Kitex Garments Limited announced the approval of its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The Board of Directors considered and approved these results, along with the Statement of Assets and Liabilities and Cash Flow Statement. The company’s board meeting concluded on November 02, 2026, after commencing at 3:30 PM.
Board Approves Financial Results
Kitex Garments Limited has officially announced the approval of its unaudited standalone and consolidated financial results. This significant step covers the performance for the second quarter and the first half of the financial year ended September 30, 2026.
Key Financial Documents Reviewed
The Board of Directors of Kitex Garments Limited convened a meeting on November 02, 2026. During this meeting, they inter alia considered and gave their approval to the following crucial financial documents:
- Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026.
- Statement of Assets and Liabilities for the half year ended September 30, 2026.
- Cash Flow Statement for the half year ended September 30, 2026.
These financial statements, along with the Limited Review Report from the Statutory Auditor, have been submitted to the stock exchanges. The board meeting commenced at 3:30 PM and concluded at 5:00 PM.
Auditor’s Report Highlights
The independent auditors, MSKA & Associates LLP, provided a review report on the financial results. A notable point raised by the auditors is regarding the company’s investment in an Associate Company, Kitex USA LLC. The associate entity has incurred continuous losses, and its net worth has been fully eroded. While the management has determined the carrying value of the investment as recoverable based on projections, the auditors were unable to provide corroborative evidence to substantiate the reasonableness of these unobservable inputs. Consequently, they could not comment on the recoverability of the carrying value of the investment as at September 30, 2026. This qualified conclusion was also present in previous review reports.
Standalone Financial Performance
For the quarter ended September 30, 2026, Kitex Garments reported total income of ₹19,074.21 lakhs. The profit before tax was ₹3,347.36 lakhs, leading to a net profit of ₹2,502.84 lakhs after accounting for tax expenses. For the half year ended September 30, 2026, total income stood at ₹31,969.95 lakhs, with a profit before tax of ₹4,840.08 lakhs and a net profit of ₹1,370.60 lakhs.
Consolidated Financial Performance
On a consolidated basis, for the quarter ended September 30, 2026, total income was ₹21,282.04 lakhs, with a profit before tax of ₹2,215.12 lakhs. The net profit for the quarter was ₹1,370.60 lakhs. For the half year ended September 30, 2026, consolidated total income reached ₹37,889.02 lakhs, profit before tax was ₹879.88 lakhs, and the net profit stood at ₹1,370.60 lakhs.
Statement of Assets and Liabilities
As of September 30, 2026, the standalone total assets were ₹160,829.39 lakhs, with total equity at ₹118,966.71 lakhs. Total liabilities stood at ₹37,161.11 lakhs. On a consolidated basis, total assets amounted to ₹318,802.95 lakhs, total equity was ₹123,545.60 lakhs, and total liabilities were ₹195,257.35 lakhs.
Source: BSE
