Designs, manufactures and retails branded denim and casual apparel under multiple owned labels — Killer, Lawman, Integriti, K-Lounge, Junior Killer and Kraus — through Exclusive Brand Outlets (EBOs) and non-retail channels. As of March 31, 2026, the network had 666 EBOs (including 457 Killer stores) following a net 57 additions in FY26, with the mix roughly 15% company-operated and 85% franchisee-operated, and a target of 50-70 net store additions per year. Kraus, a 50%-owned women's casualwear subsidiary, grew above 20% in FY26. In FY26 the retail channel grew 24% and non-retail 17%, apparel volumes grew 16% YoY, EBITDA margin stood at 19.6%, gross margin was 42.2%, and same-store sales growth across EBOs was 9.4%. Costs are dominated by materials at 46.8% of revenue, followed by employee costs at 14.1% and other opex at 18.2%, with annual capex guided at ₹30-35 crore. The Vision 2028 target is ₹1,500 crore in revenue and 900 EBOs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Killer, Lawman, Integriti, Kraus, K-Lounge, Junior Killer, Non-retail/wholesale. Multi-brand, asset-light branded apparel retailer with franchisee-heavy distribution
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 608 | 779 | 861 | 1,003 | 1,213 |
| EBITDA (ex other income) | 100 | 152 | 177 | 191 | 238 |
| margin % | 16.5 | 19.5 | 20.6 | 19.0 | 19.6 |
| Owners' profit | 82 | 119 | 155 | 144 | 142 |
| EPS, as reported (₹) | 13.25 | 19.31 | 25.07 | 23.44 | 23.03 |
| ROE % · ROCE % | 17.1 · 22.8 | 21.8 · 29.2 | 22.8 · 29.3 | 15.1 · 19.3 | 13.6 · 17.8 |
| Debt / equity (x) | 0.16 | 0.09 | 0.00 | 0.11 | 0.04 |
| Cash from operations | 57 | 75 | 136 | 14 | 183 |
| Capex | (10) | (24) | (10) | (85) | (21) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 308 | 255 | 288 | 234 | 354 | 301 | 324 | 279 |
| Profit before tax | 86 | 36 | 41 | 41 | 63 | 51 | 47 | 51 |
| Net profit | 68 | 26 | 30 | 32 | 47 | 38 | 35 | 41 |
| EPS (₹) | 10.64 | 3.99 | 4.73 | 5.08 | 7.29 | 5.54 | 5.03 | 6.01 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 39,474 | 52.2 | 26.27 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED | 15,120 | 36.5 | 3.65 | 15.8 | 10.3 | 11.9 | 12.9 | 9.4 |
| GOKALDAS EXPORTS LTD. | 5,773 | 56.0 | 2.67 | 15.3 | 4.6 | 6.0 | 26.9 | 12.1 |
| PEARL GLOBAL IND LIMITED | 5,506 | 17.7 | 3.83 | 11.0 | 18.8 | 16.8 | 27.5 | 11.2 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · Kewal Kiran Clothing announces 35th AGM on Sept 24, 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · Newspaper publication of AGM notice for September 24, 2026 meeting | compliance | minimal | — | — |
| 2 Sept 2026 · KKCL files BRSR for FY2025-26; zero injuries, all complaints resolved | general | medium | — | — |
| 2 Sept 2026 · 35th AGM on Sept 24, 2026; financials adoption and director re-appointment on agenda | board shareholder meetings | low | — | — |
| 2 Sept 2026 · KKCL FY26 Annual Report: Revenue up 20.9%, EBITDA margins above guided range | results | high | — | — |
| 1 Sept 2026 · Brand Head Ajay Thotlani designated as Senior Management Personnel | management changes | medium | — | — |
| 1 Sept 2026 · Retail Head Mr. Dhyanesh Kumar retires from Kewal Kiran Clothing | management changes | medium | — | — |
| 10 Aug 2026 · KKCL Q1 FY27: 19% revenue growth, EBITDA margins beat guidance | investor communications | medium | — | — |
| 8 Aug 2026 · Corrigendum to Q1 FY27 results published in newspapers | compliance | minimal | — | — |
| 7 Aug 2026 · KKCL files press release with newspaper ad extract | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| LUX INDUSTRIES LIMITED |
| 3,443 |
| 32.3 |
| 1.89 |
| 19.2 |
| 5.8 |
| 7.3 |
| 8.4 |
| 8.2 |
| KEWAL KIRAN CLOTHING LTD ◆ | 3,051 | 20.6 | 2.73 | 11.2 | 13.6 | 16.6 | 32.0 | 24.0 |
| S. P. APPARELS LIMITED | 2,582 | 24.5 | 2.75 | 12.4 | 10.7 | 14.2 | 19.3 | 15.9 |
| KITEX GARMENTS LTD | 2,473 | — | 2.00 | 36.2 | (1.1) | 0.3 | 7.9 | 11.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 20.6 | 17.7 | 23 of 39 | 42% |
| P/B | 2.7 | 1.6 | 25 of 35 | 29% |
| ROCE | 16.6 | 8.4 | 9 of 44 | 81% |
| ROE | 13.6 | 5.8 | 7 of 37 | 83% |
| Debt / Equity | 0.0 | 0.3 | 10 of 37 | 75% |
| EBITDA margin | 24.0 | 10.4 | 4 of 35 | 91% |
| Revenue growth | 19.4 | 7.9 | 14 of 37 | 64% |
| Profit growth | 28.2 | 6.8 | 13 of 37 | 67% |
| Market cap | 3051 | 158 | 6 of 44 | 88% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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