Lehar Footwears Ltd

BSE: 532829

₹ 180+1.49%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 318 crWebsite: www.leharfootwear.comUpdated: 24 Oct 2026

About

Lehar Footwears makes non-leather footwear, including Hawai slippers, EVA/PVC/PU-injected footwear, school shoes, canvas shoes and sports shoes, across 1,300+ active SKUs. It also supplies toolkits under the PM Vishwakarma Scheme. The company describes itself as a leading non-leather mass footwear manufacturer in North India. FY26 revenue was ₹431.1 Cr, up 56% YoY.^[1][2][3]

Business segments

Toolkit and others: 54.5% of revenue in FY26 (₹249.56 Cr), with an EBIT margin of 7.1%.^[4]
Footwears, accessories and like products: 45.5% of revenue in FY26 (₹208.7 Cr), with an EBIT margin of 7.5%.^[4]
The toolkit business supplies the PM Vishwakarma Scheme through NSIC. It began in Q2 FY25, and management describes it as asset-light with negligible working capital needs.^[1][2]

Products and brands

Non-leather footwear across 1,300+ active SKUs in FY25: open footwear, EVA/PVC/PU-injected footwear, Hawai slippers, school shoes, canvas shoes, sports shoes and PVC shoes.^[1]
Launched its own sports shoe brand RANNR and Crozi single-mould EVA footwear, aimed at the mass-mid segment (Q1 FY26).^[5]
Bollywood actor Govinda is the brand ambassador for 'Lehar' (FY25).^[1]
Started OEM supply in athleisure and onboarded Spykar, Red Chief, Cult Sport, Yoho, Shein, Lee Cooper, Plaeto and Exelerate (FY26).^[2]

Operations

5 integrated manufacturing facilities in Rajasthan and Haryana (FY25).^[1]
Commissioned a dedicated sports shoe plant at Kundli, Haryana, with capacity of 1 lakh pairs per month (FY26).^[5][2]
Toolkit warehouses are in Jaipur, Delhi, Patna and Vijayawada. Toolkit parts are partly made in-house and partly sourced from vetted vendors (FY25).^[1]
Employees: 360 full-time as of March 31, 2025, and a workforce of 781 including contractors.^[1]

Key operating numbers

Footwear volume was about 1.7 crore pairs in FY25, down from 1.9 crore pairs in FY24.^[1]
Sold 69,288 toolkits in FY25.^[1]
Footwear revenue mix in FY25: domestic 54%, exports ~25%, government tenders ~21%.^[1]
Export sales were ₹30 Cr in FY26, up from ₹11 Cr in FY20.^[2]

Customers and distribution

520+ distributors in FY26. Present in 27 states in FY25.^[2][5]
12 modern trade customers, including DMart, FirstCry, Reliance Retail, Spencer's and V2 Retail. Sells online on Flipkart and Bijnis (FY25).^[1]
Supplies school shoes to state governments, including U.P., West Bengal, Andhra Pradesh and Tamil Nadu, under welfare schemes (FY25).^[1]
Exports to 20 countries across Asia, Africa and the Middle East (FY25).^[1]

Toolkit order book

Signed an agreement worth ₹298 crores with NSIC under the PM Vishwakarma Scheme. ₹193 cr of it had been delivered as of Q1 FY26.^[1][5]
Received an additional ₹74.9 crore order for 50,000 toolkits (Q1 FY26).^[5]
The next phase aims to scale toolkit supply to several trades and to bid in government footwear tenders (FY26).^[2]

Expansion and capex

The Kundli sports shoe facility is being expanded in phases from 1 lakh to 5 lakh pairs per month, with commercial operations from Q2 FY27.^[2]
ERP implementation began in April 2026, with the aim of improving working capital.^[2]
Received ₹8.5 crores of Government of India assistance to set up an in-house design studio, and ₹9 crores over 3 years under the IFLDP brand promotion sub-scheme.^[1]

Recent developments

June 2025: received the BIS IS 6721:2023 licence for footwear fabrication.^[1]
Long-term debt fell from a peak of about ₹15 Cr in FY23 to near-negligible levels in FY26.^[2]

Market Cap

₹318 Cr

High / Low

₹285 / 160

Stock P/E

19.0

Price / Book

2.4

Book Value

₹75

EPS

₹11.8

No. of Shares

1.77 Cr

ROCE

18.2%

ROE

17.0%

OPM

7.7%

Debt / Equity

0.40

Sales

₹431 Cr

Net Profit

₹21 Cr

Promoter holding

72.9%

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Lehar Footwears Ltd

About

Business segments

Products and brands

Operations

Key operating numbers

Customers and distribution

Toolkit order book

Expansion and capex

Recent developments

Signal history

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