Khadim India Ltd
NSE:KHADIM
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Khadim India Ltd
NSE:KHADIM
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Khadim India Ltd
Khadim India Ltd. engages in the selling and distribution of footwear. The company is headquartered in Kolkata, West Bengal. The company went IPO on 2017-11-14. The firm is engaged in the manufacturing / retail business of footwear and accessories. The company operates through two distinct business verticals, such as retail and distribution. The company offers fashion footwear options through its range of products. The company offers premium range of products across its retail stores in the metros with its retails sub-brands like British Walker, Lazard, Cleo, Sharon, Soft Touch, Turk, Adrianna/ Pedro/ Bonito and Pro, among others. The company also has distribution network and products under the sub-brand of Wash N Wear, Kalypso, Dunford Fitnxt, Pugo, Fliers and Khadim. British Walker is a hand-crafted premium leather footwear for the working men. Lazard is a hi-fashion footwear for the young men. Cleo is a hi-fashion footwear for the young girls / women. Sharon is a footwear for the working women. Soft Touch is a soft and comfort footwear for men and women. Turk is an outdoor footwear for men.
Khadim India Ltd. engages in the selling and distribution of footwear. The company is headquartered in Kolkata, West Bengal. The company went IPO on 2017-11-14. The firm is engaged in the manufacturing / retail business of footwear and accessories. The company operates through two distinct business verticals, such as retail and distribution. The company offers fashion footwear options through its range of products. The company offers premium range of products across its retail stores in the metros with its retails sub-brands like British Walker, Lazard, Cleo, Sharon, Soft Touch, Turk, Adrianna/ Pedro/ Bonito and Pro, among others. The company also has distribution network and products under the sub-brand of Wash N Wear, Kalypso, Dunford Fitnxt, Pugo, Fliers and Khadim. British Walker is a hand-crafted premium leather footwear for the working men. Lazard is a hi-fashion footwear for the young men. Cleo is a hi-fashion footwear for the young girls / women. Sharon is a footwear for the working women. Soft Touch is a soft and comfort footwear for men and women. Turk is an outdoor footwear for men.
Revenue Decline: Khadim India reported Q3 FY '26 revenue of INR 86.2 crores, down 21.8% year-on-year, and 9M revenue of INR 283.5 crores, down 12.5%, mainly due to subdued demand, reduced inventory purchases, and store closures.
Margins Under Pressure: EBITDA for Q3 was INR 11.1 crores (down 31%), with a margin of 12.8%, and for 9M was INR 37.2 crores (down 24.5%), as gross margins compressed from higher discounting and price cuts.
Minor Loss: The company registered a small loss of INR 0.2 crore in Q3 FY '26.
Shift to Premium & Franchise: Sub-brands, now 60% of retail revenue, grew faster than the core brand, and premium brands are expected to reach 20–25% of the mix in 3–4 years. Franchise stores now make up 76% of the network, with a shift towards asset-light expansion.
Inventory & Working Capital: Inventory days improved from 131 to 117, with a target of 100–107 days; further improvement expected as debtors are addressed.
Skechers Partnership: Skechers contributed INR 1.5–2 crores in annual pilot sales across 20 stores and is planned to expand.
Outlook & Guidance: Management guided for flat volumes in FY '27, gross margins of 49–50%, EBITDA margin of 14–14.5%, and PAT margin of 2–2.5%, with further focus on cost control, e-commerce, and premium products.
