Outcome of Board Meeting - Dividend
KITEX · price
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Kitex Garments Board approved FY2026 results and recommended a final dividend of ₹0.50 per equity share (50% on face value of ₹1 each). Standalone net profit for FY2026 was ₹5,689 lakhs on revenue of ₹63,661 lakhs, compared to ₹15,205 lakhs in FY2025. Consolidated net profit attributable to equity holders was ₹13,873 lakhs. The auditor issued a qualified opinion on standalone results due to uncertainty about recoverability of ₹2,776 lakh investment in associate Kitex USA LLC (net worth fully eroded). The dividend is subject to shareholder approval at the ensuing AGM.
The dividend represents a 50% payout ratio on standalone EPS of ₹2.85. Without current market price data, dividend yield cannot be calculated to assess impact. The qualified audit opinion on the US associate investment may create some investor concern.