Khadim India Limited has announced a significant change in its senior management structure with the retirement of a key personnel. The footwear retailer has informed stock exchanges about this development as part of its regulatory compliance obligations.

Senior Management Retirement

The company has disclosed the retirement of Mr. Saibal Banerjee, who serves as General Manager – Administration. This announcement was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The disclosure was filed with both major stock exchanges where Khadim India Limited shares are listed. The company submitted the information to BSE Limited and National Stock Exchange of India Limited, fulfilling its obligations under the listing regulations.

Mr. Banerjee's role qualifies as Senior Management Personnel under Regulation 16(1)(d) of the Listing Regulations, making this disclosure mandatory. The announcement was signed by Abhijit Dan, Group Company Secretary & Head - Legal, who holds ICSI Membership No. A21358.

Documentation and Timeline

The formal communication was digitally signed and submitted on April 01, 2026, coinciding with the effective date of the retirement. The disclosure follows the format prescribed under SEBI Master Circular guidelines and includes all required particulars for senior management changes.

This retirement represents a planned transition within Khadim India Limited's administrative leadership structure, with the company ensuring full transparency through proper regulatory disclosures to its stakeholders and the investing public.

Khadim India Limited announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, and conducted an investor presentation on February 16, 2026. The footwear retailer faced challenging market conditions, reporting declining revenues and posting a net loss for the third quarter.

Financial Performance Overview

The company's financial performance showed mixed results across different periods:

Quarterly Results Analysis

For Q3FY26, Khadim India reported revenue from operations of ₹862.37 million, marking a significant 21.8% decline from ₹1,102.35 million in the corresponding quarter of the previous year. Total income for the quarter stood at ₹900.22 million compared to ₹1,145.52 million in Q3FY25. The company's total expenses for Q3FY26 were ₹883.89 million, down from ₹1,075.93 million in Q3FY25. Despite the reduction in expenses, the company posted a net loss of ₹1.74 million for the quarter, contrasting sharply with the profit of ₹11.68 million recorded in Q3FY25.

Nine-Month Performance

For the nine months ended December 31, 2025, revenue from operations declined to ₹2,835.40 million from ₹3,242.29 million in the corresponding period of FY25, representing a 12.5% decrease. However, the company managed to maintain profitability for the nine-month period with a net profit of ₹23.66 million, though this was 43.5% lower than the ₹41.85 million profit recorded in the same period last year.

Impact of New Labour Codes

A significant factor affecting the quarterly results was the implementation of new labour codes. The company recognized exceptional items worth ₹18.20 million in Q3FY26 related to the "Impact of new Labour Codes." This exceptional charge primarily arose from changes in wage definition, affecting gratuity and leave encashment benefits. The Government of India notified four Labour Codes on November 21, 2025, consolidating 29 existing labour laws.

Investor Presentation and Corporate Developments

The Board of Directors, in their meeting held on February 10, 2026, approved several key decisions and scheduled an investor presentation for February 16, 2026:

Business Highlights and Strategy

During the investor presentation, the company showcased its extensive retail network of 864 'Khadim's' branded retail stores as of December 2025, with presence across 28 states and 4 union territories. The company operates an asset-light model with 76% of retail presence through franchise route and outsources 100% of product requirement. Khadim India positions itself as the second largest footwear retailer in India with the largest presence in East India and among the top 3 players in South India.

The company's retail business targets middle and upper middle-income consumers across metros, Tier I-III cities with products priced between ₹123 to ₹6,499. The business model focuses on distinct brand positioning across various market segments, catering to approximately 85% of the total Indian footwear market potential through its retail and distribution business.

Source: Company Presentation