Kitex Garments Independent Director resigns effective June 06

Independent Director Mr. Chenakkott Philipose Philipose resigned from Kitex Garments Limited on June 06, 2026, due to personal reasons. The resignation, effective from the close of business hours on the same day, was communicated to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Consequently, Mr. Philipose has ceased to be a member and chairperson of all committees of the Board.

The Board of Directors placed on record its appreciation for the valuable contribution and guidance provided by Mr. Philipose during his tenure. In his resignation letter, he confirmed that there are no other material reasons for his departure other than those cited. The disclosure was made in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Resignation Details

The following table outlines the key particulars regarding the cessation of the director's role:

Sr No.	Particulars	Information
1	Reason for change	Resignation due to personal reasons.
2	Date of cessation	Close of business hours on June 06, 2026.
6	Other directorships	Nil
7	Confirmation on material reasons	Confirmed no other material reasons exist.

Mr. Philipose holds Director Identification Number (DIN) 01125157. The company has requested the exchanges to take the resignation on record.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.02%	+1.29%	-3.83%	-18.22%	-41.89%	+43.55%

Kitex Garments Limited has reported its audited consolidated financial results for the fourth quarter and financial year ended March 31, 2026. The company posted a consolidated net profit of ₹152.95 crore for FY26, a decline from ₹318.16 crore in the previous year. The board approved the results at a meeting held on May 30, 2026, and recommended a final dividend of ₹0.50 per equity share for FY26, subject to shareholder approval.

Q4 Financial Performance

The company reported a consolidated net loss of ₹92.87 crore for Q4FY26, a reversal from the net profit of ₹92.89 crore recorded in the corresponding quarter of the previous year. Revenue from operations declined to ₹1,019.41 crore from ₹2,003.69 crore year-on-year. EBITDA for the quarter stood at ₹1.70 crore, significantly lower than the ₹51.10 crore reported in Q4FY25, with the EBITDA margin contracting to 1.02% from 17.02%.

Metric	Q4 FY26	Q4 FY25
Net Profit / (Loss)	₹(92.87 crore)	₹92.89 crore
Revenue	₹1,019.41 crore	₹2,003.69 crore
EBITDA	₹1.70 crore	₹51.10 crore
EBITDA Margin	1.02%	17.02%

Annual Performance and Dividend

For the full year FY26, the company reported a consolidated net profit of ₹152.95 crore. Total revenue for the year decreased to ₹6,194.14 crore from ₹9,828.01 crore in the previous year. The board recommended a final dividend of ₹0.50 per share, or 50%, of the face value of Re. 1 each, pending approval at the ensuing Annual General Meeting.

Auditor's Report and Disclosures

The statutory auditors, MSKA & Associates LLP, issued a qualified opinion on the standalone financial results regarding the company's investment in its associate, Kitex USA LLC. The auditors noted that the associate's net worth was fully eroded and management could not provide corroborative evidence to substantiate the recoverability of the investment carrying value of ₹27.76 crore. However, the auditors issued an unmodified opinion on the consolidated financial results. The company wrote back an Expected Credit Loss (ECL) provision of ₹17.50 crore during the year.