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Revenue
₹325 Cr
verified against source
Revenue YoY
12.4%
reported change
EBITDA
₹62 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
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What the record says.
Kewal Kiran Clothing delivered a strong Q4 FY26 with consolidated revenue of ₹325 crore (+12.4% YoY) and full-year revenue of ₹1,212 crore (+20.9% YoY). EBITDA for the quarter was ₹62 crore (+18% YoY), with margins expanding to 19.6% for FY26, above the guided 17-18% range. Growth was driven by double-digit volume growth of 16%, strong same-store sales growth of 6.8% (Q4) and 9.4% (FY26), and robust performance across brands including Killer, Cross, and Junior Killer. The company raised its three-year CAGR guidance from 15% to 20%, with organic growth of 15-18% supplemented by inorganic acquisitions. Management remains open to acquisitions across categories and price points. Key risk: raw material price inflation from global trade disruptions may pressure margins if not fully passed on.
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Guidance to track
- Management raised the Vision 2028 CAGR target from 15% to 20%, with organic growth of 15-18% and inorganic contribution of ~5%.
- Organic revenue growth expected to be in the range of 15-18% for FY27, excluding any inorganic contributions.
- Planned net addition of 50-70 EBOs in FY27, primarily franchisee-operated, with COCO stores at 15-20% of the mix.
- Annual capex requirement of ₹30-35 crore for front-end and back-end investments, including COCO stores.
Risks flagged
- Management acknowledged that raw material prices have increased substantially due to global trade disruptions, and the impact on margins is uncertain.
- Exports, primarily to the Middle East, have been disturbed over the last 3 months and may remain constant or decline next year.
- Cross brand has higher working capital days due to skew towards LFS and retail, potentially increasing overall working capital above the 130-140 day target.
- The raised 20% CAGR target relies on acquisitions, which may not materialize uniformly each year, creating execution risk.
Key quotes
- We are pleased to report a strong close to FY26 with Q4 marking yet another quarter of double-digit sales growth and taking full-year growth of 20.9%.
- We aim to further accelerate the growth target from 15% CAGR to 20% CAGR in the next three years and it's expected to be meaningfully supported by a well-defined acquisitions framework.
- We don't want to lose the revenue. Major focus is revenue, ready to take that kind of heat.
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