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Kewal Kiran Clothing Ltd (KKCL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532732 NSE: KKCL Textile | Small Cap | Kewal Kiran Clothing Share Price

₹483.45 -1.85 (-0.38%)

As on 22-Sep'26 16:59

Kewal Kiran Clothing Ltd (KKCL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532732 NSE: KKCL Textile | Small Cap | Kewal Kiran Clothing Share Price

₹483.45 -1.85 (-0.38%)

As on 22-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,979 Cr.
Current Price
₹483.5
52-Week Low / High
₹409 / 594
TTM EPS
₹24
TTM Sales
₹1,258 Cr.
Book Value per Share
₹156.2
P/E Ratio
20.12
Lower than its 5-year historical median
Industry PE
35.8
Price to Book (P/B)
3.09
Lower than its 5-year historical median
Price to Sales (P/S)
2.37
Lower than its 5-year historical median
EV/EBITDA
10.17
Lower than its 5-year historical median
Dividend Yield
0.83%
Profitability Efficiency
Return on Equity (ROE)
17.33%
Outperforms industry median
Return on Capital Employed (ROCE)
22.70%
Outperforms industry median
Return on Assets (ROA)
10.42%
Operating Profit Margin
19.4%
Net Profit Margin
12.56%
Gross Profit Margin
15.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
13.08%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
25.47%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
2.08%
Asset Quality
Promoter Holding
74.29%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹901 Cr.
Equity
₹61.6 Cr.
Face Value
₹10
All Time Low / High
₹18.30 / 825.85

Kewal Kiran Clothing stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Semi Strong
Q.1 Is Kewal Kiran Clothing Ltd a good quality company?
Kewal Kiran Clothing Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Kewal Kiran Clothing Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Kewal Kiran Clothing Ltd vs industry peers?
Kewal Kiran Clothing Ltd revenue CAGR is 31.99%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Kewal Kiran Clothing Ltd?
Promoters hold 74.29% of the Kewal Kiran Clothing Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Kewal Kiran Clothing Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 2.3% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Kewal Kiran Clothing Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 30%26.3%26%19.7%5.7%21.3%28.4%32%24.5%19.8%-
Value Creation
Index
1.20.90.90.4-0.60.51.01.30.80.4-

Growth Parameters

Sales 467460503530303608779861840950972
Sales YoY Gr.--1.3%9.2%5.3%-42.9%100.7%28.3%10.4%-2.3%13.1%-
Adj EPS 1211.81311.83.213.119.325.122.821.222
YoY Gr.--1.6%9.5%-9.3%-73%313.2%46.9%29.8%-9.1%-6.9%-
BVPS (₹) 60.864.969.972.470.377.688.8109.8132.6150.2153.6
Adj Net
Profit
74.27379.972.519.681119154140131136
Cash Flow from Ops. 80.155.6-0.450.996.756.975.113628.5149-
Debt/CF from Ops. 0.50.9-252.61.70.51.40.703.60.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 8.2%25.7%6.8%13.1%
Adj EPS 6.5%46.2%3.2%-6.9%
BVPS10.6%16.4%19.1%13.2%
Share Price 2.4% 22.5% -11.6% -18.2%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
2218.919.216.54.517.823.225.218.81514.5
Op. Profit
Mgn %
21.221.322.3186.216.519.52018.618.819.1
Net Profit
Mgn %
15.915.915.913.76.513.315.317.916.713.814
Debt to
Equity
0.10.10.20.20.10.20.100.10.10
Working Cap
Days
133140166189296128129129144148237
Cash Conv.
Cycle
78861151391938085838989150

Valuation of Kewal Kiran Clothing - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales4664605035303036087798601,0031,213
Operating Expenses + 368362391435284508628689816978
Manufacturing Costs8177838537113130104171175
Material Costs169163159178143246320385418530
Employee Cost 59657571538098105136171
Other Costs 5857731005169809590102
Operating Profit 99981129519100152172187235
Operating Profit Margin (%) 21.2%21.3%22.3%18.0%6.2%16.5%19.5%20.0%18.7%19.4%
Other Income + 18212218171720425327
Exceptional Items 0000000000
Interest 357975641014
Depreciation 5688779103244
Profit Before Tax 1081081199623105157199198203
Tax 3435392332438454850
Profit After Tax 757380732082119154149152
PAT Margin (%) 16.0%15.9%16.0%13.8%6.5%13.4%15.3%17.9%14.9%12.6%
Adjusted EPS (₹)12.111.913.011.83.213.319.325.023.423.0
Dividend Payout Ratio (%)31.40%55.60%52.20%73.20%143.20%143.40%25.90%8%0%17.40%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 374399430446433478547676820938
Share Capital 12121212126262626262
Reserves 362387418434421416485614758876
Debt +41489388467751210848
Long Term Debt0000000000
Short Term Debt41489388467751210848
Minority Interest00000000171181
Trade Payables394445503753484410890
Others Liabilities 5965775366135171115218239
Total Liabilities 5135566456365827438178371,4261,497

Fixed Assets

Net Fixed Assets +636881818185108116478484
Gross Block687899104109119150167560608
Accumulated Depreciation51018232834425282123
CWIP 79231110711
Investments 205230235195131140152177174165
Inventories515383905111316682225258
Trade Receivables106121178171131171170203313321
Cash Equivalents 66625380154197171219132180
Others Assets 14131316343649419677
Total Assets 5135566456365827438178371,4261,497
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 8056-05197577513614183
PBT 1081081199623105157199198203
Adjustment -8-10-4242-0-14-835
Changes in Working Capital 9-12-78-2474-26-47-10-141-10
Tax Paid -30-30-38-23-4-23-35-40-35-44
Cash Flow From Investing Activity + -9-1434662-2-18-10-184-28
Capex -14-9-12-11-3-9-24-9-84-17
Net Investments 4-514576464-308
Others 10101122-101-18
Cash Flow From Financing Activity + -27-46-11-70-85-32-52-66-20-51
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -4-4-6-8-6-4-5-3-10-14
Dividend Paid -42-49-50-56-37-37-49-250-25
Others 18845-6-4292-39-10-11
Net Cash Flow 43-4-8277423559-191104
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)22.1618.9319.3716.684.5117.9223.2225.219.9517.33
ROCE (%)30.0526.322619.745.821.2528.3331.9125.8722.7
Asset Turnover Ratio1.020.860.840.830.51.141.281.221.11.06
PAT to CFO Conversion(x)1.070.77-00.74.850.70.630.880.091.2
Working Capital Days
Receivable Days82.3089.60108.30120.1018272.7062.4067.5075.9074.60
Inventory Days40.9041.1049.3059.7084.8039.405144.8045.2056.70
Payable Days93.1093.10101.3096.90109.8066.8057.9043.5066.3068.40

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Kewal Kiran Clothing Ltd FAQs

The current trading price of Kewal Kiran Clothing on 22-Sep-2026 16:59 is ₹483.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Sep-2026 the market cap of Kewal Kiran Clothing stood at ₹2,979.3 Cr

The latest P/E ratio of Kewal Kiran Clothing as of 21-Sep-2026 is 21.95.

The latest P/B ratio of Kewal Kiran Clothing as of 21-Sep-2026 is 3.15.

The 52-week high of Kewal Kiran Clothing is ₹594.4 and the 52-week low is ₹408.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kewal Kiran Clothing is ₹972 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Kewal Kiran Clothing Ltd is a good quality company.

The key valuation ratios of Kewal Kiran Clothing Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Kewal Kiran Clothing Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Kewal Kiran Clothing Ltd

Incorporated in 1981, Kewal Kiran Clothing Limited today is amongst the few large branded apparel manufacturers in India. The company with sales in Asia, Middle East and CIS, designs, manufactures and markets branded jeans, semi-formal and casual wear for men.

The company began as a manufacturer of men’s wear for reputed brands. The company is exposed to global standards in quality, technology, marketing and branding. In 1989, the company introduced “Killer“ the first international denim brand created in India. Today 'Killer' is one of the most successful and widely recognized brands in the Indian apparel industry.

Innovation has been the hallmark of Kewal Kiran Clothing Limited. A marriage of design and technology, the company has constantly introduced new fits, finishes and fabrics. The company’s own R & D team working closely with designers is constantly innovating – creating an exciting array of product lines in a variety of fabrics, washes and cuts, using the latest in technology and processes. The company’s own manufacturing and processing set up enables it to have a speedy ‘go-to-market’ time frame – from design to production.

Fashion with 'Quality' is the cornerstone of each collection introduced by the company. The company’s strong fashion forecasting and trendsetting abilities have created brands which are vibrant, trendy and with an attitude. Each brand has been carefully crafted keeping in mind desires and attitudes of specific market segments. Each brand is an expression of its customer.

The trendiest collections are backed by a strong retail and distribution network. The company’s extensive reach has been built in a strategic and planned manner over the years.

The success of Kewal Kiran Clothing Limited can be attributed to a great extent to its manufacturing capacity. The company has inherent core competency in manufacturing. From sourcing to finishing every aspect of the company’s manufacturing has added to its success.

With 5 units, an annual capacity of 25 lakh pieces, over 800 employees, the latest technologies in jeans manufacturing, the company’s ability to innovate in manufacturing enables it to quickly go from design to market.

The company has chalked out plans for growth in manufacturing capacities to meet the growing markets for its brands internationally.

Product range of the company includes:

Jeans, Cotton Shirts, Jackets, Denim Shirts, Non-Cotton Shirts, Knitted T-Shirts, Cotton Trousers, Non-Cotton Trousers and Accessories like bags, belts, caps, etc.

Brand Variety

  • Killer-  Launched in 1989, Killer is the flagship brand of the company. A power brand. A brand that is youthful, trendy, vibrant and with an attitude. The focus of the brand is 16-25 years segment. The power brand enjoys a leadership position in the premium menswear in this segment. Killer Jeans is the largest selling denim brand in India. The brand's product line includes jeans, shirts and jackets.
  • Lawman-The Clubwear range of Shirts, Denims, Cotton Trousers and Denim Jackets from the Kewal Kiran Clothing Limited stable is Lawman. The range targets the young age group between 18 to 28 years. A distribution network of 15 distributors and 750 retailers and a price range from Rs 695 to Rs 1,995, the brand is growing aggressively.
  • Easies-A brand for the young executives and for the new times- when being successful is also being cool. A Semi-formal range for men between the age group of 25 – 40 yrs the brand continues relation of Kewal Kiran Clothing Limited with its customers through the various phases of life and the various aspects of life.
  • Integriti-Launched in 2002, Integriti from the Kewal Kiran Clothing Limited. portfolio is a brand for the masses. Unpretentious! Casuals and Formal shirts, T-shirts, Jeans, Cotton trousers. A brand that is positioned as a FMCG. It is aiming for a significant share of the Rs 5000 crore branded market. A brand that promises quality at an economical price and comes from Kewal Kiran Clothing Limited.
  • K-Lounge-K-Lounge is a trendsetting Fashion Retail Chain promoted by India's premiere Fashion House - Kewal Kiran Clothing Limited The company boasts of revolutionizing Fashion India Inc. through their 4 brands Killer, Easies, Lawman and Integriti. All these brands have attained a cult status and are exclusively available through the K-Lounge Fashion Chain.

Awards/ Achievements

  • 1996 Killer - Brand of the year - The Arvind Mills Limited 2001-02 (National Garment Fair) - CMAI AWARDS• Golden Scale TrophyAdvertising Campaign of the year• Golden Scale TrophyDenim Brand of the year• Silver SalverMost Innovative Display
  • 2003 (National Garment Fair) CMAI AWARDS• Silver SalverPresented to 'Lawman'• First PrizeMost Innovative Display (Brand Wagon)IFA 1st Inside Fashion Award (IFA)• â€œPower Brand – For Excellence in Retail performance'Award Category – Men’s Wear Jeans - ‘Killer’
  • 2001 IFA • HALL of FAME Jeans wear brand of the year - ‘Killer’IFA IFA -3rd Inside Fashion Award • Campaign of the year – ‘Killer’
  • 2005 • CNBC TV 18 – ICICI Bank Award for best SME Company in Textile/ Apparel Sector• Golden Trophy by CMAI for casual wear brand of the year (small & medium) INTEGRITI

Milestones of the company:

  • 1980- Kewal Kiran & Co. was incorporated.
  • 1989- Launch of Killer
  • 1994- Exporting of Killer brand to UAE
  • 1998- Launch of Easies -Launch of Lawman
  • 2000- Move towards corporate structure
  • 2002- Launch of Integrity
  • 2004- Launch of first K- Launge
  • 2005- Consolidation of business under one entity
  • 2006- IPO of 31 lakh shares
  • 2007- Killer Women wear launched -Killer & Integrity exclusive brand outlets launched
  • 2008- Over 100 retail stores (Including EBOS)

Recent developments

Kewal Kiran Clothing in May 2009 has raised funds to the tune of Rs 806 million by issuing 3.10 million equity shares of Rs 10 each at a premium of Rs 250 a share. The proceeds of the issue would be utilized for capital expenditure in setting up new manufacturing facilities, expansion of distribution network by opening additional exclusive outlets, building corporate office and to meet other general corporate purposes.

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