LIBERTSHOE

Liberty Shoes financials

Market cap
₹390 Cr
Sector
Consumer Durables

What Liberty Shoes Limited does

Liberty Shoes designs, manufactures and retails footwear under the Liberty brand, with its roots dating to 1954. The company sells through a physical retail and franchise store network as well as its e-commerce vertical (libertyshoesonline.com), which it describes as its fastest-growing channel. Product development is carried out at four in-house "Human Tech Centres" that have produced footwear technologies such as Therma Step, Vibra Step, Nit Pro and Cloud Foam, supported by an NABL-accredited in-house materials testing lab and a SAP-integrated operating backend.

Segments

  • Retail
  • E-commerce
Product innovation centres
4 in-house Human Tech Centres
Manufacturing plant
Libertypuram, Karnal, Haryana
Materials testing lab
NABL-accredited in-house lab
Retail channels
Owned stores, franchise network and e-commerce (libertyshoesonline.com)
Founded 1954Headquarters Gurugram, Haryana Company website

Quarterly results

Q1 FY27: revenue down 1.7%, net profit down 79.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue172 160 188 173 174 +1%181 +13%212 +13%170 −2%
EBITDA15 13 25 16 15 +4%13 −1%20 −21%14 −15%
Net profit1 2 6 3 2 +114%1 −75%5 −6%1 −80%
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 −31.9% 1Y

₹250₹300₹350Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹335.75 on 10 Sept 2025 → ₹228.68. High ₹376.4 (17 Sept 2025), low ₹213.11 (30 Mar 2026).

Financials, as filed

Revenue grew 29.0% a year over 5 years, FY06 to FY26. Operating margin narrowed to 8.7%.

Year endingFY06FY07FY23FY24FY25FY26
Revenue₹207 Cr₹220 Cr₹654 Cr₹637 Cr₹675 Cr₹740 Cr
Operating profit₹32 Cr₹30 Cr₹62 Cr₹67 Cr₹69 Cr₹64 Cr
Operating margin15.5%13.8%9.4%10.5%10.2%8.7%
Interest₹4 Cr₹8 Cr₹12 Cr₹14 Cr₹13 Cr₹16 Cr
Depreciation₹4 Cr₹5 Cr₹32 Cr₹34 Cr₹33 Cr₹34 Cr
Net profit₹19 Cr₹15 Cr₹13 Cr₹11 Cr₹14 Cr₹11 Cr
Net margin9.2%6.8%2.0%1.8%2.0%1.5%
Cash from operations——₹94 Cr₹88 Cr₹74 Cr₹80 Cr
Free cash flow——₹94 Cr₹88 Cr₹74 Cr₹80 Cr
ROCE——9.0%9.0%10.0%8.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹17 Cr₹17 Cr₹17 Cr₹17 Cr₹17 Cr₹17 Cr
Reserves₹169 Cr₹172 Cr₹181 Cr₹192 Cr₹211 Cr₹217 Cr
Borrowings₹97 Cr₹125 Cr₹160 Cr₹147 Cr₹165 Cr₹166 Cr
Other liabilities₹234 Cr₹118 Cr₹112 Cr₹107 Cr₹117 Cr₹123 Cr
Total liabilities₹517 Cr₹432 Cr₹471 Cr₹464 Cr₹511 Cr₹523 Cr
Fixed assets₹153 Cr₹136 Cr₹160 Cr₹165 Cr₹171 Cr₹184 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹4 Cr₹4 Cr
Investments₹1 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹363 Cr₹295 Cr₹310 Cr₹299 Cr₹336 Cr₹335 Cr
Total assets₹517 Cr₹432 Cr₹471 Cr₹464 Cr₹511 Cr₹523 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, promoters added +1.02 pp while the public trimmed −0.73 pp. The shareholder count grew 1% to 21,331.

Promoters
59.3%
FIIs
0.1%
Public
40.6%

Since Jun 2025

  • Promoters +1.02 pp
  • Public −0.73 pp
  • FIIs −0.29 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 58.5%, FIIs 0.1%, Public 41.4%.Dec '23: Promoters 58.5%, Public 41.5%.Mar '24: Promoters 58.5%, FIIs 0.7%, Public 40.8%.Jun '24: Promoters 58.5%, FIIs 0.6%, Public 40.9%.Sep '24: Promoters 58.4%, FIIs 0.6%, Public 41.1%.Dec '24: Promoters 58.3%, FIIs 0.7%, Public 41.0%.Mar '25: Promoters 58.3%, FIIs 0.7%, Public 41.0%.Jun '25: Promoters 58.3%, FIIs 0.4%, Public 41.3%.Sep '25: Promoters 58.5%, FIIs 0.2%, Public 41.3%.Dec '25: Promoters 58.5%, FIIs 0.2%, Public 41.4%.Mar '26: Promoters 59.1%, FIIs 0.1%, Public 40.8%.Jun '26: Promoters 59.3%, FIIs 0.1%, Public 40.6%.

Who was buying across the market this quarter →

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.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Liberty Shoes Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Geofin Investments Private Limited 26.25%unchanged
Adesh Kumar Gupta HUF 3.99%unchanged
Adeesh Kumar Gupta HUF 3.87%unchanged
Anupam Bansal 3.44%+0.18 pp
Arpan Gupta 2.99%unchanged
Ayush Bansal 1.99%unchanged
Arpan Gupta Karta of Dinesh Kumar Gupta HUF 1.85%unchanged
Ruchir Bansal 1.82%unchanged
Pulkit Bansal 1.76%unchanged
Shammi Bansal 1.72%+0.12 pp
Klj Resources Limited 1.62%unchanged
Akshat Gupta 1.42%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

Growth trap

To justify its price of ₹229, this stock must grow earnings at 13% every year for 7 years. Our analysis caps realistic growth at ~-6%. At that growth it is worth ₹80 — downside of 65%.

Growth the price implies
13.3% a year
for 7 years, fading to 4%
It has actually compounded at
-6.0% a year
net profit, FY23–FY26 · EPS -6.0%
The gap
0.2 pp
-65% downside if it only repeats history
Price today ₹228.68 Value at the reference growth ₹80.08 Cyclical — a peak-earnings base overstates value

Change the assumptions yourself →

Learn to analyse Liberty Shoes Limited

Guides on how to read this kind of business and the numbers that matter.