Kewal Kiran Clothing’s standalone revenue for the quarter came in at Rs. 167.5 crores, registering 9.9% yoy increase. This was primarily driven by 9.9% yoy increase in revenue from Apparel & Lifestyle Accessories.
EBITDA for the quarter rose by 30.7% yoy to Rs. 48.8 crore with a corresponding margin expansion of 463 bps. EBITDA margin for the quarter stood at 29.2%. This margin expansion was aided by a decline in selling & distribution expenses and manufacturing expenses by 26% yoy and 15% yoy, respectively.
Technical View:
Kewal Kiran Clothing Ltd is currently trading at Rs. 1,925, up by 177.8 points or 10.18% from its previous closing of Rs. 1,747.20 on the BSE.
The scrip opened at Rs. 1,900.15 and has touched a high and low of Rs. 1,938 and Rs. 1,900.15 respectively. So far 909(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.
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