Integrated Filing — IndAS



General information about company
Scrip Code 521248
NSE Symbol KITEX
MSEI Symbol NOTLISTED
ISIN INE602G01020
Name of company KITEX GARMENTS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 29-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 20-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Manufacturing of Garments
Start date and time of board meeting 29-May-2025   15:00:00
End date and time of board meeting 29-May-2025   18:30:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 3001695000 9828046000
Other income 46842000 185411000
Total income 3048537000 10013457000
2 Expenses
(a) Cost of materials consumed 1403973000 4392414000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 123995000 -167952000
(d) Employee benefit expense 397375000 1586218000
(e) Finance costs 49784000 140172000
(f) Depreciation, depletion and amortisation expense 31580000 157450000
(f) Other Expenses
1 Processing Charges 194318000 673127000
2 Consumption of Stores and Spares 44050000 165221000
3 Power, Fuel, Water and Gas 101298000 395641000
4 Repairs and Maintenance 26582000 105346000
5 Others 198745000 670398000
Total other expenses 564993000 2009733000
Total expenses 2571700000 8118035000
3 Total profit before exceptional items and tax 476837000 1895422000
4 Exceptional items 0 0
5 Total profit before tax 476837000 1895422000
6 Tax expense
7 Current tax 185069000 606569000
8 Deferred tax -26394000 -68607000
9 Total tax expenses 158675000 537962000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations 318162000 1357460000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period 318162000 1357460000
17 Other comprehensive income net of taxes -3430000 -3543000
18 Total Comprehensive Income for the period 314732000 1353917000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 330465000 1387327000
Total profit or loss, attributable to non-controlling interests -12302000 -29867000
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 327034000 1383784000
Total comprehensive income for the period attributable to owners of parent non-controlling interests -12302000 -29867000
21 Details of equity share capital
Paid-up equity share capital 199500000 199500000
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve 10130400000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.66 6.95
Diluted earnings (loss) per share from continuing operations 1.66 6.95
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.66 6.95
Diluted earnings (loss) per share from continuing and discontinued operations 1.66 6.95
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 2317328000
Capital work-in-progress 13912786000
Investment property
Goodwill 0
Other intangible assets 165000
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 673000
Trade receivables, non-current
Loans, non-current 0
Other non-current financial assets 111743000
Total non-current financial assets 112416000
Deferred tax assets (net) 68605000
Other non-current assets 2212721000
Total non-current assets 18624021000
2 Current assets
Inventories 1906613000
Current financial asset
Current investments 0
Trade receivables, current 3395352000
Cash and cash equivalents 393966000
Bank balance other than cash and cash equivalents 283028000
Loans, current 0
Other current financial assets 327906000
Total current financial assets 4400252000
Current tax assets (net)
Other current assets 935295000
Total current assets 7242160000
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 25866181000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 199500000
Other equity 10130400000
Total equity attributable to owners of parent 10329900000
Non controlling interest 1767827000
Total equity 12097727000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 9199908000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities
Total non-current financial liabilities 9199908000
Provisions, non-current 116896000
Deferred tax liabilities (net)
Deferred government grants, Non-current
Other non-current liabilities 1585304000
Total non-current liabilities 10902108000
Current liabilities
Current financial liabilities
Borrowings, current 1625060000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 37789000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 735910000
Total Trade payable 773699000
Other current financial liabilities 63162000
Total current financial liabilities 2461921000
Other current liabilities 63397000
Provisions, current 45431000
Current tax liabilities (Net) 295597000
Deferred government grants, Current
Total current liabilities 2866346000
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 13768454000
Total equity and liabilites 25866181000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurements of post employment benefit obligations -4536000 -4536000
2 Fair value changes on equity instruments carried through other comprehensive income -47000 -198000
Total Amount of items that will not be reclassified to profit and loss -4583000 -4734000
2 Income tax relating to items that will not be reclassified to profit or loss -1153000 -1191000
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income -3430000 -3543000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 1895422000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 140172000
Adjustments for decrease (increase) in inventories -253999000
Adjustments for decrease (increase) in trade receivables, current -1400141000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 0
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 455116000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 0
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 157450000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains -44385000
Adjustments for dividend income 0
Adjustments for interest income 21164000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) -4970000
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) -934000
Other adjustments for non-cash items 120000000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -852855000
Net cash flows from (used in) operations 1042567000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 499731000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 542836000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 2986000
Purchase of property, plant and equipment 5051496000
Proceeds from sales of investment property 0
Purchase of investment property -573540000
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 17087000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -88811000
Net cash flows from (used in) investing activities -4546694000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 4132632000
Repayments of borrowings 0
Payments of lease liabilities 0
Dividends paid 99932000
Interest paid 130496000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities 3902204000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -101654000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents -2506000
Net increase (decrease) in cash and cash equivalents -104160000
Cash and cash equivalents cash flow statement at beginning of period 498126000
Cash and cash equivalents cash flow statement at end of period 393966000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 M/s MSKA & Associates Yes 31-Jul-2027


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 10013457000 10013457000
2 Total Expenditure 8118035000 8118035000
3 Net Profit/(Loss) 1357460000 1357460000
4 Earnings Per Share 6.95 6.95
5 Total Assets 25866180000 25866180000
6 Total Liabilities 13768454000 13768454000
7 Net Worth 12097727000 12097727000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Whether appeared first time Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)


Text Block
Textual Information(1) The Group has an investment in Kitex USA LLC, an Associate Company amounting to Rs 2,776.24 lakhs (March 31,2024: Rs 2,776.24 lakhs), which has been written off in consolidated financial results due to recognition of Groups share of loss of associate to extent of investment. The Group also, has trade receivables from Associate amounting to Rs. 12,277.57 lakhs as at March 31, 2025 (March 31, 2024: Rs. 10,225.12 lakhs) which is considered good and recoverable by management of Holding Company based on future projected cash flows considering the proposed changes in the business plan, forecasted future revenue growth and increased margin contributions. For the year ended March 31, 2025, the management of the Holding Company has not been able to provide corroborative evidence to substantiate the reasonableness of the abovementioned unobservable inputs. Accordingly, we are unable to comment on the recoverability of the trade receivable balances from Kitex USA, LLC as at March 31, 2025. (Refer Note 6 to the consolidated financial results).
Textual Information(2) NA
Textual Information(3) NA
Textual Information(4) The management of the Company considers the trade receivables from the Associate to be good and recoverable based on the evaluation of the future projected cash flows which considers the proposed changes in the business plan, forecasted revenue growth, increased margin contributions etc.
Textual Information(5) No further comments


Signatories detail
Name of CEO / Managing director NA
Name of CFO Boby Michael
Name of audit committee chairman C P Philipose
Name of statutory auditor Geetha Jeyakumar
Name of other signatory, if any, with designation Sindhu Chandrasekharan (Whole-Time Director)
Place Kizhakkambalam
Date 29-May-2025