Fundamental Analysis of Kitex Garments Ltd

About the Company - Kitex Garments Ltd

Kitex Garments Ltd. is a Public Limited Listed company incorporated on 29/05/1992 and has its registered office in the State of Kerala, India. Company’s Corporate Identification Number(CIN) is L18101KL1992PLC006528 and registration number is 006528. Currently company belongs to the Industry of Textiles - Readymade Apparels. Company’s Total Operating Revenue is Rs. 788.33 Cr. and Equity Capital is Rs. 6.65 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Textiles - Readymade Apparels	P. B. No. 5, Kochi Kerala 683562	sect@kitexgarments.com http://www.kitexgarments.com

Management
Name	Position Held
Mr. Sabu M Jacob	Chairman & Managing Director
Mrs. Sindhu Chandrasekhar	Executive Director
Mr. K L V Narayanan	Non Executive Director
Mr. Benni Joseph	Independent Director
Mr. C P Philipose	Independent Director
Mrs. Sumi Francis	Independent Director

Basic Stock Data of Kitex Garments Ltd

Last Updated: July 26, 2024, 10:26 pm

Market Cap	1,538 Cr.
Current Price	231
High / Low	288/174
Stock P/E	27.5
Book Value	136
Dividend Yield	0.65 %
ROCE	6.93 %
ROE	6.33 %
Face Value	1.00
PEG Ratio	-1.58

Data Source: screener.in

Kitex Garments Ltd Quarterly Results

Month	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
Sales	121	112	154	178	203	254	249	142	68	98	146	134	164
Expenses	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%
Other Income	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%
Net Profit	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

Last Updated: July 18, 2024, 7:48 am

Kitex Garments Ltd Quarterly Chart

Kitex Garments Ltd Profit & Loss

Last Updated: July 10, 2024, 4:54 pm

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	511	546	546	557	607	739	455	788	557	542
Expenses	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%
Other Income	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%
Net Profit	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%

Kitex Garments Ltd Profit & Loss Yearly Chart

Kitex Garments Ltd Growth

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

Compounded Profit Growth
10 Years:	%
5 Years:	-5%
3 Years:	1%
TTM:	-2%

Stock Price CAGR
10 Years:	2%
5 Years:	21%
3 Years:	8%
1 Year:	16%

Return on Equity
10 Years:	%
5 Years:	11%
3 Years:	10%
Last Year:	6%

Last Updated: July 25, 2024, 5:33 am

Kitex Garments Ltd Balance Sheet

Last Updated: July 10, 2024, 4:54 pm

Month	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
Borrowings	161	110	8	8	90	96	0	73	25	341
Other Liabilities	110	101	102	93	104	98	92	108	251	284
Total Liabilities	535	576	555	600	758	835	787	994	1,134	1,495
Fixed Assets	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
Other Assets	347	400	366	385	503	581	540	739	578	747
Total Assets	535	576	555	600	758	835	787	994	1,134	1,495

Kitex Garments Ltd Reserves and Borrowings Chart

Kitex Garments Ltd Cash Flow

Month	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	9	51	116	-10	295	-38
Cash from Investing Activity	-30	-10	-41	-51	-79	-26	-8	-46	-415	-607
Cash from Financing Activity	2	-78	-120	-15	72	-25	-99	60	57	650
Net Cash Flow	101	47	-116	-38	1	0	10	4	-62	4

Kitex Garments Ltd Financial Efficiency Indicators

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	45	64	88	81	99	124	142	145	133	152
Inventory Days	20	22	76	148	191	148	252	154	161	235
Days Payable	34	72	85	72	62	54	77	61	58	79
Cash Conversion Cycle	30	15	79	157	228	218	317	238	237	308
Working Capital Days	24	31	99	138	188	184	242	211	193	253
ROCE %		42%	33%	24%	23%	21%	11%	22%	9%

Kitex Garments Ltd Financial Efficiency Indicators Chart

Kitex Garments Ltd Share Holding Pattern

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoters	55.57%	55.57%	55.57%	55.57%	56.42%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%	56.66%
FIIs	0.10%	0.10%	0.00%	0.03%	0.37%	0.75%	1.02%	0.74%	0.71%	0.69%	0.68%	0.66%
Public	44.33%	44.33%	44.42%	44.39%	43.21%	42.59%	42.32%	42.60%	42.64%	42.65%	42.67%	42.68%
No. of Shareholders	36,580	36,830	36,638	59,884	51,995	58,352	59,542	58,839	57,826	57,230	56,305	54,752

Kitex Garments Ltd Shareholding Pattern Chart

No. of Kitex Garments Ltd Shareholders

This stock is not held by any mutual fund

Kitex Garments Ltd ROCE Trend

Kitex Garments Ltd EPS Trend

Kitex Garments Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	8.47	8.56	18.82	8.16	15.54
Diluted EPS (Rs.)	8.47	8.56	18.82	8.16	15.54
Cash EPS (Rs.)	11.51	11.75	22.04	11.64	19.52
Book Value[Excl.RevalReserv]/Share (Rs.)	155.21	146.88	122.13	104.63	96.45
Book Value[Incl.RevalReserv]/Share (Rs.)	155.21	146.88	122.13	104.63	96.45
Revenue From Operations / Share (Rs.)	92.77	83.76	118.55	68.48	111.16
PBDIT / Share (Rs.)	17.26	15.78	29.72	15.73	25.77
PBIT / Share (Rs.)	14.14	12.59	26.50	12.25	21.79
PBT / Share (Rs.)	13.04	11.92	25.95	11.87	20.73
Net Profit / Share (Rs.)	8.40	8.56	18.82	8.16	15.54
NP After MI And SOA / Share (Rs.)	8.47	8.65	18.82	8.16	15.54
PBDIT Margin (%)	18.60	18.83	25.07	22.96	23.17
PBIT Margin (%)	15.24	15.03	22.35	17.89	19.60
PBT Margin (%)	14.05	14.22	21.89	17.33	18.65
Net Profit Margin (%)	9.04	10.21	15.87	11.91	13.98
NP After MI And SOA Margin (%)	9.13	10.33	15.87	11.91	13.98
Return on Networth / Equity (%)	6.22	6.70	15.40	7.80	16.11
Return on Capital Employeed (%)	5.33	8.03	21.20	11.36	21.81
Return On Assets (%)	2.92	5.07	12.59	6.89	12.37
Long Term Debt / Equity (X)	0.66	0.00	0.00	0.00	0.00
Total Debt / Equity (X)	0.75	0.02	0.08	0.00	0.14
Asset Turnover Ratio (%)	0.40	0.52	0.86	0.54	0.90
Current Ratio (X)	3.59	5.05	4.18	7.42	3.25
Quick Ratio (X)	2.58	3.77	3.23	5.52	2.49
Inventory Turnover Ratio (X)	2.12	1.77	2.59	1.48	2.45
Dividend Payout Ratio (NP) (%)	0.00	17.33	0.00	0.00	19.29
Dividend Payout Ratio (CP) (%)	0.00	12.66	0.00	0.00	15.36
Earning Retention Ratio (%)	0.00	82.67	0.00	0.00	80.71
Cash Earning Retention Ratio (%)	0.00	87.34	0.00	0.00	84.64
Interest Coverage Ratio (X)	15.65	23.47	54.62	40.92	24.39
Interest Coverage Ratio (Post Tax) (X)	8.61	13.73	35.58	22.23	15.71
Enterprise Value (Cr.)	1953.80	951.99	1597.38	506.62	562.40
EV / Net Operating Revenue (X)	3.17	1.71	2.03	1.11	0.76
EV / EBITDA (X)	17.02	9.07	8.08	4.84	3.28
MarketCap / Net Operating Revenue (X)	1.97	1.63	2.10	1.44	0.77
Retention Ratios (%)	0.00	82.66	0.00	0.00	80.70
Price / BV (X)	1.34	1.06	2.04	0.94	0.89
Price / Net Operating Revenue (X)	1.97	1.63	2.10	1.44	0.77
EarningsYield	0.04	0.06	0.07	0.08	0.18

Kitex Garments Ltd Profitability Ratios (%)

Kitex Garments Ltd Liquidity Ratios

Kitex Garments Ltd Liquidity Ratios (%)

Kitex Garments Ltd Interest Coverage Ratios (%)

Kitex Garments Ltd Valuation Ratios

Fair Value

Fair Value: 238.28

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 3.15% compared to the current price 231

Intrinsic Value: 196.72

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Overvalued: 14.84% compared to the current price 231

Last 5 Year EPS CAGR: -17.44%

*Investments are subject to market risks

Strength and Weakness of Kitex Garments Ltd Stock

Strength	Weakness
The stock has a high average ROCE of 18.50%, which is a positive sign. The company has higher reserves (598.80 cr) compared to borrowings (125.20 cr), indicating strong financial stability. The company has shown consistent growth in sales (584.80 cr) and profit (122.30 cr) over the years.	The stock has a high average Working Capital Days of 156.30, which may not be favorable. The stock has a high average Cash Conversion Cycle of 182.70, which may not be favorable.

FAQ

What is the latest fair value of Kitex Garments Ltd?

The latest fair value of Kitex Garments Ltd is ₹238.28.

What is the Market Cap of Kitex Garments Ltd?

The Market Cap of Kitex Garments Ltd is 1,538 Cr..

What is the current Stock Price of Kitex Garments Ltd as on 27 July 2024?

The current stock price of Kitex Garments Ltd as on 27 July 2024 is 231.

What is the High / Low of Kitex Garments Ltd stocks in FY 2024?

In FY 2024, the High / Low of Kitex Garments Ltd stocks is 288/174.

What is the Stock P/E of Kitex Garments Ltd?

The Stock P/E of Kitex Garments Ltd is 27.5.

What is the Book Value of Kitex Garments Ltd?

The Book Value of Kitex Garments Ltd is 136.

What is the Dividend Yield of Kitex Garments Ltd?

The Dividend Yield of Kitex Garments Ltd is 0.65 %.

What is the ROCE of Kitex Garments Ltd?

The ROCE of Kitex Garments Ltd is 6.93 %.

What is the ROE of Kitex Garments Ltd?

The ROE of Kitex Garments Ltd is 6.33 %.

What is the Face Value of Kitex Garments Ltd?

The Face Value of Kitex Garments Ltd is 1.00.