Khadim India Limited has informed the Exchange about Transcript
KHADIM · price
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Khadim India filed the transcript of its Q1 FY26 earnings call held on August 19, 2025. Revenue from operations was Rs. 957 million, gross profit Rs. 456.4 million (47.7% gross margin, down from ~53% in Q1 FY25), EBITDA Rs. 123.3 million (12.9% margin), and PAT Rs. 8.6 million (0.9% margin). The decline was driven by higher promotional discounting (discount sales rose from 18% to 33% of mix), a price cut on Khadim products (~2.5% margin hit), and weak franchisee billing. The company launched a Skechers tie-up in 10 stores from June, rolled out an athleisure segment, and is awaiting BSE/NSE approval (expected by early September) for the listing of subsidiary KSR Footwear. The retail network stands at 884 stores (207 company-owned, 677 franchisee) and 12-13 new True Franchised Model stores added Rs. 5 crore in turnover. Management guided that margins will improve sequentially in Q2 on the back of the festive season (Durga Puja, Diwali) without discounts, with gross margin expected in the 48-49% range going forward.
Soft Q1 numbers with margins under pressure from discounting are largely already in the price; the focus shifts to festive season demand recovery and a potential GST rate cut that could benefit ~70% of the portfolio priced below Rs. 1,000. Investors should watch for margin trajectory in Q2 and the KSR Footwear listing approval as near-term catalysts.