|Market Cap||1,283 Cr||EPS||21.2||High||196|
|Stock P/E||9.1||Net Profit Margin||15.3||Low||192.5|
About the Company
A part of the renowned Anna-Kitex group of companies, founded by the legendary Late Shri M. C. Jacob, Kitex Garments Ltd is the largest employer in private sector in the state of Kerala. Kitex Garments incorporated in 1992, it commenced its production in 1996, after setting up its world-class facility on a 105 acre landscape at Kochi. It was primarily conceived with a domestic focus, intending to make the most of the strong brand power the group enjoyed in the state of Kerala. It also tied up with a leading Italian company for manufacture & sale of undergarments positioned at the premium segment.
However, it experienced that the highly up market innerwear products would not generate volumes enough for the huge facility being set-up. Plus the high credit period & even bad debts led the company to naturally shift its focus to the exports markets.
KGL has had a key focus on the US markets, where the customers generally demand for bulk deliveries, much in contrast to the relatively smaller orders by the Europeon buyers. This time round, KGL experienced a little less than expected growth for a few years as most buyer representatives sourced their entire requirement from the textile hub of Tirupur (5 hrs drive from Kochi, with no flight connections).
However, with the coming up of an international airport at Kochi and having been satisfied with the production at its top-class facilities, Kitex Garments has no looking back. Further with no quotas on textiles, it is now enabled to scale up its operations and is poised to evolve as a notable player in the Indian textile space.
Business Area of Company
The company manufactures all kinds of garments for exports. Infant wear dominates with over 90% share in production.The company is currently the second largest producer of children's apparel in the world, and is now in the process of setting up operations in the United States of America.
Awards & Achievements
2016 - Kitex Garments Ltd received the 'JOCKEY Debra S Waller Award for Great Partnership 2015'
|Parent Organisation||Kitex Garments Ltd.||Managing Director||Sabu M Jacob|