-37%
Compounded Profit Growth
10 Years:19%
5 Years:2%
3 Years:6%
TTM:-39%
Stock Price CAGR
10 Years:13%
5 Years:-21%
3 Years:-26%
1 Year:6%
Return on Equity
10 Years:23%
5 Years:19%
3 Years:16%
Last Year:17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
5 5 5 5 5 5 5 5 5 7 7 7 7
Reserves 34 50 69 93 118 169 259 363 451 510 585 669 702
Borrowings 138 70 108 102 101 134 161 110 8 8 90 96 7
37 58 68 69 71 95 110 101 102 93 104 97 89
Total Liabilities 214 183 250 267 295 404 535 579 566 617 786 868 804
123 119 122 123 117 181 188 173 173 172 164 169 160
CWIP 1 1 1 0 2 1 0 1 16 34 40 21 20
Investments -0 -0 -0 -0 -0 -0 -0 5 12 27 29 35 35
90 63 127 144 175 222 347 400 366 385 552 643 588
Total Assets 214 183 250 267 295 404 535 579 566 617 786 868 804

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
1 87 -16 63 24 115 128 135 45 29 10 59
-15 -2 -11 -7 -5 -72 -30 -10 -41 -51 -80 -34
9 -81 24 -27 -15 18 2 -78 -120 -15 72 -25
Net Cash Flow -5 4 -2 29 4 62 101 47 -116 -38 1 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 20% 29% 30% 31% 27% 38% 45% 42% 32% 23% 22% 21%
Debtor Days 111 8 59 37 58 44 45 64 88 81 99 124
Inventory Turnover 5.56 6.17 3.59 3.43 3.66 8.91 20.78 18.91 8.00 3.72 2.51 2.69

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
54.82 54.87 54.96 55.27 55.27 55.46 55.57 55.57 55.57 55.57 55.57 55.57
4.71 2.40 1.80 1.58 1.63 1.45 0.10 0.11 0.10 0.10 0.10 0.10
0.15 0.13 0.11 0.11 0.10 0.11 0.03 0.11 0.13 0.00 0.00 0.00
40.32 42.60 43.13 43.04 43.00 42.98 44.30 44.20 44.20 44.33 44.33 44.33

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