Khadim India shares climb over 7% after partnership with Puma; details here
Source: Business Standard
Shares of Khadim India zoomed 7.51 per cent at Rs 394.75 per share on the BSE in Wednesday’s intraday deals. This came after the company partnered with Puma to distribute Puma socks and its other products in the country.
“The company has entered into a tie up with Underlinen Fashion House, exclusive licensee and master distributor for Puma socks and other Puma products in India. The company intends to deepen its roots in the retail space through collaboration with Puma, the German multinational corporation for selling its socks, through the company’s retail outlets across India,” the company said in an exchange filing on Wednesday.
Khadim India is a footwear brand, with a dual focus on retail and distribution. As the second-largest footwear retailer in the country, Khadim operates over 800 exclusive retail stores, predominantly in East India and among the top three in South India.
The company’s retail division offers a wide range of footwear, including sandals, slippers, boots, and sports shoes, as well as accessories such as socks, shoe polish, belts, and wallets.
In its distribution vertical, Khadim manufactures and supplies footwear to distributors who then sell to multi-brand outlets nationwide. Established in 1981 as a wholesaler, Khadim expanded into retail in 1993. Its brands include Khadim, Pro, Sharon, Bonito, Lazard, Softouch, Cleo, British Walkers, Turk, Fliers, Kalypso, FitNxt, and Dunford.
For the April-June quarter of financial year 2024-25 (Q1FY25), Khadim India reported a 2.56 per cent decline in revenue year-on-year, totaling Rs 155.42 crore for Q1FY25. However, on a quarterly basis, revenue increased by 5.91 per cent. Net profit fell 60.61 per cent year-on-year to Rs 0.65 crore. Compared to the previous quarter, net profit decreased by 36.89 per cent.
The company has a total market capitalisation of Rs 686.19 crore. Its shares are trading at a price to earnings multiple of 126.16 times with an earning per share of Rs 2.91, according to data available on BSE.
At 2:36 PM; the share price of the company was trading 2.14 per cent higher at Rs 375 a piece. By comparison, the BSE Sensex was trading 0.37 per cent higher at 81,616 levels.
First Published: Sep 11 2024 | 2:39 PM IST
