Khadim doubles sales in Q1 FY23 on the back of strong retail performance

• Khadim India reported a profit of ₹3.3 crore in Q1 FY23.
  

• The footwear company said it aims to increase its retail presence in the affordable fashion segment.
  

With a healthy and consistent recovery in comparison to the same corresponding quarter last year, Khadim, India’s second largest retail footwear brand, today announced a net profit of ₹3 crore for the quarter ended 30th June 2022.

Its consolidated revenues stood at ₹166 crore as compared to ₹88 crore in the same quarter last year, nearly doubling its sales on the back of a strong performance in the retail segment.

"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," said Namrata A Chotrani, CEO, Khadim India.

The constant focus on premiumisation of the product range, expanding the brand's retail footprint through new stores, strengthening the distribution network, increasing presence through omni-channel and data driven consumer engagement have led to growth in gross margin which went upto 48% in Q1 FY23 against 35% last year.

The overall EBITDA margin stood at 10.3% this year, recording ₹17 crore in Q1 FY23 compared to -₹36 lakh in the same quarter of last year.

Expanding its footprint

The home-grown company continues its asset light model expansion in the Tier ll & lll locations taking the store tally to 796 till the end of the first quarter.

The brand enjoys the largest presence in East India and is listed among the top three players in South India, emerging in North and West India as well.

Khadim has expanded its reach across 23 states and 1 union territory through 796 retail stores, with a strong network of 653 distributors across the country.


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