Kewal Kiran Clothing Limited has informed the Exchange about Transcript
KKCL · price
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Kewal Kiran Clothing (KKCL) shared its FY25 results and Vision FY28 roadmap on an earnings call. FY25 consolidated operating revenue crossed INR 1,003 crores, up 16.5% YoY, with EBITDA margin of 19%. Q4 FY25 saw 31% YoY growth with 18.1% EBITDA margin. Management set a target of INR 1,500 crores revenue and 17-18% EBITDA margin by FY28, driven by EBO expansion from 609 to 900+ stores, scaling Kraus (women's wear) to ~50 stores, growing womenswear/kidswear/athleisure categories, and AI-led personalisation. Standalone volume growth was 15% in FY25 and same-store retail growth was ~13% in Q4. Working capital guided at 125-135 days (currently elevated due to Kraus integration, expected to normalise in 1-2 quarters). Annual capex of INR 30-35 crores will be funded through internal accruals for brownfield expansion in Daman and Vapi. The company also acquired a new land parcel to shift its head office and monetise the existing ~5.5 lakh sq ft property, though no timelines or value were disclosed.
The stock narrative is squarely in growth mode with a clear 3-year roadmap, but investors should note that margins are guided to compress from 19% to 17-18% as the company invests in store expansion, marketing (ad spend rising from 5% to 6.5-7%), and channel expansion. The potential monetisation of the existing head office property is a future optionality but timeline and value remain undisclosed.