Kitex Garments Ltd - Stock Valuation and Financial Performance

BSE: 521248 | NSE: KITEX | Textile | Small Cap

Kitex Garments Share Price

528.70 -27.80 -5.00%
as on 04-Oct'24 16:01

DeciZen - make an informed investing decision on Kitex Garments

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Kitex Garments stock performance -

mw4me loader
P/E Ratio (SA):
39.00
Market Cap:
3,515.9 Cr.
52-wk low:
176.8
52-wk high:
576.6

Is Kitex Garments Ltd an attractive stock to invest in?

1. Is Kitex Garments Ltd a good quality company?

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

2. Is Kitex Garments Ltd undervalued or overvalued?

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

3. Is Kitex Garments Ltd a good buy now?

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

10 Year X-Ray of Kitex Garments:

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

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 44.4%41.5%32.2%22.9%22.2%20.7%11.6%21.6%9.3%10.8%-
Value Creation
Index
2.22.01.30.60.60.5-0.20.5-0.3-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 511546546557607739455788557617662
Sales YoY Gr.-6.8%0%2.1%8.9%21.8%-38.4%73.1%-29.3%10.8%-
Adj EPS 13.815.114.410.510.512.78.916.86.59.413.6
YoY Gr.-10.1%-4.9%-26.8%-0.4%21.3%-30.2%89.2%-61.7%45.4%-
BVPS (₹) 39.755.368.577.688.9101.5110.6128.5136.1144.8149.3
Adj Net
Profit
91.410195.770.169.884.759.111242.962.490
Cash Flow from Ops. 12813544.728.69.758.9116-9.5242-30.1-
Debt/CF from Ops. 1.30.80.20.39.31.60-7.70.1-2.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 2.1%0.3%10.7%10.8%
Adj EPS -4.2%-2.2%1.8%45.4%
BVPS15.5%10.2%9.4%6.4%
Share Price 4.1% 42.5% 45.8% 152.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
41.731.923.314.412.613.48.414.14.96.79.2
Op. Profit
Mgn %
33.534.63224.122.918.22221.713.916.619.6
Net Profit
Mgn %
17.918.517.512.611.511.51314.27.710.113.6
Debt to
Equity
0.60.3000.20.100.100.1-
Working Cap
Days
9398127170246281458301413330169
Cash Conv.
Cycle
26315288120140232150220185115

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 9.20%

Sales growth is growing at healthy rate in last 3 years 10.65%

Sales growth is good in last 4 quarters at 60.73%

Net Profit has been subdued in last 3 years 1.80%

Latest Financials - Kitex Garments Ltd.

Standalone Consolidated
TTM EPS (₹) 13.6 11.4
TTM Sales (₹ Cr.) 662 662
BVPS (₹.) 149.3 140
Reserves (₹ Cr.) 986 925
P/BV 3.54 3.78
PE 39.00 46.39
From the Market
52 Week Low / High (₹) 176.80 / 576.60
All Time Low / High (₹) 0.03 / 764.29
Market Cap (₹ Cr.) 3,516
Equity (₹ Cr.) 6.7
Face Value (₹) 1
Industry PE 29.3

Management X-Ray of Kitex Garments:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of Kitex Garments

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales511546546557607739455788557617
Operating Expenses 340357376423468607355617493514
Manufacturing Costs424867757710956957193
Material Costs210211195217246321195367265255
Employee Cost 6775849310512177114109119
Other Costs 22233039405527414947
Operating Profit 17118917013413913210017164102
Operating Profit Margin (%) 33.4%34.6%31.1%24.1%22.9%17.9%22.0%21.7%11.5%16.6%
Other Income 132033224410304325
Interest 211696473447
Depreciation 21212223272623212121
Exceptional Items 0000000000
Profit Before Tax 142171142107130143851768199
Tax 43595037493425472231
Profit After Tax 99112927081109601285968
PAT Margin (%) 19.3%20.5%16.9%12.6%13.4%14.7%13.2%16.3%10.7%11.1%
Adjusted EPS (₹)14.816.913.910.512.316.39.019.38.910.3
Dividend Payout Ratio (%)6%6%8%14%12%9%17%8%17%15%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 264367456516591675735855905963
Share Capital 5557777777
Reserves 259363451510585669729848898956
Minority Interest0000000000
Debt141923187960732577
Long Term Debt27831000000
Short Term Debt114840087960732577
Trade Payables20424543424741624252
Others Liabilities 1117862581401241131095471
Total Liabilities 5355795666178619428891,0991,0261,163

Fixed Assets

Gross Block263268195215234265271292295296
Accumulated Depreciation749522437096119140161182
Net Fixed Assets188173173172164169152152134114
CWIP 011634402120122026
Investments 05122729353533298333
Inventories11134088129130134155117164
Trade Receivables6396131123165252178314203257
Cash Equivalents 20325013597991071511338366
Others Assets70415978234229220301170203
Total Assets 5355795666178619428891,0991,0261,163

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 12813545291059116-9242-30
PBT 142171142107130143851768199
Adjustment 4137362928121362315
Changes in Working Capital -18-22-75-63-111-4439-142166-119
Tax Paid -36-52-58-46-37-52-20-49-29-25
Cash Flow From Investing Activity -30-10-34-52-79-37-9-49-243-2
Capex -30-6-28-38-27-15-5-13-7-6
Net Investments 0-5-7-15000000
Others 0000-52-22-4-36-2364
Cash Flow From Financing Activity 2-78-120-1572-25-9960-6337
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -19-16-9-5-4-7-3-3-5-5
Dividend Paid -6-11-9-10-6-240-10-10-10
Others 27-51-1020826-9673-4852
Net Cash Flow 10147-110-393-392-645
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)44.9835.5122.4114.4114.7117.168.4916.146.757.3
ROCE (%)44.3941.4832.1822.9322.2420.6811.621.589.2510.81
Asset Turnover Ratio1.090.980.950.940.820.820.50.790.520.56
PAT to CFO Conversion(x)1.291.210.490.410.120.541.93-0.074.1-0.44
Working Capital Days
Receivable Days4153768387103172114170136
Inventory Days8818426564106678983
Payable Days38538174635183517167

Kitex Garments Ltd Stock News

Kitex Garments Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Kitex Garments on 04-Oct-2024 16:01 is ₹528.7.
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 04-Oct-2024 16:01 the market cap of Kitex Garments stood at ₹3,515.9.
The latest P/E ratio of Kitex Garments as of 04-Oct-2024 16:01 is 39.00.
The latest P/B ratio of Kitex Garments as of 04-Oct-2024 16:01 is 3.54.
The 52-week high of Kitex Garments is ₹576.6 and the 52-week low is ₹176.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kitex Garments is ₹661.6 ( Cr.) .

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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