Kewal Kiran net turnover crosses Rs 100 cr benchmark

Mumbai, Jan 24 (UNI) Kewal Kiran Clothing Limited (KKCL) has seen its net turnover cross the benchmark of Rs 100 crores.

For the year till date, total income was at Rs 108.46 crore, while profit after tax (PAT) was at Rs 15.44 crore. Earnings per share for the nine months till date were at Rs 12.57 per share, said a company release here today.

During this time, the company has sold 1.87 million garments. Net realization per garment was Rs 551 and retail realization per garment was Rs 932, showing a growth of 4 per cent over last year.

For the third quarter, total income stands at Rs 34 crore, while PAT is at Rs 3.62 crore. Earnings per share for the quarter were Rs 2.94. KKCL opened 7 K-LOUNGE stores during the third quarter, taking the tally up to 49.

The 50th K-LOUNGE was launched at Ahmedabad on January 10. The pace of store opening will be accelerated in the next year with plans of opening 38 K-LOUNGE stores, with an average area of 2000-2500 square feet. The company currently enjoys a total retail space of 60,000 sq ft and plans to expand this to 2,25,000 sq ft by end-2008.

During this quarter, KKCL acquired 53,000 square feet of land, with built-up area of 40,000 square feet, for a new stitching facility. While the first phase of manufacturing expansion will be operational by April, the second phase will begin by September, taking the total manufacturing capacity to 40 lakh pieces. The company has also invested Rs 33 lakh in White Knitwear Private Limited (WKPL) and will make further investments, taking a one-third equity stake in the company.

UNI