Khadim India Ltd., the retail footwear brand, 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.
The first quarter of this fiscal year has showcased a healthy and consistent recovery compared to the same corresponding quarter last year. Following the consistent recovery in the previous couple of quarters, the Company posted an operational revenue of Rs 1,660.73 million in Q1FY23 as against Rs 882.30 million in Q1FY22, showcasing a strong growth of 88.23 percent on the back of retail sales growth of 190 percent. The EBIDTA in Q1FY23 stood at Rs 170.85 million compared to Rs (3.62) million in the same quarter of last year. The EBIDTA margin stood at 10.29 percent in Q1 FY 23.
The Profit Before Tax (PBT) stood at Rs 45.42 million for Q1FY23, as compared to Rs 111.33 million in the corresponding quarter of last year. The Profit After Tax (PAT) stood at Rs 33.49 million for Q1FY23, as compared to Rs 108.90 million in the corresponding quarter of last year.
The company’s constant focus on crucial thrust areas that includes premiumization of the product range, expanding the brand’s retail footprint through new stores, strengthening the distribution network, increasing the brand’s presence through omnichannel, and driving data-driven consumer engagement has led to growth in revenue and gross margin.
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 homegrown company continues its asset-light model expansion to optimize its retail presence to mark its dominance in the affordable fashion segment of footwear and accessories. The company continued its expansion in Tier II and III locations taking the store tally to 796 by the end of the first quarter.