532829
Lehar Footwears financials
- Market cap
- ₹358 Cr
- Sector
- Consumer Durables
What Lehar Footwears does
Lehar Footwears is a homegrown footwear maker established in 1994 that manufactures non-leather EVA/PVC/PU injected footwear — slippers, sandals, casual, school, canvas and sports shoes — for men, women and kids, sold under its own Lehar and newly launched Rannr brands as well as via OEM supply to brands such as Spykar, Red Chief, Cult Sport, Yoho, Shein, Lee Cooper, Plaeto and Exelerate. Products are made at five manufacturing facilities in Rajasthan and Haryana, including a Kundli athleisure unit, and distributed pan-India through a wholesaler/distributor network, modern trade and e-commerce, alongside exports to Asia, Africa and the Middle East. Since FY2024-25 the company has also run an asset-light toolkit-supply business, procuring, assembling and delivering carpenter tool kits under the government's PM Vishwakarma Scheme in partnership with NSIC.
Segments
- Footwear
- Toolkit supply
- Manufacturing facilities
- 5 (Rajasthan & Haryana, incl. Kundli athleisure unit)
- Product SKUs
- 1,300+ across Men, Women & Kids
- Distributor network
- 520+
- Distribution reach
- 27 states across India
- Export presence
- 20+ countries
- Modern trade customers
- 12
Quarterly results
Q4 FY26: revenue down 16.6%, net profit down 17.9% against the same quarter last year.
| Line item | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 63 | 38 | 67 | 109 | 142 +125% | 141 +273% | 57 −15% | 91 −17% |
| EBITDA | 6 | 4 | 6 | 10 | 13 +115% | 13 +181% | 6 −8% | 8 −17% |
| Net profit | 2 | 1 | 2 | 5 | 7 +205% | 7 +474% | 2 −2% | 4 −18% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −25.7% 1Y
1Y: ₹273.35 on 10 Sept 2025 → ₹203. High ₹279.4 (10 Nov 2025), low ₹163.7 (30 Mar 2026).
Financials, as filed
Revenue grew 64.6% a year over 5 years, FY11 to FY26. Operating margin held at 9.0%.
| Year ending | FY11 | FY12 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Revenue | ₹36 Cr | ₹53 Cr | ₹202 Cr | ₹194 Cr | ₹277 Cr | ₹431 Cr |
| Operating profit | ₹3 Cr | ₹3 Cr | ₹14 Cr | ₹18 Cr | ₹26 Cr | ₹39 Cr |
| Operating margin | 9.2% | 6.4% | 6.8% | 9.3% | 9.4% | 9.0% |
| Interest | ₹1 Cr | ₹1 Cr | ₹5 Cr | ₹6 Cr | ₹7 Cr | ₹5 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹4 Cr | ₹5 Cr | ₹6 Cr |
| Net profit | ₹1 Cr | ₹1 Cr | ₹5 Cr | ₹7 Cr | ₹11 Cr | ₹21 Cr |
| Net margin | 4.1% | 2.2% | 2.5% | 3.4% | 3.9% | 4.8% |
| Cash from operations | — | — | ₹-2 Cr | ₹2 Cr | ₹20 Cr | ₹25 Cr |
| Free cash flow | — | — | ₹-14 Cr | ₹-6 Cr | ₹12 Cr | ₹10 Cr |
| ROCE | 9.1% | 7.7% | — | — | — | — |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹14 Cr | ₹14 Cr | ₹16 Cr | ₹18 Cr | ₹18 Cr | ₹18 Cr |
| Reserves | ₹46 Cr | ₹57 Cr | ₹73 Cr | ₹83 Cr | ₹108 Cr | ₹115 Cr |
| Borrowings | ₹33 Cr | ₹58 Cr | ₹66 Cr | ₹68 Cr | ₹58 Cr | ₹58 Cr |
| Other liabilities | ₹46 Cr | ₹38 Cr | ₹70 Cr | ₹50 Cr | ₹73 Cr | ₹83 Cr |
| Total liabilities | ₹139 Cr | ₹166 Cr | ₹224 Cr | ₹218 Cr | ₹257 Cr | ₹273 Cr |
| Fixed assets | ₹58 Cr | ₹68 Cr | ₹73 Cr | ₹79 Cr | ₹88 Cr | ₹89 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹4 Cr | ₹0 Cr | ₹0 Cr | ₹2 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹81 Cr | ₹99 Cr | ₹147 Cr | ₹139 Cr | ₹169 Cr | ₹182 Cr |
| Total assets | ₹139 Cr | ₹166 Cr | ₹224 Cr | ₹218 Cr | ₹257 Cr | ₹273 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −0.29 pp while FIIs added +0.26 pp. The shareholder count grew 4% to 5,749.
- Promoters
- 72.9%
- FIIs
- 0.3%
- Public
- 26.8%
Since Jun 2025
- Public −0.29 pp
- FIIs +0.26 pp
- Promoters +0.03 pp
How it drifted, 12 quarters
Over this window the public fell from 29.0% to 26.8% — −2.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 71.0%, Public 29.0%.Dec '23: Promoters 71.0%, Public 29.0%.Mar '24: Promoters 72.9%, Public 27.1%.Jun '24: Promoters 72.9%, Public 27.1%.Sep '24: Promoters 72.9%, Public 27.1%.Dec '24: Promoters 72.9%, Public 27.1%.Mar '25: Promoters 72.9%, Public 27.1%.Jun '25: Promoters 72.9%, Public 27.1%.Sep '25: Promoters 72.9%, Public 27.1%.Dec '25: Promoters 72.9%, Public 27.1%.Mar '26: Promoters 72.9%, FIIs 0.3%, Public 26.8%.Jun '26: Promoters 72.9%, FIIs 0.3%, Public 26.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Naresh Kumar Agarwal +11.42 pp 20.01% held
- Nandan Agarwal +0.15 pp 0.18% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Lehar Footwears above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Naresh Kumar Agarwal | 20.01% | +11.42 pp |
| Raj Kumar Agarwal | 9.86% | unchanged |
| Pramod Kumar Agarwal | 8.28% | unchanged |
| Santra Devi Agarwal | 6.44% | unchanged |
| Naveen Kumar Agarwal | 5.21% | unchanged |
| Sanjay Kumar Agarwal | 3.40% | unchanged |
| Pankaj Agarwal | 2.47% | unchanged |
| Prateek Agarwal | 2.23% | unchanged |
| Abhijit Periwal | 2.20% | unchanged |
| Megha Agarwal | 1.62% | unchanged |
| Latadevi Anilkumar Gadia | 1.58% | −0.14 pp |
| Lawreshwar Footcare Private Limited | 1.52% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
AttractiveTo justify its price of ₹203, this stock must grow earnings at 10% every year for 7 years. Our analysis caps realistic growth at ~64%. At that growth it is worth ₹2701 — upside of 1231%.
- Growth the price implies
- 9.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 64.5% a year
- net profit, FY23–FY26
- The gap
- -0.5 pp
- 1231% downside if it only repeats history
Learn to analyse Lehar Footwears
Guides on how to read this kind of business and the numbers that matter.