Multibagger stock rallies 122% in 6 months, Board sets record date for dividend

With a market valuation of ₹2,998.07 Cr, Kewal Kiran Clothing Limited is a small-cap company that operates in the consumer discretionary industry. One of India's leading branded garment producers, Kewal Kiran Clothing Limited (KKCL), specialises in the development, production, and marketing of well-known Indian clothing brands including Killer, Easies, LawmanPg3, and Integriti. The firm has released its Q2 results and announced its first interim dividend for the fiscal year 2022–2023 as well.

The company has said in a stock exchange filing that “The Board of Directors have in their meeting held on October 21, 2022 declared a 1st interim dividend @ 30% i.e Rs. 3/- per share on 6,16,25,185 equity shares of Rs. 10/- each for the financial year 2022-23 and that the date of payment of the said interim dividend will be on or after November 14, 2022. This is for your information and records pursuant to Regulation 43(1) read with regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.”

On a standalone basis, Kewal Kiran Clothing's net profit grew 44.82% YoY to ₹39.13 crore in Q2FY23 as opposed to ₹27.02 crore in Q2FY22. Sales rose 29.28% YoY to ₹226.34 crore in Q2FY23 as compared to ₹175.08 crore in Q2FY22. Kewal Kiran Clothing's net profit on a consolidated basis climbed 45.59% YoY to ₹39.09 crore in Q2FY23 from ₹26.85 crore in Q2FY22. Sales went up by 29.28% YoY to ₹226.34 crore in Q2FY23 from ₹175.08 crore in Q2FY22.

Kewal Kiran Clothing Limited's shares ended trading on Friday at Rs. 489.45 a piece, up 0.96 per cent from the previous close of Rs. 484.80. Compared to the 20-Day average volume of 223,188 shares, the stock had a total volume of 313,865 shares on Friday. The stock has produced a multibagger return of 126.98% over the last year, and on a year-to-date basis in 2022, it has produced a multibagger return of 110.92%. The stock's multibagger return for the previous six months was 122.78%, and over the previous month, it climbed by 17.25%. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 74.25%, FIIs holding of 3.95%, DIIs holding of 5.60% and a public shareholding of 16.21%.