Kitex Garments Limited has informed the Exchange that Board of Directors at its adjourned meeting held on May 30, 2026, recommended Final Dividend of Rs. 0.50 per equity share.
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Kitex Garments Limited's Board recommended a final dividend of Rs. 0.50 per equity share (50% on face value of Re. 1 each) for FY2026, subject to shareholder approval at the AGM. For the standalone year-end results, total income was Rs. 63,660.93 lakhs with net profit of Rs. 5,689.08 lakhs and EPS of Rs. 2.85. Consolidated total income was Rs. 71,928.15 lakhs with net profit of Rs. 13,574.60 lakhs and EPS of Rs. 6.95. The standalone audit received a qualified opinion due to uncertainty over the recoverability of Rs. 2,776.24 lakhs investment in associate Kitex USA LLC, whose net worth has been fully eroded. The company also wrote back an ECL provision of Rs. 1,750 lakhs and acquired additional stake in subsidiary Kitex Apparel Parks Limited for Rs. 11,986.26 lakhs.
The dividend recommendation signals a positive return for shareholders, though the payout ratio appears modest at around 17-18% on standalone earnings. The qualified audit opinion on standalone results regarding the Kitex USA LLC investment may raise concerns for investors focused on financial transparency.