{"id":294405,"date":"2026-10-08T11:42:34","date_gmt":"2026-10-08T06:12:34","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=294405"},"modified":"2026-10-08T11:42:34","modified_gmt":"2026-10-08T06:12:34","slug":"innerwear-and-apparel-brand-stocks-strong-roadmap","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/","title":{"rendered":"3 Innerwear and Apparel Brand Stocks With a Strong Future Roadmap: Kewal Kiran Clothing, Dollar Industries and Rupa &#038; Company"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Kewal Kiran Rs 475.55, P\/E 18.21. Dollar Industries Rs 278.95, P\/E 14.17. Rupa Rs 127.62, P\/E 13.53. Closing prices of 7 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Innerwear and apparel brand stocks with the clearest long-term roadmaps today include Kewal Kiran Clothing in apparel brands led by Killer jeans, Dollar Industries in innerwear, thermal wear and casual wear and Rupa &#038; Company in innerwear brands such as Rupa and Jon. FY26 revenue growth was 17.5% at Kewal Kiran, 9.9% at Dollar Industries and 2.0% at Rupa. P\/E stands at 18.21 for Kewal Kiran (industry 36.01), 14.17 for Dollar Industries (industry 36.01) and 13.53 for Rupa (industry 31.60). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Innerwear and apparel brand stocks give investors exposure to makers of jeans, innerwear and thermal wear sold through dealers and stores. Results depend on volumes, cotton prices and dealer reach, which is why brand strength matters as much as headline growth.<\/p>\n<p>This list covers three branded apparel stocks: Kewal Kiran Clothing for apparel brands led by Killer jeans, Dollar Industries for innerwear, thermal wear and casual wear and Rupa &#038; Company for innerwear brands such as Rupa and Jon. Every figure comes from the latest reported financials and the 7 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=innerwear-and-apparel-brand-stocks-strong-roadmap\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#What_Are_Innerwear_and_Apparel_Brand_Stocks\" title=\"What Are Innerwear and Apparel Brand Stocks?\">What Are Innerwear and Apparel Brand Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Innerwear_and_Apparel_Brand_Stocks_at_a_Glance\" title=\"Innerwear and Apparel Brand Stocks at a Glance\">Innerwear and Apparel Brand Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Why_Do_Innerwear_and_Apparel_Brand_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Innerwear and Apparel Brand Stocks Have a Strong Roadmap in India?\">Why Do Innerwear and Apparel Brand Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Kewal_Kiran_Clothing_Killer_Jeans_and_Apparel_Brands_Anchor_the_Roadmap\" title=\"Kewal Kiran Clothing: Killer Jeans and Apparel Brands Anchor the Roadmap\">Kewal Kiran Clothing: Killer Jeans and Apparel Brands Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Dollar_Industries_Innerwear_and_Thermal_Wear_Drive_the_Pipeline\" title=\"Dollar Industries: Innerwear and Thermal Wear Drive the Pipeline\">Dollar Industries: Innerwear and Thermal Wear Drive the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Rupa_Company_Innerwear_Brands_Build_the_Next_Leg\" title=\"Rupa &#038; Company: Innerwear Brands Build the Next Leg\">Rupa &#038; Company: Innerwear Brands Build the Next Leg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Best_Innerwear_and_Apparel_Brand_Stocks_in_India_Kewal_Kiran_vs_Dollar_Industries_vs_Rupa_on_Key_Financials\" title=\"Best Innerwear and Apparel Brand Stocks in India: Kewal Kiran vs Dollar Industries vs Rupa on Key Financials\">Best Innerwear and Apparel Brand Stocks in India: Kewal Kiran vs Dollar Industries vs Rupa on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#How_to_Evaluate_Denim_and_Innerwear_Brand_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Denim and Innerwear Brand Stocks to Buy Before You Invest\">How to Evaluate Denim and Innerwear Brand Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Risks_to_Consider_Before_Investing_in_Innerwear_and_Apparel_Brand_Stocks\" title=\"Risks to Consider Before Investing in Innerwear and Apparel Brand Stocks\">Risks to Consider Before Investing in Innerwear and Apparel Brand Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#FAQs_on_Innerwear_and_Apparel_Brand_Stocks\" title=\"FAQs on Innerwear and Apparel Brand Stocks\">FAQs on Innerwear and Apparel Brand Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Which_are_the_best_innerwear_and_apparel_brand_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best innerwear and apparel brand stocks in India with a strong roadmap?\">Which are the best innerwear and apparel brand stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Is_Kewal_Kiran_Clothing_a_good_stock_to_buy_now\" title=\"Is Kewal Kiran Clothing a good stock to buy now?\">Is Kewal Kiran Clothing a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#What_is_the_PE_ratio_of_Kewal_Kiran_Dollar_Industries_and_Rupa\" title=\"What is the P\/E ratio of Kewal Kiran, Dollar Industries and Rupa?\">What is the P\/E ratio of Kewal Kiran, Dollar Industries and Rupa?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Which_of_these_innerwear_and_apparel_brand_stocks_has_the_highest_return_on_equity\" title=\"Which of these innerwear and apparel brand stocks has the highest return on equity?\">Which of these innerwear and apparel brand stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#What_are_the_risks_of_investing_in_innerwear_and_apparel_brand_stocks\" title=\"What are the risks of investing in innerwear and apparel brand stocks?\">What are the risks of investing in innerwear and apparel brand stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#How_did_Kewal_Kiran_Dollar_Industries_and_Rupa_perform_in_Q1_FY27\" title=\"How did Kewal Kiran, Dollar Industries and Rupa perform in Q1 FY27?\">How did Kewal Kiran, Dollar Industries and Rupa perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#Do_innerwear_and_apparel_brand_stocks_pay_dividends\" title=\"Do innerwear and apparel brand stocks pay dividends?\">Do innerwear and apparel brand stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/innerwear-and-apparel-brand-stocks-strong-roadmap\/#How_can_I_invest_in_innerwear_and_apparel_brand_stocks_in_India\" title=\"How can I invest in innerwear and apparel brand stocks in India?\">How can I invest in innerwear and apparel brand stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Innerwear_and_Apparel_Brand_Stocks\"><\/span><strong>What Are Innerwear and Apparel Brand Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Innerwear and apparel brand stocks are shares of companies that make and sell branded clothing through dealers, retail stores and online channels. Results depend on volumes, cotton and yarn costs, brand pull and operating margin, so strong brands and wide distribution separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Innerwear_and_Apparel_Brand_Stocks_at_a_Glance\"><\/span><strong>Innerwear and Apparel Brand Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three innerwear and apparel brand stocks as of the 7 October 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/kkcl\/kewal-kiran-clothing-ltd-share-price-today\">Kewal Kiran Clothing<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">475.55<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,927<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.21<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">36.01<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.37%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.11<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/dollar\/dollar-industries-ltd-share-price-today\">Dollar Industries<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">278.95<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,581<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.17<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">36.01<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.32%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.31<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/rupa\/rupa-and-company-ltd-share-price-today\">Rupa &#038; Company<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">127.62<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,018<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.53<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">31.60<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.80%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.24<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among branded apparel stocks, all three trade below their industry P\/E multiples.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Innerwear_and_Apparel_Brand_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Innerwear and Apparel Brand Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Innerwear and apparel brand stocks have a strong roadmap in India because incomes are rising, branded innerwear is replacing unbranded products and organised apparel retail is spreading. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Rising incomes:<\/strong> Households spend more on branded clothing.<\/li>\n<li><strong>Shift to branded innerwear:<\/strong> Branded products replace local ones.<\/li>\n<li><strong>Wider retail reach:<\/strong> Dealers, stores and online channels extend reach.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Kewal_Kiran_Clothing_Killer_Jeans_and_Apparel_Brands_Anchor_the_Roadmap\"><\/span><strong>Kewal Kiran Clothing: Killer Jeans and Apparel Brands Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kewal Kiran&#8217;s roadmap rests on apparel brands led by Killer jeans, with a wider store network and new brands supporting sales.<\/p>\n<p>Revenue grew from Rs 624.63 crore in FY22 to Rs 1,236.53 crore in FY26, a 98.0% rise, and FY26 revenue was 17.5% higher than FY25. FY26 net profit rose 2.1% to Rs 152.29 crore. Over four years, net profit rose from Rs 81.63 crore in FY22 to Rs 152.29 crore. In Q1 FY27, revenue grew 17.9% to Rs 292.00 crore, and net profit rose 28.2% to Rs 41.00 crore. Operating margin was 21.57% in FY26 and 24.01% in Q1 FY27 against 23.71% a year earlier.<\/p>\n<p>Debt to equity is 0.11 and return on equity is 15.37%. FY26 operating cash flow was Rs 183.31 crore against capital expenditure of Rs 20.73 crore. Kewal Kiran paid a dividend of Rs 2 per share for FY26, a yield of 0.42%. At a P\/E of 18.21 against an industry P\/E of 36.01, the stock trades below its industry multiple.<\/p>\n<p>What to watch: A market cap of Rs 2,927 Cr means the share price can swing sharply.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dollar_Industries_Innerwear_and_Thermal_Wear_Drive_the_Pipeline\"><\/span><strong>Dollar Industries: Innerwear and Thermal Wear Drive the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dollar Industries&#8217; roadmap rests on innerwear, thermal wear and casual wear, with a wide distribution network and new categories supporting volumes.<\/p>\n<p>Revenue grew from Rs 1,349.07 crore in FY22 to Rs 1,885.17 crore in FY26, a 39.7% rise, and FY26 revenue was 9.9% higher than FY25. FY26 net profit rose 16.1% to Rs 107.08 crore. In Q1 FY27, revenue grew 1.5% to Rs 405.66 crore, and net profit rose 20.4% to Rs 26.25 crore. Operating margin was 11.02% in FY26 and 12.28% in Q1 FY27 against 11.10% a year earlier.<\/p>\n<p>Debt to equity is 0.31 and return on equity is 11.32%. FY26 operating cash flow was Rs 138.72 crore against capital expenditure of Rs 43.42 crore. Dollar Industries paid a dividend of Rs 3 per share for FY26, a yield of 1.08%. At a P\/E of 14.17 against an industry P\/E of 36.01, the stock trades below its industry multiple.<\/p>\n<p>What to watch: FY26 revenue growth was only 9.9%, and return on equity of 11.32% is modest.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Rupa_Company_Innerwear_Brands_Build_the_Next_Leg\"><\/span><strong>Rupa &#038; Company: Innerwear Brands Build the Next Leg<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Rupa&#8217;s roadmap rests on innerwear brands such as Rupa and Jon, with a large dealer network and new product ranges supporting volumes.<\/p>\n<p>FY26 revenue was Rs 1,281.96 crore, 2.0% higher than FY25. FY26 net profit fell 13.0% to Rs 72.49 crore. In Q1 FY27, revenue grew 9.8% to Rs 207.82 crore, and net profit rose 49.6% to Rs 8.26 crore. Operating margin was 10.57% in FY26 and 10.52% in Q1 FY27 against 8.76% a year earlier.<\/p>\n<p>Debt to equity is 0.24 and return on equity is 6.80%. FY26 operating cash flow was Rs 45.27 crore against capital expenditure of Rs 8.08 crore. Rupa paid a dividend of Rs 3 per share for FY26, a yield of 2.35%. At a P\/E of 13.53 against an industry P\/E of 31.60, the stock trades below its industry multiple.<\/p>\n<p>What to watch: FY26 revenue growth was only 2.0%, and return on equity of 6.80% is modest. FY26 net profit was 13.0% lower than FY25.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Innerwear_and_Apparel_Brand_Stocks_in_India_Kewal_Kiran_vs_Dollar_Industries_vs_Rupa_on_Key_Financials\"><\/span><strong>Best Innerwear and Apparel Brand Stocks in India: Kewal Kiran vs Dollar Industries vs Rupa on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best innerwear and apparel brand stocks in India, Kewal Kiran leads on FY26 operating margin and Q1 FY27 revenue growth; Rupa leads on the lowest P\/E. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Kewal Kiran<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Dollar Industries<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Rupa<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,236.53<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,885.17<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,281.96<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">152.29<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">107.08<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">72.49<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">-13.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating profit margin<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.57%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.02%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.57%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 net profit growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">28.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.4%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">49.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.37%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.32%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.80%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.21<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.17<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.53<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.11<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.31<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.24<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.42%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.08%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.35%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating cash flow (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">183.31<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">138.72<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">45.27<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Apparel earnings follow volumes and cotton prices, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Denim_and_Innerwear_Brand_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Denim and Innerwear Brand Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen innerwear and apparel brand stocks and shortlist denim and innerwear brand stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which differs by stock.<\/li>\n<li>Track operating margin across several quarters, because input costs can move faster than prices.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read operating cash flow against capital expenditure to see how growth is funded.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these innerwear and apparel brand stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Innerwear_and_Apparel_Brand_Stocks\"><\/span><strong>Risks to Consider Before Investing in Innerwear and Apparel Brand Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Profit dip:<\/strong> Rupa&#8217;s FY26 net profit was 13.0% lower than FY25.<\/li>\n<li><strong>Slow growth:<\/strong> Kewal Kiran&#8217;s FY26 net profit grew only about 2%.<\/li>\n<li><strong>Low returns:<\/strong> Rupa&#8217;s ROE is 6.80%.<\/li>\n<li><strong>Discretionary spending:<\/strong> Apparel sales slow when household budgets tighten.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Kewal Kiran, Dollar Industries and Rupa live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three denim and innerwear brand stocks cover jeans and apparel brands, innerwear and thermal wear, and innerwear brands. Kewal Kiran leads on FY26 operating margin and Q1 FY27 revenue growth; Rupa leads on the lowest P\/E.<\/p>\n<p>Across branded apparel stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the denim and innerwear brand stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Innerwear_and_Apparel_Brand_Stocks\"><\/span><strong>FAQs on Innerwear and Apparel Brand Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_innerwear_and_apparel_brand_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best innerwear and apparel brand stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Kewal Kiran Clothing, Dollar Industries and Rupa &#038; Company stand out for their roadmaps in jeans, innerwear and thermal wear. FY26 revenue growth was 17.5% at Kewal Kiran, 9.9% at Dollar Industries and 2.0% at Rupa, and return on equity ranges from 6.80% to 15.37%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Kewal_Kiran_Clothing_a_good_stock_to_buy_now\"><\/span><strong>Is Kewal Kiran Clothing a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Kewal Kiran Clothing has a debt to equity ratio of 0.11, a return on equity of 15.37% and a P\/E of 18.21 against an industry P\/E of 36.01. Profit dips, slow growth and low returns move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Kewal_Kiran_Dollar_Industries_and_Rupa\"><\/span><strong>What is the P\/E ratio of Kewal Kiran, Dollar Industries and Rupa?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 18.21 for Kewal Kiran (industry 36.01), 14.17 for Dollar Industries (industry 36.01) and 13.53 for Rupa (industry 31.60). All three trade below the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_innerwear_and_apparel_brand_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these innerwear and apparel brand stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Kewal Kiran Clothing has the highest return on equity at 15.37%, followed by Dollar Industries at 11.32% and Rupa &#038; Company at 6.80%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_innerwear_and_apparel_brand_stocks\"><\/span><strong>What are the risks of investing in innerwear and apparel brand stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are a profit dip at one firm, slow profit growth at another, a low return on equity and weaker discretionary spending. Rupa&#8217;s FY26 net profit was 13.0% lower than FY25.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Kewal_Kiran_Dollar_Industries_and_Rupa_perform_in_Q1_FY27\"><\/span><strong>How did Kewal Kiran, Dollar Industries and Rupa perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Kewal Kiran Clothing reported revenue of Rs 292.00 crore, up 17.9% year on year, and net profit rose 28.2% to Rs 41.00 crore. Dollar Industries reported revenue of Rs 405.66 crore, up 1.5% year on year, and net profit rose 20.4% to Rs 26.25 crore. Rupa &#038; Company reported revenue of Rs 207.82 crore, up 9.8% year on year, and net profit rose 49.6% to Rs 8.26 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_innerwear_and_apparel_brand_stocks_pay_dividends\"><\/span><strong>Do innerwear and apparel brand stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Yes, all three companies pay dividends. The dividend yield is 0.42% for Kewal Kiran, 1.08% for Dollar Industries and 2.35% for Rupa, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_innerwear_and_apparel_brand_stocks_in_India\"><\/span><strong>How can I invest in innerwear and apparel brand stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy innerwear and apparel brand stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best innerwear and apparel brand stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Kewal Kiran Clothing, Dollar Industries and Rupa & Company stand out for their roadmaps in jeans, innerwear and thermal wear. FY26 revenue growth was 17.5% at Kewal Kiran, 9.9% at Dollar Industries and 2.0% at Rupa, and return on equity ranges from 6.80% to 15.37%.\"}},{\"@type\":\"Question\",\"name\":\"Is Kewal Kiran Clothing a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Kewal Kiran Clothing has a debt to equity ratio of 0.11, a return on equity of 15.37% and a P\/E of 18.21 against an industry P\/E of 36.01. Profit dips, slow growth and low returns move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.\"}},{\"@type\":\"Question\",\"name\":\"What is the P\/E ratio of Kewal Kiran, Dollar Industries and Rupa?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The P\/E ratio is 18.21 for Kewal Kiran (industry 36.01), 14.17 for Dollar Industries (industry 36.01) and 13.53 for Rupa (industry 31.60). All three trade below the industry multiple.\"}},{\"@type\":\"Question\",\"name\":\"Which of these innerwear and apparel brand stocks has the highest return on equity?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Kewal Kiran Clothing has the highest return on equity at 15.37%, followed by Dollar Industries at 11.32% and Rupa & Company at 6.80%.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in innerwear and apparel brand stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are a profit dip at one firm, slow profit growth at another, a low return on equity and weaker discretionary spending. Rupa's FY26 net profit was 13.0% lower than FY25.\"}},{\"@type\":\"Question\",\"name\":\"How did Kewal Kiran, Dollar Industries and Rupa perform in Q1 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Kewal Kiran Clothing reported revenue of Rs 292.00 crore, up 17.9% year on year, and net profit rose 28.2% to Rs 41.00 crore. Dollar Industries reported revenue of Rs 405.66 crore, up 1.5% year on year, and net profit rose 20.4% to Rs 26.25 crore. Rupa & Company reported revenue of Rs 207.82 crore, up 9.8% year on year, and net profit rose 49.6% to Rs 8.26 crore.\"}},{\"@type\":\"Question\",\"name\":\"Do innerwear and apparel brand stocks pay dividends?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Yes, all three companies pay dividends. The dividend yield is 0.42% for Kewal Kiran, 1.08% for Dollar Industries and 2.35% for Rupa, based on dividends declared for FY26.\"}},{\"@type\":\"Question\",\"name\":\"How can I invest in innerwear and apparel brand stocks in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"You can buy innerwear and apparel brand stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Kewal Kiran Clothing, Dollar Industries and Rupa &#038; Company compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":36,"featured_media":294404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[10105,10107,10104,10106,10108],"class_list":["post-294405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-denim-and-innerwear-brand-stocks","tag-dollar-industries","tag-innerwear-and-apparel-brand-stocks","tag-kewal-kiran-clothing","tag-rupa-company"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["294404"],"rank_math_title":["Innerwear and Apparel Brand Stocks: Kewal Kiran, Dollar Industrie"],"rank_math_description":["Innerwear and apparel brand stocks with a strong roadmap: Kewal Kiran Clothing, Dollar Industries and Rupa &amp; Company compared on growth, margins, valuation and risks."],"rank_math_focus_keyword":["innerwear and apparel brand stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-innerwear-and-apparel-brand-stocks-with-a-strong-future-roadmap-kewal-kiran.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/294405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=294405"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/294405\/revisions"}],"predecessor-version":[{"id":294406,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/294405\/revisions\/294406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/294404"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=294405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=294405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=294405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}