Khadim India Ltd

Khadim India Ltd

₹ 371 0.50%
27 Feb 2:47 p.m.
About

Khadim’s, established in 1981 as S.N. Footwear Industries Private Limited was involved in the whole-selling and distribution of branded basic utility footwear. From 1993, it forayed into retailing and emerged as a popular fashion footwear brand. Its business objective is ‘Fashion for Everyone’, and it has an identity as an ‘affordable fashion brand. [1]

Key Points

Brand Reputation
It is the 2nd largest footwear retailer in India. It has the largest presence in East India and is one of the top 3 players in South India. It is also the largest footwear retail franchise network in India.[1]

  • Market Cap 667 Cr.
  • Current Price 371
  • High / Low 425 / 175
  • Stock P/E 69.7
  • Book Value 127
  • Dividend Yield 0.00 %
  • ROCE 10.4 %
  • ROE 7.15 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 2.92 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -2.48% over past five years.
  • Company has a low return on equity of -1.10% over last 3 years.
  • Debtor days have increased from 85.4 to 104 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
174.08 269.95 88.23 161.65 185.04 156.16 166.07 186.03 148.95 159.21 157.98 157.09 156.20
158.92 255.84 88.60 147.96 163.43 143.29 148.98 163.75 132.20 142.80 139.70 139.43 137.99
Operating Profit 15.16 14.11 -0.37 13.69 21.61 12.87 17.09 22.28 16.75 16.41 18.28 17.66 18.21
OPM % 8.71% 5.23% -0.42% 8.47% 11.68% 8.24% 10.29% 11.98% 11.25% 10.31% 11.57% 11.24% 11.66%
3.95 3.52 3.87 6.71 2.59 3.11 2.29 2.24 6.41 6.53 1.53 2.60 1.78
Interest 6.09 5.95 5.47 5.57 5.99 5.70 6.30 7.55 7.30 7.91 7.49 7.82 7.54
Depreciation 9.52 9.23 9.17 8.63 8.08 7.71 8.54 9.79 10.14 9.91 10.10 10.29 9.98
Profit before tax 3.50 2.45 -11.14 6.20 10.13 2.57 4.54 7.18 5.72 5.12 2.22 2.15 2.47
Tax % -26.86% -371.02% 2.15% -4.52% 19.05% -3.89% 26.21% 30.08% 15.73% 15.82% 25.68% 16.74% 26.32%
4.44 11.55 -10.89 6.48 8.20 2.67 3.35 5.02 4.82 4.31 1.65 1.79 1.83
EPS in Rs 2.47 6.43 -6.06 3.61 4.56 1.49 1.86 2.79 2.68 2.40 0.92 1.00 1.02
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
359 460 535 611 749 799 772 626 591 660 630
321 448 482 544 670 740 737 619 540 586 560
Operating Profit 38 12 53 67 79 59 35 7 51 75 71
OPM % 11% 3% 10% 11% 10% 7% 5% 1% 9% 11% 11%
3 7 4 4 8 6 6 16 14 17 12
Interest 17 19 15 15 14 14 33 27 24 31 31
Depreciation 7 19 16 16 16 18 42 39 34 38 40
Profit before tax 17 -19 26 41 57 33 -34 -43 8 23 12
Tax % 34% 2% 2% 24% 33% 36% 8% 24% 17% 22%
11 -19 25 31 38 21 -31 -33 6 18 10
EPS in Rs 9.04 -10.79 14.59 17.71 21.10 11.78 -17.37 -18.32 3.59 9.74 5.34
Dividend Payout % 11% 0% 0% 0% 5% 8% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -2%
3 Years: -5%
TTM: -4%
Compounded Profit Growth
10 Years: %
5 Years: -16%
3 Years: 36%
TTM: -40%
Stock Price CAGR
10 Years: %
5 Years: 0%
3 Years: 31%
1 Year: 97%
Return on Equity
10 Years: %
5 Years: -1%
3 Years: -1%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 12 17 17 17 18 18 18 18 18 18 18
Reserves 84 112 137 167 251 270 216 183 190 207 211
163 133 114 109 68 109 287 244 242 310 325
91 83 84 112 153 153 178 185 201 200 230
Total Liabilities 350 346 352 405 490 550 698 630 651 735 784
123 149 144 121 126 132 277 230 201 244 248
CWIP 23 2 1 3 1 2 1 1 1 1 0
Investments 3 0 1 0 0 0 0 0 0 0 0
201 195 207 281 362 416 421 400 449 491 535
Total Assets 350 346 352 405 490 550 698 630 651 735 784

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
50 50 31 14 -11 57 48 31 39
-11 -11 -19 -6 -15 -15 -2 -14 20
-34 -34 -13 40 -17 -26 -45 -42 -63
Net Cash Flow 5 5 -1 48 -43 16 1 -25 -4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 16 19 24 46 62 61 56 70 82 104
Inventory Days 179 133 110 112 99 114 126 169 165 172
Days Payable 85 67 62 88 102 97 118 200 177 172
Cash Conversion Cycle 110 85 72 70 60 78 65 39 70 103
Working Capital Days 83 61 54 69 77 99 90 90 117 128
ROCE % 15% 20% 22% 13% -0% -3% 8% 10%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
61.07% 61.07% 59.92% 59.86% 60.26% 60.27% 60.28% 60.28% 60.28% 60.28% 60.28% 60.28%
0.04% 0.00% 0.00% 0.22% 0.17% 0.00% 0.06% 0.00% 0.01% 0.00% 0.00% 0.01%
15.25% 14.63% 13.89% 9.47% 9.05% 8.66% 8.21% 6.60% 6.24% 5.87% 5.67% 6.37%
23.64% 24.29% 26.20% 30.45% 30.52% 31.07% 31.46% 33.12% 33.48% 33.86% 34.06% 33.35%
No. of Shareholders 41,86843,43843,98941,77140,88941,49539,83639,54139,27239,11238,77036,789

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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