Kewal Kiran Q4 Review - Balancing Growth, Cash Generation: ICICI Securities
Customer look at jeans displayed in the womenswear department of a Westside store. (Photographer: Kanishka Sonthalia/Bloomberg)

Kewal Kiran Q4 Review - Balancing Growth, Cash Generation: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Kewal Kiran Clothing Ltd.’s Q4 FY21 revenue declined 13% YoY to Rs 1.1 billion on account of resurgence in Covid-19 cases from mid-March 2021 and likely lower multi brand outlet channel sales YoY.

Ebitda margin stood at 9.2% (down 780 basis points YoY) primarily due to lower gross margins (down 714 basis points YoY) likely due to change in channel mix (higher contribution from online and large format store channels).

The company’s net cash increased from Rs 1.9 billion to Rs 2.5 billion (23% of market cap) YoY as of March 2021 aided by working capital release of Rs 739 million during FY21.

Click on the attachment to read the full report:

ICICI Securities Kewal Kiran Clothing Q4FY21 Result Update.pdf

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