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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

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.
INDUSTRYADDRESSCONTACT
Textiles - Readymade ApparelsP. B. No. 5, Kochi Kerala 683562sect@kitexgarments.com
http://www.kitexgarments.com
Management
NamePosition Held
Mr. Sabu M JacobChairman & Managing Director
Mrs. Sindhu ChandrasekharExecutive Director
Mr. K L V NarayananNon Executive Director
Mr. Benni JosephIndependent Director
Mr. C P PhiliposeIndependent Director
Mrs. Sumi FrancisIndependent Director

Kitex Garments Ltd. Share Price Update

Share PriceValue
Today₹260.20
Previous Day₹265.40

Basic Stock Data of Kitex Garments Ltd

Market Cap 1,814 Cr.
Current Price 273
High / Low288/136
Stock P/E46.5
Book Value 131
Dividend Yield0.55 %
ROCE8.87 %
ROE6.81 %
Face Value 1.00

Data Source: screener.in

Kitex Garments Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales1331211121541782032542491426898146134
Expenses105939312614015419820811470104132115
Operating Profit282818283849554227-2-61419
OPM %21%23%16%18%21%24%22%17%19%-2%-7%10%14%
Other Income2125351415931726
Interest1010003112012
Depreciation6555555555555
Profit before tax242314283549605030-551019
Tax %26%33%42%27%27%29%27%26%27%19%45%24%29%
Net Profit18168212635443722-43813
EPS in Rs2.682.341.243.083.875.226.655.513.26-0.610.511.182.00

Kitex Garments Ltd Quarterly Chart

Kitex Garments Ltd Profit & Loss

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales511546546557607739455788557446
Expenses340357376423468607355618496420
Operating Profit1711891701341391321001716125
OPM %34%35%31%24%23%18%22%22%11%6%
Other Income13203222394274429
Interest211696473445
Depreciation21212223272623212121
Profit before tax142171142107130138791737929
Tax %30%34%35%35%37%25%31%28%28%
Net Profit99110836471103541255720
EPS in Rs14.8216.4912.559.5610.7415.548.1618.828.653.08
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:-9%
TTM:-24%
Compounded Profit Growth
10 Years:%
5 Years:-2%
3 Years:-18%
TTM:-60%
Stock Price CAGR
10 Years:15%
5 Years:24%
3 Years:36%
1 Year:82%
Return on Equity
10 Years:%
5 Years:12%
3 Years:10%
Last Year:7%

Kitex Garments Ltd Balance Sheet

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital5557777777
Reserves259360440492557635689806852863
Borrowings16111088909607325341
Other Liabilities110101102931049892108251284
Total Liabilities5355765556007588357879941,1341,495
Fixed Assets188173173172214234227243264254
CWIP01163440212012292494
Investments0219000000
Other Assets347400366385503581540739578747
Total Assets5355765556007588357879941,1341,495

Kitex Garments Ltd Reserves and Borrowings Chart

Kitex Garments Ltd Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 1281354529951116-10295
Cash from Investing Activity -30-10-41-51-79-26-8-46-415
Cash from Financing Activity 2-78-120-1572-25-996057
Net Cash Flow10147-116-3810104-62

Kitex Garments Ltd Financial Efficiency Indicators

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days4564888199124142145133
Inventory Days202276148191148252154161
Days Payable347285726254776158
Cash Conversion Cycle301579157228218317238237
Working Capital Days243199138188184242211193
ROCE %42%33%24%23%21%11%22%9%

Kitex Garments Ltd Financial Efficiency Indicators Chart

Kitex Garments Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters55.57%55.57%55.57%55.57%56.42%56.66%56.66%56.66%56.66%56.66%56.66%56.66%
FIIs0.10%0.10%0.00%0.03%0.37%0.75%1.02%0.74%0.71%0.69%0.68%0.66%
Public44.33%44.33%44.42%44.39%43.21%42.59%42.32%42.60%42.64%42.65%42.67%42.68%
No. of Shareholders36,58036,83036,63859,88451,99558,35259,54258,83957,82657,23056,30554,752

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

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)8.5618.828.1615.5410.65
Diluted EPS (Rs.)8.5618.828.1615.5410.65
Cash EPS (Rs.)11.7522.0411.6419.5216.32
Book Value[Excl.RevalReserv]/Share (Rs.)146.88122.13104.6396.4584.74
Book Value[Incl.RevalReserv]/Share (Rs.)146.88122.13104.6396.4584.74
Revenue From Operations / Share (Rs.)83.76118.5568.48111.1691.25
PBDIT / Share (Rs.)15.7829.7215.7325.7724.23
PBIT / Share (Rs.)12.5926.5012.2521.7920.13
PBT / Share (Rs.)11.9225.9511.8720.7319.55
Net Profit / Share (Rs.)8.5618.828.1615.5412.22
NP After MI And SOA / Share (Rs.)8.6518.828.1615.5410.74
PBDIT Margin (%)18.8325.0722.9623.1726.55
PBIT Margin (%)15.0322.3517.8919.6022.06
PBT Margin (%)14.2221.8917.3318.6521.42
Net Profit Margin (%)10.2115.8711.9113.9813.39
NP After MI And SOA Margin (%)10.3315.8711.9113.9811.77
Return on Networth / Equity (%)6.7015.407.8016.1112.67
Return on Capital Employeed (%)8.0321.2011.3621.8122.64
Return On Assets (%)5.0712.596.8912.379.42
Total Debt / Equity (X)0.020.080.000.140.15
Asset Turnover Ratio (%)0.520.860.540.900.87
Current Ratio (X)5.054.187.423.252.98
Quick Ratio (X)3.773.235.522.492.20
Inventory Turnover Ratio (X)1.772.591.482.452.61
Dividend Payout Ratio (NP) (%)17.330.000.0019.296.98
Dividend Payout Ratio (CP) (%)12.660.000.0015.365.05
Earning Retention Ratio (%)82.670.000.0080.7193.02
Cash Earning Retention Ratio (%)87.340.000.0084.6494.95
Interest Coverage Ratio (X)23.4754.6240.9224.3941.53
Interest Coverage Ratio (Post Tax) (X)13.7335.5822.2315.7121.95
Enterprise Value (Cr.)951.991597.38506.62562.40666.03
EV / Net Operating Revenue (X)1.712.031.110.761.10
EV / EBITDA (X)9.078.084.843.284.13
MarketCap / Net Operating Revenue (X)1.632.101.440.771.12
Retention Ratios (%)82.660.000.0080.7093.01
Price / BV (X)1.062.040.940.891.20
Price / Net Operating Revenue (X)1.632.101.440.771.12
EarningsYield0.060.070.080.180.10

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 of Kitex Garments Ltd Stock

Fair Value: ₹417.11

The stock is undervalued by 52.79% compared to the current price ₹273

*Investments are subject to market risks

Strength and Weakness of Kitex Garments Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 20.56%, which is a positive sign.
  2. The company has higher reserves (595.30 cr) compared to borrowings (91.20 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (575.20 cr) and profit (119.00 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 18.65 and average Dividend Yield of 19.39%.
  2. The stock has a high average Working Capital Days of 145.56, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 168.78, which may not be favorable.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Kitex Garments Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE