MarketFriction

Khadim India Ltd

NSE KHADIM · BSE 540775 · Footwear
₹113.40 -0.67%
NSE close2026-10-01
52 week range77.47 - 279.55
Market cap₹212 Cr.
P/E47.1
IPO 2017 · -85% since ESM Price band 2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales157.09156.2093.55104.10160.58110.2493.8095.70101.6086.2483.5677.84
Expenses139.43137.9973.4086.66141.2694.1877.8083.3787.8175.1771.6570.02
Operating Profit17.6618.2120.1517.4419.3216.0616.0012.3313.7911.0711.917.82
OPM %11.24%11.66%21.54%16.75%12.03%14.57%17.06%12.88%13.57%12.84%14.25%10.05%
Other Income2.601.78-3.96-2.631.84-0.79-1.542.521.861.972.615.83
Interest7.827.547.016.427.586.156.036.606.696.476.486.36
Depreciation10.299.986.987.2810.377.286.826.776.716.756.576.58
Profit before tax2.152.472.201.113.211.841.611.482.25-0.181.470.71
Tax %16.74%26.32%52.27%41.44%26.48%36.41%37.27%41.89%25.78%-5.56%47.62%26.76%
Net Profit1.791.831.050.662.361.171.010.861.68-0.170.770.52
EPS in Rs0.991.020.580.361.280.640.550.470.91-0.090.420.28
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales535611749799772626591660426418367349
Expenses482544670740737619540586351348314305
Operating Profit53677959357517575705445
OPM %10%11%10%7%4.5%1.1%9%11%18%17%15%13%
Other Income44866161417-9-4812
Interest151514143327243128293026
Depreciation161616184239343828292727
Profit before tax26415733-34-4382310854
Tax %2%24%33%36%-8%-24%17%22%38%34%38%
Net Profit25313821-31-336186533
EPS in Rs14.5917.7121.0611.76-17.34-18.293.599.733.492.831.711.52
Dividend Payout %0%0%5%8%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-4%-10%-18%-24%
Compounded Profit Growth-16%17%-34%-70%
Stock Price CAGR%-9%-24%-55%
Return on Equity3%4%2%2%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital171717181818181818181818
Reserves112137167251270216183190207222233149
Borrowings13311410968109287244242310321295249
Other Liabilities8384112153153178185201200171214130
Total Liabilities346352405490550698630651735732761547
Fixed Assets149144121126132277230201244244226155
CWIP213121111000
Investments010000000000
Other Assets195207281362416421400449491488535392
Total Assets346352405490550698630651735732761547
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity50503114-1157483139526726
Cash from Investing Activity-11-11-19-6-15-15-2-1420-10-95
Cash from Financing Activity-34-34-1340-17-26-45-42-63-51-42-43
Net Cash Flow55-148-43161-25-4-917-12
Free Cash Flow4141135-3541452249425516
CFO/OP446%100%60%38%11%171%671%58%51%70%96%52%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1924466261567082104158193185
Inventory Days13311011299114126169165172341415251
Days Payable67628810297118200177172275377220
Cash Conversion Cycle8572706078653970103225231216
Working Capital Days-23-1274349253038569911887
ROCE %15%20%22%13%-0%-3%8%10%10%9%8%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters60.28%60.28%60.64%60.09%59.83%59.83%59.83%59.86%59.86%59.86%59.88%59.89%
FIIs0.00%0.01%0.10%0.02%0.00%0.00%0.02%0.00%0.01%0.31%1.06%0.12%
DIIs5.67%6.37%6.66%6.77%6.55%6.34%5.77%5.18%3.21%2.55%1.31%1.14%
Public34.06%33.35%32.60%33.13%33.62%33.83%34.38%34.97%36.92%37.28%37.76%38.85%
No. of Shareholders38,77036,78934,85533,90533,46232,59532,04432,33433,75234,05534,64034,131

Fundamentals

Market Cap₹ 212 Cr.
Current Price₹ 116
Stock P/E47.1
Book Value₹ 90.8
ROCE7.79 %
ROE2.13 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-24%
Compounded Profit Growth (TTM)-70%
Standalone figures.
Valuation
Market capRs 208 Cr
Enterprise valueRs 447 Cr
P/E (TTM)74.43x
Price to book1.25x
Price to sales0.60x
EV / EBITDA7.86x
EV / EBIT14.78x
EV / sales1.28x
Price to cash flow8.10x
Earnings yield1.34%
P/E, 3-year average68.02x
P/B, 3-year average1.52x
P/E, 5-year average54.23x
P/B, 5-year average1.47x
Profitability
Operating margin (excl. other income)14.59%
Operating margin (incl. other income)16.89%
EBITDA margin16.28%
Pre-tax margin1.22%
Net profit margin0.80%
Net margin, latest quarter0.67%
ROE1.50%
ROCE7.31%
ROA0.48%
ROE, 3-year average2.11%
ROCE, 3-year average7.02%
ROA, 3-year average0.68%
ROE, 5-year average3.52%
ROCE, 5-year average7.83%
ROA, 5-year average1.11%
ROIC (approx.)4.65%
Tax rate37.57%
Other income / net worth5.06%
Growth
Sales growth (latest year)-12.18%
Profit growth (latest year)-39.62%
Sales CAGR, 3 years-17.77%
Sales CAGR, 5 years-10.13%
Profit CAGR, 3 years-43.61%
Sales growth QoQ-6.85%
Profit growth QoQ-32.47%
Sales growth YoY (latest quarter)-18.66%
Profit growth YoY (latest quarter)-39.53%
Per share
EPS (TTM)Rs 1.52
EPS (latest year)Rs 1.71
EPS (latest quarter)Rs 0.28
EPS, 3-year averageRs 2.67
EPS, 5-year averageRs 4.27
Book value per shareRs 90.93
Sales per shareRs 190.03
Cash flow per shareRs 13.99
Free cash flow per shareRs 8.71
Efficiency
Asset turnover0.67x
Fixed asset turnover2.38x
Inventory turnover1.57x
Inventory days232 days
Debtor days185 days
Debtors turnover1.97x
Creditor days220 days
Cash conversion cycle216 days
Working capital days87 days
Leverage
Total debtRs 249 Cr
Cash and bankRs 10 Cr
Net debtRs 239 Cr
Debt to equity1.49x
Net debt / EBITDA4.20x
Interest coverage1.16x
Owners' fund to total sources30.57%
Debt to assets45.57%
Cash flow
Cash from Operating Activity (latest year)Rs 26 Cr
Cash from Investing Activity (latest year)Rs 5 Cr
Cash from Financing Activity (latest year)Rs -43 Cr
Net Cash Flow (latest year)Rs -12 Cr
Free cash flow (latest year)Rs 16 Cr
FCFE (approx.: FCF + change in debt)Rs -30 Cr
Cash from ops / profit, 5 years5.66x
Sales to cash flow14.27x
Statement figures
Net sales (TTM)Rs 349 Cr
Net sales (latest year)Rs 367 Cr
Sales (latest quarter)Rs 78 Cr
Operating profit excl. other income (latest year)Rs 54 Cr
Operating profit (latest quarter)Rs 8 Cr
Other income (TTM)Rs 12 Cr
EBITDA (TTM)Rs 57 Cr
PBDT (TTM)Rs 31 Cr
Profit before tax (TTM)Rs 4 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 3 Cr
Net profit (latest year)Rs 3 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 27 Cr
Depreciation (latest quarter)Rs 7 Cr
Interest (TTM)Rs 26 Cr
Cost of goods sold (latest year)Rs 203 Cr
Total expenditure (latest year)Rs 314 Cr
Total income (latest year)Rs 376 Cr
Share capitalRs 18 Cr
ReservesRs 149 Cr
Shareholders' fundsRs 167 Cr
Total assetsRs 547 Cr
Net blockRs 155 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 0 Cr
ReceivablesRs 186 Cr
InventoryRs 129 Cr
Other liabilitiesRs 130 Cr
Shares outstanding (crore)1.84
Ownership
Promoter holding59.89% (+0.03 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 74.4 is at the 70th percentile of its own 7.0-year range (median 43.8, low 6.7, high 126.2).
P/B 1.25 is at the 23th percentile (median 2.11).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodKHADIMNifty 50Difference
1 week-5.9%-2.8% -3.1 pts
1 month-4.3%-6.8% +2.5 pts
3 months+3.7%-7.6% +11.3 pts
6 months+44.3%+0.4% +43.9 pts
1 year-57.2%-9.9% -47.3 pts
2 years-68.9%-13.6% -55.3 pts
3 years-64.6%+14.2% -78.8 pts
5 years-50.2%+27.9% -78.1 pts

Red flags

F-score 5 of 8
explainLow interest cover Interest cover 1.2x in 2026
lookProfit leans on other income Other income was 168% of pre-tax profit in 2026
lookAuditor change Auditor change 2026-05-20: Khadim India Limited has informed the Exchange regarding Change in Auditors of the company.
lookOn NSE surveillance On NSE surveillance: ESM
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹78 Cr -18.7% vs Jun 2025. Net profit ₹1 Cr -39.5%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
Metro Brands Ltd23,77658.520.1 %
Bata India Ltd7,97345.912.7 %
Relaxo Footwears Ltd7,25739.211.2 %
Redtape Ltd6,49426.424.5 %
Campus Activewear Ltd6,42441.721.2 %
Sreeleathers Ltd67520.66.97 %
Liberty Shoes Ltd38244.87.91 %
Lehar Footwears Ltd35521.418.1 %
Brandman Retail Ltd30110.136.8 %
Sarup Industries Ltd3570.14.14 %
Marc Loire Fashions Ltd2815.612.9 %
No bulk or block deals on record.
Ex-dateActionFactor
2025-06-06Demerger
2024-09-17Annual General Meeting
2023-09-14Annual General Meeting
2022-09-15Annual General Meeting
2021-09-20 Annual General Meeting
2020-09-15 Annual General Meeting
2019-07-31 Annual General Meeting/Dividend - Re 1 Per Share
2018-08-29 Annual General Meeting/Dividend- Re 1 Per Share
DateTypeWhat it says
2026-10-01Credit RatingCredit Rating
2026-09-25AllotmentAllotment of 1022627 securities pursuant to Preferential Issue at its meeting held on September 25, 2026
2026-09-25Shareholder meetingVoting results of Annual General Meeting held on September 24, 2026
2026-09-24Shareholder meetingShareholders meeting
2026-09-24Shareholder meetingProceedings of Annual General Meeting held on September 24, 2026
2026-09-15Investor PresentationInvestor Presentation
2026-09-03General UpdatesCommunication to the Shareholders for Annual Report Web-link
2026-09-02Shareholder meetingNotice of Annual General Meeting to be held on September 24, 2026
2026-08-28General Updates45th Annual General Meeting scheduled to be held on September 24, 2026
2026-08-26LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-07Board meeting outcomeKhadim India Limited has submitted to the Exchange, the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026.
2026-08-05General UpdatesGeneral Updates relating to in-principle approval of 10,22,727 Fully Convertible Equity Share Warrants of Rs. 10/- each to be issued on Preferential b...
2026-08-01Shareholder meetingVoting results of Extraordinary General Meeting held on August 01, 2026
2026-08-01Shareholder meetingKhadim India Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on August 01, 2026
2026-08-01Shareholder meetingProceedings of Extraordinary General Meeting held on August 01, 2026
2026-07-24CorrigendumCorrigendum to Notice of Extra Ordinary General Meeting to be held on August 01, 2026
2026-07-10Shareholder meetingNotice of Extraordinary General Meeting to be held on August 01, 2026
2026-07-02Amendment to AOA/MOAThe Amendment to AOA/MOA of the company.
2026-07-02General UpdatesCorrigendum to Outcome of the Board Meeting held on July 02, 2026
2026-07-02Board meeting outcomeOutcome of Board Meeting held on July 02, 2026.
2026-07-02Board meeting outcomeFund raising
2026-06-19Concall / analyst meetSchedule of meet
2026-06-16Disclosure under SEBI TakeovSiddhartha Roy Burman has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substan...
2026-06-01Concall / analyst meetTranscript
2026-05-26Concall / analyst meetLink of Recording
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
ESM: stage 2Less than 100 unique PAN traded in previous 30 daysScrip PE is greater than 50 (4 trailing quarters)
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03