Financial Performance Overview

Income Statement Highlights

  • Revenue from operations: ₹1,774.12 crore (FY25: ₹1,592.96 crore) - 11.4% growth
  • Profit after tax: ₹150.09 crore (FY25: ₹121.18 crore) - 23.8% growth
  • EBITDA: ₹314.73 crore (21.9% growth YoY)
  • Basic EPS: ₹4.91 (FY25: ₹3.97)
  • Volume Sold: 26 million pairs (4.2% growth YoY)
  • Average Selling Price: ₹683 per pair (6.9% growth YoY)

Balance Sheet Position (as at March 31, 2026)

  • Total Assets: ₹1,467.19 crore (FY25: ₹1,305.17 crore)
  • Total Equity: ₹906.25 crore (FY25: ₹756.51 crore)
  • Current Ratio: 2.37 (FY25: 1.71)
  • Debt Equity Ratio: 0.04 (FY25: 0.00)
  • Return on Capital Employed: 22.4%

Dividend Recommendation

The Board of Directors has recommended a final dividend at the rate of 30% on the face value of equity shares (₹1.50 per equity share of ₹5 each) for FY 2025-26, subject to approval by members at the AGM.

Auditor's Report and Key Audit Matters

B S R & Co, Chartered Accountants conducted the audit and issued an unqualified opinion. However, they noted significant issues with the new accounting software implementation:

  • Unable to comment on whether audit trail feature was enabled at database level due to absence of SOC report
  • Unable to confirm whether audit trail feature was tampered with during April 1, 2025 to December 31, 2025
  • Audit trail not preserved as per statutory requirements for record retention

Key audit matter focused on revenue recognition (₹1,758.76 crore) due to fraud risk, but no material misstatements were found.

Annual General Meeting Details

Meeting Information

  • 18th Annual General Meeting
  • Date: Thursday, August 20, 2026
  • Time: 11:00 A.M. (IST)
  • Mode: Video Conferencing (VC) or Other Audio-Visual Means (OAVM)
  • Cut-off date for voting rights: Thursday, August 13, 2026
  • Remote e-voting period: August 17-19, 2026

Agenda Items

Ordinary Business: Adoption of financial statements, re-appointment of Mr. Nikhil Aggarwal as Director, and declaration of final dividend.

Special Business: Re-appointment of four Independent Directors (Mr. Anil Kumar Chanana, Mr. Jai Kumar Garg, Mrs. Madhumita Ganguli, and Mr. Nitin Savara) and modification of Employee Stock Option Plan 2021.

Operational and Strategic Highlights

  • Distribution Reach: 29,000+ retail touchpoints across 800 districts
  • Manufacturing Capacity: 30.7 million pairs annual assembly capacity
  • Expansion into athleisure apparel segment
  • Segment Reporting: Single segment - Footwear and Accessories with ₹1,753.44 crore from India operations

Compliance and Contingencies

  • Dues to micro and small enterprises: ₹45.67 crore principal amount unpaid with ₹1.29 crore interest
  • Contingent liabilities: GST dues ₹3.14 crore
  • Estimated capital commitments: ₹5.80 crore (net of advances)

Corporate Social Responsibility

  • CSR expenditure: ₹2.94 crore (FY25: ₹2.97 crore)
  • Activities include dialysis centers, educational initiatives, women empowerment programs, and hostel construction