National

Kerala's Kitex total revenue crosses Rs 1000 cr in FY19

Our Bureau Kochi | Updated on May 21, 2019

Kitex, the global leader in the manufacturing and export of Infant Garments, has registered a total revenue of Rs1005 crore in FY19, which comprise of Rs 630 crore by the listed entity Kitex Garments Ltd and Rs 375 crore by Kitex Childrens Wear Ltd.

The standalone revenue of Kitex Garments has reported a growth of 12.38 per cent in the fiscal. For the quarter ended March 31, Kitex Garments posted a profit after tax of Rs 24.37 crore against Rs 10.32 crore. PAT for the whole year was Rs 81.45 crore, a growth of 16.32 per cent. The EPS in Q4 stood at Rs 3.64 against 1.64.

"We are happy to touch the number of Rs 1000 crore in total revenue. By 2025, our target is to attain a total revenue of Rs 2165 crore from Kitex Garments Limited and Rs 1000 crore from Kitex Childrens Wear Limited”, Sabu M.Jacob, MD & CEO.

Established in 1992, Kitex is the world's third largest manufacturer of children's apparel. It manufactures clothing for infants up to 24 months, primarily targeting the US market. Six lakh pieces of infant apparel are being manufactured at Kitex factory a day. Ninety per cent of the export is to US and the rest to European countries.

Kitex has been a leading supplier of infant wear to the best-known global brands and retail giants such as Walmart, Target, Amazon, Carter's, Gerber, Oshkosh, Buy Buy Baby, Sam's club etc. The company aims to increase the manufacturing capacity to 22 lakh pieces per day by 2025. Besides, a new fleet of baby products; socks, diaper, baby wet wipers are being planned to be manufactured from the Kitex factory at Kizhakkambalam in Kochi, eyeing the global market.

Published on May 21, 2019

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