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Kewal Kiran sees 25-30% growth; to open 31 stores by March
Kewal Kiran Clothing hopes to maintain a revenue growth of 25-30% in the current fiscal, boosted by strong apparel sales and expansion of its retail operations.
Kewal Kiran Clothing hopes to maintain a revenue growth of 25-30% in the current fiscal, boosted by strong apparel sales and expansion of its retail operations.
The company, which makes the Killer and Lawman brand of jeans wear, plans to open 31 more retail outlets by March, adding to the more than 240 stores it has right now, chief financial officer SL Kothari told moneycontrol.com.
In the second quarter, Kewal Kiran's revenue rose 39% year-on-year to Rs 100.8 crore. However, net profit grew a slower 22% at Rs 18.4 crore. Operating profit margin also declined 400 basis points to 26.1% due to increase in cost of goods sold as a percentage of sales, expenses in promoting lifestyle accessories and increasing manufacturing and selling expenses, apart from high raw material costs.
Kewal Kiran is expecting a better third quarter helped by strong Diwali sales and the raw material [cotton] prices are also on a declining trend, he said.
Click on the audio icon to listen to the full interaction with SL Kothari, chief financial officer, Kewal Kiran Clothing.
