Attach please find the Annual Report for the F.Y. 2025-26

Corporate Overview Statutory Reports Financial Statements Annual Report 2025-26 Contents CORPORATE OVERVIEW 01 Ahead in Every Thread 02 About Us 04 Year in One View STATUTORY REPORT 06 Our Journey 08 Our Performance 40 Management Discussion and Analysis 10 Chairman and Managing Director’s Message 54 Director’s Report 12 In Conversation with Joint Managing Director 82 Corporate Governance Report 16 Into the Thread 106 Business Responsibility and Sustainibility Report 18 Talent 20 House of Brands and Visibility 24 Retail Reach and Digital Access FINANCIAL 28 Execution with Responsibility STATEMENTS 30 Assortment Agility 32 Direction 140 Standalone Financial Statements 34 Governance 220 Consolidated Financial Statements 36 Board of Directors Forward-Looking Statement In this Annual Report, we have disclosed forward-looking information to enable investors to comprehend our prospects and take informed investment decisions. This report and other statements - written and oral - that we periodically make, contain forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’ and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in our assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. AHEAD IN EVERY Thread Fashion is changing at a pace the industry has rarely seen before. The brands that are proactive are the ones that recognise changes before they become obvious. KKCL’s strength lies in its ability to translate emerging consumer trends into market-ready products with speed. International design inputs, specialised denim-washing expertise and in-house manufacturing enable faster product development without compromising quality or pricing discipline. KKCL has that advantage. It carries the memory of Killer, one of India’s strongest denim-led youth brands, while steadily building a wider casualwear story around it. Kraus strengthens the Company’s presence in women’s fashion. Lawman adds a sharper style expression. Integriti anchors the Company’s value fashion play. Junior Killer takes the attitude of the flagship brand to a younger wardrobe. FY26 showed how these parts are beginning to weave together. The portfolio became wider, the channels became deeper and the Company continued to grow with a clear sense of control. KKCL is strengthening the many threads that make a fashion business last: recall, relevance, reach, freshness, access and financial discipline. That is where the Company is moving ahead. In every thread. ABOUT US KKCL at a glance Established in 1992, Kewal Kiran The Company has built an integrated fashion business with capabilities across design, manufacturing, branding, distribution and retail. Its portfolio includes Clothing Limited (KKCL) is one some of India’s recognised in-house brands such as Killer, Integriti, Lawman, of India’s established lifestyle Easies and Junior Killer, with each brand addressing a distinct consumer, style apparel companies, with a strong and price segment. presence across India and select KKCL’s portfolio gained further depth with its strategic investment in Kraus international markets across Asia Casuals Private Limited, strengthening its presence in women’s denim and and the Middle East. casualwear. This has widened the Company’s addressable market and added an important growth platform beyond its traditional men’s casualwear strength. Backed by manufacturing capabilities, brand recall and a multi-channel distribution network, KKCL reaches consumers through exclusive brand outlets, large format stores, multi-brand outlets, distributors, e-commerce platforms and export markets. This integrated model is strengthened by international design and consulting Vision inputs, deep denim and washing capability, and long-standing direct relationships with channel partners and vendors. Together, these support product quality, faster response and a fair, consistent approach to pricing To be a world-class business and partnerships. organisation which enables value, best services, and enhancement of net worth for all the stakeholders. Mission Driving excellence through our people, business partners and other stakeholders. Executing the business based on the three core growth principles of: Stability, Sustainability and Scalability. Focusing on consumer satisfaction and executing a customer-centric business module. Adopting international standards and best practices across our operations. 2 KEWAL KIRAN CLOTHING LIMITED Corporate Overview Statutory Reports Financial Statements OUR CORE VALUES DIVERSIFIED PRODUCT BASE The Company’s all- encompassing product EXPERIENCE portfolio artfully caters to the discerning requirements of its The Company enjoys an esteemed customers. experience of more than three decades in this industry. STATE-OF-THE-ART MANUFACTURING FACILITIES Embracing cutting-edge technologies in our manufacturing process is the ENVIRONMENT- cornerstone of our success. FRIENDLY Our commitment towards With a steadfast commitment innovation and continuous to sustainability, the Company improvement, empowers prudently invests in state-of- us with core competence, the-art, environment-friendly allowing us to craft the manufacturing techniques, finest products that delight ensuring the production of our customers. consumer-friendly apparel. IMPECCABLE QUALITY Our brand’s value is STRONG underscored by product DISTRIBUTION NETWORK quality and environmental Our expansive presence certifications, reflecting our reaches far and wide, as we commitment to excellence. proudly serve customers We prioritise both quality and across 24 states and over sustainable practices. 350+ cities and towns in India. BUSINESS ETHOS Morality Rightness Ethical practices Annual Report 2025-26 3 YEAR IN ONE VIEW FY26 performance highlights ` 1,212.8 Cr ` 237.9 Cr Revenue from operations EBITDA 20.9% YoY growth 24.8% YoY growth 19.6% EBITDA margin Above guided range of 17-18% ` 152.3 Cr 12.3% PAT margin ` 511.6 Cr 666 ` 305 Cr Gross profit EBO network Net cash 42.2% 57 net additions Cash and investments gross margin in FY26 less total debt 180.1 Lakh 56% AA-/Stable Units sold Retail mix Credit rating Apparel units at 72.0% Retail includes EBO + LFS Reaffirmed by CRISIL of total ` 668/unit 44% Sales realisation Non-retail mix Improved from ₹ 595/unit Non-retail includes MBO + E-Comm + Factory outlet + Exports 4 KEWAL KIRAN CLOTHING LIMITED Corporate Overview Statutory Reports Financial Statements PRODUCT-WISE REVENUE MIX Category FY26 share FY25 share Direction 48% 46% Core denim strength JEANS remained resilient Lifestyle breadth continued 22% 21% SHIRTS to improve Share moderated as the 10% 12% TROUSERS portfolio mix broadened T-SHIRTS 6% 6% Stable category presence Relative share eased as the 13% 15% OTHERS portfolio diversified Channel mix FY26 mix 44% 56% Non-retail Retail Annual Report 2025-26 5 OUR JOURNEY From denim strength to lifestyle scale 1980 1989 1992 Manufacturing Killer is Incorporated begins born for scale Commenced operations Launched Killer, Incorporated Kewal as Keval Kiran & Co., creating the flagship Kiran Clothing Limited, building early production denim and youth formalising the experience and a deeper fashion identity that business platform [Showing first 8,000 characters — download PDF for full document]