Khadim India Limited (KHADIM) AI Stock Analysis

• Market Cap: ₹4.84B
• Dividend Yield: N/A
• Average Volume (3M): 7.85K
• Price to Earnings (P/E): 91.9
• Beta (1Y): 0.70
• Revenue Growth: -16.46%
• EPS Growth: -2.33%
• Country: IN
• Employees: 780
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): 0.46
• Shares Outstanding: 18,378,382
• 10 Day Avg. Volume: 19,702
• 30 Day Avg. Volume: 7,846
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹298.00
• Price Target Upside: 13.24% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 55 Neutral
• Price Target: ₹298.00 ▲(13.24% Upside)

The overall stock score for Khadim India Limited is driven primarily by its mixed financial performance and technical analysis. While there are positive trends in cost management and equity growth, the high leverage and low net profit margins are concerning. The technical indicators suggest a potential overbought condition, which could lead to a price correction. The high P/E ratio further suggests overvaluation, making the stock less attractive from a valuation standpoint.

Khadim India Limited Business Overview & Revenue Model

Company Description

Khadim India Limited manufactures, wholesales, and retails footwear primarily under the Khadim's brand. It also provides footwear and leather accessories for men, women, and children under the British Walkers, Lazard, Turk, Adrianna, Bonito, Pro, Softouch, Sharon, Cleo, Waves, Adrianna, and Schooldays brands. As of March 31, 2021, the company operated 757 retail stores, as well as a network of 575 distributors selling to multi brand outlets in 23 states and one Union territory in India. It also exports its products. The company was formerly known as Khadim Chain Stores Limited and changed its name to Khadim India Limited in August 2005. Khadim India Limited was incorporated in 1981 and is based in Kolkata, India.

How the Company Makes Money

Khadim India Limited makes money through its extensive retail and distribution network, which forms the backbone of its revenue model. The company operates a large number of exclusive retail outlets across India, where it sells its branded footwear directly to consumers. Additionally, Khadim has a significant presence in the distribution sector, supplying its products to various multi-brand outlets and franchise partners. This dual-channel approach allows Khadim to capture a broad customer base and drive sales. Key revenue streams include direct sales from its stores, wholesale distribution to third-party retailers, and online sales through e-commerce platforms. Strategic partnerships and collaborations with franchisees further bolster its market reach, contributing to its overall earnings. The company's focus on providing value-for-money products helps maintain a loyal customer base, supporting sustainable revenue growth.

Khadim India Limited Financial Statement Overview

Summary

Khadim India Limited exhibits a mixed financial performance. Improvements in cost management and equity growth are encouraging, but low net profit margins and high leverage remain challenges. While operating cash flow is healthy, consistent growth in free cash flow is needed.

Income Statement

Khadim India Limited shows fluctuating revenue with a decline in 2025 after a rise in 2024. Gross profit margins have improved since 2023, indicating better cost management, though net profit margins remain low due to high operating expenses. EBIT and EBITDA margins show a recovering trend, yet profitability needs to be sustained for stronger performance.

Balance Sheet

The company's debt-to-equity ratio indicates significant leverage, though it has improved slightly over time. Stockholders' equity has grown, enhancing the equity ratio, which is a positive sign of increasing shareholder value. However, the company still carries substantial debt, which could pose risks in volatile market conditions.

Cash Flow

Operating cash flow has increased, reflecting improved core business operations. Free cash flow is positive and growing, but the free cash flow growth rate has been inconsistent. The cash flow generation ability relative to net income shows potential for reinvestment, yet the company needs consistent cash flow growth to support long-term investments.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2021	Dec 2021
Income Statement
Total Revenue	5.68B	4.18B	6.60B	6.15B	6.18B	5.82B
Gross Profit	2.77B	2.27B	1.24B	2.59B	1.52B	1.89B
EBITDA	784.95M	768.81M	922.15M	826.92M	228.82M	654.64M
Net Income	50.60M	50.60M	174.78M	62.78M	-329.44M	64.38M
Balance Sheet
Total Assets	7.61B	7.61B	7.35B	7.32B	6.30B	6.51B
Cash, Cash Equivalents and Short-Term Investments	131.28M	131.28M	64.30M	55.48M	12.46M	31.13M
Total Debt	2.95B	2.95B	3.10B	3.21B	2.44B	2.42B
Total Liabilities	5.10B	5.10B	5.10B	4.92B	4.30B	4.44B
Stockholders Equity	2.51B	2.51B	2.25B	2.40B	2.01B	2.08B
Cash Flow
Free Cash Flow	0.00	551.27M	243.61M	410.37M	444.17M	223.36M
Operating Cash Flow	0.00	670.68M	393.77M	514.56M	478.33M	306.12M
Investing Cash Flow	0.00	-88.78M	198.73M	-95.30M	-20.67M	-138.29M
Financing Cash Flow	0.00	-415.31M	-627.98M	-505.10M	-445.37M	-417.83M

Khadim India Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 263.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KHADIM, the sentiment is Positive. The current price of 263.15 is above the 20-day moving average (MA) of 255.26, above the 50-day MA of 260.70, and above the 200-day MA of 259.84, indicating a bullish trend. The MACD of 6.59 indicates Negative momentum. The RSI at 52.01 is Neutral, neither overbought nor oversold. The STOCH value of 56.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KHADIM.

Khadim India Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LGBBROSLTD	75 Outperform	₹44.97B	14.73	15.86%	1.42%	11.99%	6.85%
BATAINDIA	65 Neutral	₹150.06B	71.94	21.00%	0.77%	0.60%	-36.73%
RELAXO	60 Neutral	₹107.21B	61.31	8.12%	0.70%	-7.78%	-7.25%
KHADIM	55 Neutral	₹4.84B	91.86	―	―	-16.46%	-2.33%
LANDMARK	53 Neutral	₹24.99B	126.90	2.88%	0.08%	24.21%	-62.82%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Khadim India Limited Corporate Events

Khadim India Limited Announces Resignation of Internal Auditor

Khadim India Limited has announced the resignation of its Internal Auditor, Mr. Roshan Jaiswal, effective from the close of business on August 16, 2025. This change is part of the company’s compliance with the Securities and Exchange Board of India (SEBI) regulations, ensuring transparency and proper disclosure of corporate governance matters.