KITEX the global leader crosses 1000 crore revenue

KITEX, the global leader in the manufacturing and export of Infant Garments has crossed the magical figure of 1000 crore in total revenue. In the financial year of 2018-19, Kitex registered a total revenue of 1005 crore which comprise of Rs 630 crore by the listed entity KITEX Garments Limited and Rs 375 crore by KITEX Childrens Wear Limited. KITEX garments limited’s standalone total revenue has reported a growth of 12.38 % in the fiscal.

For the year ended March 31, 2019:

– Total Revenue stood at Rs. 629.26 crore, y-o-y growth of 12.38%

– EBITDA of Rs.161.33 crore; y-o-y growth of 17%

– PAT stood at Rs.81.45 crore; y-o-y growth of 16.32%

– Basic EPS for FY19 stood at Rs. 12.22, as compared to Rs. 10.64 for FY18

For the Quarter ended March 31, 2019: (Q4 FY19):

– Total Revenue stood at Rs. 181.62 crore, growth of 37%

– PAT stood at Rs. 24.37 crore as compared to Rs. 10.32 crore in the previous quarter

– Basic EPS for Q4FY19 stood at Rs. 3.64, as compared to Rs. 1.64 for Q4FY18

Commenting on the result, Sabu M. Jacob, the MD and CEO, said “We are happy to touch the number of 1000 crore in total revenue. By 2025, our target is to attain a total revenue of Rs 2165 crore from KITEX Garments Limited and Rs 1000 crore from KITEX Childrens Wear Limited.”

Established in 1992, as part of the renowned Anna-Kitex group of companies, Kitex is the world’s third largest manufacturer of children’s apparel. It manufactures clothing for the age group that ranges from infants up to 24 months, primarily targeting the US market. A whopping six lakh pieces of infant apparel are being manufactured at Kitex factory a day. Ninety percent of the export is to US and the rest to European countries. Kitex has been a leading supplier of infant wear to the best-known global brands and retail giants like Walmart, Target, Amazon, Carter’s, Gerber, Oshkosh, Buy Buy Baby, Sam’s club etc. The company aims to increase the manufacturing capacity to 22 lakh per day by 2025. Besides, a new fleet of baby products; socks, diaper, baby wet wipers are being planned to be manufactured from the Kitex factory at Kizhakkambalam in Kochi eyeing global market.

Shares of KITEX GARMENTS LTD. was last trading in BSE at Rs.111.1 as compared to the previous close of Rs. 109.95. The total number of shares traded during the day was 5527 in over 133 trades.

The stock hit an intraday high of Rs. 112.5 and intraday low of 110. The net turnover during the day was Rs. 615153.

Courtesy: Equity Bulls