BSE: 544221
Kizi Apparels Limited
An SME-listed garments and apparels company headquartered in Jaipur, with a total asset base of ₹28.0661 crore as of FY26. In FY26 it booked ₹42.6355 crore in revenue from operations, up 61.3% year-on-year, while net profit stood at ₹100.60 lakhs against ₹85.86 lakhs the year before. The cost structure is dominated by raw materials at 90.9% of revenue (₹38.7767 crore), with employee cost at 3.4% (₹1.431 crore) and other operating expenses at 8.8% (₹3.756 crore), giving a typical low-value-add garment profile. Capital spending was light at ₹0.3352 crore (0.8% of revenue). The available filings do not specify product categories, customer segments, production capacity, plant count, or workforce size. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Garments & Apparels. Asset-light, low-value-add garments manufacturing with very high material intensity
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY25 | FY26 |
|---|---|---|
| Revenue | 26 | 43 |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | — | — |
| EPS, as reported (₹) | 1.10 | 1.29 |
| ROE % · ROCE % | — · 12.6 | — · 15.6 |
| Debt / equity (x) | — | — |
| Cash from operations | (8) | (2) |
| Capex | (0) | (0) |
Exhibit 2: Quarterly performance, last 4 quarters
| ₹ crore | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|
| Revenue | 12 | 14 | 14 | 29 |
| Profit before tax | 1 | 1 | 1 | 1 |
| Net profit | — | — | — | — |
| EPS (₹) | 0.54 | 0.57 | 0.72 | 0.56 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 38,604 | 51.1 | 25.69 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED | 13,061 | 31.5 | 3.15 | 13.8 | 10.3 | 11.9 | 12.9 | 9.4 |
| PEARL GLOBAL IND LIMITED | 5,526 | 17.8 | 3.84 | 11.0 | 18.8 | 16.8 | 27.5 | 11.2 |
| GOKALDAS EXPORTS LTD. | 4,638 | 45.0 | 2.15 | 12.6 | 4.6 | 6.0 | 26.9 | 12.1 |
| LUX INDUSTRIES LIMITED | 3,465 | 32.5 | 1.90 | 19.3 | 5.8 | 7.3 | 8.4 | 8.2 |
| SBC EXPORTS LIMITED | 3,161 | 78.1 | 39.42 | 71.5 | 31.5 | 28.3 | — | 13.9 |
| KEWAL KIRAN CLOTHING LTD | 2,573 | 17.4 | 2.30 | 9.3 | 13.6 | 16.6 | 32.0 | 24.0 |
| KITEX GARMENTS LTD | 2,261 | — | 1.83 | 34.1 | (1.1) | 0.3 | 7.9 | 11.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 6.3 | 16.7 | 7 of 37 | 83% |
| ROCE | 10.4 | 8.4 | 19 of 44 | 58% |
| Market cap | 12 | 150 | 41 of 44 | 7% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Board meeting postponed for results and fund raising review | fund raising | medium | — | — |
| 19 Oct 2026 · Board meet on 24 Oct to consider fund raise via equity or warrants | fund raising | medium | — | — |
| 16 Oct 2026 · Non-Executive Director Mr. Ajay Mishra resigns, effective 13 Oct 2026 | management changes | medium | — | — |
| 16 Oct 2026 · Kizi Apparels: New Non-Executive Director appointed, one resigns | management changes | medium | — | — |
| 16 Oct 2026 · Promoter family member joins board as Non-Executive Director; director resigns | management changes | medium | — | — |
| 13 Oct 2026 · Non-Executive Director resigns from Kizi Apparels | management changes | medium | — | — |
| 13 Oct 2026 · Non-Executive Director Ajay Mishra resigns | management changes | medium | — | — |
| 13 Oct 2026 · Compliance certificate under SEBI Regulation 74(5) for quarter ended September 2026 | compliance | minimal | — | — |
| 30 Sept 2026 · Trading Window Closure from Oct 1, 2026 Ahead of Q2 Results | compliance | minimal | — | — |
| 18 Sept 2026 · Kizi Apparels 4th AGM: All three resolutions passed unanimously | board shareholder meetings | low | — | — |
How to read this document
| 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 | 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 |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.