Retail Stock Declares 23.4% Jump In PAT, Sets Feb 2 As Record Date For Dividend

Small cap company operating in the retail sector, Kewal Kiran Clothing Ltd on January 20, 2024 declared its financial results and fixed February 2, 2024 as the record date for 1st interim dividend. Kewal Kiran Clothing shares offered shareholders return of 54% in last 1-year and 230% in last 2-years. The last trading price of Kewal Kiran Clothing shares on BSE is Rs 772.25 apiece (as on January 20, 2024). Check details below:

Kewal Kiran Declares 1st Interim Dividend: As per the exchange filing of the company, "the Board of Directors have in their meeting held on January 20, 2024 declared a 1st interim dividend @ 20% i.e Rs. 2/- per share on 6,16,25,185 equity shares of Rs. 10/- each for the financial year 2023-24 and that the date of payment of the said interim dividend will be on or after February 13, 2024."

Kewal Kiran Clothing Q3 Results: As per the BSE filing of the company, revenue from operations for Q3FY24 grew by 0.6% to Rs 200.2 crores as compared to Rs 199.1 crores in Q3FY23. The Company achieved double digit sales growth across product categories of Denims, Shirts and T-shirts except in the winterwear segment. It declared its gross profit jumped to Rs 86.7 crores in Q3FY24 as compared to Rs 80.9 crores in Q3FY23. Gross margin for Q3FY24 improved to 43.3% as compared to 40.6% in Q3FY23. EBIDTA for Q3FY24 grew by 15.8% to Rs 38.9 crores as compared to Rs 33.6 crores in Q3FY23. EBIDTA margin for Q3FY24 expanded by 250 bps to an impressive 19.4% as compared to 16.9% in Q3FY23. PBT for Q3FY24 soared by 22.8% to Rs 44.4 crores as compared to Rs 36.2 cr in Q3FY23. PBT margin for Q3FY24 stood at 21.2% as compared to 17.6% in Q3FY23.

PAT for Q3FY24 grew by 23.4% to Rs 33.3 crores as compared to Rs 27.0 crores in Q3FY23. PAT margin for Q3FY24 expanded to 15.9% as compared to 13.1% in Q3FY23.

Commenting on the results and performance, Kewalchand P. Jain, Chairman & Managing Director said, "We have continuously endeavoured to climb higher which has helped us to maintain our position as one of the leading branded apparel makers because of our ability to keep innovating and motivating ourselves to excel. Our focus is to provide superior value to our consumers, drive competitive volume growth, and invest further on excelling our brands. In this direction, 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."

Kewal Kiran Clothing Stock Performance & Return: The 52-week high price of Kewal Kiran Clothing shares on BSE is quoted at Rs 825.85 apiece and 52-week low price is Rs 364.85 apiece, respectively. The company has a market capitalisation of Rs 4759.00 crore. Kewal Kiran Clothing shares offered shareholders return of 15% in last 6-months. In last 3-years, the scrip offered maximum return of 316% and rose 216% in last 5-years.

About Kewal Kiran Clothing Limited: Kewal Kiran Clothing Limited ("KKCL"), a menswear focused apparel player with more than four decades of success led journey. With its integrated operations comprising of designing - manufacturing - branding - retailing, the company 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 80+ Distributors covering 3,000+ MBOs spread across India and presence across national chain stores, the Company has a widespread distribution in India.

Disclaimer:

The stock highlights the dividend, Q3 and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.