Decathlon Sports India, the Indian arm of French sporting goods retailer, has turned profitable in 2023-24, reporting a net profit of Rs 197.19 crore, FE has learnt.
The company had reported a net loss of Rs 18.61 crore in FY23, according to its RoC filings, accessed via data intelligence platform Tracxn.
In FY24, Decathlon India’s total income rose around 2.8% to Rs 4,066.4 crore as compared to Rs 3,954.98 crore in the previous year.
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Its expenditure, on the other hand, fell over 4% to Rs 3,797.13 crore as compared to Rs 3,974.81 crore in FY23.
The company had last year announced its plans to invest heavily in India. Over the next five years, it is likely to put in around Rs 900 crore to expand its presence in the country.
The retailer has set a target of adding 10-15 new stores every year, to its existing network of 127 outlets. Ultimately, it aims to have around 190 stores in 90 cities in the country.
While its sales from online channels have fallen in FY24, it is still betting on improving its digital presence.
The company has partnered with some quick-commerce companies to have its goods delivered within 10-15 minutes in major cities.
By 2026, it is also aiming to increase its manufacturing in India to 85% of its total goods sold in the country, up from the current 68%.
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Last year, Decathlon had also said India is a “big priority” market and expects it to be among its top five global markets within five years.
Decathlon Sports entered India by starting production in 1999 and retail operations in 2009. The company has so far invested around Rs 900 crore in the country till now.
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