Kitex

Kitex Garments Limited is a garment manufacturer, knows for being a leader in the kidswear segment. Based in Kerala, it is one of the largest textile companies in South India. The company was founded in 1968 by MC Jabob. Kitex Garments headquarters are in Kizhakkambalam in Ernakulam. In fact the name Kitex is a shorter form of Kizhakkambalam Textiles.

Kitex Garments Limited is listed on both the National Stock Exchange and the BSE. The company got listed in the year 1995.

The market capitalisation of Kitex Ltd stood at over ₹1,600 crore as of February 28, 2024. Kitex share price has surged over 127% in the last three years.

Business operations

Kitex Garments Limited has its primary manufacturing plant at Kizhakkambalam near Kochi and manufactures over 4 lakh units daily. The company is building a new manufacturing plant in Warangal, Telangana. Another facility is planned for Sitamampur, Telangana, which will make a total of three manufacturing sites for the company. Kitex Garments’ products are widely accessible for purchase at top-tier retail stores globally and through numerous online platforms across Australia, Austria, Brazil, Canada, China, France, Germany, Liberia, India, Indonesia, Israel, Japan, Mexico, Poland, Saudi Arabia, Switzerland, UAE and USA.

Kitex Garments operates as a fully export-focused enterprise and serves conglomerates in the markets of the United States and Europe. Amazon, Target, Sam’s Club, Walmart, Carters, Buy-Buy Baby, Ross Stores are some of the leading brands from the company’s clientele.

In addition to Kitex Garments Limited's corporate brand, the company introduced its own 'Little Star' brand to the US market several years ago. Kitex Garments Limited has a tie-up with Lamaze Organic Baby-Wear. The joint venture offers a comprehensive selection of styles that range from bodysuits, overalls, pants and sleepwear.

Kitex Garments Limited creates knitted clothing for babies and young children. The company produces special knitted underwear with added value for adults. The company has put in place in-house knitting and processing facilities. It has facilities with sizable embroidery and screen-printing setups. The company uses reactive dyes for solid print products and pigment dyes for its printed products.

Financial Highlights

– Kitex Garments’ total revenue decreased to ₹601.05 crore in FY23 from ₹815.21 crore in FY22.

– Consolidated profit after tax (PAT) fell by 54.51% year-on-year as the profit recorded in FY23 was ₹56.92 crore, compared to ₹125.12 crore in FY22.

– The company’s standalone operating profit stood at ₹81.42 lakh in FY23 as against ₹175.78 lakh in FY22.

– Its earnings per share (EPS) stood at ₹8.56 in FY23 as against ₹18.82 in FY22.