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Khadim registers 83% sequential growth in Q2FY22 revenue

The company has achieved healthy revenue growth across both its business, retail and distribution, and significant improvement in margins for Q2FY22.

November 11, 2021 2:11 IST | India Infoline News Service
Result Analysis
Khadim, India’s leading footwear company, has demonstrated a robust recovery in the last one year. The company has announced positive quarterly performance for the quarter ended September, 2021. Revenue from operations for Q2FY22 grew by 83% QoQ and 33% YoY to INR 1616.46mn from 882.30mn in Q1FY22 and 1247.31mn in Q2FY21.

The company’s Profit after tax for Q2FY22 amounted to INR 64.75mn compared to a loss of 108.90mn in Q1FY22 and loss of 211.43mn in Q2FY21. Thus, registering a strong recovery.

Khadim India Ltd. continued to strengthen its retail presence in tier II & III cities by opening 25 new franchise stores during the second quarter despite partial lockdown, taking the overall tally to 555 franchise stores. The company has achieved healthy revenue growth across both its business, retail and distribution, and significant improvement in margins for Q2FY22.

Owing to “affordable fashion” positioning of the Brand, Khadim is able to cater to India & Bharat simultaneously. From hi-street stores in metro cities, Tier I, Tier II (through retail) to the rural general trade multi brand footwear Outlets (through distribution) – the brand has established its footprint and shelf space everywhere.

Speaking about the efforts that led to recovery, Ms. Namrata Ashok Chotrani, CEO of Khadim India said. “The past year has been a lot of hard work especially because we just came out from a rough year behind us. We have reworked our range architecture, margin and cost structures, supply chains, and become more process driven and working capital efficient along with investing in growing our human capital and deepening our relationships with our business partners. All of these changes ensured that we were able to adapt to the changing macro-economic scenario, overcome the prior business inefficiencies and achieve a turnaround despite the impact of COVID on business and economy”.

“The Novel coronavirus pandemic has been one of the biggest healthcare crises over the last century. The pandemic induced necessary lockdowns and healthcare initiatives have caused severe disruptions to the economy. Just like all other retail brands, we have also faced similar issues due to the COVID 1st and 2nd waves, but we stuck to the basics  maximise sale recovery, protect margins, reduce fixed costs, regulate working capital with strict monitoring of cash-flows. In the post COVID era, our affordable fashion positioning has resonated well with our existing and new customer base. All the hard work is paying off and we are looking forward to doing good business in coming future. This is just the beginning.” she added further. 

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