Kewal Kiran Clothing Limited (NSE: KKCL) Q3 2026 Earnings Call dated Feb. 12, 2026
Corporate Participants:
Hemant P. Jain — Managing Director
Pankaj Jain — President
Analysts:
Ankit Babel — Analyst
Bajrang Bafna — Analyst
Prateek — Analyst
Naveen Baid — Analyst
Deepak Ajmera — Analyst
Naitik Mutha — Analyst
Arpan Rathore — Analyst
Sahil Doshi — Analyst
Resham Mehta — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to Kewal Kiran Clothing Limited Q3 and 9 months FY26 earnings conference call. As a reminder, all participants line will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Before we begin, a brief disclaimer. The presentation which Caval Kiran Clothing Limited has uploaded on the stock exchange and their website, including the discussion during this call contains or may contain certain forward looking statements concerning Kwel Kiran Clothing Limited business prospects and profitability which are subject to several risks and uncertainties and the actual result could materially differ from those in such forward looking statement.
Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your touch tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Hemant chain joint MD of Kewal Kiran Clothing. Thank you. And over to you sir.
Hemant P. Jain — Managing Director
Good afternoon everyone and thank you for taking the time to join us today. Welcome to Kewalkan Clothing Limited Q3 and 9 month FY26 earning call. I am joining by Mr. Pankaj Jain, President Details and Barathan Capital and our Investor Relations Advisors. We are pleased to report. You report yet another strong quarter of consistent double digit growth both on a stand alone and consolidated basis. Our consolidated sales grew by a robust 18% year on year which is clear validations of our focus, execution and resilience of consumer Demand. For the nine month period our performance stands strong at 24.4% giving us good momentum towards exceeding our guide range.
Let me walk you through some of key highlights for the quarter. Consolidated revenue for Q3FY26 stood at rupees 301 crore up 18% year on year led by strong growth in both volumes and value. Standalone revenue grew by around 13% year on year to Rs. 228 crores with growth contributions from both apparel as well as assets risk category. Apparel growth on consolidated basis was 16.6% year on year driven by robust consumer demand especially for our winters and enhanced market presentation. This clearly under underscoring the effectiveness of our design and product initiatives coming to our operational performance this quarter result are testament to three things.
Effective executions of our growth strategy. Second, the strong appeal of our fashion driven collection and our ability to navigate the competitive landscape with agility. Together this reinforce our confidence that our growth levers are firing in the right direction. Some notable operational highlights across our brands include Killer alone now operates 456 EVOs and continue to expand its footprint in Ambio as well as other channels. Loman where we are seeing a smooth D2C pivot with an expanding network of brand focused EBOS to 93 discontinued network is in the Ambios Integrity which has been repositioned with the new pricing and value propositions to address a large market Junior Killer gaining positive traction in Kitwear category Cross robust sales performance and growth in EBITDA margin at par with overall KKCL KKCL margin profile on track to evolve a significant player in the women’s casual wear market.
Started getting good traction in MBO’s export market and expanded EBO’s network to 23. Focus now towards further improvement in working capital cycle. In parallel we continue to work on new initiatives including experimenting with ethnic wear and exploring new categories such as footwear and lifestyle accessories. With this strategic initiative gaining traction, we remain confident in our path of achieving 1500 crores in sales by FY28. On the profitability front, EBITA came in at Rs 63 crores reflecting a staggering 34.2% growth. Year on year, EBITDA margin expanded to 20.9% driven by efficient operational performance surpassing our guided range of 70 to 18%.
Key driver of this margin expansion include operating leverage, a favorable product mix and continued cost discipline across the business. Notably there has been an impressive EBITDA margin improvement for Cross which stood at 23.7% for the quarter demonstrating our ability to drive cost synergy post the acquisition effectively. On the distribution front, please to share that all our channel of distribution reported healthy double digit growth underscoring the effectiveness of our go to market Strategy. Revenue grew 15% in the retail channel and 21% in non retail, showcasing balanced and healthy growth across our format. In line with our strategy to expand our brand Footprint, we added net 14 exclusive brand outlets EVOs during the quarter taking our total to 666 stores as of December 31, 2025.
Killer alone now operates 456 EVOs underscoring its dominant brand puzzles. Well supported by continuing growth in EVOs of Crox and Lome in relation to our brand momentum, the recently concluded automated 2026 trade show in January across our key brands received a very encouraging response. By showcasing our collection alongside key competitor under one roof, we were able to demonstrate our competitive strength and generate strong engagement. This has further boosted our visibility and reinforced our partners confidence in our brands. Coming to our outlook and strategy Looking ahead, leveraging our iconic brand and agile retail infrastructure, we believe KKCS is well positioned to seize emerging growth opportunities we will continue to drive growth by expanding our EBO network, strengthening partnership with national chain and EMBO’s and broadening our product offering in line with evolving fashion preference.
We remain confident that our focus on stability, sustainability and scalability with clearly defined goal, we continue to drive long long term value creation. With that I had now like to open the floor for questions.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on the touch tone telephone. If you wish to remove yourself from the question queue, you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the line of Ankit Babil from Shubkum Ventures. Please go ahead.
Ankit Babel
Very good afternoon sir and congratulations for excellent set of numbers. Sir, a couple of questions. You did mention in your initial remarks about some change in your strategy in Lawman and Integrity. Can you please explain that in detail that what strategy you have changed and what was the impact of it on the revenues during the transition phase?
Pankaj Jain
Lawman generally was priced somewhere between Integrity and Killer. We have discontinued it from the distribution network and its full fledged focus to make it a more D2C brand and consumer focused brand. With expansion of EVOs, the Lawman has already touched close to around 93 odd stores. Okay. And we are seeing a good and positive attraction in that brand now. Okay. Over the last two years. There was.
Pankaj Jain
A revenue dip by close to around. There was a dip in revenue and I feel. Okay. Going forward. Okay. That that repositioning of the brand has helped the brand and going forward there will be a double digit growth in that brand. Going with the Integrity brand. It was. Looking at the value format. We have now introduced it into more modern trade channels. We have revised its price brackets and we have started seeing attractions for it. Okay. I feel the growth for the Integrity brand will start happening from first quarter of the next year period.
Ankit Babel
These 93 EBOs of Lawman were opened in what time frame?
Pankaj Jain
Close to around 14, 15 months period.
Ankit Babel
Okay, and what is the strategy here? What kind of growth are you seeing in these ebos in the next 12 months? How fast you are going to increase it?
Pankaj Jain
So first announcement was to have a unit matrix positive, which we feel that should happen from this year itself. We have the number of stores growth should start happening from next year. Now.
Ankit Babel
No, that I understand, but at what growth rate? I mean this 93 growth rate. What are your plans to take it to say in the next 12 months to 150, 125 or 200.
Pankaj Jain
So the stores as we mentioned it, the the number of stores shall double in three year.
Hemant P. Jain
[Foreign Speech] Slowly.
Ankit Babel
Okay, I understand, I understand. So the margins in these brands would also be similar to the company level margins.
Hemant P. Jain
Not necessary. But end of the day what we are committing the KK Shell should earn 70 to 18% EBITDA margin.
Ankit Babel
Why I asked this question was that if these brands are already doing a low margins and after considering those low margins you have reported some 20% margins. So going forward if the margins in these two brands will only improve. So at least you sustain your margins at current levels at 1920%.
Hemant P. Jain
[Foreign Speech] To 18% margin ebitda margin 1% 2%, 1% plus minus. But yes, we always try or better and we are working on that.
Ankit Babel
Okay. And sir, so shall we conclude that the transition phase of lawman and integrity is now over and you know they will only contribute towards the growth rate which was missing in, in the last 12 to 18 months.
Pankaj Jain
You can conclude that but you’ll still see that attraction from first quarter of next year itself.
Ankit Babel
Okay, okay, okay, great sir, thank you. I’ll get back into the queue if I’ll have more questions. Thank you.
operator
Thank you. The next question is from the line of Bajrang Bafna from Sunidi Securities. Please go ahead.
Bajrang Bafna
Congratulations for good set of numbers, sir. Broadly you know we are a domestic centric brand right now and we are able to, let’s say the guidance is towards 15 to 20% sort of growth for next two, three years. That is what broadly we are aligning with. But now you know the market has opened in terms of India for in the US side also Europe side also and multiple trade deals that India has entered into different countries over last six months period. So now there is a renewed interest so to achieve little more aspiration, you know and we are a very cash rich balance sheet right now and these global brands are also you know, coming towards our country.
So any thought process on that count, you know to tap the global market also and probably go slightly higher in terms of growth opportunities or still we feel that we will be domestic centric and will only focus on domestic side because you might not have tapped the entire potential of this country itself. So if you could guide on those count will be really helpful.
Hemant P. Jain
But it’s too early to say anything. This is the time. But yes we are, We have to see the European market, American market or whatever or the manufacturing scale. So it is too early to say anything and I don’t want to commit anything because what is our first target? Our first target, whatever I committed to you in three years I want to do 1,500 crores first of all and then opportunity. So we are ready to grab it. Grab it. So clear mindset, Clear [Foreign Speech].
Pankaj Jain
To to answer your question, B. Okay, it’s still on our mind but still not on paper.
Bajrang Bafna
Why that is what I’m trying to understand. Because not yet on paper thinking there has to be something as a strategy which you have to put in place. There has to be a team which will cater to those markets. Otherwise.
Pankaj Jain
I understand what you’re trying to say Basi, but it’s not going to happen for the first year itself. If you’re looking at the quarter 2620 for the year 2627, nothing’s going to happen. We’ll put. Okay, it’s on our mind that a new team has to be established for the sixth. Okay. Maybe it happens for the second, second half of the first year of 26, 27. But nothing is nothing finalized for that.
Bajrang Bafna
Okay, got it. And about all the brand centric business right now, you know, you know I was there on that day and we have observed that the most of the distributors who have come, they were pretty much excited for the killer brand. And we have also noticed that maximum orders that they were putting is about the killer brand and not so excitement was there for the other brands that we are having. So just to get as a sense of curiosity, it was just a ground observation. Not something that probably I can vouch for but what we have observed, I’m just sharing and your thought process on that, you know to get create that kind of curiosity and excitement for your other brands.
You know what is something that probably you can elaborate on that, you know what strategy that probably will deploy.
Pankaj Jain
It was a pool of investors. Okay. All my buyers all put together. Killer being the flagship brand. Definitely you will see some. Okay that excitement and the evoke. Okay. And when okay. The other set of investors. But in terms of orders there has been a growth in terms of all the brands.
Hemant P. Jain
Secondly, Bapraji [Foreign Speech].
Bajrang Bafna
Okay.
Hemant P. Jain
[Foreign Speech] All the dealer is coming for the job [Foreign Speech].
Bajrang Bafna
Got it. And Sir Amara Kuch broader guidance, you know, for the, you know like are we going for the store edition count or hamlogic square feet edition because you know your growth is anyway proportional to the square feet addition, you know, whatever that you are holding right now square feet edition. You know that will also drive your growth. Of course profitability is the prime important. You have already indicated that. But any thought on that percentage growth square feet edition expectation. And of course the second part is that the normal SSG growth [Foreign Speech].
Hemant P. Jain
[Foreign Speech] 4 to 5% or 6% 3 to 4% value map addition balance Bachaki Apka square feet. In future. So. So it. It’s all depends. If you ask me we are taking a strategic 1200,000 square feet now I am targeting 2000 or 1 above 1,500 that we can keep all my junior junior or maybe in future killer ladies launch.
Pankaj Jain
[Foreign Speech] So we say time to time. Market Demand or Joe number 900. It all depends.
Bajrang Bafna
I have observed in urban fashions I have observed in multiple large format stores. I don’t know Kivo Matlab economics but the attraction in the malls and all is the large format stores right now.
Hemant P. Jain
[Foreign Speech] By default agarajab gender categories [Foreign Speech].
Bajrang Bafna
Correct.
Hemant P. Jain
[Foreign Speech].
Bajrang Bafna
Correct. Correct [Foreign Speech].
Hemant P. Jain
[Foreign Speech] So slowly, slowly we build a team. They are the retail specialist. So see end of the day. As a businessman.
Bajrang Bafna
Right, right, right. We are only motivated sir. Correct.
Hemant P. Jain
Thank you sir. Thank you.
Bajrang Bafna
Okay sir. Okay. Thank you sir. Thank you very much and all the very best.
Hemant P. Jain
Thank you.
operator
Thank you. The next question is from the line of Pratik from ccil. Please go ahead.
Prateek
Hi sir. Am I audible?
Pankaj Jain
Not very much. Can you be little louder?
Prateek
Hello, I’m tomorrow.
Pankaj Jain
Yeah. Now Better?
Prateek
Yeah. Yeah. Okay, so to continue with the previous participants you indicated that the current focus is on driving positive SIM store growth before accelerating expansion. So could you help us understand what is the constraining the pickup at the store levels? I’m talking about Lemon brand. So specifically our challenge is more related to merchandise relevance, store location, quality and catchment section issues.
Pankaj Jain
See lawman was already present. Okay, I said okay getting the product, the pricing, having that attraction and having the repeat buy was so in all say getting the unit matrix right was the challenge for a year one period. Okay, we see that. Okay, we are seeing that okay getting. Into place within this year. So that’s the reason we saying that okay the growth expansion or the number of stores expansion Norman is going to happen for the next year period. Now.
Prateek
Okay, okay.
Pankaj Jain
When you said about the okay the market scenario is okay we see that okay there was a healthy growth the. Like to like stores for all. All the stores put together on cable Kiran front There was a 10% SSD growth for the nine month period.
Prateek
So is my understanding correct that there is no issues in merchandise front right now?
Pankaj Jain
See, there are plus and minuses happening in the market scenario but I don’t think that market is not growing.
Prateek
Okay, okay, okay. Answer One second thing is the company is essentially introduce the Punia brand to participate in ethnic wear segment. But there was a limited discussion around this initiative in the presentation and opening remarks. Could you help us understand regarding the strategic intent behind entering this category at this stage?
Pankaj Jain
As we mentioned in our presentation that we are doing lot many pivots is one of our pivots. It’s too early to comment on it.
Prateek
Okay. I was just asking because you know, at this stage while we are recovering Lumen PG3 integrity, scaling up cross and expansion of kit segment and yeah, so.
Pankaj Jain
I’m saying. Okay, small, small pivots are happening on on the back end also. Okay. It’s too early to comment as of Today.
Prateek
on P. Okay, okay. And finally sir, with the expansion into categories such as women and kids, winter wear etc, we are looking to relaunch K K launch as a format showcasing the entire portfolio. Few times back, could you elaborate on the incremental strategy for this format.
Pankaj Jain
Right now? Okay. Our entire focus is opening okay. Brand oriented stores and that’s the reason K launch has been kept on hold.
Prateek
Okay. Okay. All right. And just a final, final question. Cross delivered a strong growth of 37 and a half percent during the quarter. Could you help us understand the drivers of this performance? Specifically how much of the growth came from expansion and distribution reach versus like to like growth within the existing network?
Hemant P. Jain
[Foreign Speech]. That is only last format. Export start Karbia business. The base is very small [Foreign Speech]
Prateek
Okay. Okay. So can you just highlight how much would be like to like road during the existing network?
Pankaj Jain
Okay. It was more than 10% on L2L.
Prateek
Okay. Okay. Thank you so much and all the best for the page.
Hemant P. Jain
Thank you.
operator
Thank you. The next question is from the line of Naveen Beyt from Nuama Asset Management. Please go ahead.
Naveen Baid
Yeah, thank you for the opportunity and. Congratulations on a great set of numbers. Just wanted a couple of data points. One, what is the retake? What is the retail area that we. Are currently sitting on as of the. End of the quarter? And what was the console?
Pankaj Jain
Can it be a little louder?
Naveen Baid
Yeah. Okay. Am I audible now?
Pankaj Jain
Yeah. Better.
Naveen Baid
Yeah. Okay. So what is the retail area that we are sitting on at the end of Q3? And, and what was the consolidated same store sales growth for the quarter?
Pankaj Jain
Okay. The L2L growth for nine month period was around 10% and for the quarter was around 1%.
Naveen Baid
Okay.
Pankaj Jain
1% was because of change in season period for quarter two and the quarter three differentiation.
Naveen Baid
Okay. Okay. And what’s the detail area that you’re sitting on?
Pankaj Jain
I don’t have that number on hand right now. But we can take this question offline.
Naveen Baid
Take it. I’ll connect with you offline. Yeah. Thank you. That will be also my side.
operator
Thank you. The next question is from the line of the Deepak Ajmera from Ige India. Please go ahead.
Deepak Ajmera
Yeah. Hi. Thank you for the opportunity. My. I’m audible.
Pankaj Jain
Yes. Yes.
Deepak Ajmera
So my question is regarding the bifurcation of the growth. Since having said that we want to grow around 15 to 20% a year. So how could the bifurcation look like. Between let’s say per square foot growth and triple sg?
Pankaj Jain
We are growing on all the channels of sale or maybe we are operating on all the channels of sales. So giving a number in terms of square foot is not the exact example. Where. It’s not the exact example. Okay. But definitely we are monitoring. Okay. L2L formats. Where we have been growing drastically for the nine month period the growth was around 10%.
Deepak Ajmera
Okay. So what could the prospective proportion could look like? I’m not pinpointing down you on a particular number but how could the proportion of the growth look like .
Pankaj Jain
right now On the consolidated level the retained to non retail mix is around 50. Okay. I think it should stay in the similar levels.
Deepak Ajmera
Okay, got it. And secondly in. In recent past we have been growing faster than 15 to 20%. Correct. So why now is our endeavor to let’s say growth in. In between this range?
Pankaj Jain
Deepak, I feel okay, the base was lower and that’s the reason. Okay. That’s a more. Achieved. We feel that that’s the most achievable number where we can sustain that growth as well as scale it.
Deepak Ajmera
Okay.
Pankaj Jain
Without any change in margins.
Deepak Ajmera
Okay. Okay. Thank you.
operator
Thank you. The next question is from the line of Natic from NV Alpha fund. Please go ahead.
Naitik Mutha
Hi sir. Thanks for taking a question. So the first question is, you know, for the first nine months almost 900 crores. And this year seems doable. Isn’t that a bit conservative? Because that means two years.
Pankaj Jain
The entire presentation was given. Okay. A year before. Okay. We are definitely this year will be surpassing our estimates. And that’s the reason. Okay. If there is any change in the estimates, we will definitely let you know.
Hemant P. Jain
[Foreign Speech] Business Karna. Conservative figurine or Better than.
Naitik Mutha
Got it sir. So my second question is. In that number, is it Safe to assume 60% of our revenue will come from retail channels given that we are adding stores aggressively.
Pankaj Jain
Okay. So right now the retail mix to non retail mix is around 55, 45. It may change over to 2% or 3%. Not maybe.
Naitik Mutha
Right. And sir, given case is channel, you know, margins are better than non retail. So we should, we should also see some, some bit of either maintaining the margins or better margins than the 17, 18. Right. As the mix increases retail channel.
Pankaj Jain
On the composite blend, the margins are similar in terms of retail as well as non retail.
Naitik Mutha
Okay. It’s. It’s similar. Okay, got it sir. That’s it from my side.
Pankaj Jain
So thank you, thank you, thank you.
operator
The next question is from the line of Arpan Rathor from Insight Advisory. Please go ahead.
Arpan Rathore
Good afternoon, sir. First of all let me congratulate on a great set of numbers. Specifically both revenue growth and EBITDA growth exceeding the absolute number. So couple of questions from me. First is seen expansion in gross margin. What would be a sustainable gross margin going forward?
Pankaj Jain
So the gross margin is a composite mix of the channel as well as the category as well as discounting in the market or how the market performs it. Okay. Last year it was close to around 40%. Okay. But this year it’s around 42%. I think that’s a maintainable gross margin for us.
Arpan Rathore
Sure. Will it be possible to share the EBITDA margin for cross now reserves is what we what to expect. It was when we had acquired it.
Pankaj Jain
When we acquired it was around 12 to 13%. 12%. Okay. Currently it’s about 20%.
Arpan Rathore
So. Yeah. So my next question is on that only you have demonstrated successfully and you know, improving the numbers for a brand which you acquired, what would be the next target?
Pankaj Jain
Improving the working capital for that company.
Arpan Rathore
That would be great. No, no. So that is in terms of the cost. But I’m saying now that the company has sufficient cash reserves, will there be another acquisition going forward soon?
Hemant P. Jain
[Foreign Speech] It’s a strategy. Only then only we acquire that brand. So yes, we are open for that acquisitions.
Arpan Rathore
Great, great, great sir. And what would be the growth guidance for say FY 2728 broad numbers.
Hemant P. Jain
That we never says. Give me Hajar kai to Pele 1st year 2nd year dead so karanga 3rd year majaka daiso Karangay Hamara Vo Shadi Business Hora business Case of the Badna Chi Kabiki market We support Karthiya Kabi market Nobody, not a single promoter will give 100%. But yes, we are try always.
Arpan Rathore
That’s true. That’s true, sir. And one broad question. There is too many FTAs which have got signed the trade deals and we have a established brand already. Plus we have a great set of manufacturing facilities. Will we be looking at export potentials?
Hemant P. Jain
Yes, maybe it’s too early. Manufacturing opportunity. We are ready to take that opportunity also.
Arpan Rathore
Congratulations once again. Keep up the great performance. Thank you.
operator
Thank you. Anyone who wishes to ask a question may press star and 1. The next question is from the line of Sahil Doshi from Thinkwise wealth managers. Please go ahead.
Sahil Doshi
Hi, good afternoon sir. And congratulations on a great set of numbers.
Pankaj Jain
Thank you.
Sahil Doshi
So just this gross margin expansion which we’ve seen in this quarter. Just wanted to understand little better. One, we’ve seen almost 50% kind of a growth on a y basis on other than accessories. Is that also contributing to this or do you think that the entire portfolio realignment, integrity, lawman, all of that is complete and now we are confident that this kind of a gross margin is sustainable.
Pankaj Jain
So it’s a mix of everything. I said it’s a channel mix. Brand mix. Okay. Also the factors relating to discounting. Okay. How the market performs everything was put together and I think now, okay, maintaining this level, this level is maintainable.
Sahil Doshi
Understood. So just, you know, just trying to understand strategically when. So if our gross margins are likely to be maintained at this and we are at around 20% margins. So when we are saying 17, 18% is what we should go towards or we should think so that Delta is being eaten away by what line item is it? Aggressive brand spend which we want to do or it will be on the pricing side.
Pankaj Jain
So you rightly caught it. Right. Okay. It would be more towards the brand spend.
Sahil Doshi
Okay. Because that we not seeing it at least in this year, at least in the selling and distribution expenses haven’t really increased. So just wanted to strategically understand two to three years out how much this 5% spend should it go to 78%.
Pankaj Jain
It will remain between 5 to 7%.
Sahil Doshi
5 to 7%. Okay. Okay. Because like we’re saying pricing we are now okay with 42. So that’s why I’m not able to see where, you know, many. I think there is enough room for us to do better.
Pankaj Jain
Okay. But I feel okay, we have already delivered on the gross margins level. Now going to the line item which is below the line activity, it will be going towards the SND spend.
Sahil Doshi
Okay. Okay.
Hemant P. Jain
[Foreign Speech] End of the day 70 to 18% experimental cost. Jada kitna hoga. So it all depends sometimes.
Sahil Doshi
Right? Right. Appreciate that, sir. Second curry cross may see. You know we’ve done a fabulous almost a 37% growth in this quarter and you know margins come to around 24% which is much higher than even KKCL has done. So how sustainable is this? Is what I wanted to understand.
Pankaj Jain
Okay. Our guidelines still stays at around 18 to 20%.
Sahil Doshi
Okay. Because you know you said that your first objective was to get their margins at our level. Of course this seems to have increased better than our level in on a blended basis. So do you think there’s likely when again when we are saying 17 to 18, is it more on the pricing side or more on the investment in the branding and the other.
Pankaj Jain
So you will see that okay, the SND cost is muncie for cross brand. Okay. That that additional delta will be spent there.
Sahil Doshi
Okay, okay, okay, understood. And just lastly to understand this cross growth better, like you said, 37% growth is there. You said LTL is more than 10% but ideally it should be much higher. Right. Because your MBO share is not or distribution will not have increased so much.
Pankaj Jain
It is increasing. Okay. So it is more than 10%. And okay. The number of counters have increased also.
Sahil Doshi
Okay. And where do you see this? Like for the next one to two years this will. This should be a continued journey for the next two to three years.
Hemant P. Jain
Yes, it’s continued.
Sahil Doshi
Perfect. Sir, thank you so much and best wish to your team, sir. Thank you.
Hemant P. Jain
Thank you.
operator
Thank you. The next question is from the line of Rasham Mehta from Green Edge Wealth. Please go ahead.
Resham Mehta
Yeah, thank you. Congrats for a good set of numbers. Just two questions. One is, you know, what is our repeat purchase rate from our EBOS. Retail channel? Specifically customer loyalty. A customer supposing, you know, so let’s say within the next one year or kidney bar purchase.
Pankaj Jain
Okay. I don’t have the number on hand right now. Okay. But we can take this question offline. Okay, I’ll get back to you. Okay. My team already has it but I have not sat with that number right now.
Resham Mehta
Sure, sure, sure. Maybe if you can share it offline, that would be great. And the second one is, you know, we’ve fixed our positioning and you know, merchandise, etc. A bunch of things, you know, for integrity lawmen. Right. They can easy abibi as a lagra. You know it is in a no man’s land from a consumer perception. You know, there is no real differentiation between let’s say an easys or an Integrity brand. So what is the you know reason to keep the brand alive or you know will we axe the brand Just any thoughts there? Because eventually yes. Capital in the form of working capital capital to block.
Pankaj Jain
So every brand was launched with a particular brand positioning and the scenarios as they were prevailing in the market. It was in the 2000 it was brought in when competition to some of the brands. Yes, definitely you are right. That okay. That okay. It looks okay somewhere left over within the company itself. Okay. We have. We are not fighting all over. We have choosing a boss so which we feel that okay. The one which we could achieve faster is what we have contributed now definitely there’ll be. I feel okay. ECS does have much scope to improve on.
Okay maybe we’ll reposition the brand strategy for it but that’s going to happen from maybe the second year. Not this year.
Resham Mehta
But let’s say Agar brand perform Kara real differentiation. Do we still want to you know aren’t we open to you know doing.
Pankaj Jain
Away with a brand even on the business perspectively. Okay. The EBITDA margins or the total margins are positive for all the brands. Rashmi. It’s positive for all the brands. Even for easy.
Resham Mehta
Fair enough. Fair enough. Always. Thank you so much.
operator
Thank you. Ladies and gentlemen. As there are no further questions from the participants I would now like to hand the conference over to Mr. Heman Jain for closing comments. Over to you, sir.
Hemant P. Jain
Thank you once again for joining us today. We truly value your continued support and confidence in KKCL journey. Should you have any further question, please feel free to reach out to our investor relation team. Thank you and have a great day ahead. Thank you so much.
operator
Thank you. On behalf of Cable Kiran Clothing Ltd. That concludes this conference. Thank you for joining us. And you may now disconnect your lines.