Kitex Garments Limited — Board Meeting, 04-08-2025: Outcome of Board Meeting

Kitex Garments has announced its Q1 financial results, with consolidated net profit at ₹19.30 Cr on revenue of ₹196.69 Cr. The board approved an enabling resolution to raise up to ₹3,000 Cr through equity issuance, likely via QIP, and increased authorized share capital from ₹25 Cr to ₹50 Cr. These strategic moves aim to fuel future growth. Auditors, however, highlighted concerns over the recoverability of ₹118.17 Cr trade receivables from associate Kitex USA LLC, which continues to incur losses. The company is also moving forward with the demerger of Kitex Childrenswear.