Board Change • Jun 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Amparyil Mathew was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Jun 09
Kitex Garments Limited Announces Resignation of Chenakkott Philipose Philipose from Independent Director Role, Effective June 06, 2026 Kitex Garments Limited had announced that Mr. Chenakkott Philipose Philipose, Independent Director of the Company, vide his letter dated June 06, 2026, had tendered his resignation as the Independent Director of the Company, with effect from close of business hours on June 06, 2026, due to personal reasons. Consequently, he also ceased to be member(s) /chairperson(s), as the case may be, of Committee(s) of the Board. Mr. Chenakkott Philipose Philipose confirmed that there are no material reasons for his resignation other than those mentioned in his resignation letter. Reported Earnings • Jun 01
Full year 2026 earnings released: EPS: ₹0.30 (vs ₹6.95 in FY 2025) Full year 2026 results: EPS: ₹0.30 (down from ₹6.95 in FY 2025). Revenue: ₹7.19b (down 27% from FY 2025). Net income: ₹59.1m (down 96% from FY 2025). Profit margin: 0.8% (down from 14% in FY 2025). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • May 30
Kitex Garments Limited Recommends Final Dividend for the Financial Year Ended March 31, 2026 Kitex Garments Limited at its board of directors meeting held on May 30, 2026, recommended a final dividend of INR 0.50 per equity share of the face value of INR 1.00 each (at the rate of 50%) for the financial year ended March 31, 2026, subject to approval of the Members of the Company at the upcoming Annual General Meeting. Aankondiging • May 25
Kitex Garments Limited to Report Q4, 2026 Results on May 29, 2026 Kitex Garments Limited announced that they will report Q4, 2026 results on May 29, 2026 New Risk • Feb 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Share price has been highly volatile over the past 3 months (9.6% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.8% net profit margin). Reported Earnings • Feb 16
Third quarter 2026 earnings released: ₹0.47 loss per share (vs ₹1.86 profit in 3Q 2025) Third quarter 2026 results: ₹0.47 loss per share (down from ₹1.86 profit in 3Q 2025). Revenue: ₹1.87b (down 35% from 3Q 2025). Net loss: ₹93.9m (down 125% from profit in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Feb 06
Kitex Garments Limited to Report Q3, 2026 Results on Feb 13, 2026 Kitex Garments Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹178, the stock trades at a trailing P/E ratio of 38.1x. Average trailing P/E is 19x in the Luxury industry in India. Total returns to shareholders of 202% over the past three years. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹155, the stock trades at a trailing P/E ratio of 33.1x. Average trailing P/E is 19x in the Luxury industry in India. Total returns to shareholders of 152% over the past three years. Reported Earnings • Nov 13
Second quarter 2026 earnings released: ₹0.08 loss per share (vs ₹1.87 profit in 2Q 2025) Second quarter 2026 results: ₹0.08 loss per share (down from ₹1.87 profit in 2Q 2025). Revenue: ₹1.34b (down 38% from 2Q 2025). Net loss: ₹15.5m (down 104% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Nov 07
Kitex Garments Limited to Report Q2, 2026 Results on Nov 12, 2025 Kitex Garments Limited announced that they will report Q2, 2026 results on Nov 12, 2025 New Risk • Sep 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (5.0% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risk Paying a dividend despite having no free cash flows. Declared Dividend • Aug 23
Dividend of ₹0.50 announced Shareholders will receive a dividend of ₹0.50. Ex-date: 10th September 2025 Payment date: 17th October 2025 Dividend yield will be 0.3%, which is lower than the industry average of 0.4%. Sustainability & Growth Dividend is covered by earnings (7% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 5.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Aug 22
Kitex Garments Limited, Annual General Meeting, Sep 17, 2025 Kitex Garments Limited, Annual General Meeting, Sep 17, 2025, at 11:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹208, the stock trades at a trailing P/E ratio of 31.5x. Average trailing P/E is 25x in the Luxury industry in India. Total returns to shareholders of 173% over the past three years. New Risk • Aug 07
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (5.0% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change). Reported Earnings • Aug 05
First quarter 2026 earnings released: EPS: ₹1.04 (vs ₹1.37 in 1Q 2025) First quarter 2026 results: EPS: ₹1.04 (down from ₹1.37 in 1Q 2025). Revenue: ₹1.97b (up 3.3% from 1Q 2025). Net income: ₹207.6m (down 24% from 1Q 2025). Profit margin: 11% (down from 14% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹216, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 25x in the Luxury industry in India. Total returns to shareholders of 170% over the past three years. Aankondiging • Jul 30
Kitex Garments Limited to Report Q1, 2026 Results on Aug 04, 2025 Kitex Garments Limited announced that they will report Q1, 2026 results on Aug 04, 2025 Reported Earnings • May 31
Full year 2025 earnings released: EPS: ₹6.95 (vs ₹2.82 in FY 2024) Full year 2025 results: EPS: ₹6.95 (up from ₹2.82 in FY 2024). Revenue: ₹10.0b (up 62% from FY 2024). Net income: ₹1.39b (up 146% from FY 2024). Profit margin: 14% (up from 9.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 52% per year, which means it is well ahead of earnings. Aankondiging • May 20
Kitex Garments Limited to Report Q4, 2025 Results on May 29, 2025 Kitex Garments Limited announced that they will report Q4, 2025 results on May 29, 2025 Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹297, the stock trades at a trailing P/E ratio of 59.4x. Average trailing P/E is 24x in the Luxury industry in India. Total returns to shareholders of 259% over the past three years. New Risk • May 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 6.8% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Share price has been volatile over the past 3 months (8.6% average weekly change). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹208, the stock trades at a trailing P/E ratio of 41.5x. Average trailing P/E is 22x in the Luxury industry in India. Total returns to shareholders of 113% over the past three years. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹170, the stock trades at a trailing P/E ratio of 34x. Average trailing P/E is 24x in the Luxury industry in India. Total returns to shareholders of 125% over the past three years. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹215, the stock trades at a trailing P/E ratio of 42.9x. Average trailing P/E is 27x in the Luxury industry in India. Total returns to shareholders of 183% over the past three years. Aankondiging • Feb 07
Kitex Garments Limited to Report Q3, 2025 Results on Feb 14, 2025 Kitex Garments Limited announced that they will report Q3, 2025 results on Feb 14, 2025 Aankondiging • Jan 13
Kitex Garments Limited Announces Cessation of Benni Joseph as Independent Director Kitex Garments Limited announced that Mr. Benni Joseph will cease to be the Independent Director of the Company upon completion of his second term of 5 (five) consecutive years with effect from the closure of business hours on January 11, 2025 and consequently will also cease to be member(s) /chairperson(s), as the case may be, of Committee(s) of the Board. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹871, the stock trades at a trailing P/E ratio of 58.5x. Average trailing P/E is 30x in the Luxury industry in India. Total returns to shareholders of 376% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹742, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 29x in the Luxury industry in India. Total returns to shareholders of 342% over the past three years. Reported Earnings • Oct 31
Second quarter 2025 earnings released: EPS: ₹5.61 (vs ₹1.28 in 2Q 2024) Second quarter 2025 results: EPS: ₹5.61 (up from ₹1.28 in 2Q 2024). Revenue: ₹2.19b (up 48% from 2Q 2024). Net income: ₹373.4m (up 375% from 2Q 2024). Profit margin: 17% (up from 5.3% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 53% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹539, the stock trades at a trailing P/E ratio of 47.2x. Average trailing P/E is 29x in the Luxury industry in India. Total returns to shareholders of 243% over the past three years. Aankondiging • Oct 25
Kitex Garments Limited to Report Q2, 2025 Results on Oct 30, 2024 Kitex Garments Limited announced that they will report Q2, 2025 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹542, the stock trades at a trailing P/E ratio of 47.5x. Average trailing P/E is 31x in the Luxury industry in India. Total returns to shareholders of 218% over the past three years. Aankondiging • Sep 28
Kitex Garments BoD Approves Acquisition of Kitex Childrenswear Kitex Garments Limited (BSE:521248)’s Board of Directors has approved the acquisition of Kitex Childrenswear Ltd., pending regulatory approvals. This decision was made in a recent board meeting, reflecting the company’s strategy to expand its business operations. As per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has stated that it will take immediate steps to complete the acquisition while ensuring compliance with all applicable regulations. Following this announcement, shares of Kitex Garments traded 1.31% higher at INR 474.35 on the NSE, indicating a positive response from the market to the acquisition news. Upcoming Dividend • Sep 16
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 20 September 2024. Payment date: 28 October 2024. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.0%). In line with average of industry peers (0.4%). Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹425, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 30x in the Luxury industry in India. Total returns to shareholders of 152% over the past three years. Aankondiging • Sep 04
Kitex Garments Limited, Annual General Meeting, Sep 28, 2024 Kitex Garments Limited, Annual General Meeting, Sep 28, 2024, at 11:00 Indian Standard Time. Declared Dividend • Sep 01
Dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 20th September 2024 Payment date: 28th October 2024 Dividend yield will be 0.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (18% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to ₹344, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 30x in the Luxury industry in India. Total returns to shareholders of 133% over the past three years. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹4.11 (vs ₹1.18 in 1Q 2024) First quarter 2025 results: EPS: ₹4.11 (up from ₹1.18 in 1Q 2024). Revenue: ₹1.93b (up 33% from 1Q 2024). Net income: ₹273.2m (up 248% from 1Q 2024). Profit margin: 14% (up from 5.4% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. New Risk • Aug 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 3.8% per year over the past 5 years. High level of non-cash earnings (55% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.9% average weekly change). Aankondiging • Aug 05
Kitex Garments Limited to Report Q1, 2025 Results on Aug 14, 2024 Kitex Garments Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Reported Earnings • May 21
Full year 2024 earnings released: EPS: ₹8.47 (vs ₹8.66 in FY 2023) Full year 2024 results: EPS: ₹8.47 (down from ₹8.66 in FY 2023). Revenue: ₹6.31b (up 13% from FY 2023). Net income: ₹563.3m (down 2.1% from FY 2023). Profit margin: 8.9% (down from 10% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Aankondiging • May 16
Kitex Garments Limited to Report Q4, 2024 Results on May 20, 2024 Kitex Garments Limited announced that they will report Q4, 2024 results on May 20, 2024 New Risk • Apr 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Profit margins are more than 30% lower than last year (7.3% net profit margin). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₹181, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 27x in the Luxury industry in India. Total returns to shareholders of 76% over the past three years. New Risk • Feb 05
New major risk - Revenue and earnings growth Earnings have declined by 2.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.2% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (7.3% net profit margin). Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹275, the stock trades at a trailing P/E ratio of 63.5x. Average trailing P/E is 29x in the Luxury industry in India. Total returns to shareholders of 161% over the past three years. Aankondiging • Jan 22
Kitex Garments Limited to Report Q3, 2024 Results on Jan 31, 2024 Kitex Garments Limited announced that they will report Q3, 2024 results on Jan 31, 2024 Aankondiging • Oct 27
Kitex Garments Limited to Report Q2, 2023 Results on Nov 06, 2023 Kitex Garments Limited announced that they will report Q2, 2023 results on Nov 06, 2023 Board Change • Sep 15
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non Executive Director Chenakkott Philipose was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Sep 15
Upcoming dividend of ₹1.50 per share at 0.8% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 29 October 2023. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (0.5%). Aankondiging • Sep 07
Kitex Garments Limited, Annual General Meeting, Sep 30, 2023 Kitex Garments Limited, Annual General Meeting, Sep 30, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt Audited Financial Statements (including the consolidated Financial Statements) of the Company for the year ended March 31, 2023 together with the Report of the Board of Directors and Independent Auditors report thereon; to declare a final Dividend of `1.50 per fully paid-up Ordinary (equity) Share of face value INR 1/- each for the Financial Year 2022-23; to appoint a director in place of Mr. KLV Narayanan (DIN: 01273573), who retires by rotation as director; to re-appoint the Independent Auditors and to fix their remuneration; to consider approval for material related party transactions with Kitex Apparel Parks Limited; and to consider other matters. Aankondiging • Sep 05
Kitex Garments Limited Announces Appointment of Ms. Dayana Joseph as Company Secretary and Compliance Officer Kitex Garments Limited Appointed Ms. Dayana Joseph as the Company Secretary of the Company (Mem No: A61808) designated as the Key Managerial Personnel pursuant to the provisions of Section 203 of the Companies Act, 2013 and Compliance Officer under Regulation 6(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹1.18 (vs ₹5.50 in 1Q 2023) First quarter 2024 results: EPS: ₹1.18 (down from ₹5.50 in 1Q 2023). Revenue: ₹1.48b (down 41% from 1Q 2023). Net income: ₹78.6m (down 79% from 1Q 2023). Profit margin: 5.3% (down from 15% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Aug 04
Kitex Garments Limited to Report Q1, 2024 Results on Aug 11, 2023 Kitex Garments Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Reported Earnings • Jun 03
Full year 2023 earnings released: EPS: ₹8.56 (vs ₹18.82 in FY 2022) Full year 2023 results: EPS: ₹8.56 (down from ₹18.82 in FY 2022). Revenue: ₹6.01b (down 24% from FY 2022). Net income: ₹575.5m (down 54% from FY 2022). Profit margin: 9.6% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Buying Opportunity • Feb 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be ₹195, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 9.0%. Reported Earnings • Feb 16
Third quarter 2023 earnings released: ₹0.64 loss per share (vs ₹5.22 profit in 3Q 2022) Third quarter 2023 results: ₹0.64 loss per share (down from ₹5.22 profit in 3Q 2022). Revenue: ₹716.5m (down 65% from 3Q 2022). Net loss: ₹40.8m (down 112% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹3.25 (vs ₹3.87 in 2Q 2022) Second quarter 2023 results: EPS: ₹3.25 (down from ₹3.87 in 2Q 2022). Revenue: ₹1.51b (down 16% from 2Q 2022). Net income: ₹216.4m (down 16% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 12
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 19 August 2022. Payment date: 28 September 2022. Payout ratio is a comfortable 8.0% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.7%). In line with average of industry peers (0.6%). Reported Earnings • Aug 07
Full year 2022 earnings released: EPS: ₹18.82 (vs ₹8.16 in FY 2021) Full year 2022 results: EPS: ₹18.82 (up from ₹8.16 in FY 2021). Revenue: ₹8.15b (up 79% from FY 2021). Net income: ₹1.25b (up 131% from FY 2021). Profit margin: 15% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹218, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 12x in the Luxury industry in India. Total returns to shareholders of 126% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 18% share price gain to ₹259, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 13x in the Luxury industry in India. Total returns to shareholders of 147% over the past three years. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Additional Non Executive & Independent Women Director Sumi Francis was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 16% share price gain to ₹293, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 13x in the Luxury industry in India. Total returns to shareholders of 191% over the past three years. Recent Insider Transactions • Feb 13
Chairman & MD recently bought ₹551k worth of stock On the 7th of February, Sabu Jacob bought around 2k shares on-market at roughly ₹275 per share. In the last 3 months, they made an even bigger purchase worth ₹37m. Sabu has been a buyer over the last 12 months, purchasing a net total of ₹128m worth in shares. Recent Insider Transactions • Feb 04
Chairman & MD recently bought ₹14m worth of stock On the 1st of February, Sabu Jacob bought around 54k shares on-market at roughly ₹263 per share. In the last 3 months, they made an even bigger purchase worth ₹37m. Sabu has been a buyer over the last 12 months, purchasing a net total of ₹127m worth in shares.