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Swing Capital

Khadim India Ltd

NSE: KHADIM BSE: 540775Retail

Incorporated in 1981, Khadim India Ltd is in manufacturing / retail business of footwear and accessories[1]

₹115
52W: ₹77.5 — ₹311
PE 22 · Book ₹90.2 · +27% vs book
Market Cap₹211 Cr
Stock P/E22Price to Earnings
ROCE9.34%Return on Capital
ROE2.2%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.

Weaknesses

  • −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 -11.5% over past five years.
  • −Company has a low return on equity of 3.96% over last 3 years.
  • −Company has high debtors of 193 days.

Shareholding Pattern

Promoters59.88%
FIIs1.06%
DIIs1.31%
Public37.76%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters60.09%59.83%▼0.359.83%59.83%59.86%▲0.059.86%59.86%59.88%▲0.0
FIIs0.02%0%▼0.00%0.02%▲0.00%▼0.00.01%▲0.00.31%▲0.31.06%▲0.8
DIIs6.77%6.55%▼0.26.34%▼0.25.77%▼0.65.18%▼0.63.21%▼2.02.55%▼0.71.31%▼1.2
Public33.13%33.62%▲0.533.83%▲0.234.38%▲0.634.97%▲0.636.92%▲2.037.28%▲0.437.76%▲0.5

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales157.09156.293.55104.1160.58110.2493.895.7101.686.24
Expenses139.43137.9973.486.66141.2694.1877.883.3787.8175.17
Operating Profit17.6618.2120.1517.4419.3216.061612.3313.7911.07
OPM %11.24%11.66%21.54%16.75%12.03%14.57%17.06%12.88%13.57%12.84%
Net Profit1.791.831.050.662.361.171.010.861.68-0.17
EPS ₹0.991.020.580.361.280.640.550.470.91-0.09

AI Insights

Revenue Trend

TTM revenue at ₹377Cr, down 9.8% YoY. OPM at 14%.

Debt Position

Borrowings at ₹255Cr. Debt-to-equity ratio: 1.72x. High leverage — monitor closely.

Institutional Flow

DIIs: 1.31% (-4.56pp change). FIIs: 1.06% (+1.06pp change). Promoters hold 59.88%.

Margin & Efficiency

ROCE improving from 0% (Mar 2012) to 9% (Mar 2025). Working capital days: 118.

Valuation

PE 22x with 9.34% ROCE. Price is 27% above book value of ₹90.2. Dividend yield: 0%.

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