Khadim India Q3 FY26 Results: Revenue Down 21.8% YoY to ₹86.24 Crore
Khadim India reported Q3 FY26 revenue of ₹86.24 crore, down 21.8% YoY. Nine-month revenue (9MFY26) was ₹283.54 crore, down 12.5%. EBITDA margin for Q3 FY26 stood at 12.8%, and PAT was ₹1.65 crore. The company emphasizes its asset-light franchise model and extensive retail network.
The decrease in revenue and profit, while significant, is presented within the context of an investor presentation, suggesting it's a routine update on financial performance rather than an unexpected crisis. The impact is medium as it affects the company's financial health.
The company's revenue and profit figures for Q3 FY26 and 9MFY26 show a year-on-year decline, indicating a negative financial performance.
Khadim India Limited has presented its investor presentation for the third quarter and nine months ended December 31, 2025. The company reported a revenue of ₹86.24 crore (₹862.4 million) for Q3 FY26, marking a year-on-year decrease of 21.8%. For the nine-month period (9MFY26), revenues stood at ₹283.54 crore (₹2,835.4 million), down 12.5% year-on-year.
The gross profit for the quarter was ₹43.07 crore (₹430.7 million), with a gross margin of 49.9%, a decrease of 280 basis points year-on-year. For 9MFY26, the gross profit was ₹136.57 crore (₹1,365.7 million) and the gross margin was 48.2%, down 490 basis points year-on-year.
EBITDA before exceptional items for Q3 FY26 was ₹11.08 crore (₹110.8 million), a sequential decrease of 19.7%, resulting in an EBITDA margin of 12.8%. For 9MFY26, EBITDA was ₹37.20 crore (₹372.0 million) with an EBITDA margin of 13.1%.
Profit after tax, adjusted for new labor codes, for the quarter stood at ₹1.65 crore (₹16.5 million), with a margin of 1.9%. For 9MFY26, this figure was ₹4.19 crore (₹41.9 million) with a margin of 1.5%. The standalone Profit and Loss statement shows a PAT of -₹0.17 crore (-₹1.7 million) for Q3 FY26, compared to ₹6.28 crore (₹62.8 million) in Q3 FY25. For 9MFY26, PAT was ₹2.37 crore (₹23.7 million) compared to ₹13.86 crore (₹138.6 million) in 9MFY25.
The company operates with an asset-light model, with 76% of its retail presence through the franchise route and 100% outsourcing of product requirements. Khadim's has 864 branded retail stores as of December 2025, with a strong presence in East India and a growing footprint in South and West India, focusing on metros and Tier I-III cities. The company targets middle and upper-middle-income consumers with a price range of ₹123 to ₹6,499 for various footwear types and accessories.
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Khadim India Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Khadim India Limited. Read the original for the full detail.