Overview

Detailed Summary

Kitex Garments Limited (KGL) is a leading Indian apparel manufacturer and exporter specializing in knitted garments for infants and kids, primarily exporting to major US and European markets.
KGL has a competitive advantage through its advanced manufacturing facilities equipped with modern technologies like robotized yarn dyeing, computerized precision cutting, and EDI capabilities.
The company's strategic location near Kochi offers direct logistic connectivity internationally, supported by the India Gateway Terminal, enhancing efficiency and reducing costs.
Kitex operates a vertically integrated manufacturing plant, enabling streamlined production processes from fabrics to finished garments, enhancing their product offerings in the global market.

Sector: Textiles & Apparels
Industry: Garments & Apparels
Market Cap: 3,299 Cr
Volatility: High Risk
P/E Ratio: 77.1
Industry P/E: 25.2
PEG Ratio: 12.8
P/B Ratio: 3.2
52W High: 320.95
52W Low: 138.45

Sales CAGR

1Y: 59.31%
3Y: 7.63%
5Y: 5.86%
10Y: 6.75%

Profit CAGR

1Y: 143.15%
3Y: 6.04%
5Y: 7.07%
10Y: 3.51%

ROE

TTM: 7.65%
3Y: 7.85%
5Y: 9.14%
10Y: 11.96%

ROCE

TTM: 5.47%
3Y: 7.47%
5Y: 9.60%
10Y: 14.72%

Technicals

‌

Forecasts

Peers

Consumer Discretionary Textiles Textiles & Apparels Garments & Apparels

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GOKEX	580.00	4,231 Cr	37.62	1.96	0.17	7.09	9.76	3.00
KITEX	165.70	3,299 Cr	77.07	3.17	0.30	7.65	5.47	1.02
KKCL	460.00	2,836 Cr	20.32	3.09	0.43	15.19	19.37	9.53
LUXIND	861.65	2,594 Cr	23.99	1.46	0.24	7.16	8.44	3.61
CANTABIL	250.75	2,096 Cr	23.54	5.12	0.40	19.13	15.07	8.30
SPAL	698.75	1,757 Cr	15.48	1.96	0.00	12.32	14.42	7.43
SBC	32.05	1,528 Cr	50.87	21.66	0.00	31.90	11.27	8.75
Median: 7 Co.	460.00	2,594 Cr	23.99	3.09	0.24	12.32	11.27	7.43

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	134	164	173	190	216	276	300	197	122	182
Expenses	115	132	139	150	161	222	249	163	138	174
Operating Profit	19	33	35	40	55	54	51	34	-16	8.49
OPM %	14.50	19.85	19.94	21.20	25.40	19.69	17.04	17.38	-13.08	4.67
Other Income	6.12	2.50	3.24	2.71	3.10	8.04	4.68	0.72	30	5.01
Interest	1.75	1.89	2.84	2.09	3.41	3.53	4.98	3.54	8.24	13
Depreciation	5.14	5.20	5.08	4.69	4.23	3.66	3.16	3.17	7.98	13
Profit Before Tax	19	28	30	36	50	55	48	28	-2.30	-12
Tax %	28.67	46.54	33.83	26.52	26.98	26.66	33.28	31.52	-170.43	-37.43
Net Profit	13	15	20	27	37	41	32	19	-6.22	-17
EPS in Rs	0.67	0.75	1.01	1.37	1.87	2.06	1.66	1.04	-0.08	-0.47

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	546	557	607	739	455	788	557	617	983	989
Expenses	376	423	468	607	355	618	496	516	782	794
Operating Profit	170	134	139	132	100	171	61	101	201	195
OPM %	31.11	24.05	22.85	17.88	22.02	21.66	10.93	16.29	20.43	19.67
Other Income	3.46	2.67	22	39	4.31	27	44	14	19	17
Interest	9.27	5.81	3.88	7.02	2.56	3.62	4.47	7.33	14	15
Depreciation	22	23	27	26	23	21	21	21	16	14
Profit Before Tax	142	107	130	138	79	173	79	87	190	181
Tax %	35.15	34.86	37.49	25.02	31.23	27.50	28.18	35.62	28.38	29.25
Net Profit	92	70	81	103	54	125	57	56	136	128
EPS in Rs	—	—	2.91	5.18	2.72	6.27	2.85	2.82	6.96	2.15
Dividend Payout %	8.54	15.69	13.97	9.65	18.38	7.97	17.34	17.71	7.19	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.75	4.75	6.65	6.65	6.65	6.65	6.65	6.65	6.65	20
Reserves	360	440	492	557	635	689	806	852	898	1,013
Borrowings	92	3.14	0.92	87	96	0.00	73	25	681	1,082
Other Liabilities	120	107	100	108	98	92	108	251	339	471
Total Liabilities	576	555	600	758	835	787	994	1,134	1,925	2,587
Fixed Assets	173	173	172	214	234	227	243	264	244	232
CWIP	1.24	16	34	40	21	20	12	292	886	1,391
Investments	2.21	0.65	9.02	0.07	0.02	0.03	0.02	0.03	0.09	0.07
Other Assets	400	366	385	503	581	540	739	578	795	964
Total Assets	576	555	600	758	835	787	994	1,134	1,925	2,587

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity	128	135	45	29	8.56	51	116	-9.93	295	-38
Cash from Investing Activity	-30	-10	-34	-52	-78	-29	-8.41	-48	-414	-607
Cash from Financing Activity	2.39	-78	-120	-15	72	-25	-99	60	57	650
Net Cash Flow	101	47	-110	-39	2.64	-2.26	8.93	1.89	-62	4.23

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Jan 2025	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%
FIIs	0.68%	0.66%	0.84%	0.96%	0.82%	0.74%	1.10%	0.97%	0.90%	0.93%	1.16%	0.91%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.40%	0.60%	0.87%	0.90%	0.34%	0.16%
Public	42.66%	42.68%	42.50%	42.38%	42.52%	42.60%	41.84%	41.77%	41.58%	41.51%	41.84%	42.28%
Total Shareholders	56,305	54,752	52,657	54,361	53,487	55,863	68,465	72,787	79,057	84,159	98,214	97,407

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