Kitex Garments Limited (KITEX.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-577.5%

-₹638.29

vs ₹133.68 price

Levered DCF

-₹554.30

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	474.17×	24.86×	22.76×	15.88×	13.24×	12.1×	1.85×	3.33×
P/B	2.72×	3.34×	0.47×	0.35×	0.68×	0.31×	0.3×	0.42×
P/S	4.2×	3.51×	0.74×	0.57×	0.74×	0.51×	0.28×	0.42×
EV / EBITDA	83.9×	20.48×	9.34×	2.73×	2.64×	1.1×	1.13×	1.45×
Gross margin	20.9%	39.3%	16.5%	54.6%	49.6%	53.4%	52.3%	54.7%
Operating margin	0.2%	18.8%	12.6%	7.3%	20.3%	18.5%	16.1%	20.7%
Net margin	0.9%	14.1%	9.8%	10.7%	16.8%	12.7%	14.9%	12.7%
Current ratio	1.5×	2.53×	3.59×	5.05×	4.18×	7.42×	3.25×	2.98×
Debt / equity	1.16×	1.05×	0.75×	0.03×	0.09×	0×	0.15×	0.16×
Interest coverage	0.03×	13.2×	9.92×	8.76×	80.01×	44.94×	15.89×	30.1×
Dividend yield	0.4%	0.3%	2.4%	3.3%	1.8%	0.0%	12.5%	2.5%
Payout ratio	168.3%	7.2%	17.8%	17.5%	8.0%	0.2%	23.1%	8.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.6%	13.4%	6.2%	6.7%	15.4%	7.8%	16.1%	12.7%
Return on invested capital	-0.1%	5.4%	2.5%	2.6%	12.1%	7.6%	11.0%	10.7%
Return on assets	0.2%	5.4%	2.9%	5.1%	12.6%	6.9%	12.4%	9.4%
Free cash flow yield	-2.8%	-13.4%	-153.5%	-39.7%	-4.4%	48.7%	11.5%	-29.0%
Earnings yield	0.2%	4.0%	13.2%	18.9%	22.7%	24.8%	54.0%	30.0%
Enterprise value	₹38.5B	₹44.9B	₹10.6B	₹2.8B	₹5.2B	₹1.1B	₹1.9B	₹2.3B
Net debt / EBITDA	22.82×	4.76×	5.57×	-0.2×	-0.18×	-1.01×	0.01×	-0.03×
Cash conversion cycle (days)	134	195	266	257	270	355	248	267