Kewal Kiran Clothing Ltd Share Price – NSE  /  BSE

Readymade Garments/ Apparells, Small Cap

Kewal Kiran Clothing announced that the Board of Directors of the Company at its meeting held on 20 January 2024, inter alia, have recommended the interim dividend of Rs 2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Revenue from operations increased marginally to Rs 200.20 crore in Q3 FY24 as compared with Rs 190.90 crore posted in corresponding quarter last year. The company achieved double digit sales growth across product categories of Denims, shirts and T-shirts except in the winterwear segment.

Profit before tax jumped 22.79% YoY to Rs 44.40 crore in Q3 FY24.

During the quarter, EBITDA stood at Rs 38.9 crore, registering the growth of 15.8% as compared with Rs 33.6 crore posted in Q3 FY23. EBITDA margin expanded by 250 bps to 19.4% in Q3 FY24 as against 16.9% in Q3 FY23.

The company’s board has declared an interim dividend of Rs 2 per share for the financial year 2023-2024. The record date for the dividend has been fixed on Friday, 2 February 2024. The payment of the said interim dividend will be on or after 13 February 2024.

Meanwhile, the board of directors approved the re-appointment of Hemant P. Jain as joint managing director of the company for a term of five years, Dinesh P. Jain and Vikas P. Jain as whole-time director of the company for a term of five years.

Kewalchand P. Jain, chairman & managing director, said, “On the back of substantial brand equity and the strength of the Company’s brands to connect with consumers, we witnessed double digit growth in volumes as well as value across our key product categories of denims and shirts.

We have evolved over time from being denim-focused brand company to lifestyle led branded player reflecting in our performance with an impressive margin profile. The expansion in our EBIDTA margins coupled with PAT growth of nearly 23%, clearly demonstrates the brand equity and is a testimony to our robust business model. We continue to expand on our brand focused EBOs, wherein there has been a net addition of 23 Killer Brand EBOs in the quarter and the total count of our EBOs stand at 483 as on December 31, 2023.

We are very excited about ‘Killer Junior’, our kids wear focused brand, which will see despatches in Q4FY24. Further, we believe to have a good traction in Q4, paving the way for a healthy growth in Financial Year 2024 with an impressive margin profile. Notwithstanding the external slowdown, we are confident that we are on the right path to execute the growth strategy and our robust distribution model backed by in-house manufacturing capabilities will help us emerge stronger.”

Kewal Kiran Clothing (KKCL), a menswear focused apparel player with more than four decades of success led journey. It has been able to penetrate through its targeted consumer base with its 4 iconic menswear brands of Killer, Intergiti, Lawman & Easies. With 483 exclusive brand outlets and more than 80 distributors covering over 3,000 MBOs spread across India.

The scrip advanced 1.27% to settle at Rs 772.25 on Saturday, 20 January 2024.

Powered by Capital Market - Live News

Net profit of Kewal Kiran Clothing rose 23.57% to Rs 33.24 crore in the quarter ended December 2023 as against Rs 26.90 crore during the previous quarter ended December 2022. Sales rose 0.56% to Rs 200.20 crore in the quarter ended December 2023 as against Rs 199.09 crore during the previous quarter ended December 2022.

Powered by Capital Market - Live News

Kewal Kiran Clothing has fixed 02 February 2024 as record date for first interim dividend for FY 2024.

Powered by Capital Market - Live News