Kitex Garments’ standalone revenue for Q1 registered a 9.1 per cent year on year increase. Ebitda margin stood at 27.7 per cent. Ebitda for the quarter rose by 6.3 per cent year on year with a corresponding margin contraction of 72 basis points. This margin contraction was led by an increase in other expenses and cost of materials by 36 per cent year on year and 26 per cent year on year. PAT for the quarter fell by 15.2 per cent year on year.
Cochin-based Kitex exports cotton garments, especially infant wear, to the US and Europe. The company has two segments: garments and fabrics. In fiscal 2016-’17 the garment segment contributed 84 per cent to sales and fabrics 16 per cent.
Kitex, is in the process of upgrading its facilities to expand capacity. It is a vertical set-up with knitting and processing of fabrics while finished garments are done in-house. The facility covers an area of 1,80,768 sq. ft.
The factory is equipped with latest sewing machines that ensures stain-free, quality sewing. The state-of-the-art spectrophotometer ensures electronic color reading and transmission. The plant produces knitted fabrics of exceptional quality.
