Highlights
- Sales over the Year and quarter: The company experienced a substantial growth of 77.11 % in the past year, substantial increase in net sales/revenue by 5.44 %.
- Income over the Year and quarter: There has been decline in other income over the past year which is -81.03 %, Marginal increase in other income during this quarter, up by 29.48%.
- Profit over the Year and quarter: Significant improvement in profitability for Kitex Garments Limited. Notable increase of 565.26 % in net profit Year to Year, Kitex Garments Limited’s profitability increased by 31.92 % in this quarter.
- EPS over the Year and quarter: EPS increased by 573.33 % Year to Year. EPS increased by 34.67 % in previous quarter. Positive impact on shareholders.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 97.709 Cr | Rs. 164.131 Cr | Rs. 173.054 Cr | + 5.44 % | + 77.11 % |
| Expenses | Rs. 104.2 Cr | Rs. 131.55 Cr | Rs. 138.54 Cr | + 5.31 % | + 32.96 % |
| Operating Profit | Rs. -6.49 Cr | Rs. 32.58 Cr | Rs. 34.51 Cr | + 5.92 % | + 631.74 % |
| OPM % | -6.64 % | 19.85 % | 19.94 % | + 0.09 % | + 26.58 % |
| Other Income | Rs. 17.13 Cr | Rs. 2.51 Cr | Rs. 3.25 Cr | + 29.48 % | -81.03 % |
| Interest | Rs. 0.09 Cr | Rs. 1.89 Cr | Rs. 2.84 Cr | + 50.26 % | + 3055.56 % |
| Depreciation | Rs. 5.14 Cr | Rs. 5.2 Cr | Rs. 5.08 Cr | -2.31 % | -1.17 % |
| Profit before tax | Rs. 5.41 Cr | Rs. 28 Cr | Rs. 29.84 Cr | + 6.57 % | + 451.57 % |
| Tax % | 45.09 % | 46.54 % | 33.81 % | -12.73 % | -11.28 % |
| Net Profit | Rs. 2.97 Cr | Rs. 14.97 Cr | Rs. 19.75 Cr | + 31.93 % | + 564.98 % |
| EPS in Rs | Rs. 0.45 | Rs. 2.25 | Rs. 3.03 | + 34.67 % | + 573.33 % |
Today, we’re looking at Kitex Garments Limited’s financial performance for the Q4(Mar 2024).Starting with the top line, the company reported a robust year-over-year sales growth of 77.11 %. However, it did see a marginal increase of 5.44 % from the previous quarter. Expenses ticked up slightly by 5.31 % quarter-on-quarter, aligning with the annual rise of 32.96 %. Operating profit, while up 631.74 % compared to last year, faced a quarter-on-quarter increase of 5.92 %, signaling a short-term expansion in margins.
The Operating Profit Margin (OPM) % echoes this narrative, showing resilience on an annual basis with an increase of 26.58 %, but an expansion of 0.09 % sequentially. Other income rose by 29.48 % compared to the last quarter, despite an annual decline of -81.03 %. Interest expenses surged remarkably by 50.26 % from the previous quarter, yet the year-over-year increase remains at a moderate 3055.56 %. Depreciation costs fell by -2.31 % quarter-on-quarter, yet on an annual scale, they experienced a reduction of -1.17 %. Profit before tax grew annually by 451.57 % but saw an increase from the preceding quarter by 6.57 %.
Tax expenses as a percentage of profits decreased slightly by -11.28 % compared to last year, with a more notable quarter-on-quarter decrease of -12.73 %. Net profit rose by 564.98 % year-on-year but experienced a 31.93 % expansion from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual uptick of 573.33 % but a quarterly rise of 34.67 %. In summary, Kitex Garments Limited’s annual performance indicates steady growth, although the quarter-on-quarter figures suggest some areas may require strategic attention.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 97.709 Cr | Rs. 164.131 Cr | Rs. 173.054 Cr | + 5.44 % | + 77.11 % |
| Expenses | Rs. 104.2 Cr | Rs. 131.55 Cr | Rs. 138.54 Cr | + 5.31 % | + 32.96 % |
| Operating Profit | Rs. -6.49 Cr | Rs. 32.58 Cr | Rs. 34.51 Cr | + 5.92 % | + 631.74 % |
| Net Profit | Rs. 2.97 Cr | Rs. 14.97 Cr | Rs. 19.75 Cr | + 31.93 % | + 564.98 % |
| EPS in Rs | Rs. 0.45 | Rs. 2.25 | Rs. 3.03 | + 34.67 % | + 573.33 % |
In reviewing Kitex Garments Limited’s 2024(Q4) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales saw a robust 77.11 % year-on-year growth, however, there was a minor increase of 5.44 % from the previous quarter. Expenses rose by 32.96 % compared to the previous year, with a 5.31 % increase quarter-on-quarter. Operating Profit surged by 631.74 % annually, and saw a 5.92 % increase from the last quarter.
Net Profit showed yearly increase of 564.98 %, and experienced a 31.93 % increase from the previous quarter. Earnings Per Share (EPS) rose by 573.33 % annually, however rose by 34.67 % compared to the last quarter. In essence, while Kitex Garments Limited exhibits strong annual growth indicators, short-term improvements suggest the potential for recovery and the importance of strategic adjustments to counter market challenges effectively. That’s all for now in the financial sector.
