The company witnessed 40 percent growth in the year gone by and Sabu Jacob, chairman and managing director of Kitex Garments says it came on the back of capacity expansion. It plans to double capacity over the next three years.
The third largest supplier of infant garments globally, Kitex Garments derives 85 percent of revenue from sale of infant garments and 15 percent from fabric to Kitex Childrenwear.
The company aims to be the number one player in infant wear market over the next few years. It derives 100 percent of garment revenue from exports, with 90 percent coming from the US and the rest 10 percent from Europe.
The company witnessed 40 percent growth in the year gone by and Sabu Jacob, chairman and managing director of Kitex Garments says it came on the back of capacity expansion. It plans to double capacity over the next three years.
The company expects to maintain 20-25 percent growth on a sustainable basis going forward. Jacob expects to see rise in margins on account of better efficiencies. He expects to improve efficiencies on both automation (production) and labour front.
There are also plans to merge Kitex Garments and Kitex Childrenwear perhaps in FY16. Jacob says Kitex Childrenswear enjoys marginally higher capacity and its margin profile is similar to Kitex Garments.
The company is also hoping to register its own brand in the US by this year end.
Kitex Garments expect topline of Rs 550 crore in FY15 and Rs 750 crore in FY16.
Stay tuned for more..
Kitex Garments stock price
On September 24, 2014, at 11:09 hrs Kitex Garments was quoting at Rs 489.00, up Rs 7.30, or 1.52 percent. The 52-week high of the share was Rs 526.40 and the 52-week low was Rs 56.65.
The company's trailing 12-month (TTM) EPS was at Rs 12.39 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 39.47. The latest book value of the company is Rs 36.67 per share. At current value, the price-to-book value of the company is 13.34.
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