KG Denim, for a moment breached the 20% upper limit at Rs.109.70 which is also its life time high.

Thus denim and apparel maker posted a fantastic set of Q1FY17 numbers. Despite net sales dropping by over 1% (YoY) to Rs.153 crore, the company ended the quarter with a whopping 350% jump in net profit at Rs.9 crore v/s Rs.2 crore in previous Q1.

What really helped the bottomline was the sharp cut in costs, this turned around the entire story. Total costs were down 9% and this was led mainly by lower raw material, power & fuel and depreciation costs.

Consequently, EBITDA jumped up 48% at Rs.23 crore and margins improved from 10% to 15.2%.

The company’s equity is pretty huge at Rs.25.67 crore with EPS at Rs.3.62 (FV of Rs.10/share) for the quarter. Promoters stale stands at Rs.58.59%.