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KEWAL KIRAN CLOTHING 2017-18 Annual Report Analysis
Sat, 31 Mar

KEWAL KIRAN CLOTHING has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

KEWAL KIRAN CLOTHING Income Statement Analysis

  • Operating income during the year rose 0.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 0.5% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 21.4% in FY18 as against 21.7% in FY17.
  • Depreciation charges increased by 21.4% and finance costs increased by 52.3% YoY, respectively.
  • Other income grew by 19.8% YoY.
  • Net profit for the year declined by 1.8% YoY.
  • Net profit margins during the year declined from 16.4% in FY17 to 16.0% in FY18.

KEWAL KIRAN CLOTHING Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 4,559 4,588 0.6%
Other income Rs m 176 211 19.8%
Total Revenues Rs m 4,735 4,799 1.4%
Gross profit Rs m 987 982 -0.5%
Depreciation Rs m 48 58 21.4%
Interest Rs m 33 50 52.3%
Profit before tax Rs m 1,083 1,086 0.2%
Tax Rs m 337 353 4.8%
Profit after tax Rs m 746 733 -1.8%
Gross profit margin % 21.7 21.4
Effective tax rate % 31.1 32.5
Net profit margin % 16.4 16.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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KEWAL KIRAN CLOTHING Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 2 billion as compared to Rs 1 billion in FY17, thereby witnessing an increase of 9.8%.
  • Current assets rose 10% and stood at Rs 3 billion, while fixed assets rose 6% and stood at Rs 2 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 6 billion as against Rs 5 billion during FY17, thereby witnessing a growth of 9%.

KEWAL KIRAN CLOTHING Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 3,741 3,992 6.7
 
Current Liabilities Rs m 1,374 1,509 9.8
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 5,127 5,564 8.5
 
Current assets Rs m 3,048 3,361 10.3
Fixed Assets Rs m 2,080 2,203 5.9
Total Assets Rs m 5,127 5,564 8.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



KEWAL KIRAN CLOTHING Cash Flow Statement Analysis

  • KEWAL KIRAN CLOTHING's cash flow from operating activities (CFO) during FY18 stood at Rs 556 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -140 million, an improvement of 51.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -456 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -40 million from the Rs 434 million net cash flows seen during FY17.

KEWAL KIRAN CLOTHING Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 801 556 -30.6%
Cash Flow from Investing Activities Rs m -93 -140 -
Cash Flow from Financing Activities Rs m -274 -456 -
Net Cash Flow Rs m 434 -40 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for KEWAL KIRAN CLOTHING

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 59.4, an decline from the EPS of Rs 60.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,521.6, stands at 127.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 23.5 times, while the price to sales ratio stands at 4.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 28.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 369.8 372.1
TTM Earnings per share Rs 60.5 59.4
Diluted earnings per share Rs 12.1 11.9
Price to Cash Flow x 134.7 28.4
TTM P/E ratio x 147.1 127.9
Price / Book Value ratio x 6.0 5.6
Market Cap Rs m 22,451 22,444
Dividends per share (Unadj.) Rs 19.0 33.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for KEWAL KIRAN CLOTHING

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.2x during FY18, from 2.2x during FY17. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 22.8x during FY18, from 34.1x during FY17. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 18.4% during FY18, from 19.9% during FY18. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 28.4% during FY18, from 29.8% during FY17. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 14.1% during FY18, from 15.2% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 2.2 2.2
Debtors’ Days Days 850 960
Interest coverage x 34.1 22.8
Debt to equity ratio x 0.0 0.0
Return on assets % 15.2 14.1
Return on equity % 19.9 18.4
Return on capital employed % 29.8 28.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how KEWAL KIRAN CLOTHING has performed over the last 5 years, please visit here.

KEWAL KIRAN CLOTHING Share Price Performance

Over the last one year, KEWAL KIRAN CLOTHING share price has moved down from Rs 1,735.0 to Rs 1,521.6, registering a loss of Rs 213.5 or around 12.3%.

Overall, the S&P BSE SENSEX is up 12.1% over the year.

(To know more, check out historical annual results for KEWAL KIRAN CLOTHING and quarterly results for KEWAL KIRAN CLOTHING)

Annual Report FAQs

What is the current share price of KEWAL KIRAN CLOTHING?

KEWAL KIRAN CLOTHING currently trades at Rs 697.8 per share. You can check out the latest share price performance of KEWAL KIRAN CLOTHING here...

What was the revenue of KEWAL KIRAN CLOTHING in FY18? How does it compare to earlier years?

The revenues of KEWAL KIRAN CLOTHING stood at Rs 4,799 m in FY18, which was up 1.4% compared to Rs 4,735 m reported in FY17.

KEWAL KIRAN CLOTHING's revenue has grown from Rs 4,728 m in FY16 to Rs 4,799 m in FY18.

Over the past 3 years, the revenue of KEWAL KIRAN CLOTHING has grown at a CAGR of 0.7%.

What was the net profit of KEWAL KIRAN CLOTHING in FY18? How does it compare to earlier years?

The net profit of KEWAL KIRAN CLOTHING stood at Rs 733 m in FY18, which was down -1.8% compared to Rs 746 m reported in FY17.

This compares to a net profit of Rs 679 m in FY16.

Over the past 3 years, KEWAL KIRAN CLOTHING net profit has grown at a CAGR of 3.8%.

What does the cash flow statement of KEWAL KIRAN CLOTHING reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of KEWAL KIRAN CLOTHING reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs 556 m as compared to Rs 801 m in FY17.
  • Cash flow from investments decreased in FY18 and stood at Rs -140 m as compared to Rs -93 m in FY17.
  • Cash flow from financial activity decreased in FY18 and stood at Rs -456 m as compared to Rs -274 m in FY17.

Here's the cash flow statement of KEWAL KIRAN CLOTHING for the past 3 years.

(Rs m)FY16FY17FY18
From Operations469801556
From Investments99-93-140
From Financial Activity-788-274-456
Net Cashflow-221434-40

What does the Key Ratio analysis of KEWAL KIRAN CLOTHING reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of KEWAL KIRAN CLOTHING reveals:

  • Operating profit margins witnessed a fall and stood at 21.4% in FY18 as against 21.7% in FY17.
  • Net profit margins declined from 16.4% in FY17 to 16.0% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.0 as compared to 0.0 in FY17.

Here's the ratio/financial analysis of KEWAL KIRAN CLOTHING for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)22.321.721.4
Net Profit Margin (%)14.616.416.0
Debt to Equity Ratio (x)0.00.00.0

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