Kewal Kiran Clothing (KKC) delivered an impressive all-around performance. Volume growth outperformance (9% YoY) is likely to be one of the best in the sector. While revenue growth in jeans/trouser/t-shirts was healthy (12-15% YoY), muted performance in shirts (1% YoY) was due to winter-mix impact; higher offtake of winter wear lead top-wear.