Kitex Garments Financial Statements

Kitex Garments Quarterly Results

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 32.70 2.08 0.02 6.79
Op profit growth (1.40) (21) (9.80) 11.60
EBIT growth 27.90 (25) (19) 16.20
Net profit growth 62.70 (24) (24) 11.30
Profitability ratios (%)        
OPM 17.90 24.10 31.10 34.50
EBIT margin 19.60 20.30 27.70 34.20
Net profit margin 14 11.40 15.30 20.10
RoCE 22.70 22.60 31.20 39.50
RoNW 4.53 3.37 5.15 8.72
RoA 4.05 3.17 4.30 5.80
Per share ratios ()        
EPS 15.50 10.50 19.30 23.30
Dividend per share 1.50 1.50 1.50 1.50
Cash EPS 11.60 6.04 13 18.60
Book value per share 96.40 75 93.60 76.80
Valuation ratios        
P/E 5.55 21.30 15.90 13.40
P/CEPS 7.46 37.10 23.60 16.80
P/B 0.89 2.99 3.27 4.06
EV/EBIDTA 3.28 10.30 11 9.29
Payout (%)        
Dividend payout 3.97 18.40 5.14 4.57
Tax payout (25) (35) (35) (34)
Liquidity ratios        
Debtor days 92.50 83.20 75.90 53.10
Inventory days 53.90 42 17.90 8.10
Creditor days (28) (39) (43) (32)
Leverage ratios        
Interest coverage (21) (19) (16) (12)
Net debt / equity -- (0.20) (0.30) (0.40)
Net debt / op. profit (0.10) (0.70) (0.70) (0.70)
Cost breakup ()        
Material costs (43) (39) (36) (39)
Employee costs (16) (18) (17) (15)
Other costs (22) (19) (16) (11)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 739 557 546 546
yoy growth (%) 32.70 2.08 0.02 6.79
Raw materials (321) (217) (195) (211)
As % of sales 43.50 38.90 35.80 38.70
Employee costs (121) (99) (92) (84)
As % of sales 16.40 17.70 16.90 15.30
Other costs (164) (108) (89) (62)
As % of sales 22.20 19.40 16.30 11.40
Operating profit 132 134 170 188
OPM 17.90 24.10 31.10 34.50
Depreciation (26) (23) (22) (21)
Interest expense (7) (5.80) (9.30) (16)
Other income 39.20 2.67 3.46 19.80
Profit before tax 138 107 142 171
Taxes (34) (37) (50) (59)
Tax rate (25) (35) (35) (34)
Minorities and other -- (6.50) (8.80) (2.40)
Adj. profit 103 63.50 83.50 110
Exceptional items -- -- -- --
Net profit 103 63.50 83.50 110
yoy growth (%) 62.70 (24) (24) 11.30
NPM 14 11.40 15.30 20.10
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 138 107 142 171
Depreciation (26) (23) (22) (21)
Tax paid (34) (37) (50) (59)
Working capital 224 (0.90) -- 0.94
Other operating items -- -- -- --
Operating cashflow 301 45.70 70.40 91.80
Capital expenditure 67 (54) -- 53.60
Free cash flow 368 (8) 70.40 145
Equity raised 792 801 800 744
Investments 0.02 6.81 -- (6.80)
Debt financing/disposal (65) (102) -- 102
Dividends paid -- 9.98 3.56 3.56
Other items -- -- -- --
Net in cash 1,095 707 874 988
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 6.65 6.65 6.65 4.75
Preference capital -- -- -- --
Reserves 635 557 492 440
Net worth 641 563 499 445
Minority interest
Debt 96.10 90 8.02 8.29
Deferred tax liabilities (net) 10.80 17 20 21.30
Total liabilities 748 671 527 474
Fixed assets 254 254 206 188
Intangible assets
Investments 0.02 0.07 9.02 0.65
Deferred tax asset (net) 3.91 3.64 4.26 3.63
Net working capital 383 314 211 147
Inventories 130 129 87.80 40.50
Inventory Days 64.40 -- 57.50 27.10
Sundry debtors 252 165 123 131
Debtor days 124 -- 80.60 87.70
Other current assets 91.60 110 77.60 59.40
Sundry creditors (48) (43) (45) (46)
Creditor days 23.60 -- 29.40 30.70
Other current liabilities (43) (48) (33) (38)
Cash 107 99 96.90 135
Total assets 748 671 527 474
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Particulars ( Rupees In Crores.) Dec-2020 Sep-2020 Jun-2020 Mar-2020 Dec-2019
Gross Sales 121 133 89.60 146 251
Excise Duty -- -- -- -- --
Net Sales 121 133 89.60 146 251
Other Operating Income -- -- -- -- --
Other Income 0.77 2.45 2.91 20.90 6.48
Total Income 122 136 92.50 167 257
Total Expenditure ** 92.80 105 67.70 136 198
PBIDT 28.80 30.50 24.80 31.50 59.10
Interest 0.26 0.70 0.74 2.39 2.10
PBDT 28.60 29.80 24 29.10 56.90
Depreciation 5.47 5.82 6.54 6.50 6.56
Minority Interest Before NP -- -- -- -- --
Tax 8.47 6.08 5.09 8.02 14
Deferred Tax (0.90) 0.08 (0.30) (3) 1.37
Reported Profit After Tax 15.50 17.80 12.70 17.60 35
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 15.50 17.80 12.70 17.60 35
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 15.50 17.80 12.70 17.60 35
EPS (Unit Curr.) 2.34 2.68 1.90 2.65 5.26
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- 150
Equity 6.65 6.65 6.65 6.65 6.65
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 23.80 22.90 27.70 21.50 23.50
PBDTM(%) 23.60 22.40 26.80 19.90 22.70
PATM(%) 12.90 13.40 14.10 12 13.90
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