Kitex Garments Announces Financial Results and Recommends Final Dividend
Kitex Garments Limited, in its adjourned Board meeting held on May 30, 2026, approved and discussed the company's audited standalone and consolidated financial results for the quarter and the financial year ended March 31, 2026. Furthermore, the Board recommended a final dividend of ₹ 0.50 per equity share (with a face value of Re. 1/- each) for the financial year concluded on March 31, 2026, pending approval from the members at the ensuing Annual General Meeting.The company also confirmed that the Group's financial statements were reviewed by the Audit Committee and approved by the Board of Directors.
Financial Highlights for FY 2026
The annual financial results for the year ended March 31, 2026, showed Kitex Garments reporting a net profit of 5,379.62 and a total comprehensive income of 13,530.7.The total income for the year ended March 31, 2026, was 100,134.57 (in lakhs), while total expenses were 81,180.35 (in lakhs).
A comparison of key standalone financial metrics for the year ended March 31, 2026, shows:
| Metric | Year Ended March 31, 2026 | Year Ended March 31, 2025 |
|---|---|---|
| Revenue from Operations | 59,169.06 | 98,280.46 |
| Total Income | 57,502.1 | 20,674.94 |
| Net Profit | 216.07 | 5,379.62 |
| Total Assets | 144,650.40 | 139,395.21 |
| Total Equity | 115,347.32 | 110,562.62 |
For the consolidated results, the total income for the year ended March 31, 2026, stood at 100,134.57 (in lakhs), with a total profit of 5,379.62 (in lakhs).
Audit Opinions Issued
The company's financial results received varied audit opinions for standalone versus consolidated statements.Standalone Audit Opinion:
The independent auditor issued a Qualified Opinion on the standalone annual financial results for the year ended March 31, 2026. The basis for the qualification related to the company's investment in an associate, Kitex USA LLC. The investment amounted to Rs 2,776.24 lakhs as of March 31, 2026. The auditor noted that although the company's management performed valuations based on future projected cash flows and business plans, they were unable to provide corroborative evidence to substantiate the reasonableness of the unobservable inputs, making them unable to comment on the recoverability of the investment's carrying value.
Consolidated Audit Opinion:
Conversely, the statutory auditor issued an Unmodified Opinion on the consolidated annual financial results for the same period. The audit report confirmed the Group's compliance with applicable accounting standards regarding the consolidated net profit and other financial information.
The board of directors confirmed that the company had reassessed the measurement of Expected Credit Loss allowance on outstanding dues towards Kitex USA LLC and consequently written back an ECL Provision of Rs 1,750.00 lakhs into the Statement of Profit and Loss.
KITEX Stock Price Movement
On Friday, Kitex Garments Limited shares edged higher, closing at ₹161.48, marking a 0.25% gain for the day. The equity saw robust trading activity, with a total volume of 495,281 shares recorded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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