Kewal Kiran Clothing Limited has released its standalone and consolidated audited financial results for the quarter and year ended March 31, 2026, under Regulation 33(3)(d) read with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and approved by the Board of Directors at a meeting held on May 9, 2026, which commenced at 4:30 PM and concluded at 6:00 PM. In continuation to its letter dated May 4, 2026, and pursuant to applicable SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the audio recording of the conference call held on May 11, 2026, covering the audited financial results for Q4 & 12M FY26, is now available on the company's website at https://www.kewalkiran.com/investors.php#Press%20Release%20%20Conference%20Call%20Recording%20&%20Transcript .
Consolidated Financial Performance
On a consolidated basis, Kewal Kiran Clothing delivered strong growth in both quarterly and full-year metrics. The following table presents the key consolidated financial highlights:
| Particulars (₹ Cr): |
Q4 FY26 |
Q4 FY25 |
YoY |
Q3 FY26 |
FY26 |
FY25 |
YoY |
| Revenue from Operations: |
323.8 |
288.1 |
12.4% |
301.1 |
1,212.8 |
1,002.8 |
20.9% |
| Gross Profit: |
132.8 |
113.0 |
17.5% |
131.1 |
511.6 |
416.5 |
22.8% |
| GP Margin (%): |
41.0% |
39.2% |
— |
43.5% |
42.2% |
41.5% |
— |
| EBITDA: |
61.7 |
52.1 |
18.4% |
63.0 |
237.9 |
190.6 |
24.8% |
| EBITDA Margin (%): |
19.1% |
18.1% |
— |
20.9% |
19.6% |
19.0% |
— |
| PAT: |
34.5 |
30.2 |
14.2% |
37.9 |
152.3 |
149.2 |
2.1% |
| PAT Margin (%): |
10.7% |
10.4% |
— |
12.5% |
12.3% |
14.2% |
— |
For Q4 FY26, consolidated revenue from operations grew 12.4% to ₹323.8 cr from ₹288.1 cr in Q4 FY25. Gross profit rose 17.5% to ₹132.8 cr, with gross margin at 41.0%. EBITDA grew 18.4% to ₹61.7 cr, with EBITDA margin at 19.1%, while PAT grew 14.2% to ₹34.5 cr, with PAT margin at 10.7%. For the full year FY26, consolidated revenue from operations grew 20.9% to ₹1,212.8 cr from ₹1,002.8 cr in FY25. Gross profit grew 22.8% to ₹511.6 cr, with gross margin at 42.2%. EBITDA grew 24.8% to ₹237.9 cr, with EBITDA margin at 19.6%, surpassing guidance. PAT for FY26 grew 2.1% to ₹152.3 cr from ₹149.2 cr in FY25; the company noted that adjusted for one-time gains in FY25 relating to sale of shares via IPO-OFS and fair value gain on shares of Baazar Style Retail Limited, underlying PAT growth on a year-on-year basis was stronger.
The detailed consolidated financial metrics in ₹ Lakhs are presented below:
| Metric: |
Q4 FY26 |
Q3 FY26 |
Q4 FY25 |
FY26 |
FY25 |
| Revenue from Operations (₹ Lakhs): |
32,380 |
30,112 |
28,813 |
1,21,277 |
1,00,277 |
| Other Income (₹ Lakhs): |
(3) |
319 |
275 |
2,376 |
4,933 |
| Total Income (₹ Lakhs): |
32,377 |
30,431 |
29,088 |
1,23,653 |
1,05,210 |
| Total Expenses (₹ Lakhs): |
27,669 |
25,325 |
24,990 |
1,03,370 |
85,445 |
| Profit Before Tax (₹ Lakhs): |
4,707 |
5,106 |
4,097 |
20,273 |
19,762 |
| Net Profit (₹ Lakhs): |
3,454 |
3,791 |
3,024 |
15,229 |
14,919 |
| Basic EPS (₹): |
5.03 |
5.54 |
4.73 |
23.03 |
23.44 |
| Diluted EPS (₹): |
5.03 |
5.54 |
4.73 |
23.03 |
23.44 |
Consolidated total comprehensive income for the year was ₹15,347 lakhs. Of the net profit, ₹14,190 lakhs was attributable to owners of the company and ₹1,039 lakhs to non-controlling interests. Consolidated reserves excluding revaluation reserves stood at ₹87,674 lakhs, and total equity (including non-controlling interest of ₹18,111 lakhs) was ₹1,11,948 lakhs as at March 31, 2026. Other income for the consolidated year includes a realised gain of ₹883 lakhs and an unrealised gain of ₹686 lakhs, compared to a realised gain of ₹3,895 lakhs and an unrealised gain of ₹416 lakhs in the prior year. It is noted that Kraus Casuals Pvt Ltd became a subsidiary with effect from July 18, 2024; consequently, corresponding prior year figures are not fully comparable.
Standalone Financial Performance
On a standalone basis, Kewal Kiran Clothing reported revenue from operations of ₹95,026 lakhs for the year ended March 31, 2026, compared to ₹84,035 lakhs in the previous year. Total income stood at ₹97,347 lakhs against ₹88,939 lakhs. The key standalone financial metrics are presented below:
| Metric: |
Q4 FY26 |
Q3 FY26 |
Q4 FY25 |
FY26 |
FY25 |
| Revenue from Operations (₹ Lakhs): |
25,345 |
22,769 |
23,419 |
95,026 |
84,035 |
| Other Income (₹ Lakhs): |
9 |
290 |
252 |
2,321 |
4,904 |
| Total Income (₹ Lakhs): |
25,354 |
23,059 |
23,671 |
97,347 |
88,939 |
| Total Expenses (₹ Lakhs): |
21,495 |
18,976 |
19,929 |
79,842 |
70,335 |
| Profit Before Tax (₹ Lakhs): |
3,859 |
4,083 |
3,742 |
17,505 |
18,604 |
| Net Profit (₹ Lakhs): |
2,878 |
3,038 |
2,796 |
13,225 |
14,086 |
| Basic EPS (₹): |
4.67 |
4.93 |
4.54 |
21.46 |
22.86 |
| Diluted EPS (₹): |
4.67 |
4.93 |
4.54 |
21.46 |
22.86 |
For Q4, standalone net profit stood at 287M rupees compared to 280M rupees in the same period last year, while revenue came in at 2.5B rupees versus 2.3B rupees year-on-year. Q4 standalone EBITDA rose to 456M rupees from 423M rupees year-on-year, with the EBITDA margin at 18.00% compared to 18.05% in the same quarter last year. Standalone total comprehensive income for the year was ₹13,280 lakhs compared to ₹14,057 lakhs in the prior year. Paid-up equity capital stood at ₹6,163 lakhs, with reserves excluding revaluation reserves at ₹86,371 lakhs as at March 31, 2026. Other income for the year includes a realised gain of ₹855 lakhs and an unrealised gain of ₹622 lakhs, compared to a realised gain of ₹3,885 lakhs and an unrealised gain of ₹396 lakhs in the prior year.
Cash Flow Highlights
On a standalone basis, net cash inflow from operating activities was ₹14,914 lakhs for the year ended March 31, 2026, compared to ₹2,850 lakhs in the prior year. Net cash outflow from investing activities was ₹1,934 lakhs, while net cash outflow from financing activities was ₹4,426 lakhs. Standalone closing cash and cash equivalents stood at ₹10,163 lakhs versus ₹1,609 lakhs at the start of the year. On a consolidated basis, net cash inflow from operating activities was ₹18,331 lakhs compared to ₹1,365 lakhs in the prior year. Net cash outflow from investing activities was ₹2,833 lakhs, and net cash outflow from financing activities was ₹5,062 lakhs. Consolidated closing cash and cash equivalents stood at ₹12,789 lakhs.
Dividend and Corporate Actions
The Board of Directors, at their meeting held on May 9, 2026, declared a 2nd interim dividend at 20% i.e. ₹2/- per equity share of ₹10/- each on 6,16,25,185 equity shares for the financial year 2025-26. Pursuant to Regulation 42(1)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the record date for determining the eligibility of shareholders entitled to receive this dividend has been fixed on Thursday, May 14, 2026. The key details of the dividend declaration are as follows:
| Parameter: |
Details |
| Dividend Rate: |
20% (₹2/- per share) |
| Face Value: |
₹10/- per equity share |
| Number of Shares: |
6,16,25,185 equity shares |
| Record Date: |
May 14, 2026 |
| Payment Date: |
On or after May 26, 2026 |
Management Commentary
Commenting on the results, Mr. Hemant Jain, Joint Managing Director, said: "We are delighted to report sustained, robust double-digit sales growth of 20.9% for FY26, driven by healthy momentum in both volume and value. These encouraging results validate that the strategic levers outlined in Vision 2028 are well-placed and are delivering results across all our brands. Execution-led operational discipline has enabled us to grow at scale while preserving profitability, resulting in a strong FY26 EBITDA margin of 19.6%.
It is also pleasing to share that Kraus Casuals had an outstanding year with high double-digit sales growth backed by an impressive 21%+ EBITDA margin, underscoring seamless integration post-acquisition. The acquisition has not only given us a meaningful entry into the women's casualwear market but is already creating value, validating it to be financially accretive and strategically aligned with our growth journey.
Our focused, multi-pronged distribution strategy — distinct and clearly defined for each brand — was instrumental in driving this performance. Our investments in brand building and distribution remain unwavering. By expanding our EBO network and reinforcing our position in Large Format Stores, we are driving stronger brand visibility and delivering consistent growth. As we look ahead, our growth levers are firmly in place and delivering as planned, giving us strong confidence in achieving our Vision 2028 commitments."
Group Structure and Audit
The consolidated results encompass the following entities:
| Entity: |
Relationship |
| Kewal Kiran Clothing Limited: |
Holding Company |
| Kewal Kiran Developers Limited (formerly Kewal Kiran Design Studio Limited / K-Lounge Lifestyle Limited): |
Wholly Owned Subsidiary |
| Kraus Casuals Private Limited: |
Subsidiary |
| White Knitwears Private Limited: |
Joint Venture |
The standalone and consolidated financial results were audited by Jain & Trivedi, Chartered Accountants (Firm Registration No: 113496W) and N. A. Shah Associates LLP, Chartered Accountants (Firm Registration No: 116560W/W100149), both based in Mumbai. An unmodified audit opinion was issued on both sets of results. The declaration of unmodified opinion was signed by Mr. Bharat Adnani, Chief Financial Officer, on May 9, 2026.
About Kewal Kiran Clothing Limited
Kewal Kiran Clothing Limited is one of India's largest branded apparel players with more than four decades of success. With its integrated operations consisting of Designing – Manufacturing – Branding – Retailing, the company has been able to penetrate through its targeted consumer base with its iconic brands of Killer, IntegrÃti, Lawman, Easies, Junior Killer & Kraus. With 666 Exclusive Brand Outlets and 80+ Distributors covering 3,000+ MBOs spread across India and presence across national chain stores, the company has a widespread distribution in India.