Apparels & Accessories company Kewal Kiran Clothing announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenue from Operations for Q4FY24 grew by 10.0% to Rs 219.4 crore as compared to Rs 199.5 crore in Q4FY23. This was led by positive volume growth. We witnessed growth across majority of our categories including an impressive growth of ~14% from our denimwear category.
- Gross Profit grew to Rs 97.9 crore in Q4FY24 as compared to Rs 89.2 crore in Q4FY23. Gross margin for Q4FY24 stood at 44.6% as compared to 44.7% in Q4FY23.
- EBIDTA for Q4FY24 grew by 8.7% to Rs 42.4 crore as compared to Rs 39.0 crore in Q4FY23. EBIDTA margin for Q4FY24 stood at 19.3% as compared to 19.6% in Q4FY23.
- PBT for Q4FY24 grew by 12.2% to Rs 47.6 crore as compared to Rs 42.4 crore in Q4FY23. PBT margin for Q4FY24 increased to 20.9% as compared to 20.5% in Q4FY23.
- PAT for Q4FY24 grew by 19.0% to Rs 37.6 crore as compared to Rs 31.6 crore in Q4FY23. PAT margin for Q4FY24 expanded to 16.5% as compared to 15.3% in Q4FY23.
FY24 Financial Highlights:
- Revenue from Operations for FY24 grew by 10.4% to Rs 860.5 crore as compared to Rs 779.5 crore in FY23 which was primarily driven by volume growth.
- Gross Profit grew to Rs 373.3 crore in FY24 as compared to Rs 330.6 crore in FY23 reflecting a growth of 12.9% YoY. Gross margin for FY24 expanded to 43.4% as compared to 42.4% in FY23.
- EBIDTA for FY24 grew by 16.6% to Rs 177.2 crore as compared to Rs 151.9 crore in FY23. EBIDTA margin for FY24 increased to 20.6% as compared to 19.5% in FY23.
- PBT for FY24 grew by an impressive 27.1% to Rs 199.7 crore as compared to Rs 157.1 crore in FY23. PBT margin for FY24 expanded to 22.2% as compared to 19.6% in FY23.
- PAT for FY24 grew by a robust 29.5% to Rs 154.5 crore as compared to Rs 119.3 crore in FY23. PAT margin for FY24 increased to an impressive 17.2% as compared to 14.8% in FY23.
Commenting on the results and performance, Kewalchand P. Jain, Chairman & Managing Director said: “I am very happy to announce another year of industry leading performance with double digit sales growth in FY2024. Aligning with our strategic vision of expanding and diversifying our Casual Wear portfolio and broaden our Women’s Denim & Casual Wear offering, the Board has approved acquisition of 50% stake in Kraus Casuals Private Limited, which provides us a strategic opportunity to consolidate our position further and increase our scale of operations. We anticipate this transaction to be earnings per share accretive and also generating enduring value for our shareholders in the years ahead."