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Kitex Garments Q2 FY27 results: net profit ₹13.71 crore vs ₹6.22 crore loss, revenue up 66.3%
Kitex Garments Limited reported consolidated revenue of ₹203.04 crore in Q2 FY27, up 66.3% from ₹122.10 crore in Q2 FY26. The company returned to quarterly profit, with EBITDA of ₹44.99 crore, profit before tax of ₹22.15 crore and net profit of ₹13.71 crore, compared with a net loss of ₹6.22 crore a year earlier.
Key points
- Consolidated Q2 FY27 revenue was ₹203.04 crore, up 66.3% from ₹122.10 crore in Q2 FY26 and 28.2% from ₹158.43 crore in Q1 FY27.
- EBITDA was ₹44.99 crore in Q2 FY27, compared with EBITDA of negative ₹15.96 crore in Q2 FY26; the EBITDA margin improved to 22.2% from negative 13.1%.
- Profit before tax was ₹22.15 crore and net profit was ₹13.71 crore in Q2 FY27, against a loss before tax of ₹2.30 crore and a net loss of ₹6.22 crore in Q2 FY26.
- Basic EPS was ₹0.84 in Q2 FY27, compared with negative ₹0.08 in Q2 FY26 and negative ₹0.45 in Q1 FY27.
- On a standalone basis, Q2 FY27 revenue was ₹179.81 crore and profit after tax was ₹25.03 crore, with profit before tax of ₹10.87 crore.
How did Kitex Garments perform in Q2 FY27?
Kitex Garments reported consolidated revenue of ₹203.04 crore for the quarter ended 30 September 2026, up 66.3% from ₹122.10 crore in Q2 FY26 and 28.2% from ₹158.43 crore in Q1 FY27. Total income was ₹212.82 crore, while EBITDA rose to ₹44.99 crore from negative ₹15.96 crore a year earlier and ₹10.19 crore in the previous quarter.
The EBITDA margin was 22.2% in Q2 FY27, compared with negative 13.1% in Q2 FY26 and 6.4% in Q1 FY27. Profit before tax was ₹22.15 crore, against a loss of ₹2.30 crore in Q2 FY26 and a loss of ₹13.35 crore in Q1 FY27.
Net profit was ₹13.71 crore in Q2 FY27, compared with a net loss of ₹6.22 crore in Q2 FY26 and a net loss of ₹17.12 crore in Q1 FY27. Basic EPS was ₹0.84, compared with negative ₹0.08 and negative ₹0.45, respectively. On a standalone basis, revenue was ₹179.81 crore and profit after tax was ₹25.03 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 203.04 | 158.43 | 122.10 | +66.3% | +28.2% |
| Other income | 9.78 | 7.64 | 12.39 | −21.1% | +28.0% |
| Total expenses | 190.67 | 179.42 | 154.29 | +23.6% | +6.3% |
| EBITDA | 44.99 | 10.19 | −15.96 | turned to profit | +341.5% |
| EBITDA margin | 22.2% | 6.4% | -13.1% | +35.3 pp | +15.8 pp |
| Profit before tax | 22.15 | −13.35 | −2.30 | turned to profit | turned to profit |
| Tax | 8.45 | 3.77 | 3.92 | +115.6% | +124.1% |
| Net profit | 13.71 | −17.12 | −6.22 | turned to profit | turned to profit |
| EPS (₹) | 0.84 | −0.45 | −0.08 | turned to profit | turned to profit |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Kitex Garments' costs and profit?
Total expenses increased 23.6% year on year to ₹190.67 crore. Cost of materials consumed was ₹110.53 crore, up 63.1% from ₹67.77 crore, while employee cost was ₹45.04 crore, up 7.7% from ₹41.81 crore.
Finance costs rose 71.1% to ₹14.10 crore from ₹8.24 crore, depreciation increased 132.1% to ₹18.52 crore from ₹7.98 crore, and other expenses rose 24.1% to ₹49.92 crore from ₹40.21 crore. Other income fell 21.1% to ₹9.78 crore from ₹12.39 crore.
Tax expense increased 115.6% to ₹8.45 crore from ₹3.92 crore. Q2 FY26 included an exceptional gain of ₹17.50 crore, while Q2 FY27 had no exceptional item. The filing excerpt does not state reasons for the changes in the cost lines or other income.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 110.53 | 67.77 | +42.76 | +63.1% |
| Employee cost | 45.04 | 41.81 | +3.23 | +7.7% |
| Finance costs | 14.10 | 8.24 | +5.86 | +71.1% |
| Depreciation | 18.52 | 7.98 | +10.54 | +132.1% |
| Other expenses | 49.92 | 40.21 | +9.71 | +24.1% |
| Total expenses | 190.67 | 154.29 | +36.38 | +23.6% |
| Other income | 9.78 | 12.39 | −2.61 | −21.1% |
| Tax | 8.45 | 3.92 | +4.53 | +115.6% |
| Exceptional items | none | +17.50 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹361.46 crore, up 13.4% from ₹318.79 crore in H1 FY26, while total income rose 14.2% to ₹378.89 crore from ₹331.91 crore.
Profit before tax fell 66.0% to ₹8.8 crore from ₹25.9 crore. The company reported a net loss of ₹3.41 crore for H1 FY27, compared with a net profit of ₹13.08 crore in H1 FY26, while EPS for H1 FY26 was ₹0.96.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 361.46 | 318.79 | +13.4% |
| Profit before tax | 8.80 | 25.90 | −66.0% |
| Net profit | −3.41 | 13.08 | turned to loss |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹3188.03 crore, compared with ₹3042.07 crore at 31 March 2026. Total equity was ₹1235.46 crore against ₹1238.86 crore, while borrowings increased to ₹1303.0 crore from ₹1199.38 crore.
Cash declined to ₹71.22 crore from ₹114.39 crore. Inventories increased to ₹235.81 crore from ₹150.92 crore, trade receivables rose to ₹171.28 crore from ₹124.63 crore, and trade payables increased to ₹92.33 crore from ₹55.39 crore.
For H1 FY27, operating cash flow was negative ₹28.76 crore, compared with ₹215.33 crore in H1 FY26. Investing cash flow was negative ₹71.71 crore against negative ₹260.73 crore, financing cash flow was ₹56.53 crore against ₹93.41 crore, and capital expenditure was ₹59.9 crore against ₹248.31 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,188 | 3,042 |
| Total equity | 1,235 | 1,239 |
| Borrowings | 1,303 | 1,199 |
| Cash and equivalents | 71.22 | 114.39 |
| Inventories | 235.81 | 150.92 |
| Trade receivables | 171.28 | 124.63 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −28.76 | 215.33 |
| Cash from investing | −71.71 | −260.73 |
| Cash from financing | 56.53 | 93.41 |
| Capital expenditure | 59.90 | 248.31 |
Source: Company's results filing (XBRL).
How has Kitex Garments done over the last 8 quarters?
Revenue increased to ₹203.04 crore in Q2 FY27 from ₹158.43 crore in Q1 FY27, after the lowest quarterly revenue of ₹122.10 crore in Q2 FY26. The recent quarterly revenue sequence was ₹181.99 crore in Q3 FY26, ₹166.17 crore in Q4 FY26, ₹158.43 crore in Q1 FY27 and ₹203.04 crore in Q2 FY27.
Net profit improved to ₹13.71 crore in Q2 FY27 from a loss of ₹17.12 crore in Q1 FY27, following losses in Q2 FY26, Q3 FY26 and Q4 FY26. The EBITDA margin reached 22.2% in Q2 FY27, compared with its lowest level of negative 13.1% in Q2 FY26.
What did the auditors point out?
The limited review report for the standalone unaudited results stated that the review was substantially less in scope than an audit and that the auditors did not express an audit opinion. It also set out a “Basis for Qualified Conclusion” concerning the investment in associate Kitex USA LLC.
The auditors said the company’s investment in Kitex USA LLC amounted to Rs 2,776.24 lakhs in losses and that the associate’s net worth had fully eroded as at the reporting date. Management considered the carrying value recoverable based on valuations and future projected cash flows, but had not been able to provide corroborative evidence for the reasonableness of the unobservable inputs. Consequently, the auditors said they were unable to comment on the recoverability of the carrying value at 30 September 2026.
How did Kitex Garments shares react?
The filing appeared after market hours. From the price when the filing appeared, the stock rose 4.0% after 5 minutes, 5.6% after 15 minutes and 4.7% after 30 minutes. From the pre-results close, it rose 13.3% on the reaction day and was up 15.1% by the next day’s close.
The Garments & Apparels industry’s median move was 0.5% on the reaction day and 1.6% by the next day’s close. Kitex Garments therefore exceeded the industry median by 12.8 percentage points on the reaction day and 13.5 percentage points by the next day’s close.
Earlier reaction-day moves were negative 4.0% on 14 August 2026, positive 0.2% on 30 May 2026, positive 0.6% on 13 February 2026, negative 3.1% on 12 November 2025 and negative 4.0% on 4 August 2025.
| After the filing | Stock | Garments & Apparels median |
|---|---|---|
| 5 minutes | +4.0% | |
| 15 minutes | +5.6% | |
| 30 minutes | +4.7% | |
| Reaction day | +13.3% | +0.5% |
| Next day | +15.1% | +1.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 14 August 2026 | −4.0% |
| 30 May 2026 | +0.2% |
| 13 February 2026 | +0.6% |
| 12 November 2025 | −3.1% |
| 4 August 2025 | −4.0% |
| 29 May 2025 | +1.2% |
| 14 February 2025 | −5.1% |
| 30 October 2024 | +4.7% |
Source: MarketPing price-reaction measurement.
How did other Garments & Apparels companies do?
Ten other Garments & Apparels companies that had filed for the quarter were compared with Kitex Garments as of 4 November 2026. Their median revenue growth was 14.3%, compared with Kitex Garments’ 66.3% consolidated revenue growth.
Seven peers grew slower than Kitex Garments and three grew faster. Among the eight peers for which profit was compared, six reported higher profit.
| Kitex Garments revenue growth (YoY) | +66.3% |
|---|---|
| Median of 10 other Garments & Apparels companies | +14.3% |
| Companies with slower revenue growth than Kitex Garments | 7 of 10 |
| Companies with faster revenue growth than Kitex Garments | 3 of 10 |
| Companies whose net profit rose | 6 of 8 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Kitex Garments' revenue in Q2 FY27?
Revenue from operations was ₹203.04 crore, up 66.3% from ₹122.10 crore in Q2 FY26 (consolidated).
Did Kitex Garments make a profit in Q2 FY27?
Yes. Net profit was ₹13.71 crore, against a net loss of ₹6.22 crore in Q2 FY26.
What was Kitex Garments' EPS in Q2 FY27?
Basic earnings per share were ₹0.84, against a loss of ₹0.08 in Q2 FY26.
How did Kitex Garments shares react to the Q2 FY27 results?
On the reaction day the stock moved +13.3% from the previous close; the median Garments & Apparels stock moved +0.5%.
When did Kitex Garments announce its Q2 FY27 results?
On 2 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Board Meeting To Be Held On November 02, 2026 (BSE, 27 October 2026) · PDF
- Outcome of Board Meeting (NSE, 2 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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