Fri, 01 Dec 2023

Kolkata (West Bengal) [India], November 16 (ANI/PRNewswire): Khadim India Ltd., the second largest retail footwear brand, announced their financial performance for the quarter ended 30th September 2022. The Company saw increased demand for its products riding on the festive season resulting in the brand continuing its healthy business performance during the quarter.

Key Highlights for Q2 FY 23 ( July -Sept'22)

- Revenue from operation stood at Rs 1860.33 million clocking a growth of 15 per cent over the corresponding quarter of last fiscal

- Earnings Before Interest, Tax, Depreciation, & Amortization ( EBIDTA) for the quarter stood at Rs 222.8 million; growth of 63 per cent over the corresponding quarter of last fiscal

- EBITDA Margin at 11.98 per cent. Highest ever in the history of the company.

- Profit Before Tax (PBT) stood at Rs 71.85 million;

- Profit After Tax (PAT) stood at Rs 50.23 million

- New Stores Added Pan India - 33

Key Highlights for H1 FY 23 ( April -Sept'22)

- Revenue from operation stood at Rs 3521.06 million recording a growth of 41 per cent

- Earnings Before Interest, Tax, Depreciation, & Amortization ( EBIDTA) for H1 stood at Rs 393.66 million; growth of 195 per cent over the corresponding period of last fiscal

- Profit Before Tax (PBT) stood at Rs 117.27 million

- Profit After Tax (PAT) stood at Rs 83.72 million

- New Stores Opened Pan India - 58

The Company's continued focus on creating affordable premium products to meet consumer demand, increasing brand footprint by scaling up retail presence and distribution focus have been instrumental in delivering results. Coupled with the trinity of refreshed in store experience, new fashionable range of products and the affordable price point Khadim continues to win consumer hearts and is on its way to become the first choice footwear brand for the family.

Commenting on the Company's results, Namrata A Chotrani, CEO, Khadim India Ltd. said, "The first festive season without the long shadow of the pandemic saw buoyant consumers with a propensity to spend higher than average. This has stimulated the business growth and helped us record a healthy number this quarter. Our premium product portfolio with affordable pricing has received significant consumer response, we will continue to build on the same which will appeal to our target audience. We are continuing the expansion of our retail stores that enable us to penetrate in our target markets to equip the people with affordable fashion footwear and continue our growth momentum. We hope to become the first choice footwear brand for the family and continue delighting our consumers with the WOW experience. "

The home grown Company continues its expansion in the Tier II & III locations through its asset light strategy taking the store tally to 826 till the end of the second quarter.

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 826 retail stores and the distribution vertical has a strong network of 672 distributors. The Company is listed on the National Stock Exchange and Bombay Stock Exchange.

This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

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