Khadim India records 190% growth in Retail Sales in Q1 FY 23
KOLKATA, India, Aug. 10, 2022 /PRNewswire/ — Khadim India Ltd., the second largest retail footwear brand, today announced a positive quarterly performance for the quarter ended 30th June 2022. The company has started the new fiscal with a robust business performance providing an optimistic outlook for the entire year.
Key Highlights:
- Total Revenue clocked INR 1660.73 millions; y-o-y growth of 88.23% on the back of retail sales growth of 190%
- Gross Margin in Q1FY23 stood at 41.28 % vs 35.33% in Q1FY22
- EBIDTA stood at INR 170.85 millions representing 10.3% margin
- PBT stood at INR 45.42 millions vs loss of INR 111.3 millions in Q1 FY 22
- Total new stores opened pan India- 25
The first quarter of this fiscal has showcased a healthy and consistent recovery in comparison to the same corresponding quarter last year. Following the consistent recovery in the last couple of quarters, the Company posted an operational revenue of INR 1660.73 millions in Q1FY23 as against the INR 882.30 millions in Q1FY22, showcasing a strong growth of 88.23 % on the back of retail sales growth of 190%. The EBIDTA in Q1FY23 stood at INR 170.85 millions compared to INR (3.62) millions in the same quarter of last year. The EBIDTA margin stood at 10.29% in Q1 FY 23.
The Profit Before Tax (PBT) stood at INR 45.42 millions for Q1FY23, as compared to INR (111.33) millions in the corresponding quarter of last year.
The Profit After Tax (PAT) stood at INR 33.49 millions for Q1FY23, as compared to INR (108.90) millions in the corresponding quarter of last year.
The Company’s constant focus on key thrust areas that includes premiumisation of the product range, expanding the brand’s retail footprint through new stores, strengthening the distribution network, increasing the brand’s presence through omni- channel and driving data driven consumer engagement have led to growth in revenue and gross margin.
Commenting on the Company’s performance Ms. Namrata A Chotrani, CEO, Khadim India Ltd. said “Our Q1 performance for the new fiscal demonstrates the strength and sustenance of our business approach as we continue to serve the demand from our consumers. We have focussed on creating fashionable yet affordable products which appeal to the entire family. We have continued our strategic expansion of retail stores through franchise networks which allow us to get incremental reach for our consumers while enabling us to magnify our operating margin and profitability.”
The home grown Company continues its asset light model expansion to optimise its retail presence to mark its dominance in the affordable fashion segment of footwear & accessories. The Company continued its expansion in the Tier II & III locations taking the store tally to 796 till the end of the first quarter.
About Khadim India Ltd:
Khadim India Ltd., started its journey in 1960s from small shoe store in Chitpur, Kolkata. Headquartered in Kolkata, Khadim India Ltd. is engaged in the retail and distribution of footwear and accessories. Over the years the home grown Company has established an identity as an ‘affordable fashion’ brand, catering to the entire family for all occasions. It is the second largest footwear retailer in India in terms of exclusive stores operating under the brand name Khadim through the retail vertical. It prides itself to have the largest footwear franchisee network in the country. The brand enjoys largest presence in East India and is listed among the top three players in South India. It is one of the emerging brand in the North and West India. The Company is also capitalising on its retail network to grow aggressively in footwear distribution. Owing to the Company’s core business objective of ‘Fashion for Everyone’ it is able to straddle both the businesses efficiently. The Company has expanded its reach across 23 States and 1 Union Territory through 796 retail stores and the distribution vertical has a strong network of 653 distributors. The Company is listed on the National Stock Exchange and Bombay Stock Exchange.
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