KITEX
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Recent events
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Corporate Actions
India's textile makers gain after free trade agreement between Britain and India
** Shares of India's textile makers rise after Britain and India sign major trade agreement
** India's trade ministry said 99% of Indian exports would benefit from zero duty under the deal, including textiles
** Textile makers Gokaldas Exports GOKL.NS, Arvind Ltd ARVN.NS, K.P.R. Mill KPRM.NS, and Kitex Garments KITE.NS were up 7.2%, 3.3%, 7.9%, and 5%, respectively
** "India has advantage of cheap labour cost and high cotton supply, which benefit the domestic textile producers in long run," ICICI Securities said
** Adds, cos with integrated business model and high standards of quality production like Gokaldas Exports, KPR Mills, SP Apparels, Indo Count ICNT.NS and Welspun Living WLSP.NS will benefit from the pact in medium to long run
** ICNT jumps 6.5% and WLSP gains 7.3%
** ICICI Securities also says lower tariffs on footwear products is positive for Indian footwear companies such as Bata India BATA.NS, Metro brands METB.NS, Relaxo footwear RLXO.NS to explore opportunities in the UK market
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of India's textile makers rise after Britain and India sign major trade agreement
** India's trade ministry said 99% of Indian exports would benefit from zero duty under the deal, including textiles
** Textile makers Gokaldas Exports GOKL.NS, Arvind Ltd ARVN.NS, K.P.R. Mill KPRM.NS, and Kitex Garments KITE.NS were up 7.2%, 3.3%, 7.9%, and 5%, respectively
** "India has advantage of cheap labour cost and high cotton supply, which benefit the domestic textile producers in long run," ICICI Securities said
** Adds, cos with integrated business model and high standards of quality production like Gokaldas Exports, KPR Mills, SP Apparels, Indo Count ICNT.NS and Welspun Living WLSP.NS will benefit from the pact in medium to long run
** ICNT jumps 6.5% and WLSP gains 7.3%
** ICICI Securities also says lower tariffs on footwear products is positive for Indian footwear companies such as Bata India BATA.NS, Metro brands METB.NS, Relaxo footwear RLXO.NS to explore opportunities in the UK market
(Reporting by Vijay Malkar)
(([email protected];))
India's Kitex Garments jumps on bonus share issue proposal
** Shares of Kitex Garments KITE.NS rise to exchange-allowed maximum limit of 5% to 635.30 rupees
** Apparel manufacturer on Monday said it will consider proposal for issuing bonus shares at a board meeting on Nov. 22
** Share price above 50-day, 100-day and 200-day exponential moving averages since Aug. 6
** Stock up 182.1% YTD
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
** Shares of Kitex Garments KITE.NS rise to exchange-allowed maximum limit of 5% to 635.30 rupees
** Apparel manufacturer on Monday said it will consider proposal for issuing bonus shares at a board meeting on Nov. 22
** Share price above 50-day, 100-day and 200-day exponential moving averages since Aug. 6
** Stock up 182.1% YTD
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
India's Kitex Garments gains as Q2 profit surges
** Shares of Kitex Garments KITE.NS jump an exchange-allowed maximum of 5% to 565.45 rupees
** Apparel manufacturer's Q2 consol net profit jumps nearly 5x, rev up about 50%
** Stock gains for a third straight session, rising 11.5% in this period
** KITE up 151% YTD
(Reporting by Nishit Navin in Benagluru)
(([email protected];))
** Shares of Kitex Garments KITE.NS jump an exchange-allowed maximum of 5% to 565.45 rupees
** Apparel manufacturer's Q2 consol net profit jumps nearly 5x, rev up about 50%
** Stock gains for a third straight session, rising 11.5% in this period
** KITE up 151% YTD
(Reporting by Nishit Navin in Benagluru)
(([email protected];))
India's Kitex Garments jumps on annual turnover forecast
** Shares of Kitex Garments KITE.NS rise to exchange-allowed maximum of 5% at 516.15 rupees
** Knitted garments maker says on track to achieve record turnover of 10 billion rupees ($119.37 million) in FY 2024/25
** September marks KITE's second-busiest month since April 2022, with about 19 mln shares traded
** Stock up 118% YTD
($1 = 83.7740 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
** Shares of Kitex Garments KITE.NS rise to exchange-allowed maximum of 5% at 516.15 rupees
** Knitted garments maker says on track to achieve record turnover of 10 billion rupees ($119.37 million) in FY 2024/25
** September marks KITE's second-busiest month since April 2022, with about 19 mln shares traded
** Stock up 118% YTD
($1 = 83.7740 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
India's Kitex Garments up on merger plan
** Shares of Kitex Garments KITE.NS rises 5% to 491.6 rupees
** Apparel maker said it has considered acquiring its unit Kitex Childrenswear
** Co did not provide further details on the potential deal
** Stock rose 118% YTD, its biggest yearly gain since listing in 2012
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
** Shares of Kitex Garments KITE.NS rises 5% to 491.6 rupees
** Apparel maker said it has considered acquiring its unit Kitex Childrenswear
** Co did not provide further details on the potential deal
** Stock rose 118% YTD, its biggest yearly gain since listing in 2012
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
Kitex Garments - Approved Further Investment In Kitex Apparel Parks For Upto 1.03 Billion Rupees
Kitex Garments Ltd KITE.NS:
KITEX GARMENTS - APPROVED FURTHER INVESTMENT IN KITEX APPAREL PARKS FOR UPTO 1.03 BILLION RUPEES
Source text for Eikon: ID:nNSE4QP8cf
Further company coverage: KITE.NS
Kitex Garments Ltd KITE.NS:
KITEX GARMENTS - APPROVED FURTHER INVESTMENT IN KITEX APPAREL PARKS FOR UPTO 1.03 BILLION RUPEES
Source text for Eikon: ID:nNSE4QP8cf
Further company coverage: KITE.NS
India's Kitex up after Q4 profit surge
** Shares of Kitex Garments KITE.NS up 4.4% to 223 rupees, highest since March 11
** Garment maker's consolidated net profit rose ~6x; rev up 77%
** About 600,000 shares traded, 4.4x its 30-day avg
** Stock down 1% YTD
(Reporting by Aleef Jahan in Bengaluru)
** Shares of Kitex Garments KITE.NS up 4.4% to 223 rupees, highest since March 11
** Garment maker's consolidated net profit rose ~6x; rev up 77%
** About 600,000 shares traded, 4.4x its 30-day avg
** Stock down 1% YTD
(Reporting by Aleef Jahan in Bengaluru)
Kitex Garments Declares Dividend Of 1.5 Rupees Per Share
May 20 (Reuters) - Kitex Garments Ltd KITE.NS:
DIVIDEND OF 1.5 RUPEES PER SHARE
MARCH-QUARTER CONSOL NET PROFIT 201.3 MILLION RUPEES VERSUS 33.6 MILLION RUPEES
MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 1.73 BILLION RUPEES VERSUS 977.1 MILLION RUPEES
Further company coverage: KITE.NS
(([email protected];))
May 20 (Reuters) - Kitex Garments Ltd KITE.NS:
DIVIDEND OF 1.5 RUPEES PER SHARE
MARCH-QUARTER CONSOL NET PROFIT 201.3 MILLION RUPEES VERSUS 33.6 MILLION RUPEES
MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 1.73 BILLION RUPEES VERSUS 977.1 MILLION RUPEES
Further company coverage: KITE.NS
(([email protected];))
India's Kitex Garments Sept-Quarter Net Profit Falls
Nov 6 (Reuters) - Kitex Garments Ltd KITE.NS:
SEPT-QUARTER NET PROFIT 132.1 MILLION RUPEES VERSUS PROFIT 250.6 MILLION RUPEES
SEPT-QUARTER REVENUE FROM OPERATIONS 1.34 BILLION RUPEES VERSUS 1.42 BILLION RUPEES
FURTHER INVESTMENT IN KITEX APPAREL PARKS AT 258.5 MILLION RUPEES
Source text for Eikon: ID:nBSEbGzcjR
Further company coverage: KITE.NS
(([email protected];))
Nov 6 (Reuters) - Kitex Garments Ltd KITE.NS:
SEPT-QUARTER NET PROFIT 132.1 MILLION RUPEES VERSUS PROFIT 250.6 MILLION RUPEES
SEPT-QUARTER REVENUE FROM OPERATIONS 1.34 BILLION RUPEES VERSUS 1.42 BILLION RUPEES
FURTHER INVESTMENT IN KITEX APPAREL PARKS AT 258.5 MILLION RUPEES
Source text for Eikon: ID:nBSEbGzcjR
Further company coverage: KITE.NS
(([email protected];))
India's Kitex Garments March-Quarter Consol Net Profit Falls
May 30 (Reuters) - Kitex Garments Ltd KITE.NS:
MARCH-QUARTER CONSOL NET PROFIT 33.6 MILLION RUPEES VERSUS 442 MILLION RUPEES
MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 977.1 MILLION RUPEES VERSUS 2.54 BILLION RUPEES
FINAL DIVIDEND 1.5 RUPEES PER SHARE
Source text for Eikon: [ID:]
Further company coverage: KITE.NS
(([email protected];))
May 30 (Reuters) - Kitex Garments Ltd KITE.NS:
MARCH-QUARTER CONSOL NET PROFIT 33.6 MILLION RUPEES VERSUS 442 MILLION RUPEES
MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 977.1 MILLION RUPEES VERSUS 2.54 BILLION RUPEES
FINAL DIVIDEND 1.5 RUPEES PER SHARE
Source text for Eikon: [ID:]
Further company coverage: KITE.NS
(([email protected];))
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Popular questions
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What does Kitex Garments do?
Kitex Garments Limited is a top Indian apparel manufacturer and exporter, focusing on knitted garments for infants and children. It is the world's second largest children's apparel producer with operations in Kerala.
Who are the competitors of Kitex Garments?
Kitex Garments major competitors are PDS, Pearl Global Inds., Gokaldas Exports, Kewal Kiran Clothing, Cantabil Retail, S.P. Apparels, Monte Carlo Fashions. Market Cap of Kitex Garments is ₹5,105 Crs. While the median market cap of its peers are ₹3,060 Crs.
Is Kitex Garments financially stable compared to its competitors?
Kitex Garments seems to be less financially stable compared to its competitors. Altman Z score of Kitex Garments is 4.28 and is ranked 7 out of its 8 competitors.
Does Kitex Garments pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Kitex Garments latest dividend payout ratio is 18.03% and 3yr average dividend payout ratio is 14.57%
How has Kitex Garments allocated its funds?
Companies resources are allocated to majorly unproductive assets like Capital Work in Progress
How strong is Kitex Garments balance sheet?
Balance sheet of Kitex Garments is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Kitex Garments improving?
The profit is oscillating. The profit of Kitex Garments is ₹136 Crs for TTM, ₹55.33 Crs for Mar 2024 and ₹56.29 Crs for Mar 2023.
Is the debt of Kitex Garments increasing or decreasing?
Yes, The net debt of Kitex Garments is increasing. Latest net debt of Kitex Garments is ₹1,015 Crs as of Mar-25. This is greater than Mar-24 when it was ₹543 Crs.
Is Kitex Garments stock expensive?
Yes, Kitex Garments is expensive. Latest PE of Kitex Garments is 36.8, while 3 year average PE is 21.61. Also latest EV/EBITDA of Kitex Garments is 30.48 while 3yr average is 19.47.
Has the share price of Kitex Garments grown faster than its competition?
Kitex Garments has given lower returns compared to its competitors. Kitex Garments has grown at ~13.19% over the last 8yrs while peers have grown at a median rate of 29.9%
Is the promoter bullish about Kitex Garments?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Kitex Garments is 56.66% and last quarter promoter holding is 56.66%.
Are mutual funds buying/selling Kitex Garments?
There is Insufficient data to gauge this.