/ — Khadim India Ltd., the second largest retail footwear brand, today announced positive quarterly performance for the quarter ended June 30, 2022. The company started the new financial year with robust business development, which offers an optimistic outlook for the year as a whole.
Key Highlights:
Total sales amounted to INR 1660.73 million; Growth of 88.23% YoY on retail sales growth of 190%
Gross margin in the first quarter of fiscal 23 was 41.28% compared to 35.33% in the first quarter of fiscal 22
The EBIDTA was INR 170.85 million which is a margin of 10.3%
PBT stood at INR 45.42 million versus a loss of INR 111.3 million in the first quarter of FY22
Total New Stores Opened Across India – 25 The first quarter of this fiscal year has shown a healthy and steady recovery compared to the same quarter last year. After steady recovery over the past few quarters, the Company recorded Operating Revenue of INR 1660.73 million in Q1 FY23 versus INR 882.30 million in Q1 FY22, a strong growth of 88.23% based on 190% retail sales growth. EBIDTA for the first quarter of FY23 was INR 170.85 million compared to INR (3.62) million in the same quarter last year. The EBITA margin in Q1 FY 23 was 10.29%.
Profit Before Tax (PBT) for the first quarter of FY23 was INR 45.42 million compared to INR (111.33) million in the corresponding quarter last year.
Profit After Tax (PAT) for the first quarter of FY23 was INR 33.49 million compared to INR (108.90) million in the corresponding quarter last year.
The Company’s continued focus on key focus areas, including premiumizing the product range, expanding the brand’s retail presence with new stores, strengthening the distribution network, increasing brand visibility through omnichannel and driving data-driven consumer engagement, have resulted in revenue growth and gross margin .
Commenting on the company’s performance, Ms Namrata A Chotrani, CEO of Khadim India Ltd said: “Our Q1 performance for the new financial year demonstrates the strength and sustainability of our business approach as we continue to serve demand from our consumers. We have focused on creating fashionable yet affordable products that appeal to the whole family. We have continued our strategic expansion of retail stores through franchise networks, allowing us to achieve increasing reach for our consumers while increasing our operating margin and profitability.”
The homegrown company continues to expand its asset-light model to optimize its retail presence and underscore its dominance in the affordable fashion segment of footwear and accessories. The company continued its expansion into Tier II and Tier III locations, increasing the number of stores to 796 by the end of the first quarter.
About Khadim India Ltd:
Khadim India Ltd. started his journey in the 1960s with a small shoe shop in Chitpur, Kolkata. Khadim India Ltd. headquartered in Kolkata is engaged in the retail and distribution of shoes and accessories. Over the years, the local company has carved an identity as an ‘affordable fashion’ brand, catering to the whole family for all occasions. It is the second largest footwear retailer in India in terms of exclusive stores that retail under the Khadim brand name. It prides itself on having the largest shoe franchise network in the country. The brand enjoys the largest presence in East India and is listed among the top 3 players in South India. It is one of the emerging brands in North and West India. The company also leverages its retail network to grow aggressively in footwear distribution. Due to the company’s core business goal “fashion for everyone”, it is able to efficiently span both business areas. The company has expanded its reach into 23 states and 1 union territory with 796 retail locations and the distribution vertical has a strong network of 653 distributors. The company is listed on the National Stock Exchange and the Bombay Stock Exchange.
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