Kitex Garments Ltd

₹ 194 -0.74%

19 Apr - close price

kitexgarments.com BSE: 521248 NSE : KITEX

About

Kitex Garments Limited was incorporated in 1992 and is promoted by Mr. Sabu M Jacob. The company exports cotton and organic cotton garments especially infant wear to US and European markets^[1]

Key Points

Market Position
Kitex Garments Ltd. (KGL) is the world’s second largest manufacturer of cotton and organic cotton ready-to-wear garments for infants and children in the age group of 0-24 months. ^[1]

Website BSE NSE

Market Cap ₹ 1,287 Cr.
Current Price ₹ 194
High / Low ₹ 288 / 152
Stock P/E 33.0
Book Value ₹ 131
Dividend Yield 0.77 %
ROCE 8.87 %
ROE 6.81 %
Face Value ₹ 1.00

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Pros

Cons

The company has delivered a poor sales growth of -0.01% over past five years.
Company has a low return on equity of 10.5% over last 3 years.
Company might be capitalizing the interest cost
Earnings include an other income of Rs.28.1 Cr.
Dividend payout has been low at 14.6% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Readymade Garments/ Apparells Industry: Textiles - Products

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	121	112	154	178	203	254	249	142	68	98	146	134	164
	93	93	126	140	154	198	208	114	70	104	132	115	132
Operating Profit	28	18	28	38	49	55	42	27	-2	-6	14	19	33
OPM %	23%	16%	18%	21%	24%	22%	17%	19%	-2%	-7%	10%	14%	20%
	1	2	5	3	5	14	15	9	3	17	2	6	2
Interest	0	1	0	0	0	3	1	1	2	0	1	2	2
Depreciation	5	5	5	5	5	5	5	5	5	5	5	5	5
Profit before tax	23	14	28	35	49	60	50	30	-5	5	10	19	28
Tax %	33%	42%	27%	27%	29%	27%	26%	27%	19%	45%	24%	29%	47%
	16	8	21	26	35	44	37	22	-4	3	8	13	15
EPS in Rs	2.34	1.24	3.08	3.87	5.22	6.65	5.51	3.26	-0.61	0.51	1.18	2.00	2.27
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	511	546	546	557	607	739	455	788	557	542
	340	357	376	423	468	607	355	618	496	482
Operating Profit	171	189	170	134	139	132	100	171	61	60
OPM %	34%	35%	31%	24%	23%	18%	22%	22%	11%	11%
	13	20	3	2	22	39	4	27	44	28
Interest	21	16	9	6	4	7	3	4	4	5
Depreciation	21	21	22	23	27	26	23	21	21	21
Profit before tax	142	171	142	107	130	138	79	173	79	62
Tax %	30%	34%	35%	35%	37%	25%	31%	28%	28%
	99	110	83	64	71	103	54	125	57	39
EPS in Rs	14.82	16.49	12.55	9.56	10.74	15.54	8.16	18.82	8.65	5.96
Dividend Payout %	6%	6%	9%	16%	14%	10%	18%	8%	17%

Compounded Sales Growth
10 Years:	%
5 Years:	0%
3 Years:	-9%
TTM:	-24%

Compounded Profit Growth
10 Years:	%
5 Years:	-2%
3 Years:	-18%
TTM:	-60%

Stock Price CAGR
10 Years:	8%
5 Years:	14%
3 Years:	26%
1 Year:	22%

Return on Equity
10 Years:	%
5 Years:	12%
3 Years:	10%
Last Year:	7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	5	5	5	7	7	7	7	7	7	7
Reserves	259	360	440	492	557	635	689	806	852	863
	161	110	8	8	90	96	0	73	25	341
	110	101	102	93	104	98	92	108	251	284
Total Liabilities	535	576	555	600	758	835	787	994	1,134	1,495
	188	173	173	172	214	234	227	243	264	254
CWIP	0	1	16	34	40	21	20	12	292	494
Investments	0	2	1	9	0	0	0	0	0	0
	347	400	366	385	503	581	540	739	578	747
Total Assets	535	576	555	600	758	835	787	994	1,134	1,495

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	128	135	45	29	9	51	116	-10	295
	-30	-10	-41	-51	-79	-26	-8	-46	-415
	2	-78	-120	-15	72	-25	-99	60	57
Net Cash Flow	101	47	-116	-38	1	0	10	4	-62

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	45	64	88	81	99	124	142	145	133
Inventory Days	20	22	76	148	191	148	252	154	161
Days Payable	34	72	85	72	62	54	77	61	58
Cash Conversion Cycle	30	15	79	157	228	218	317	238	237
Working Capital Days	24	31	99	138	188	184	242	211	193
ROCE %		42%	33%	24%	23%	21%	11%	22%	9%

Shareholding Pattern

Numbers in percentages

4 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	55.57%	55.57%	56.42%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%
	0.00%	0.03%	0.37%	0.75%	1.02%	0.74%	0.71%	0.69%	0.68%	0.66%	0.84%	0.97%
	44.42%	44.39%	43.21%	42.59%	42.32%	42.60%	42.64%	42.65%	42.67%	42.68%	42.50%	42.38%
No. of Shareholders	36,638	59,884	51,995	58,352	59,542	58,839	57,826	57,230	56,305	54,752	52,657	54,361

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	54.24%	54.80%	55.27%	55.57%	55.57%	56.66%	56.66%	56.66%
	4.80%	4.93%	1.58%	0.11%	0.10%	0.75%	0.69%	0.97%
	0.35%	0.05%	0.11%	0.11%	0.00%	0.00%	0.00%	0.00%
	40.60%	40.21%	43.04%	44.20%	44.33%	42.59%	42.65%	42.38%
No. of Shareholders	29,122	37,134	35,989	32,947	36,830	58,352	57,230	54,361

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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