The company’s profit before tax stood at Rs. 5.12 crore and it witnessed a YoY (year over year) increase of 99% in its profit before tax in the fourth quarter
Bengaluru: Homegrown footwear company Khadim India Ltd. reported a profit after tax (PAT) of Rs. 4.31 crore for the fourth quarter (Q4) of the financial year (FY) 2023, the retailer said in a press release today. The company’s profit before tax (PBT) stood at Rs. 5.12 crore and it witnessed a YoY (year over year) increase of 99% in its PBT in the fourth quarter.
“The company has focused on expanding the reach, digital penetration, portfolio augmentation and customer focussed integrated communication approach. The cumulative approach has resulted in significant increase of sales across retail with contribution from e-commerce vertical,” said Indrajit Chaudhuri, chief financial officer of Khadim India Ltd.
“With the focus on product improvisation, expansion through all channels and enhancement of customer service through omni-channel approach, Khadim is well poised for the years to come,” he added.
Khadim India’s revenue from operations for the fourth quarter of FY23 was Rs. 159.21 crore. The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter stood at Rs. 16.40 crore with a margin of 10.30%. Also, the brand added 18 new stores across the country in Q4 FY23.
The footwear company also announced its financial results for the twelve months ended 31 March of the fiscal year 2023. Profit after tax (PAT) stood at Rs. 17.51 crore registering a YoY growth of 171.06% in 12M FY23 while profit before tax (PBT) stood at Rs. 22.57 crore with a growth of 190.40% over the last year.
The company’s revenues from operations for the twelve months ended 31 March 2023 was Rs. 660.26 crore recording a growth of 11.70%. Also, its EBITDA for 12M FY23 stood at Rs. 72.52 crore with a growth of 51.71% over the corresponding period of the last fiscal. EBITDA for FY23 stood at 10.98% in comparison to 8.09% in FY22. The retailer opened 73 new stores in 12M FY23.
The asset-light model expansion strategy of the company continues to strengthen its retail presence in the target markets and tier II and tier III locations, the release added.
Headquartered in Kolkata, Khadim India Ltd. was founded in the 1960s and opened its first shoe store in Chitpur, Kolkata. The company is engaged in the retail and distribution of footwear and accessories. Since its launch, the footwear retailer has expanded its reach across 23 states and 1 union territory through 846 retail stores and its distribution vertical has a network of 700 distributors.
