India’s number one and globally third largest manufacturer of kidswear, Kitex Ltd., has achieved a total revenue of Rs. 1005 crore (US $ 143 million) in FY19. Enthusiastic with the achievement, the group is now targeting at attaining a revenue ofRs. 3,000 crore (US $ 430 million) by 2025. There are hardly 15 such apparel manufacturers in India having a turnover of more than Rs. 1000 crore.
The total turnover of Kitex Ltd. includes Rs. 630 crore (US $ 90 million) by the Kitex Garments Ltd. (growth of 12.38 per cent in the fiscal) and Rs. 375 crore (US $ 53 million) by Kitex Childrens Wear Ltd.
Besides a good turnover, the group is also making a good profit as for the quarter ended March 31, Kitex Garments has a profit after tax (PAT) of Rs. 24.37 crore (US $ 3.4 million) against Rs. 10.32 crore (US $ 1.42 million). PAT for the whole year was Rs. 81.45 crore (US $ 11.63 million), which is a growth of 16.32 per cent.
The group is also planning to increase the manufacturing capacity to 2.2 million pieces per day by 2025, which is currently 0.6 million pieces per day. Manufacturing of some new products, allied with kidswear, is also at the planning stage. Mainly into export and that too US market, Kitex is working with many global brands and retailers.
“By 2025, our target is to attain a total revenue of Rs. 2,165 crore from Kitex Garments Limited and Rs. 1,000 crore from Kitex Childrens Wear Limited.” Sabu M.Jacob, MD & CEO, Kitex Group