Small Textiles

Kitex Garments Ltd.

KITEX

₹265.1

4.99% (12.6)

Market Cap

₹5,289 Cr.

P/E

38.12

Kitex Garments Ltd.

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Kitex Garments Ltd. Shareprice

Has the share price of Kitex Garments grown faster than its competition?

Kitex Garments has given lower returns compared to its competitors.
Kitex Garments has grown at ~13.22% over the last 8yrs while peers have grown at a median rate of 30.41%

Is Kitex Garments stock expensive?

Yes, Kitex Garments is expensive.
Latest PE of Kitex Garments is 36.31, while 3 year average PE is 21.63.
Also latest EV/EBITDA of Kitex Garments is 30.14 while 3yr average is 19.49.

View FAQ's On Business

Growth Table

Kitex Garments Ltd.
PDS
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Gokaldas Exports
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	276	118	54.10	60.43	47.70	40.68	27.02	13.92	9.79	1.43
TTM EPS CAGR	159	58.99	4.12	23.27	7.04	11.99	12.38	6.00	3.22	3.96
Sales CAGR	56.31	32.83	7.63	21.21	5.86	8.37	8.44	7.63	6.75	6.76
PAT Margin (Abs Growth)	-1.17	-6.82	-2.87	-4.93	-4.34	-3.52	-7.84	-11.49	-10.21	-3.91
PE CAGR	45.53	36.95	48.00	30.14	37.98	25.62	13.03	7.47	6.36	-2.43
CFO CAGR	-113	96.24	—	—	—	—	—	—	—	—

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Kitex Garments Ltd.
PDS
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Gokaldas Exports
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	576	555	600	833	909	850	1,056	1,150	1,943	2,587
Non Current Assets	164	182	207	253	273	258	309	669	1,341	1,862
Net Block	173	173	172	214	234	227	243	264	244	232
Capital Work in Progress	1.24	15.65	34.02	39.87	20.63	20.09	11.62	292	886	1,391
Intangible Assets Under Development	1.10	1.98	2.00	2.23	0.32	0.01	—	—	—	—
Long Term Investments	2.21	0.65	9.02	0.07	0.02	0.03	0.02	0.03	0.09	0.07
Current Assets	391	355	377	566	630	586	742	477	599	724
Inventory	13.02	40.50	87.82	129	130	134	155	117	164	191
Accounts Receivable	96.01	131	123	165	252	178	314	203	257	340
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Cash & Bank Balances	250	135	96.87	98.95	107	151	134	101	69.23	67.70
Liabilities	576	555	600	833	909	850	1,056	1,150	1,943	2,587
Shareholders Funds	365	445	499	563	641	696	812	858	905	1,033
Share Capital	4.75	4.75	6.65	6.65	6.65	6.65	6.65	6.65	6.65	19.95
Reserves	360	440	492	557	635	689	806	852	898	1,013
Non Current Liabilities	33.47	37.99	31.36	27.86	22.71	21.07	18.84	65.81	731	1,090
Secured Loans	8.29	3.14	0.63	—	—	—	—	—	605	—
Unsecured Loans	—	—	—	—	—	—	—	—	—	920
Current Liabilities	178	72.16	69.89	241	245	133	225	107	179	287
Accounts Payable	41.59	45.35	42.52	42.11	47.32	41.33	61.61	41.80	55.10	77.37
Short Term Loans	83.52	—	0.29	86.68	96.13	—	73.07	25.00	76.52	163

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Kitex Garments Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	546	546	557	607	739	455	788	557	617	983
Operating Expenses	357	376	423	468	607	355	618	496	516	782
Raw Material	214	211	254	283	317	195	374	240	297	439
Material Cost (%)	38.75	35.76	38.88	40.60	43.49	42.79	46.61	47.49	41.36	42.98
Employee Cost	74.61	84.31	92.61	105	121	77.26	114	109	119	159
Power & Fuel Cost	17.54	18.85	22.07	25.57	26.89	19.28	31.65	28.76	32.93	—
Operating Profit	189	170	134	139	132	100	171	60.88	101	201
Other Income	19.82	3.46	2.67	22.47	39.19	4.31	26.89	44.06	14.25	18.54
OPM (%)	34.57	31.11	24.05	22.85	17.88	22.02	21.66	10.93	16.29	20.43
Depreciation and Amortisation	21.27	21.83	23.40	27.26	26.45	23.10	21.44	21.21	20.71	15.74
Interest	16.15	9.27	5.81	3.88	7.02	2.56	3.62	4.47	7.33	14.02
Profit Before Tax	171	142	107	130	138	78.92	173	79.26	86.72	190
Tax	58.96	49.99	37.47	48.73	34.50	24.65	47.46	22.33	30.89	53.80
Net Profit	110	83.46	63.55	71.45	103	54.27	125	56.29	55.33	136
Number of shares(Crs)	4.75	4.75	6.65	6.65	6.65	6.65	6.65	6.65	6.65	—
Dividend Payout Ratio(%)	6.50	8.54	15.70	13.96	9.65	18.38	7.97	17.72	18.03	—

TTM Values as of Mar 2025

Cash Flow

Kitex Garments Ltd.
PDS
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	135	44.66	28.62	8.56	51.19	116	-9.93	295	-38.26	54.28
Profit Before Tax	171	142	107	130	138	78.92	173	79.26	86.72	190
Adjustments	37.31	35.81	29.43	27.75	17.66	18.57	9.53	23.13	22.16	34.62
OCF Before Working Capital	208	178	137	158	156	97.49	182	102	109	224
Working Capital Changes	-21.56	-74.98	-62.53	-112	-51.85	38.41	-143	222	-122	-120
Taxes Paid	-51.71	-58.38	-45.77	-36.86	-52.48	-19.80	-49.22	-28.85	-24.87	-49.97
Cash from Investing Activity	-10.03	-34.45	-52.02	-77.99	-28.62	-8.41	-48.08	-414	-607	-455
Net Fixed Assets Purchased	-5.78	-27.69	-37.63	-77.06	-29.06	-9.53	-26.88	-416	-617	-505
Fixed Assets Purchased	-6.04	-28.08	-39.44	-77.57	-29.21	-9.53	-27.11	-416	-617	-505
Fixed Assets Sold	0.26	0.39	1.82	0.51	0.15	—	0.23	—	0.12	0.30
Investment Purchased	-4.61	-7.09	-14.76	-1.30	—	—	—	—	—	—
Investment Sold	—	—	—	—	—	—	—	—	—	—
Interest Recieved	0.36	0.33	0.37	0.36	0.43	1.12	1.62	3.39	1.64	1.71
Dividends Recieved	0.00	—	—	—	—	—	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	-78.42	-120	-15.13	72.07	-24.82	-98.77	59.91	57.02	650	390
Proceeds From Shares	—	—	—	—	—	—	—	—	—	—
Net Long Term Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	413
Proceeds From Borrowings	—	—	—	—	—	—	—	—	—	413
Repayment From Borrowings	—	—	—	—	—	—	—	—	—	—
Interest Paid	-16.09	-9.47	-4.67	-3.92	-7.05	-2.54	-3.18	-4.91	-4.61	-13.05
Dividend Paid	-11.19	-8.65	-10.19	-6.00	-23.89	-0.11	-9.98	-10.05	-10.03	-9.99
Net Cash Flow	46.66	-110	-38.54	2.64	-2.26	8.93	1.89	-61.55	4.23	-10.16
Opening Cash & Cash Equivalents	203	246	130	92.68	94.06	94.54	104	108	45.52	49.81
Effect of FX	—	-6.05	0.74	-1.25	2.74	0.86	1.63	-0.77	0.06	-0.25
Closing Cash & Cash Equivalents	250	130	92.68	94.06	94.54	104	108	45.52	49.81	39.40
Net Capex (est)	5.78	27.69	37.63	77.06	29.06	9.53	26.88	416	617	505
Free Cash Flow (est)	129	16.96	-9.01	-68.50	22.13	107	-36.81	-121	-655	-451

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Kitex Garments Ltd.
PDS
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Gokaldas Exports
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	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	2.13	4.36	4.14	1.81	2.04	3.40	2.61	3.36	2.42
Liquid Assets (Crs)	378	314	289	437	499	452	587	361	435
Current Liabilities (Crs)	178	72.16	69.89	241	245	133	225	107	179
Current Ratio	2.20	4.92	5.39	2.35	2.57	4.41	3.29	4.44	3.34
Current Assets (Crs)	391	355	377	566	630	586	742	477	599
Current Liabilities (Crs)	178	72.16	69.89	241	245	133	225	107	179
Interest Coverage Ratio	11.59	16.35	19.50	34.51	20.63	31.88	48.69	18.72	12.83
EBIT (Crs)	187	151	113	134	145	81.48	176	83.73	94.06
Interest Expenses (Crs)	16.15	9.27	5.81	3.88	7.02	2.56	3.62	4.47	7.33
Fixed Asset Turnover	2.03	2.81	2.60	2.14	2.24	1.31	2.06	1.31	1.45
Net Sales (Crs)	546	546	557	607	739	455	788	557	617
Fixed Assets (Crs)	268	195	215	284	330	346	383	425	426
Cash Conversion Cycle	1.13	12.55	51.25	89.20	116	195	130	187	150
Inventory Days	8.71	17.89	42.03	65.18	63.99	106	66.86	88.95	83.13
Days Receivable	64.20	75.94	83.24	86.71	103	172	114	170	136
Days Payable	71.78	81.28	74.01	62.69	50.77	83.02	51.13	71.34	69.31
Debt to Equity Ratio	0.30	0.02	0.02	0.16	0.15	0.00	0.09	0.03	0.75
Total Debt (Crs)	110	8.29	8.02	90.01	96.13	0.00	73.07	25.00	681
Shareholders Equity (Crs)	365	445	499	563	641	696	812	858	905
Free Cash Flow/Sales (%)	23.69	3.11	-1.62	-11.29	2.99	23.40	-4.67	-21.67	-106
Free Cash Flow(est) (Crs)	129	16.96	-9.01	-68.50	22.13	107	-36.81	-121	-655
Net Sales (Crs)	546	546	557	607	739	455	788	557	617
Profitability Ratios
Gross Margin (%)	61.25	64.24	61.12	59.40	56.51	57.21	53.39	52.51	58.64
Op Profit Margin (%)	34.57	31.11	24.05	22.85	17.88	22.02	21.66	10.93	16.29
Operating Profit (Crs)	208	173	137	161	171	105	198	105	115
Net Sales (Crs)	546	546	557	607	739	455	788	557	617
Net Profit Margin (%)	20.10	15.29	11.40	11.77	13.98	11.92	15.87	10.11	8.97
Net Profit (Crs)	110	83.46	63.55	71.45	103	54.27	125	56.29	55.33
Net Sales (Crs)	546	546	557	607	739	455	788	557	617
ROCE (%)	46.98	31.39	21.38	22.64	21.82	11.37	21.20	8.03	5.33
EBIT (Crs)	187	151	113	134	145	81.48	176	83.73	94.06
Capital Employed (Crs)	398	483	530	591	664	717	831	1,043	1,763
Return on Assets (%)	19.03	15.04	10.59	8.58	11.37	6.39	11.85	4.89	2.85
Net Profit (Crs)	110	83.46	63.55	71.45	103	54.27	125	56.29	55.33
Total Assets (Crs)	576	555	600	833	909	850	1,056	1,150	1,943
ROIC (%)	79.61	28.50	17.34	14.49	14.91	9.66	15.89	3.43	3.44
Op Profit after Taxes (Crs)	110	95.98	72.07	69.65	79.26	53.06	108	28.49	51.38
Invested Capital (Crs)	138	337	416	481	531	549	681	832	1,495
ROE (%)	30.05	18.77	12.74	12.68	16.12	7.80	15.41	6.56	6.12
Net Profit Margin (%)	20.10	15.29	11.40	11.77	13.98	11.92	15.87	10.11	8.97
Asset Turnover ratio	0.95	0.98	0.93	0.73	0.81	0.54	0.75	0.48	0.32
Equity Multiplier	1.58	1.25	1.20	1.48	1.42	1.22	1.30	1.34	2.15
Adjusted EPS	5.50	4.18	3.19	3.58	5.18	2.72	6.27	2.82	2.77
Valuation Ratios
P/E	18.91	24.39	23.47	9.49	5.55	12.12	13.25	16.16	21.95
Price to Book	5.68	4.58	2.99	1.20	0.89	0.95	2.04	1.06	1.34
EV/EBITDA	9.28	11.02	10.26	4.15	3.28	4.84	8.08	7.94	15.91
Dividend Yield (%)	0.34	0.35	0.67	1.47	1.74	1.52	0.60	1.10	0.82

Quarterly Results

Kitex Garments Ltd.
PDS
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Gokaldas Exports
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	68.22	97.71	146	146	164	173	190	216	276	300
Operating Expenses	69.76	104	132	132	132	139	150	161	222	249
Increase/Decrease in Stock	-8.95	-24.41	14.80	14.80	3.73	-40.53	-0.84	-29.68	1.32	12.40
Raw Material	37.71	69.50	66.51	66.51	60.56	106	78.71	110	110	140
Employee Cost	24.33	24.52	26.59	26.59	29.25	34.38	35.42	41.34	42.13	39.74
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	-1.54	-6.50	13.99	13.99	32.58	34.52	40.38	54.85	54.40	51.14
Other Income	3.43	17.13	2.38	2.38	2.50	3.24	2.71	3.10	8.04	4.68
Interest	1.86	0.09	0.85	0.85	1.89	2.84	2.09	3.42	3.53	4.98
PBDT	0.03	10.55	15.52	15.52	33.20	34.91	41.00	54.53	58.91	50.84
Depreciation and Amortization	5.23	5.14	5.29	5.29	5.20	5.08	4.69	4.23	3.66	3.16
Profit Before Tax	-5.20	5.40	10.24	10.24	28.00	29.83	36.31	50.30	55.24	47.68
Tax	-0.97	2.44	2.43	2.43	13.03	10.09	9.63	13.57	14.73	15.87
Profit After Tax	-4.22	2.97	7.81	7.81	14.97	19.75	26.68	36.73	40.51	31.82
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-4.08	3.36	7.86	7.86	15.07	20.13	27.32	37.34	41.03	33.05
Quarterly Ratios
EPS	-0.20	0.17	0.39	0.39	0.76	1.01	1.37	1.87	2.06	1.66
Operating Profit Margin	-2.26	-6.65	9.60	9.60	19.85	19.95	21.21	25.41	19.69	17.04
Net Profit Margin	-6.19	3.04	5.36	5.36	9.12	11.41	14.01	17.01	14.66	10.60

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

46.90%

Implied Growth Rate over a 5 year period*

17.00%

Implied Growth Rate over a 10 year period*

7.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on Kitex Garments Ltd. Financials

How strong is Kitex Garments balance sheet?

Balance sheet of Kitex Garments is strong.
It shouldn't have solvency or liquidity issues.

Is the debt of Kitex Garments increasing or decreasing?

Yes, The net debt of Kitex Garments is increasing.
Latest net debt of Kitex Garments is ₹1,015 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹543 Crs.

Is the profitablity of Kitex Garments improving?

The profit is oscillating.
The profit of Kitex Garments is ₹136 Crs for TTM, ₹55.33 Crs for Mar 2024 and ₹56.29 Crs for Mar 2023.

Does Kitex Garments pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Kitex Garments latest dividend payout ratio is 18.03% and 3yr average dividend payout ratio is 14.57%

How has Kitex Garments allocated its funds?

Companies resources are allocated to majorly unproductive assets like Capital Work in Progress

View FAQ's On Shareholding

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Kitex Garments Ltd.

Kitex Garments Ltd.

Has the share price of Kitex Garments grown faster than its competition?

Is Kitex Garments stock expensive?

How strong is Kitex Garments balance sheet?

Is the debt of Kitex Garments increasing or decreasing?

Is the profitablity of Kitex Garments improving?

Does Kitex Garments pay decent dividends?

How has Kitex Garments allocated its funds?

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