Kewal Kiran Clothing Limited (KKCL)

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Kewal Kiran Clothing Limited (KKCL) · mywealthgrid

About

Kewal Kiran Clothing Limited manufactures garments and apparel for the consumer discretionary sector, with a market capitalization of ₹3,158.23 Cr. The company operates with solid efficiency metrics: 19.62% operating margins, 16.14% ROE, and minimal leverage (D/E 0.05), indicating a financially stable business model.

Face value: ₹10

Market cap

₹2,930 Cr

P/E

19.8×

P/B

3.1×

Dividend yield

1.3%

ROE

16.1%

ROCE

18.9%

Debt / equity

0.05

OPM

19.6%

EPS (TTM)

₹24.0

Book value

₹152.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Quarterly revenue volatility (₹203–354 Cr across recent quarters) suggests seasonal or demand-driven fluctuation; verify how consistently the business performs and its sensitivity to fashion cycles. - Operating margins show recent compression toward the lower end of the range (Jun 2026 Q1 at 18.23%–19.35%); verify exposure to raw material cost inflation and pricing power. - Low institutional participation (FII 2.37%, DII 8.85%) may indicate limited analyst coverage or liquidity constraints; check trading volume and bid-ask spreads. - Stock down 9.73% over 12 months despite operational stability and regular dividends; verify whether PE of 21.33 is justified by medium-term growth visibility or if valuation is stretched.

Generated analysis · source review pending

Growth drivers

Fortress balance sheet (D/E 0.05) with consistent cash generation from operations (demonstrated by regular dividend payments) provides financial flexibility for growth investment or market expansion — verify management's capital allocation priorities. - Operating profitability sustained at 19–21% OPM across quarters indicates durable core business; verify whether volume growth or scale can expand margins further. - Domestic apparel sector benefits from rising consumer incomes and retail modernization; verify KKCL's addressable market share, brand positioning, and reach in tier-2 and tier-3 cities. - Verify if the company has export exposure or untapped international markets, given low FII participation may suggest limited global recognition.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹475.7+1.8%1Y

Quick read

rule-based

Pros

+Strong return on equity of 20.2% (3-yr avg)
+High return on capital employed of 25%
+Profit CAGR of 48.3% over the last 5 years
+Revenue CAGR of 32% over the last 5 years
+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 15×
+High promoter holding of 74.3% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

67/100

Business quality: 67
Growth: 65

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Page Industries LimitedPAGEINDPAGEIND	₹41,059 Cr	₹41,071 Cr	₹5,351 Cr	₹1,147 Cr	22%	₹756 Cr	14.6%	65.7%	52.5%	138
Arvind LimitedARVINDARVIND	₹13,997 Cr	₹15,438 Cr	₹9,798 Cr	₹1,067 Cr	10.8%	₹414 Cr	4.6%	16.2%	10.6%	73
Pearl Global Industries LimitedPGILPGIL	₹5,835 Cr	₹6,522 Cr	₹5,325 Cr	₹515 Cr	9.2%	₹310 Cr	5.4%	24.9%	21.2%	55
Gokaldas Exports LimitedGOKEXGOKEX	₹5,049 Cr	₹6,026 Cr	₹4,185 Cr	₹371 Cr	8.9%	₹103 Cr	2.5%	9.9%	4.7%	155
Lux Industries LimitedLUXINDLUXIND	₹3,287 Cr	₹3,867 Cr	₹2,933 Cr	₹187 Cr	6.1%	₹102 Cr	3.6%	10%	5.8%	263
Kewal Kiran Clothing LimitedKKCLKKCL	₹2,930 Cr	₹2,978 Cr	₹1,258 Cr	₹250 Cr	19.6%	₹148 Cr	12.6%	18.9%	16.1%	201
Sbc Exports LimitedSBCSBC	₹2,788 Cr	₹3,015 Cr	₹452 Cr	₹41 Cr	8.3%	₹40 Cr	6.3%	44.4%	37.2%	143
S. P. Apparels LimitedSPALSPAL	₹2,348 Cr	₹2,749 Cr	₹1,576 Cr	₹226 Cr	13.8%	₹105 Cr	6.4%	18.9%	11.2%	156
Kitex Garments LimitedKITEXKITEX	₹2,328 Cr	₹3,527 Cr	₹629 Cr	₹4 Cr	4.3%	₹-50 Cr	-2%	1.4%	-1.3%	173
Cantabil Retail India LimitedCANTABILCANTABIL	₹1,878 Cr	₹1,878 Cr	₹873 Cr	₹275 Cr	31%	₹97 Cr	11.2%	19.6%	22%	337
Dollar Industries LimitedDOLLARDOLLAR	₹1,543 Cr	₹1,820 Cr	₹1,887 Cr	₹205 Cr	10.6%	₹112 Cr	5.7%	17.1%	11.9%	236
Monte Carlo Fashions LimitedMONTECARLOMONTECARLO	₹1,082 Cr	₹1,411 Cr	₹1,286 Cr	₹220 Cr	17.8%	₹105 Cr	8.8%	17.5%	12.9%	384

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	462	503	530	303	608	779	861	1,003	1,213
COGS	-3	-30	213	159	288	372	427	475	583
Gross profit	—	—	317	144	320	407	434	528	630
	—	—	222	125	220	255	257	337	392
	—	—	95	19	100	152	177	191	238
OPM %	—	—	18%	6.3%	16.4%	19.5%	20.6%	19%	19.6%
Depreciation	—	—	8	7	7	9	10	32	44
Interest	5	7	9	7	5	6	4	10	14
	21	22	18	17	17	20	37	49	24
Profit before tax	—	—	96	23	105	157	200	198	203
Tax	35	39	23	3	24	38	45	48	50
Tax %	—	—	23.6%	12.3%	22.5%	24.1%	22.6%	24.5%	24.9%
	73	80	73	20	82	119	155	149	152
PAT margin %	15.8%	16%	13.8%	6.5%	13.4%	15.3%	18%	14.9%	12.6%
EPS (₹)	1,23,25,037	—	59.3	16.1	13.3	19.3	25.1	23.4	23
EPS adjusted (₹)	11.9	13	11.9	3.2	13.2	19.3	25.1	23.4	23
	0%	—	62.4%	180.5%	105.7%	41.4%	16%	0%	—
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12	12	12	12	12	12	62	62	62	62	62
Reserves	286	316	387	418	434	421	416	485	615	758	877
Minority interest	—	—	—	—	—	—	—	—	—	171	181
	29	29	48	93	88	46	77	51	2	108	48
	96	94	109	122	102	103	188	219	159	327	329
Total equity & liabilities	424	451	556	646	637	582	743	817	838	1,426	1,497
	—	58	68	79	76	81	85	108	108	478	484
CWIP	3	3	9	2	3	1	1	1	0	0	11
Investments	160	186	230	236	195	132	142	154	187	182	166
	262	204	249	329	363	368	516	554	543	766	834
Total assets	424	451	556	646	637	582	743	817	838	1,426	1,497

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	59.8%	47.6%	52.6%	52.2%	50.4%	52.6%	52%
EBITDA margin %	—	18%	6.2%	16.5%	19.5%	20.6%	19%	19.6%
EBIT margin %	—	16.4%	4%	15.3%	18.4%	19.4%	15.8%	16%
PAT margin %	16%	13.8%	6.5%	13.4%	15.3%	18%	14.9%	12.6%
Working capital
Receivable days	129	118	158	103	80	86	114	97
Inventory days	—	154	116	143	162	70	173	161
Payable days	—	—	84	68	47	37	83	57
NWC days	—	—	190	178	195	119	204	201
Leverage
Current ratio	1.98	2.69	3.18	2.37	2.56	4.79	2.46	3.43
Debt to EBITDA	—	0.93	2.49	0.77	0.33	0.01	0.57	0.2
Debt to equity	0.22	0.2	0.11	0.16	0.09	0	0.13	0.05
Interest coverage	3.2	11.9	4.3	24.3	25.6	46.8	20.5	15
Asset turnover	0.78	0.83	0.52	0.82	0.95	1.03	0.7	0.81
Return ratios
Return on assets %	12.4%	11.5%	3.4%	11%	14.6%	18.4%	10.5%	10.2%
Return on capital employed %	5.2%	23.4%	6.5%	23.9%	31.4%	32.5%	23.4%	18.9%
Return on equity %	18.7%	16.4%	4.6%	17.1%	21.8%	22.8%	18.2%	16.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.26%	74.26%	74.26%	74.26%	74.26%	74.26%	74.27%	74.27%	74.27%	74.27%	74.29%	74.29%
	2.61%	2.53%	2.1%	2.8%	2.81%	2.05%	2.39%	2.62%	2.38%	2.33%	2.32%	2.37%
	8%	8.62%	8.85%	6.91%	6.83%	7.21%	7.76%	8.5%	8.64%	8.83%	8.6%	8.85%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	15.13%	14.59%	14.79%	16.03%	16.1%	16.48%	15.58%	14.61%	14.71%	14.57%	14.79%	14.49%
No. of shareholders	—	—	—	—	—	—	—	—	35,368	34,175	33,321	32,735

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 3 fund houses

Held by these funds

2.43%

of the company's equity

All mutual funds

7.57%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

3 schemes · 3 fund houses

		Shares
Portfolio of Kotak Small Cap Fund	Kotak Mahindra Mutual Fund	9.15 L	46.12	0.23%	1.486%	-0
Small Cap FundNEW	ICICI Prudential Mutual Fund	5.79 L	29.17	0.3%	0.94%	—
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	48	0	0%	0%	+1

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

15 announcementsExport CSV

3 Sept 2026, 3:18 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

2 Sept 2026, 3:52 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

2 Sept 2026, 3:46 pmAGM/EGM

Annual General Meeting Intimation

AGM PDF

2 Sept 2026, 3:41 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

1 Sept 2026, 12:45 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

1 Sept 2026, 12:41 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

10 Aug 2026, 3:52 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

Analyst / Investor Meet PDF

8 Aug 2026, 3:14 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

Date	Category	Subject	Filing
3 Sept 2026, 3:18 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
2 Sept 2026, 3:52 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	59.8%	47.6%	52.6%	52.2%	50.4%	52.6%	52%
EBITDA margin %	—	18%	6.2%	16.5%	19.5%	20.6%	19%	19.6%
EBIT margin %	—	16.4%	4%	15.3%	18.4%	19.4%	15.8%	16%
PAT margin %	16%	13.8%	6.5%	13.4%	15.3%	18%	14.9%	12.6%
Working capital
Receivable days	129	118	158	103	80	86	114	97
Inventory days	—	154	116	143	162	70	173	161
Payable days	—	—	84	68	47	37	83	57
NWC days	—	—	190	178	195	119	204	201
Leverage
Current ratio	1.98	2.69	3.18	2.37	2.56	4.79	2.46	3.43
Debt to EBITDA	—	0.93	2.49	0.77	0.33	0.01	0.57	0.2
Debt to equity	0.22	0.2	0.11	0.16	0.09	0	0.13	0.05
Interest coverage	3.2	11.9	4.3	24.3	25.6	46.8	20.5	15
Asset turnover	0.78	0.83	0.52	0.82	0.95	1.03	0.7	0.81
Return ratios
Return on assets %	12.4%	11.5%	3.4%	11%	14.6%	18.4%	10.5%	10.2%
Return on capital employed %	5.2%	23.4%	6.5%	23.9%	31.4%	32.5%	23.4%	18.9%
Return on equity %	18.7%	16.4%	4.6%	17.1%	21.8%	22.8%	18.2%	16.2%

58

Interim dividend14 May 2026 · ex-date₹2
Interim dividend16 Feb 2026 · ex-date₹2
Interim dividend16 May 2025 · ex-date₹2
Interim dividend2 Feb 2024 · ex-date₹2
Interim dividend11 May 2023 · ex-date₹2
Interim dividend4 Nov 2022 · ex-date₹3
Interim dividend20 May 2022 · ex-date₹5
Interim dividend7 Feb 2022 · ex-date₹4
Interim dividend11 Nov 2021 · ex-date₹10
Interim dividend3 Feb 2021 · ex-date₹8
Interim dividend3 Nov 2020 · ex-date₹15
Final dividend7 Sept 2020 · ex-date₹1
Interim dividend4 Jun 2020 · ex-date₹6
Interim dividend6 Feb 2020 · ex-date₹15
Interim dividend4 Nov 2019 · ex-date₹10
Final dividend9 Sept 2019 · ex-date₹2
Interim dividend1 Jul 2019 · ex-date₹11
Interim dividend18 Mar 2019 · ex-date₹5
Interim dividend1 Feb 2019 · ex-date₹10
Interim dividend5 Nov 2018 · ex-date₹10
Final dividend30 Aug 2018 · ex-date₹1.5
Interim dividend31 Jul 2018 · ex-date₹7
Interim dividend20 Mar 2018 · ex-date₹5
Interim dividend30 Jan 2018 · ex-date₹9.5
Interim dividend26 Oct 2017 · ex-date₹10
Final dividend30 Aug 2017 · ex-date₹1.5
Interim dividend5 May 2017 · ex-date₹7
Interim dividend7 Feb 2017 · ex-date₹8.5
Interim dividend8 Nov 2016 · ex-date₹9
Final dividend30 Aug 2016 · ex-date₹1.5
Interim dividend17 Mar 2016 · ex-date₹7
Interim dividend16 Feb 2016 · ex-date₹8
Interim dividend19 Nov 2015 · ex-date₹8.5
Final dividend20 Aug 2015 · ex-date₹1.5
Interim dividend25 Jun 2015 · ex-date₹35
Interim dividend25 May 2015 · ex-date₹3
Interim dividend10 Feb 2015 · ex-date₹5
Interim dividend30 Oct 2014 · ex-date₹7.5
Interim dividend25 Sept 2014 · ex-date₹8
Final dividend19 Aug 2014 · ex-date₹1.5
Interim dividend20 May 2014 · ex-date₹5
Interim dividend4 Feb 2014 · ex-date₹7
Interim dividend24 Oct 2013 · ex-date₹7.5
Final dividend13 Aug 2013 · ex-date₹1
Interim dividend21 May 2013 · ex-date₹3
Interim dividend25 Feb 2013 · ex-date₹6.5
Interim dividend22 Nov 2012 · ex-date₹7
Final dividend25 Jul 2012 · ex-date₹4
Interim dividend15 Mar 2012 · ex-date₹6
Interim dividend3 Nov 2011 · ex-date₹7
Final dividend18 Aug 2011 · ex-date₹4
Interim dividend13 Apr 2011 · ex-date₹6
Interim dividend8 Nov 2010 · ex-date₹6.5
Dividend dividend21 Jul 2010 · ex-date₹6
Dividend dividend17 Jul 2009 · ex-date₹3
Dividend dividend18 Jul 2008 · ex-date₹2
Interim dividend5 Nov 2007 · ex-date₹2
Dividend dividend23 Jul 2007 · ex-date₹2.5

1

Board meeting to consider results6 Aug 2026

1

Bonus 4:116 Dec 2021 · ex-date

18 deals · 11 Oct 2021 – 25 Oct 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Oct 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	3,34,068	₹791.11	₹26.43 Cr
25 Oct 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	3,34,068	₹793.23	₹26.50 Cr
14 Oct 2021	M/S. PRARTHANA ENTERPRISES	Bulk	NSE	Sell	1,04,080	₹1,005.73	₹10.47 Cr
14 Oct 2021	M/S. PRARTHANA ENTERPRISES	Bulk	NSE	Buy	3,071	₹1,022.33	₹0.31 Cr
11 Oct 2021	NALANDA INDIA FUND LIMITED	Bulk	NSE	Sell	7,00,000	₹1,052.19	₹73.65 Cr
11 Oct 2021	MANSI SHARES & STOCK ADVISORS PVT LTD	Bulk	NSE	Buy	3,75,008	₹1,050.00	₹39.38 Cr
11 Oct 2021	MANSI SHARES & STOCK ADVISORS PVT LTD	Bulk	NSE	Sell	3,72,008	₹999.19	₹37.17 Cr
11 Oct 2021	M/S. PRARTHANA ENTERPRISES	Bulk	NSE	Buy	2,33,439	₹1,010.65	₹23.59 Cr
11 Oct 2021	NALANDA INDIA FUND LIMITED	Bulk	BSE	Sell	1,79,081	₹1,050.00	₹18.80 Cr
11 Oct 2021	SETU SECURITIES PVT LTD	Bulk	NSE	Sell	1,07,837	₹1,011.81	₹10.91 Cr

1–10 of 18

1 / 2

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	74	97	57	75	136	14	183
	46	76	-2	-18	-13	-185	-28
	-70	-85	-12	-52	-61	-20	-51
Net cash flow	27	88	43	5	62	-191	104
Free cash flow	60	94	46	51	126	-71	163
CFO / Operating profit %	77.7%	518%	56.9%	49.4%	76.7%	7.3%	77.1%

Kewal Kiran Clothing Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Investor Presentation and earnings call

58

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Kewal Kiran Clothing Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Investor Presentation and earnings call

Dividends58

Board meetings1

Bonus issues1

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

58

1

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