MoneyWorks4Me

Kitex Garments Ltd (KITEX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 521248 NSE: KITEX Textile | Small Cap | Kitex Garments Share Price

₹119.10 -4.85 (-3.91%)

As on 15-Sep'26 16:59

Kitex Garments Ltd (KITEX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 521248 NSE: KITEX Textile | Small Cap | Kitex Garments Share Price

₹119.10 -4.85 (-3.91%)

As on 15-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,473 Cr.
Current Price
₹119.1
52-Week Low / High
₹123 / 233
TTM EPS
₹-1.2
TTM Sales
₹629 Cr.
Book Value per Share
₹50.8
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
35.9
Price to Book (P/B)
2.44
Higher than its 5-year historical median
Price to Sales (P/S)
3.93
Higher than its 5-year historical median
EV/EBITDA
55.32
Higher than its 5-year historical median
Dividend Yield
0.42%
Profitability Efficiency
Return on Equity (ROE)
-1.28%
Underperforms industry median
Return on Capital Employed (ROCE)
2.54%
Underperforms industry median
Return on Assets (ROA)
-0.47%
Operating Profit Margin
4.6%
Net Profit Margin
-1.98%
Gross Profit Margin
5.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-39.8%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-85.2%
Net Profit Growth (1 Year)
-
-109.73%
Asset Quality
Promoter Holding
56.66%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹993 Cr.
Equity
₹20 Cr.
Face Value
₹1
All Time Low / High
₹0.01 / 320.95

Kitex Garments stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Weak
Q.1 Is Kitex Garments Ltd a good quality company?
Kitex Garments Ltd is a average quality company, based on a somewhat consistent 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 Kitex Garments Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Kitex Garments Ltd vs industry peers?
Kitex Garments Ltd revenue CAGR is 7.93%, 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 Kitex Garments Ltd?
Promoters hold 56.66% of the Kitex Garments Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Kitex Garments Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 1.2% 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.
Kitex Garments Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 32.2%22.9%22.2%20.7%11.6%21.6%9.3%10.8%19.2%7.2%-
Value Creation
Index
1.30.60.60.5-0.20.5-0.3-0.20.4-0.5-

Growth Parameters

Sales 546557607739455788557617983592516
Sales YoY Gr.-2.1%8.9%21.8%-38.4%73.1%-29.3%10.8%59.3%-39.8%-
Adj EPS 4.83.53.54.335.62.237.11.92.1
YoY Gr.--26.9%-0.3%21.4%-30.4%89.5%-61.7%37.7%140.5%-73.3%-
BVPS (₹) 22.825.929.733.836.942.845.448.355.457.858.4
Adj Net
Profit
95.770.169.884.759.111242.959.11423842
Cash Flow from Ops. 44.728.69.758.9116-9.5242-30.178.3257-
Debt/CF from Ops. 0.20.39.31.60-7.70.1-2.52.10.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 0.9%5.4%2%-39.8%
Adj EPS -9.8%-8.5%-4%-73.3%
BVPS10.9%9.4%8.4%4.3%
Share Price 0.8% 16% 21.8% -38.4%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
23.314.412.613.48.414.14.96.313.73.43.6
Op. Profit
Mgn %
3224.122.918.22221.713.916.620.57.63.9
Net Profit
Mgn %
17.512.611.511.51314.27.79.614.56.48.2
Debt to
Equity
000.20.100.100.10.20.2-
Working Cap
Days
127170246281458301413330259428246
Cash Conv.
Cycle
5288120140232150220185145202141

Valuation of Kitex Garments - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

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
Sales546557607739455788557617983667
Operating Expenses + 376423468607355618496516781637
Manufacturing Costs67757710956957193144109
Material Costs195217246321195367265255422334
Employee Cost 849310512177114109119159150
Other Costs 30394055274152495645
Operating Profit 1701341391321001716110120230
Operating Profit Margin (%) 31.1%24.1%22.9%17.9%22.0%21.7%10.9%16.3%20.5%4.5%
Other Income + 33223942744141952
Exceptional Items 00000000018
Interest 964734471547
Depreciation 22232726232121211645
Profit Before Tax 1421071301387917379871908
Tax 50374934254722315422
Profit After Tax 927081103541255756136-13
PAT Margin (%) 16.9%12.6%13.4%14.0%11.9%15.9%10.2%9.1%13.8%-2.0%
Adjusted EPS (₹)4.23.23.65.22.76.32.82.86.8-0.7
Dividend Payout Ratio (%)8.50%15.70%14%9.70%18.40%8%17.70%17.90%7.40%-75.50%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 4454995636416968128589051,0331,030
Share Capital 577777772020
Reserves 4404925576356898068528981,0131,010
Debt +318796073256811,0821,143
Long Term Debt3100000605920981
Short Term Debt0087960732577163162
Minority Interest000000118128177209
Trade Payables45434247416242557755
Others Liabilities 6258140124113109106174249607
Total Liabilities 5556008339098501,0561,1501,9432,6183,044

Fixed Assets

Net Fixed Assets +1731722142342272432642442321,142
Gross Block1952152843303463834254264261,380
Accumulated Depreciation22437096119140161182194239
CWIP 1634402120122928861,391946
Investments 1900000000
Inventories4088129130134155117164191151
Trade Receivables131123165252178314203257340125
Cash Equivalents 13597991071511341016968152
Others Assets 5978185166139199173322397528
Total Assets 5556008339098501,0561,1501,9432,6183,044
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 4529951116-10295-3854346
PBT 1421071301387917379871908
Adjustment 36292818191023223525
Changes in Working Capital -75-63-112-5238-143222-122-120343
Tax Paid -58-46-37-52-20-49-29-25-50-30
Cash Flow From Investing Activity + -34-52-78-29-8-48-414-607-455-341
Capex -28-38-77-29-10-27-416-617-505-328
Net Investments -7-15-10000000
Others 00001-2121050-13
Cash Flow From Financing Activity + -120-1572-25-99605765039064
Net Proceeds from Shares 0000001203051
Net Proceeds from Borrowing 0-30000000121
Interest Paid -9-5-4-7-3-3-5-5-13-99
Dividend Paid -9-10-6-24-0-10-10-10-10-10
Others -1022826-9673-48661413-0
Net Cash Flow -110-393-292-624-1068
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)22.7814.8515.317.168.1216.66.826.3314.01-1.28
ROCE (%)32.6523.6123.0820.8311.3722.299.477.6211.062.54
Asset Turnover Ratio0.970.970.850.850.520.830.50.40.430.24
PAT to CFO Conversion(x)0.490.410.110.52.15-0.085.18-0.680.4N/A
Working Capital Days
Receivable Days75.9083.2086.70102.90172113.90169.60136.20110.70127
Inventory Days17.904265.2064106.1066.908983.1065.9093.50
Payable Days81.307462.7050.808351.1071.3069.3057.2072.60

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Kitex Garments Ltd FAQs

The current trading price of Kitex Garments on 15-Sep-2026 16:59 is ₹119.1.

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 14-Sep-2026 the market cap of Kitex Garments stood at ₹2,472.8 Cr

The latest P/E ratio of Kitex Garments as of 14-Sep-2026 is 58.87.

The latest P/B ratio of Kitex Garments as of 14-Sep-2026 is 2.12.

The 52-week high of Kitex Garments is ₹232.7 and the 52-week low is ₹123.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kitex Garments is ₹516 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Kitex Garments Ltd is a average quality company.

The key valuation ratios of Kitex Garments 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 Weak which suggest that the price of Kitex Garments Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Kitex Garments Ltd

Kitex Garments incorporated in 1992, it commenced its production in 1996, after setting up its world-class facility on a 105 acre landscape at Kochi. It was primarily conceived with a domestic focus, intending to make the most of the strong brand power the group enjoyed in the state of Kerala. It also tied up with a leading Italian company for manufacture & sale of undergarments positioned at the premium segment.

However, it experienced that the highly up market innerwear products would not generate volumes enough for the huge facility being set-up. Plus the high credit period & even bad debts led the company to naturally shift its focus to the exports markets.

KGL has had a key focus on the US markets, where the customers generally demand for bulk deliveries, much in contrast to the relatively smaller orders by the Europeon buyers. This time round, KGL experienced a little less than expected growth for a few years as most buyer representatives sourced their entire requirement from the textile hub of Tirupur (5 hrs drive from Kochi, with no flight connections).

However, with the coming up of an international airport at Kochi and having been satisfied with the production at its top-class facilities, Kitex Garments has no looking back. Further with no quotas on textiles, it is now enabled to scale up its operations and is poised to evolve as a notable player in the Indian textile space.

Business Area of Company 

The company manufactures all kinds of garments for exports. Infant wear dominates with over 90% share in production; Capacity (infant wear) increased to 200,000 pcs per day; Vertical integration through fabric & processing plant.

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