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GARMENTS LIMITEDMain BoardEquity2025-04-012026-03-312026-05-302026-05-23INRLakhsQuarterlyFourth quarterSingle segmentManufacturing of Garments2026-05-3015:00:002026-05-3017:00:00trueCash Flow IndirectStatement on impact of audit qualificationtruetrueNANAfalsetrue2026-02-13http://www.kitexgarments.com/wp-content/uploads/2026/04/RPT-Policy-25-26.pdffalsefalseNot Applicable for this quarter2026-01-012026-03-31AuditedStandalone110552000014989200012554120004740620000-916500026031000041152000289630003222770001117599000137813000013781300043100000-150700041593000096220000000096220000878500010500500019950000010.480.48000.480.481. The above standalone financial results of Kitex Garments Limited ("the Company") for the quarter and year ended March 31, 2026 were reviewed  by the Audit Committee and has been approved by the Board of Directors at its meetings held on May 29, 2026 and May 30, 2026 respectively. The audited Standalone Financial Results are prepared in accordance with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (“the Act”), read with Companies (Indian Accounting Standards) Rules, 2015, as amended, and other accounting principles generally accepted in India and guidelines issued by the Securities and Exchange Board of India (SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. <BR> <BR> 2. The Board of Directors has proposed final dividend of Rs. 0.5 per Equity share of face value Rs 1 each in the meeting held on May 30, 2026, which will be paid subject to the approval of the shareholders. <BR> <BR> 3. In accordance with Ind AS 108 on "Operating Segments", the Company operates in a single business segment viz. Textile - Infant/Kids Apparel Manufacturing and hence has only one reportable segment. <BR> <BR> 4. During the twelve month period Company has acquired additional stake of 10,99,65,660 shares in subsidiary Company "Kitex Apparel Parks Limited" (KAPL) to the tune of Rs 11,986.26 lakhs. The Company has also provided guarantee for borrowings availed by KAPL from banks for sanctioned amount of Rs 2,02,300 lakhs of which Rs.99,064.21 lakhs is outstanding as on March 31, 2026. <BR> <BR> 5. The figures of the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between the audited figures in respect of the financial year up to March 31, 2026 and March 31, 2025 and the unaudited published year-to-date figures up to December 31, 2025 and December 31, 2024 being the date of the end of third quarter of the financial year which were subjected to limited review by statutory auditors. <BR> <BR> 6. The Company holds an investment in an Associate, Kitex USA LLC, which amounts to Rs 2,776.24 lakhs as on March 31, 2026 (March 31, 2025: Rs. 2,776.24 lakhs).The Associate's net worth has been fully eroded as on that date. The management of the Company has evaluated the fair valuation of the investments in the Associate by considering various factors including product mix optimization, service led income de-risking and the expected bilateral treaties with US and Europe which is expected to serve as a positive catalyst in enhancing cost competitiveness, unlocking demand visibility and expanding sales volume and margins. Further the management of the Company believes that basis the above valuation performed based on the forecasted future revenue growth and projected cash flows with higher contribution margins that the fair value of the investment in the Associate is higher than the carrying value. Hence, no material adjustments would be required to be made to the carrying value of the investments in the Associate in the standalone financial results of the Company for the quarter and year March 31, 2026. <BR> <BR> 7. During February 2025, Board approved the Scheme of Arrangement between Kitex Childrenswear Limited (KCL) and the Company and their respective shareholders and creditors, in compliance with Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, providing for demerger of textile business of KCL into the Company, which will given effect on obtaining the necessary regulatory approvals. <BR> <BR> 8. On November 21, 2025, the Government of India has consolidated 29 existing labour legislations into a united framework comprising four Labour codes viz Code on wages 2019, Code on Social Security 2020, Industrial Relation Code 2020 and Occupational Safety, Health and Working Condition Code 2020 (collectively referred to as the New Labour Codes). The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company is already in compliance with the basic wages criteria as prescribed under New Labour Codes for own employees and there is no material impact on the Company. The Company will continue to monitor the finalisation of Central and state rules and government clarifications to recognise any financial impact as appropriate. <BR> <BR> 9. During the second quarter, the Company received payment of Rs. 9,486.65 lakhs from Associate Company, Kitex USA LLC towards outstanding overdue trade receivables. Accordingly, the Company assessed the expected credit loss allowance of Rs.1,750 lakhs as provision no longer required and were written back in the Statement of Profit & Loss which has been disclosed as exceptional item. <BR> <BR> 10. Previous year's/period’s figures have been regrouped/reclassified, wherever necessary, to conform to the classification on the current year’s/period's classification.2025-04-012026-03-31AuditedStandalone5916906000449187000636609300023447610000434065000130002100016049700012280400013938730005756021000610072000175000000785072000204500000115740002160740000568998000000056899800092000005781980001995000001113352320002.852.85002.852.85Processing Charges83839000Consumption of Stores and Spares25436000Power, Fuel, Water and Gas59472000Repairs and Maintenance19039000Others134491000Processing Charges436660000Consumption of Stores and Spares76271000Power, Fuel, Water and Gas278751000Repairs and Maintenance90779000Others5114120009164580004276700000022700000057441460000199450100054251000779289800029046000448950009211194000130471200001223735000981040000284289000010787570003567821000381317000525385000014465044000199500000113352320001153473200011534732000446936000446936000144182000719700059831500016404140002270600039165500041436100030966000208574100021521000113510002133840002331997000293031200014465044000Other Financial Assets29360000Income Tax Assets24891000Other Non-Current Assets44895000Other Financial Assets1078757000Other current assets381317000Other non-current liabilities7197000Other current financial liabilities30966000Other current liabilities215210001604570005902030001987655000000000-33416200000012280400000000-269820000-2000010359000000000-678240000208574300028708150000003024750000256834000000011986260000000095196000000000000000093102500000020000164590000-16755000-22251230000000000046399200017020000994320001446660000021819200056140900068871000630280000350760000981040000Remeasurements of post employment benefit obligations11900000Fair value changes on equity instruments carried through other comprehensive income-16100011739000Remeasurements of post employment benefit obligations12263000Fair value changes on equity instruments carried through other comprehensive income31000122940002954000309400087850009200000Kitex Garments Limited******Kitex Childrenswear Limited******Group CompanySale of goods or services3000000000NA2603900000Kitex Garments Limited******Kitex Childrenswear Limited******Group CompanyPurchase of goods or services950000000NA18688100000Kitex Garments Limited******Kitex Limited******Other related partiesSale of goods or services331000000NA32600000Kitex Garments Limited******Kitex Limited******Other related partiesPurchase of goods or services264000000NA2523700000Kitex Garments Limited******Anna Aluminium Private Limited******Other related partiesPurchase of goods or services4000000NA20200000Kitex Garments Limited******Sara Spices Pvt Ltd******Other related partiesPurchase of goods or services50000000NA207300000Kitex Garments Limited******Twenty20 Kizhakkambalam Association******Charitable SocietyAny other transactionDonation100000000NA2750000000Kitex Garments Limited******Kitex Littlewear Limited******Wholly owned SubsidiaryLoan50000000NA8000000Kitex Garments Limited******Kitex Littlewear Limited******Wholly owned SubsidiaryInterest received40000000NA1713900000Kitex Garments Limited******Kitex Littlewear Limited******Wholly owned SubsidiarySale of goods or services3000000NA6000000Kitex Garments Limited******Kitex Kidswear Limited******Wholly owned SubsidiaryLoan50000000NA8200000Kitex Garments Limited******Kitex Kidswear Limited******Wholly owned SubsidiaryInterest received40000000NA859100000Kitex Garments Limited******Kitex Kidswear Limited******Wholly owned SubsidiarySale of goods or services2000000NA6000000Kitex Garments Limited******Kitex Knits Limited******Wholly owned SubsidiaryLoan50000000NA132700000Kitex Garments Limited******Kitex Knits Limited******Wholly owned SubsidiaryInterest received40000000NA1030100000Kitex Garments Limited******Kitex Knits Limited******Wholly owned SubsidiarySale of goods or services2000000NA6000000Kitex Garments Limited******Kitex Socks Limited******Wholly owned SubsidiaryLoan50000000NA8100000Kitex Garments Limited******Kitex Socks Limited******Wholly owned SubsidiaryInterest received40000000NA318200000Kitex Garments Limited******Kitex Socks Limited******Wholly owned SubsidiarySale of goods or services2000000NA6000000Kitex Garments Limited******Kitex Packs Limited******Wholly owned SubsidiaryLoan50000000NA8000000Kitex Garments Limited******Kitex Packs Limited******Wholly owned SubsidiaryInterest received40000000NA315700000Kitex Garments Limited******Kitex Packs Limited******Wholly owned SubsidiarySale of goods or services2000000NA6000000Kitex Garments Limited******Kitex Babywear Limited******Wholly owned SubsidiaryLoan50000000NA8000000Kitex Garments Limited******Kitex Babywear Limited******Wholly owned SubsidiaryInterest received40000000NA193500000Kitex Garments Limited******Kitex Babywear Limited******Wholly owned SubsidiarySale of goods or services2000000NA6000000Kitex Garments Limited******Kitex Apparel Parks Limited******Subsidiary CompanyInvestment3470000000NA119862600000Kitex Garments Limited******Kitex Apparel Parks Limited******Subsidiary CompanyLoan1000000000NA90000000000Kitex Garments Limited******Kitex Apparel Parks Limited******Subsidiary CompanyAdvance900000000NA83794800000Kitex Garments Limited******Kitex Apparel Parks Limited******Subsidiary CompanySale of goods or services4000000000NA7449000000Kitex Garments Limited******Kitex Apparel Parks Limited******Subsidiary CompanyPurchase of goods or services7250000000NA23081500000Kitex Garments Limited******Scoobee Day Garments (India) Limited******Other related partiesSale of goods or services250000000NA36300000Kitex Garments Limited******Scoobee Day Garments (India) Limited******Other related partiesPurchase of goods or services200000000NA1117000000Kitex Garments Limited******Kitex USA LLC******Associate CompanyPurchase of goods or services150000000NA9507000000Kitex Garments Limited******Kitex USA LLC******Associate CompanySale of goods or services2500000000NA-2490700000Kitex Garments Limited******Sabu Meckamkunnel Jacob (Chairman and Managing Director)******PromoterRemuneration38252000NA3825200000Kitex Apparel Parks Limited******Kitex Building Systems L.L.C-FZ******Other related partiesPurchase of goods or services3500000000NA21896000000Kitex Apparel Parks Limited******Kitex Childrenswear Limited******Associate CompanyAny other transactionIssuance of shares1500000000NA51369700000Kitex Apparel Parks Limited******Kitex Childrenswear Limited******Associate CompanyPurchase of goods or services2000000000NA29102000004438239000AuditedQualified opinionMSKA & Associates LLPtrue2027-07-3163660930006366093000575602100057560210005689980005689980002.852.851446504400014465044000293031200029303120001153473200011534732000The Company has an investment in an Associate Company, Kitex USA LLC, amounting to Rs. 2,776.24 lakhs as at March 31, 2026 (March 31, 2025: Rs. 2,776.24 lakhs), which has fully eroded its net worth of the Associate as on that date. The management of the Company has determined the carrying value of investment from the said Associate as recoverable based on valuations performed and future projected cash flows, after considering the proposed changes in the business plan, forecasted future revenue growth and expected higher margin contributions. For the quarter and year ended March 31, 2026, the management of the Company has not been able to provide corroborative evidence to substantiate the reasonableness of the above-mentioned unobservable inputs. Accordingly, we are unable to comment on the recoverability of the carrying value of the investment in Kitex USA, LLC as at March 31, 2026. (Refer Note 6 to the standalone financial results)Qualified opinionRepetitiveNANAThe management of the Company has evaluated the fair valuation of the investments in the Associate by considering various factors including product mix optimization, service led income de-risking and the expected bilateral treaties with US and Europe which is expected to serve as a positive catalyst in enhancing cost competitiveness, unlocking demand visibility and expanding sales volume and margins. Further the management of the Company believes that basis the above valuation performed based on the forecasted future revenue growth and projected cash flows with higher contribution margins that the fair value of the investment in the Associate is higher than the carrying value.No further commentsSindhu ChandrasekharanBoby MichaelC P PhiliposeS ManikandanKizhakkambalam2026-05-30