Khadim India Q3 FY26: Revenue Drops 21.8%, Posts Net Loss of ₹0.2 Crore
Khadim India's Q3 FY26 revenue fell 21.8% to ₹86.2 crore, with a net loss of ₹0.2 crore. EBITDA dropped 31% to ₹11.1 crore. For the nine months, revenue declined 12.5% to ₹283.5 crore. The company noted positive traction with its Skechers partnership and a 9.9% growth in its British Walkers sub-brand.
The revenue decline and net loss, along with commentary on subdued demand, suggest a moderate negative impact on the company's immediate financial standing and investor sentiment.
The company reported a significant decline in revenue and a net loss for the quarter, indicating negative financial performance.
Khadim India Limited reported a challenging third quarter for FY26, with revenue from operations declining by 21.8% year-on-year to ₹86.2 crore. The company registered a net loss of ₹0.2 crore for the quarter. EBITDA stood at ₹11.1 crore, a decrease of 31%, resulting in an EBITDA margin of 12.8%.
For the nine months ended December 31, 2025, revenue from operations was ₹283.5 crore, a 12.5% decline year-on-year. EBITDA for the nine-month period was ₹37.2 crore, down 24.5%, with an EBITDA margin of 13.1%. The management attributed the decline in profit to higher employee-related costs and compliance adjustments due to the implementation of the revised Labor Code and changes in government norms.
The company highlighted a partnership with Skechers, which saw a sequential doubling of sales across pilot locations, reinforcing Khadim's strategy to strengthen its presence in premium and lifestyle footwear segments. The British Walkers sub-brand showed a healthy year-on-year growth of 9.9% in men's formal and semi-formal categories, while Sharon maintained stable performance.
As of the end of the quarter, Khadim India's retail footprint comprised 864 stores, including 195 company-owned outlets and 669 franchise-operated outlets. The company is focused on disciplined execution, prudent inventory management, and calibrated marketing initiatives to protect margins and sustain brand visibility. Looking ahead, Khadim India remains cautiously optimistic, prioritizing profitable growth through sharper product offerings, disciplined cost management, brand investments, and expansion in high-potential segments.
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