Khadim India Limited (KHADIM) Earnings Call Transcripts

Khadim India Limited's Latest Earnings Call - Q4 FY2026

Khadim India Limited reported its Q4 and FY '26 earnings, highlighting a challenging year with a 12% decline in annual revenue to INR 367.1 crores. The company faced muted consumer demand and pressure on discretionary spending, particularly in the mass and value segments. Q4 revenue was INR 83.6 crores, down from INR 93.8 crores YoY. Despite these challenges, the company maintained a gross margin of 48.9% for the year and an EBITDA margin of 13.4%. Management provided guidance for FY '27, targeting revenue of INR 400 crores and maintaining a 14% EBITDA margin, signaling cautious optimism for gradual recovery driven by premiumization and product innovation.

Reported metrics

Guidance from management

Management expects FY '27 revenue to reach INR 400 crores with a 14% EBITDA margin, maintaining cautious optimism amid uncertain demand conditions.

What management said

See, we have already -- last 2 years, we have seen degrowth, but the degrowth has come mainly there is a closure of stores. And also, there is a less push of primary sales to the franchisee. But once that this store closure has been done, so I think there will be no new further store closure. So there, also the sales will remain the same and also some correction in the EBO for not doing some primary sales will happen...

Blended gross margin has declined last year due to our -- during -- we have taken a price cut for the -- in the last 1 or 2 years, we have taken some price cut in our product less than 500. So there is -- some margin the growth has been seen. But if you see the fourth quarter margin has improved, and we'll continue with the new season product coming in, in the spring summer, where the ASP has been increased. So you'l...

What analysts pressed on

Analysts questioned the sustainability of the EBITDA margin given operating deleverage and the impact of inventory reductions on sales. Concerns were also raised about the ability to maintain gross margins amid input cost volatility.

Main topics on the call

• Revenue Decline — Revenue for FY '26 declined by 12% to INR 367.1 crores from INR 418 crores in FY '25. Q4 revenue was INR 83.6 crores, down from INR 93.8 crores in the previous year. Management attributed this to soft demand and store cl...
• Premiumization Strategy — Management emphasized a focus on premiumization, with the TFM portfolio growing 46% YoY and British Walkers growing 6% YoY. This strategy aims to support brand positioning and customer engagement.
• Inventory Management — The company reduced inventory by 40% YoY to mitigate risks, which led to some lost sales in Q4. Management plans to increase inventory strategically in FY '27.
• Operational Efficiency — Efforts to enhance franchisee engagement and optimize operating costs were highlighted. The company also completed a strategic demerger to improve operational focus.

Read the full Khadim India Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 24 Khadim India Limited earnings call transcripts on record, spanning February 11, 2020 to May 26, 2026. Based on this history, Khadim India Limited reports quarterly. The most recent call on file is dated May 26, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

KHADIM

Exchange

NSEI

Country

IN

Sector

Consumer Discretionary

Industry

Specialty Retail

Calls on record

24

First call

February 11, 2020

Most recent

May 26, 2026

Reporting cadence

quarterly