Kitex Garments Ltd.

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kitexgarments.comBSE: 521248NSE: KITEX

Market Cap₹ 2,535 Cr.

Current Price

High / Low₹ 233 / 123

Stock P/E60.3

Book Value₹ 58

Price to Book2.46

Dividend Yield0.39 %

ROCE7.2 %

ROE5.0 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2017 • Garments: 67.0% • Fabric: 33.0%

AI Sector View

AI GENERATED

Textiles

Hold

This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.

Confidence

50%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.10x)
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position

CONS

Recent results are weak - TTM profit is down 66.0% versus prior year
A large part of profit comes from other income (57.2% of PBT)
Company has a low return on equity of 9.0% over last 3 years
Valuation is stretched - P/E of 60.3 is well above its own 5-year median (23.4)
Contingent liabilities are large at 62.7% of net worth
Company has delivered a poor profit growth of -1.0% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

TextilesTextileTextile

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	PAGEIND	35260.05	52.03	39328.62	1.56	192.81	-3.98	1420.45	7.89	73.60	20.35
2.	KPRMILL	1140.10	42.71	38970.21	0.44	258.54	21.55	1935.52	14.77	20.16	19.37
3.	WELSPUNLIV	210.60	71.67	19896.49	0.05	162.61	82.09	2795.45	23.66	6.41	11.53
4.	VTL	583.00	19.91	16882.33	0.86	314.56	51.46	2703.08	13.31	8.91	18.11
5.	ARVIND	571.85	37.56	15556.64	0.79	57.77	5.61	2500.96	24.65	15.30	9.64
6.	MANYAVAR	581.80	35.09	14136.47	1.33	66.90	37.31	267.95	22.74	29.45	45.53
7.	PGIL	2279.00	33.92	10526.82	0.64	99.23	51.37	1528.26	24.46	22.42	10.72
8.	ICIL	445.05	58.42	8814.41	0.34	63.22	67.28	1206.96	25.89	8.73	11.88
9.	SWANCORP	277.65	38.93	8703.13	0.05	-35.99	-233.33	1013.75	-16.44	4.50	-0.38
10.	GARFIBRES	815.65	37.92	7964.69	1.10	64.60	21.56	482.37	31.35	20.98	18.70
11.	KUSUMGAR	564.55	60.36	5927.29	0.00	426.47	—	2472.47	—	26.15	30.50
12.	KITEX	127.05	60.34	2534.65	0.39	-17.12	-188.69	158.43	-19.45	2.54	6.43

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	146	134	164	173	190	216	276	300	197	120	164	111	1,210
	131	114	131	138	149	160	223	252	160	132	151	105	1,140
Operating Profit	14	20	33	35	42	56	54	48	37	-12	13	6	70
OPM %	9.94%	14.89%	20.15%	20.19%	21.93%	26.00%	19.47%	16.05%	18.82%	-9.74%	8.10%	5.25%	5.77%
	2	6	8	9	5	5	12	15	5	34	9	15	79
Interest	1	2	2	3	2	3	4	5	4	4	4	4	30
Depreciation	5	5	5	5	5	4	4	3	3	3	3	3	29
Profit before Tax	10	19	34	36	40	54	58	55	35	15	15	14	149
Tax %	23.32%	28.81%	38.30%	27.97%	24.33%	25.36%	25.32%	28.60%	25.44%	26.50%	30.89%	30.19%	25.24%
Net Profit	8	13	21	26	30	40	43	40	26	11	10	10	112
	1.20	1.99	3.16	1.30	4.50	6.01	6.53	1.99	1.31	0.55	0.52	0.48	0.56

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	546	557	607	739	455	788	557	617	983	592	516
	376	423	468	607	355	617	493	514	782	547	502
Operating Profit	170	134	139	132	100	171	64	102	201	45	14
OPM %	31.11%	24.05%	22.89%	17.90%	22.04%	21.68%	11.49%	16.61%	20.46%	7.60%	2.79%
	3	3	22	44	10	30	43	25	37	62	66
Interest	9	6	4	7	3	4	4	7	15	17	16
Depreciation	22	23	27	26	23	21	21	21	16	12	12
Profit before Tax	142	107	130	143	85	176	81	99	207	79	58
Tax %	35.15%	34.86%	37.43%	24.10%	29.40%	27.02%	27.02%	31.18%	26.02%	27.52%	28.17%
Net Profit	92	70	81	109	60	128	59	68	153	57	42
EPS	13.87	10.64	12.25	16.34	9.01	19.29	8.94	10.25	7.67	2.85	—
Dividend Payout %	7.73%	14.25%	12.25%	9.18%	16.65%	7.78%	16.79%	14.63%	6.52%	17.53%	—

COMPOUNDED SALES GROWTH

10 Years:: 1%
5 Years:: 5%
3 Years:: 2%

COMPOUNDED PROFIT GROWTH

10 Years:: -7%
5 Years:: -1%
3 Years:: -1%

STOCK PRICE CAGR

10 Years:: 1%
5 Years:: 17%
3 Years:: 23%
1 Year:: -36%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 10%
3 Years:: 9%
Last Year:: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5	7	7	7	7	7	7	7	20	20
	451	510	585	669	729	848	898	956	1,086	1,134
	13	9	93	102	4	77	27	86	163	208
Trade Payables	45	43	42	47	41	62	42	52	74	41
	52	50	134	118	108	106	52	61	83	46
Total Liabilities	566	617	861	942	889	1,099	1,026	1,163	1,426	1,449
	173	172	164	169	152	152	134	114	102	92
Capital Work in Progress	14	32	38	20	20	12	20	26	34	43
	12	27	29	35	35	33	298	333	455	574
	40	88	129	130	134	155	117	164	189	130
	0	0	0	0	0	0	0	257	340	122
Cash & Bank	135	97	99	107	151	133	83	66	62	127
	193	203	402	480	397	615	373	203	244	360
Total Assets	566	617	861	942	889	1,099	1,026	1,163	1,426	1,449

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	103	74	47	111	136	40	271	-30	78	257
Cash from Investing	-34	-52	-79	-37	-9	-49	-243	-2	-151	-223
Cash from Financing	-120	-15	72	-25	-99	60	-63	37	62	22
	-110	-39	3	-3	9	2	-64	5	-11	56

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	56.66	56.66	56.66	56.66	56.66	56.66	56.66	56.66	56.66
	0.82	0.74	1.10	0.90	0.93	1.16	0.90	0.88	1.21
	0.00	0.00	0.40	0.87	0.90	0.34	0.16	0.13	0.12
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	42.52	42.60	41.84	41.58	41.51	41.84	42.28	42.33	42.02

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Clarification - Financial Results

2026-09-08 - The Exchange has sought clarification from Kitex Garments Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.

2026-09-05

Copy of Newspaper Publication

2026-09-05 - Kitex Garments Limited has informed the Exchange about Copy of Newspaper Publication regarding transfer and dematerialisation of physical shares

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Kitex Garments Limited has informed the Exchange about Copy of Newspaper Publication of Notice of 34th Annual General Meeting of the Company

2026-09-03

Shareholders meeting

2026-09-03 - Kitex Garments Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Kitex Garments Limited has informed the Exchange about Copy of Newspaper Publication of 34th Annual General Meeting of the Company

2026-08-31

Record Date

2026-08-31 - Kitex Garments Limited has informed the Exchange that Record date for the purpose of Dividend is 18-Sep-2026.

2026-08-31

General Updates

2026-08-31 - Kitex Garments Limited has informed the Exchange about date of 34th Annual General Meeting of the Company

2026-08-28

Credit Rating- Revision

2026-08-28 - Kitex Garments Limited has informed the Exchange about Credit Rating- Reason for downward revision

2026-08-27

Credit Rating

2026-08-27 - Kitex Garments Limited has informed the Exchange about Credit Rating

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