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Khadim India Limited (KHADIM) AI Stock Analysis

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IN:KHADIM

Khadim India Limited

(NSE:KHADIM)

Select Model
Rating:42Neutral
Price Target:INR 117.00▼(-4.22% Downside)
Action:reiterated
Date:08/24/26

The overall score is heavily pressured by extremely weak financial performance, including collapsing margins and cash flow. A high P/E ratio adds valuation risk, while technicals confirm a persistent downtrend with no reversal signals. The company faces significant fundamental challenges with no positive catalysts evident.

Positive Factors
Multi-channel branded footwear modelA branded footwear platform spanning exclusive retail, trade distribution, and online channels gives Khadim multiple routes to customers and revenue. Its value and mass-market focus also supports broad category coverage across men, women, and children, providing a foundation for sustained market reach.
Negative Factors
Multi-year revenue contractionPersistent revenue contraction points to weakening demand, distribution productivity, or competitive execution rather than a temporary fluctuation. A shrinking top line can reduce operating leverage, limit purchasing scale, and make it harder for Khadim to sustain investment while rebuilding growth.

Khadim India Limited (KHADIM) vs. iShares MSCI India ETF (INDA)

-70%-60%-50%-40%-30%-20%-10%0%10%IN:KHADIM-43.13%INDA-5.62%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
INR 2.24B
Dividend Yield
―
Average Volume (3M)
9,571
Price to Earnings (P/E)
60.0
Beta (1Y)
1.14
Revenue Growth
-24.25%
EPS Growth
-18.51%
Country
India
Employees
496
Sector
General
Sector Strength
55
Industry
Apparel - Footwear & Accessories

Khadim India Limited Business Overview & Revenue Model

Company Description

Khadim India Limited is primarily engaged in the manufacturing, wholesale distribution, and retail sales of footwear, largely marketed under its flagship Khadim's brand. Beyond its core offerings, the company provides a wide array of footwear and lea...

How the Company Makes Money

Khadim India Limited primarily makes money by selling footwear and related accessories under its brands through multiple distribution channels. The core revenue stream is sale of products via its own exclusive brand outlets (company-operated and, whe...

Khadim India Limited Financial Statement Overview

Summary

Severe financial strain: Revenue declined 18.7%, gross margin halved to 28.6%, and operating cash flow collapsed 82%. The balance sheet is highly leveraged (D/E 1.49) with a diminished equity cushion. Overall financial health is poor, warranting the lowest possible score.

Income Statement

25Negative

Balance Sheet

30Negative

Cash Flow

20Very Negative
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue3.49B3.67B4.18B6.15B6.60B5.91B
Gross Profit1.19B1.05B2.27B2.59B1.24B875.02M
EBITDA483.93M490.65M768.81M832.72M922.15M654.64M
Net Income27.70M30.99M50.60M62.78M174.78M64.38M
Balance Sheet
Total Assets05.47B7.61B7.32B7.35B6.51B
Cash, Cash Equivalents and Short-Term Investments103.79M103.79M81.26M55.48M64.30M31.13M
Total Debt02.49B2.95B3.21B3.10B2.42B
Total Liabilities-1.67B3.80B5.10B4.92B5.10B4.44B
Stockholders Equity1.67B1.67B2.51B2.40B2.25B2.08B
Cash Flow
Free Cash Flow-17.94M23.77M551.27M410.37M243.61M223.36M
Operating Cash Flow6.54M119.86M670.68M514.56M393.77M306.12M
Investing Cash Flow-14.37M-96.53M-88.78M-95.30M198.73M-138.29M
Financing Cash Flow-162.58M-282.83M-415.31M-505.10M-627.98M-417.83M

Khadim India Limited Technical Analysis

Technical Analysis SentimentPositive
Last Price122.15

Price Trends

50DMA119.58Positive
100DMA110.29Positive
200DMA113.49Positive

Market Momentum

MACD1.77Negative
RSI53.53Neutral
STOCH30.84Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KHADIM, the sentiment is Positive. The current price of 122.15 is above the 20-day moving average (MA) of 120.67, above the 50-day MA of 119.58, and above the 200-day MA of 113.49, indicating a bullish trend. The MACD of 1.77 indicates Negative momentum. The RSI at 53.53 is Neutral, neither overbought nor oversold. The STOCH value of 30.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KHADIM.

Khadim India Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:KHADIM against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:METROBRANDIN:METROBRAND66NeutralINR 228.49B54.96―0.72%15.60%16.47%
IN:BATAINDIAIN:BATAINDIA60NeutralINR 82.48B55.44―5.24%4.72%-11.79%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:CAMPUSIN:CAMPUS51NeutralINR 61.00B38.27―0.76%14.01%27.83%
IN:RELAXOIN:RELAXO45NeutralINR 73.95B40.32―1.17%2.11%5.98%
IN:KHADIMIN:KHADIM42NeutralINR 2.25B60.00――-24.25%-18.51%
IN:LIBERTSHOEIN:LIBERTSHOE39UnderperformINR 3.46B40.23――8.42%-39.81%

* General Sector Average

Performance Comparison

-60%-40%-20%0%IN:KHADIMIN:BATAINDIAIN:CAMPUSIN:LIBERTSHOEIN:METROBRANDIN:RELAXODec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
IN:KHADIM and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:KHADIMKhadim India Limited122.15-102.10-45.53%
IN:BATAINDIABata India Ltd648.45-331.44-33.82%
IN:CAMPUSCampus Activewear Ltd.197.50-72.89-26.96%
IN:LIBERTSHOELiberty Shoes Limited203.95-104.05-33.78%
IN:METROBRANDMetro Brands Ltd.835.75-255.63-23.42%
IN:RELAXORelaxo Footwears Limited300.60-121.49-28.78%

Khadim India Limited Corporate Events

CARE Ratings Revises Outlook on Khadim India’s Bank Facilities to Negative

Oct 1, 2026

CARE Ratings has reaffirmed Khadim India Limited’s long-term bank facility rating at CARE BBB, but shifted the outlook to Negative, and maintained the short-term rating at CARE A3+. The review, based on audited FY26 and unaudited Q1 FY27 performance,...

Khadim India Closes Trading Window Ahead of September Quarter Results

Sep 26, 2026

Khadim India Limited has announced the closure of its trading window for company securities starting October 01, 2026, in line with its code of conduct and the Securities and Exchange Board of India’s insider trading regulations. The window will rema...

Khadim India Releases FY 2025-26 Annual Report, Schedules Virtual AGM

Sep 2, 2026

Khadim India Limited has released its Annual Report for the financial year 2025-26 and issued the formal notice convening its Forty-Fifth Annual General Meeting. The AGM is scheduled for September 24, 2026, at 11:30 a.m. IST and will be conducted via...

Khadim India Moves AGM and Annual Report Distribution Largely Online

Sep 2, 2026

Khadim India Limited has informed stock exchanges that its Annual Report for the financial year 2025-26 and the Notice convening the 45th Annual General Meeting will be distributed primarily via email to shareholders with registered electronic addres...

Khadim India Recovers ₹319.7 Million After Winning Punjab Tender Dispute

Aug 26, 2026

Khadim India Limited has resolved a significant contractual dispute with the Samagra Shiksha Abhiyan Authority in Punjab over the supply of school shoes and uniforms under a government tender. Following litigation over withheld receivables and forfei...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 24, 2026