Lehar Footwears Limited submitted a revised investor presentation for the quarter and year ended March 31, 2026 to BSE Limited on June 5, 2026. The document was signed by Ritika Poddar, Company Secretary & Compliance Officer (ACS No. A65615).

Financial Performance FY2026

Revenue: ₹431.1 Crore, representing 56% year-over-year growth

EBITDA: ₹38.9 Crore with EBITDA margin of 9.0%, showing 49% YoY growth

PAT: ₹20.8 Crore with PAT margin of 4.8%, demonstrating 92% YoY growth

Cash Flow from Operations: ₹25.2 Crore, described as showing healthy cash conversion and operating discipline

Return on Capital Employed (RoCE): 18.0%, indicating efficient capital utilization

Business Overview

The company is an emerging non-leather footwear manufacturer focused on premiumization, diversification, and category expansion. It has a strong pan-India presence across 27 states and global presence in 20+ countries through exports and international markets.

Manufacturing and Distribution

Manufacturing Facilities: Five plants across Rajasthan and Haryana:

  • Plant I - VKIA, Jaipur
  • Plant II - VKIA, Jaipur
  • Plant III - Kaladera, Jaipur
  • Plant IV - VKIA, Jaipur
  • Plant V - Kundli, Sonipat

Distribution Network: 520+ distributors with multi-channel presence including:

  • E-commerce platforms: Flipkart, Bijnis
  • Retail stores: Reliance, D-Mart
  • Large Format Stores

Product Innovation and Capacity

The company has launched Single Mould EVA footwear and Sports Shoes. It has installed fully automatic injection moulding machinery for EVA footwear and Rotary Type PU Injection Machine for PU footwear, enhancing manufacturing efficiency and product quality.

Toolkit Business and Vishwakarma Scheme

The company operates an asset-light toolkit business with negligible working capital requirements and high RoCE generation. It started tool kits supply under PM Vishwakarma Scheme in FY24-25 and is scaling from a single trade to multiple trades within the scheme.

Growth Initiatives and Capex

New Athleisure Facility, Kundli: Expected to commence commercial operations from Q2FY27 onwards

Balance Sheet Strengthening: Long-term debt reduced from approximately ₹15 Crore peak in FY23 to near-negligible levels in FY26. Growth capex is funded through internal accruals and cash flows, reducing external borrowing dependence.

Management Team

Seasoned promoters with 30+ years of industry experience. Key appointments during the year:

  • Ritika Poddar: Company Secretary & Compliance Officer (5 years experience)
  • Naveen Kumar Agarwal: VP - Manufacturing (21+ years experience)
  • Pramod Agarwal: Whole Time Director (30+ years experience)
  • Naresh Agarwal: Managing Director (30+ years experience)
  • Raj Kumar Agarwal: Chairman and Whole Time Director (20 years experience)
  • Sanjay Kumar Agarwal: CEO (30+ years experience)
  • Pankaj Agarwal: VP - Finance (16 years experience)
  • Prateek Agarwal: VP - Operations (10 years experience)
  • Praveen Singhal: VP - Sourcing & Development (35+ years experience, former Head of Development at Campus Activewear Ltd)
  • Rakesh Kumar Soni: CFO (16+ years experience)
  • Sarvesh Sharma: VP - Operations - Kundli (22+ years experience, former Head of Production and Sourcing at Campus Activewear Ltd)
  • Anil Gaur: VP Sales (30+ years experience, former VP Sales & Marketing at JQR Sports, Head–Distribution at Goldstar Footwear, Regional Head - North Sales at VKC Group)
  • Manav Agarwal: E-Commerce Manager (MBA from Curtin University, Dubai)

Financial Trends

PAT CAGR (FY20-26): 31%

Revenue CAGR (FY20-26): 66%

EPS Growth: Robust growth from ₹0.71 in FY20 to ₹11.79 in FY26

Export Sales: Scaled from ₹11 Crore in FY20 to ₹30 Crore in FY26

Industry Outlook

The Indian footwear industry shows strong structural growth drivers including:

  • Rising disposable income and urbanization
  • Premiumization trend from unorganized to branded products
  • Export opportunities (China+1 strategy)
  • Government support through Make in India initiatives, GST reduction, and production-linked incentives
  • Formalization of market share to organized players
  • Rising fashion awareness focusing on style, comfort & lifestyle

Disclaimer

The presentation contains forward-looking statements subject to various risks and uncertainties. The information is for general purposes only and does not constitute any recommendation or offer of securities. The company assumes no responsibility to update forward-looking statements based on subsequent developments.