Kitex Garments Ltd

₹ 667 5.00%

21 Nov - 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 between 0-24 months. ^[1]

Website BSE NSE

Market Cap ₹ 4,436 Cr.
Current Price ₹ 667
High / Low ₹ 679 / 177
Stock P/E 38.0
Book Value ₹ 154
Dividend Yield 0.22 %
ROCE 10.8 %
ROE 7.30 %
Face Value ₹ 1.00

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Pros

Company is expected to give good quarter

Cons

Stock is trading at 4.34 times its book value
The company has delivered a poor sales growth of 0.33% over past five years.
Company has a low return on equity of 9.80% over last 3 years.
Dividend payout has been low at 13.1% of profits over last 3 years
Company has high debtors of 152 days.

* 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

Part of BSE Allcap BSE Consumer Discretionary BSE SmallCap

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	178	203	254	249	142	68	98	146	134	164	173	190	216
	140	154	198	207	114	69	102	131	114	131	138	149	160
Operating Profit	38	49	55	42	27	-1	-4	14	20	33	35	42	56
OPM %	21%	24%	22%	17%	19%	-2%	-4%	10%	15%	20%	20%	22%	26%
	4	5	14	15	9	3	16	2	6	8	9	5	5
Interest	0	0	3	1	1	2	0	1	2	2	3	2	3
Depreciation	5	5	5	5	5	5	5	5	5	5	5	5	4
Profit before tax	37	49	60	50	30	-5	7	10	19	34	36	40	54
Tax %	26%	29%	27%	26%	16%	41%	37%	23%	29%	38%	28%	24%	25%
	27	35	44	37	25	-7	4	8	13	21	26	30	40
EPS in Rs	4.10	5.22	6.67	5.53	3.77	-1.00	0.63	1.20	1.99	3.16	3.91	4.50	6.01
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	317	442	511	546	546	557	607	739	455	788	557	617	744
	255	345	340	357	376	423	468	607	355	617	493	514	578
Operating Profit	62	97	171	189	170	134	139	132	100	171	64	102	166
OPM %	19%	22%	34%	35%	31%	24%	23%	18%	22%	22%	11%	17%	22%
	4	13	13	20	3	2	22	44	10	30	43	25	27
Interest	13	12	21	16	9	6	4	7	3	4	4	7	10
Depreciation	9	10	21	21	22	23	27	26	23	21	21	21	19
Profit before tax	44	88	142	171	142	107	130	143	85	176	81	99	163
Tax %	33%	35%	30%	34%	35%	35%	37%	24%	29%	27%	27%	31%
	29	57	99	112	92	70	81	109	60	128	59	68	117
EPS in Rs	4.42	8.63	14.82	16.86	13.87	10.53	12.25	16.34	9.01	19.29	8.94	10.25	17.58
Dividend Payout %	13%	8%	6%	6%	8%	14%	12%	9%	17%	8%	17%	15%

Compounded Sales Growth
10 Years:	3%
5 Years:	0%
3 Years:	11%
TTM:	67%

Compounded Profit Growth
10 Years:	2%
5 Years:	-4%
3 Years:	4%
TTM:	523%

Stock Price CAGR
10 Years:	6%
5 Years:	48%
3 Years:	59%
1 Year:	221%

Return on Equity
10 Years:	15%
5 Years:	11%
3 Years:	10%
Last Year:	7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	5	5	5	5	5	7	7	7	7	7	7	7	7
Reserves	118	169	259	363	451	510	585	669	729	848	898	956	1,016
	101	134	161	110	8	8	90	96	0	73	25	77	132
	71	95	110	101	102	93	104	97	92	108	80	106	158
Total Liabilities	295	404	535	579	566	617	786	868	827	1,036	1,010	1,146	1,313
	117	181	188	173	173	172	164	169	152	152	134	114	106
CWIP	2	1	0	1	16	34	40	21	20	12	20	26	31
Investments	0	0	0	5	12	27	29	35	35	33	298	333	397
	175	222	347	400	366	385	552	643	620	840	557	672	779
Total Assets	295	404	535	579	566	617	786	868	827	1,036	1,010	1,146	1,313

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	24	115	128	135	45	29	10	59	116	-9	242	-30
	-5	-72	-30	-10	-41	-51	-80	-34	-8	-47	-244	-2
	-15	18	2	-78	-120	-15	72	-25	-99	60	-63	37
Net Cash Flow	4	62	101	47	-116	-38	1	-0	10	3	-65	5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	58	44	45	64	88	81	99	124	142	145	133	152
Inventory Days	101	17	20	22	76	148	191	148	252	154	161	235
Days Payable	51	38	34	72	85	72	62	54	77	61	57	75
Cash Conversion Cycle	109	23	30	15	79	157	228	218	317	238	237	312
Working Capital Days	71	23	24	31	99	138	188	185	242	217	200	241
ROCE %	27%	38%	45%	42%	32%	23%	22%	21%	12%	22%	9%	11%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	56.42%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%
	0.37%	0.75%	1.02%	0.74%	0.71%	0.69%	0.68%	0.66%	0.84%	0.97%	0.82%	0.74%
	43.21%	42.59%	42.32%	42.60%	42.64%	42.65%	42.67%	42.68%	42.50%	42.38%	42.52%	42.61%
No. of Shareholders	51,995	58,352	59,542	58,839	57,826	57,230	56,305	54,752	52,657	54,361	53,487	55,863

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	54.24%	54.80%	55.27%	55.57%	55.57%	56.66%	56.66%	56.66%	56.66%
	4.80%	4.93%	1.58%	0.11%	0.10%	0.75%	0.69%	0.97%	0.74%
	0.35%	0.05%	0.11%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%
	40.60%	40.21%	43.04%	44.20%	44.33%	42.59%	42.65%	42.38%	42.61%
No. of Shareholders	29,122	37,134	35,989	32,947	36,830	58,352	57,230	54,361	55,863

* 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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