Kewal Kiran Clothing
KKCL NSE
Kewal Kiran Clothing
TextilesNSE: KKCL BSE: 532732 Textiles & Apparels
Key Fundamentals
MicrocapTextiles & ApparelsTextilesMarket Cap
₹3,080 Cr
Volatility
Moderate
P/E Ratio
20.6
EBITDA
₹262 Cr
Return on Equity
13.6%
Debt to Equity
0.14
Book Value
₹156.21
EPS
₹23.69
52W High
₹595
52W Low
₹408.35
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
1- Dividend payout has been low at 8.41% of profits over last 3 years
Growth Rate
Revenue Growth
17.53% higher than
3Y
Net Income Growth
2.08% lower than
3Y
Cash Flow Change
—
ROE
-9.63% lower than
3Y
ROCE
-7.73% higher than
3Y
EBITDA Margin (Avg.)
-7.23% higher than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoAI opinion · based on fundamentals
Risk medium
Kewal Kiran Clothing Ltd (KKCL) is a Rs 3,110 crore market cap branded apparel company trading at a PE of 20.7x with a 16% trailing ROE. Revenue has grown at a 16% CAGR over 3 years (FY25 revenue of Rs 1,003 crore) with FY26 sales surging 21% to Rs 1,213 crore, though working capital days have stretched from 100 to 147 days and the stock has delivered a negative 11% return over the past year.
Bull Case 8
- Strong revenue acceleration — FY26 sales grew 21% YoY to Rs 1,213 crore, up from 16.5% growth in FY25, with management targeting Rs 1,500 crore by FY28
- Robust long-term profit compounding — 5-year profit CAGR of 48% demonstrates strong operating leverage in the business model
- Q1 FY26 revenue surged 54.5% YoY to Rs 233.8 crore and net profit rose 26.9% to Rs 32 crore, indicating strong momentum post-acquisition integration
- Diversified brand portfolio across price segments — Killer, LawmanPg3, Integriti, Easies, and Kraus Jeans cover youth, premium, and value categories reducing single-brand risk
- Near debt-free balance sheet with debt-to-equity of just 0.05x; the company has been actively reducing debt
- Consistent ROE track record — 18% average over 10 years and 19% over 5 years, indicating efficient capital allocation
- Active retail expansion with 652 exclusive brand outlets as of Q2 FY26 (added 29 in a single quarter), driving distribution reach
- Reasonable valuation at PE of 20.7x relative to branded apparel peers, with operating profit margins improving to 19.6% in FY26 from 18.1% in FY25
Bear Case 8
- Working capital days have deteriorated sharply from 100 days to 147 days, indicating potential inventory buildup or slower receivables collection
- Stock has underperformed with -11% return over 1 year and -3% CAGR over 3 years despite strong earnings growth, suggesting market skepticism
- Net profit growth has been muted on a 3-year CAGR basis at just 8%, lagging revenue growth of 16% over the same period
- EBITDA margins compressed in Q1 FY26 to 17.8% from 18.2% YoY despite 54.5% revenue surge, suggesting cost pressures from rapid expansion
- Dividend yield of only 0.78% provides limited income support for investors during periods of capital depreciation
- 10-year stock CAGR of only 4% indicates prolonged periods of value stagnation despite consistent business performance
- Depreciation charges have risen sharply from Rs 10.4 crore in FY24 to Rs 44.3 crore in FY26, pressuring reported PAT as store count grows
- Interest costs have risen from Rs 4.4 crore in FY24 to Rs 14.5 crore in FY26, a 3.3x increase reflecting higher lease liabilities from aggressive outlet expansion
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 69d ago Neutral 1
- Investor meets scheduled Mumbai Jun 15
Kewal Kiran Clothing scheduled analyst and investor meetings for June 18, 2026, in Mumbai. The company clarified no unpublished price sensitive information will be shared.
TL;DR: Limited recent news flow for KKCL with only a routine investor meeting announcement. No material headwinds or positive catalysts have emerged in the current news cycle. The lack of negative developments is reassuring, but investors should watch for any updates following the June 18 meeting.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 178 | 262 | 200 | 219 | 151 | 308 | 255 | 288 | 234 | 354 | 301 | 324 | 279 |
| Expenses | 144 | 201 | 161 | 177 | 124 | 244 | 208 | 236 | 192 | 283 | 238 | 262 | 225 |
| Operating Profit | 34 | 62 | 39 | 42 | 28 | 64 | 47 | 52 | 42 | 71 | 63 | 62 | 54 |
| OPM % | 19% | 24% | 19% | 19% | 18% | 21% | 18% | 18% | 18% | 20% | 21% | 19% | 19% |
| Other Income | 11 | 8 | 9 | 9 | 11 | 34 | 2 | 3 | 14 | 7 | 3 | 0 | 13 |
| Interest | 2 | 1 | 1 | 1 | 1 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 |
| Depreciation | 2 | 3 | 3 | 3 | 3 | 9 | 10 | 10 | 11 | 11 | 11 | 12 | 13 |
| PBT | 41 | 66 | 44 | 48 | 35 | 86 | 36 | 41 | 41 | 63 | 51 | 47 | 51 |
| Tax % | 18% | 25% | 25% | 21% | 28% | 22% | 27% | 26% | 22% | 25% | 26% | 27% | 20% |
| Net Profit | 34 | 50 | 33 | 38 | 25 | 68 | 26 | 30 | 32 | 47 | 38 | 35 | 41 |
| EPS in Rs | 5.47 | 8.06 | 5.39 | 6.14 | 4.09 | 10.63 | 3.99 | 4.73 | 5.08 | 7.28 | 5.54 | 5.03 | 6.17 |
Profit & Loss
| Particulars | Mar 2006 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 87 | 444 | 466 | 460 | 503 | 530 | 303 | 608 | 779 | 860 | 1,003 | 1,213 | 1,258 |
| Expenses | 68 | 340 | 368 | 362 | 391 | 435 | 284 | 508 | 628 | 683 | 812 | 975 | 1,008 |
| Operating Profit | 20 | 104 | 99 | 98 | 112 | 95 | 19 | 100 | 152 | 177 | 191 | 238 | 250 |
| OPM % | 23% | 23% | 21% | 21% | 22% | 18% | 6% | 16% | 19% | 21% | 19% | 20% | 20% |
| Other Income | 1 | 7 | 17 | 21 | 22 | 18 | 17 | 17 | 20 | 37 | 49 | 24 | 23 |
| Interest | 1 | 3 | 3 | 5 | 7 | 9 | 7 | 5 | 6 | 4 | 10 | 14 | 14 |
| Depreciation | 2 | 4 | 5 | 6 | 8 | 8 | 7 | 7 | 9 | 10 | 32 | 44 | 47 |
| PBT | 18 | 104 | 108 | 108 | 119 | 96 | 23 | 105 | 157 | 199 | 198 | 203 | 212 |
| Tax % | 34% | 34% | 31% | 33% | 33% | 24% | 12% | 22% | 24% | 23% | 24% | 25% | — |
| Net Profit | 12 | 68 | 75 | 73 | 80 | 73 | 20 | 82 | 119 | 154 | 149 | 152 | 161 |
| EPS in Rs | — | 11.03 | 12.1 | 11.88 | 13.03 | 11.86 | 3.21 | 13.25 | 19.31 | 25 | 23.44 | 23.03 | 24.02 |
| Div. Payout % | 12% | 109% | 31% | 56% | 52% | 73% | 143% | 143% | 26% | 8% | 9% | 9% | — |
Balance Sheet
| Particulars | Mar 2006 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 12 | 12 | 12 | 12 | 12 | 12 | 62 | 62 | 62 | 62 | 62 |
| Reserves | 28 | 286 | 362 | 387 | 418 | 434 | 421 | 416 | 485 | 614 | 758 | 876 |
| Borrowings | 16 | 29 | 41 | 48 | 93 | 88 | 50 | 82 | 66 | 20 | 164 | 128 |
| Other Liabilities | 493 | 96 | 98 | 109 | 122 | 102 | 100 | 183 | 204 | 142 | 442 | 430 |
| Total Liabilities | 546 | 424 | 513 | 556 | 645 | 636 | 582 | 743 | 817 | 837 | 1,426 | 1,497 |
| Fixed Assets | 18 | 60 | 65 | 70 | 82 | 83 | 82 | 86 | 109 | 117 | 486 | 497 |
| CWIP | 8 | 3 | 7 | 9 | 2 | 3 | 1 | 1 | 1 | 0 | 0 | 0 |
| Investments | 2 | 160 | 205 | 230 | 235 | 195 | 131 | 140 | 152 | 177 | 174 | 165 |
| Other Assets | 518 | 202 | 236 | 248 | 325 | 356 | 368 | 516 | 554 | 543 | 766 | 834 |
| Total Assets | 546 | 424 | 513 | 556 | 645 | 636 | 582 | 743 | 817 | 837 | 1,426 | 1,497 |
Cash Flow
| Particulars | Mar 2006 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -4 | 47 | 80 | 56 | 0 | 51 | 97 | 57 | 75 | 136 | 14 | 183 |
| Investing | -12 | 10 | -9 | -14 | 3 | 46 | 62 | -2 | -18 | -10 | -184 | -28 |
| Financing | 496 | -79 | -27 | -46 | -11 | -70 | -85 | -32 | -52 | -66 | -20 | -51 |
| Net Cash Flow | 480 | -22 | 43 | -4 | -8 | 26 | 74 | 23 | 5 | 59 | -191 | 104 |
| Free Cash Flow | -18 | 36 | 66 | 47 | -12 | 40 | 94 | 48 | 51 | 126 | -70 | 166 |
| CFO/OP | 10 | 76 | 111 | 88 | 34 | 78 | 532 | 80 | 72 | 99 | 25 | 96 |
Ratios
| Particulars | Mar 2006 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 55 | 90 | 83 | 96 | 129 | 118 | 158 | 103 | 80 | 86 | 114 | 97 |
| Inventory Days | 179 | 156 | 128 | 146 | 262 | 267 | 168 | 376 | 493 | 123 | 548 | 385 |
| Days Payable | 93 | 131 | 99 | 120 | 141 | 148 | 122 | 178 | 143 | 65 | 264 | 135 |
| Cash Conversion Cycle | 142 | 114 | 112 | 121 | 250 | 237 | 205 | 301 | 430 | 144 | 398 | 346 |
| Working Capital Days | -1,933 | 75 | 51 | 62 | 111 | 122 | 60 | 25 | 48 | 70 | 84 | 106 |
| ROCE % | — | — | 30% | 26% | 26% | 20% | 6% | 19% | 26% | 31% | 18% | 17% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Kewal Kiran Clothing insights
63 extracted metrics + investor summaries across FY06–FY27.
Documents
1
Announcement under Regulation 30 (LODR)-Press Release / Media Release
10h - Page contains unrelated auction, tender, and court notices. 10h - Page contains unrelated auction, tender, and court notices.
2
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
10h - Audio recording of May 11, 2026 Q4 and FY26 results conference call uploaded online. 10h - Audio recording of May 11, 2026 Q4 and FY26 results conference call uploaded online.
3
Standalone And Consolidated Audited Financial Results For The Year Ended March 31, 2026 - Regulation 33(3)(D) Read With Regulation 30 Of SEBI (LODR ) Regulations, 2015
1d - Kewal Kiran reported FY26 audited results, declared Rs.2 interim dividend, record date 14 May 2026. 1d - Kewal Kiran reported FY26 audited results, declared Rs.2 interim dividend, record date 14 May 2026.
4
Corporate Action-Board approves Dividend
1d - Board declared 2nd interim dividend of Rs. 2 per share for FY26, payable on or after May 26, 2026. 1d - Board declared 2nd interim dividend of Rs. 2 per share for FY26, payable on or after May 26, 2026.
5
Record Date For Interim Dividend- Regulation 42(1)(A) SEBI (LODR ) Regulations, 2015
2d - Record date fixed on May 14, 2026 for 2nd interim dividend FY2025-26. 2d - Record date fixed on May 14, 2026 for 2nd interim dividend FY2025-26.
Frequently Asked Questions about Kewal Kiran Clothing
What does Kewal Kiran Clothing Ltd do?
Kewal Kiran Clothing Limited was incorporated in 1992. The Company is engaged in manufacturing, marketing and retailing of branded readymade garments and finished accessories. The company has consumers in Asia, Middle East and CIS (Commonwealth of Independent States). Its registered office is in ...
Where is Kewal Kiran Clothing Ltd (KKCL) listed?
Kewal Kiran Clothing Ltd trades as KKCL on the NSE and under code 532732 on the BSE.
Which sector does Kewal Kiran Clothing Ltd belong to?
Kewal Kiran Clothing Ltd is classified under the Textiles sector, in the Textiles & Apparels industry.
What is the market capitalisation of Kewal Kiran Clothing Ltd?
Kewal Kiran Clothing Ltd has a market capitalisation of ₹3,080 Cr, which places it in the Small Cap band.
What is the PE ratio of Kewal Kiran Clothing Ltd?
Kewal Kiran Clothing Ltd trades at a PE ratio of 20.60, on earnings per share of ₹23.69, against a book value of ₹156.21 per share.
What is the 52-week high and low of Kewal Kiran Clothing Ltd?
Over the last 52 weeks Kewal Kiran Clothing Ltd has traded between ₹408.35 and ₹595.
Does Kewal Kiran Clothing Ltd pay dividends?
Kewal Kiran Clothing Ltd has a dividend yield of 0.80%.
What is the Return on Equity (ROE) of Kewal Kiran Clothing Ltd?
Kewal Kiran Clothing Ltd reported a return on equity of 13.60%. Its debt-to-equity ratio is 0.14.
Company Information
Kewal Kiran Clothing Limited was incorporated in 1992. The Company is engaged in manufacturing, marketing and retailing of branded readymade garments and finished accessories. The company has consumers in Asia, Middle East and CIS (Commonwealth of Independent States). Its registered office is in Mumbai. [1][2]
Website kewalkiran.com
CEO Mr. Kewalchand Pukhraj Jain
Employees 1,783
Listed 2006-04-13
Face Value ₹ 10
Issued Size 6,16,25,185
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/KKCL.md for Kewal Kiran Clothing Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.