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Comparing the performance of footwear companies in India; which one do you like?

22 June 20236 mins read by Angel One
Rajasthan-based footwear manufacturer and exporter Lehar Footwear’s stock is trading at around Rs 131 and the stock has generated a magnificent return of over 250% in just one year.
Comparing the performance of footwear companies in India; which one do you like?
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In the world of fashion, footwear plays a significant role in completing the outfit and making a style statement. From formal events to casual outings, the right pair of shoes can elevate any outfit. India, known for its diverse culture and rich heritage, is not only a land of colours and traditions but also a thriving market for various industries.

In the Indian footwear market, gender plays a significant role, with the market divided into males and females. Within this segmentation, the female segment holds the largest market share compared to male consumers.

Footwear companies constantly launch new and trendy products which attracted consumers and the availability of a diverse range of footwear designs, patterns, and types has become a key factor in attracting consumers and propelling market expansion.

Also, the arrival of e-commerce platforms and the growing penetration of internet connectivity have revolutionized the way consumers shop for footwear. Online sales have given a significant boost in recent years. This shift in consumer behaviour has profoundly impacted the footwear market in India.

Industry Overview

The Indian Footwear market size reached USD 15.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach USD 31.2 Billion by 2028, exhibiting a growth rate of 12% CAGR during 2023-2028.

In this article, we are going to compare the footwear companies listed in the Indian markets in terms of their Price to earnings, Profit Margins, Earnings growth, returns generated, and the stock’s performance during the past year. The list is synchronized as per the stock’s performance during the past year.

Company Name CMP (Rs) Mar Cap Rs in Cr P/E (Times) FY23 OPM % EPS FY22 EPS FY23 ROCE % ROE % 1-Year Return %
Lehar Footwears     131.0                     195.9       38.2         6.9     1.8           3.4         8.2       6.4       251.6
Mirza International         51.6                     713.1       27.2         9.9     9.2           1.9         6.4       4.3           92.0
Liberty Shoes     241.1                     410.8       31.3         9.4     1.3           7.6         9.9       6.8           82.0
Superhouse Ltd     219.5                     242.0         9.1         7.4 32.2         24.1         8.5       6.2           34.9
Khadim India     233.0                     418.7       23.9       11.0     3.6           9.7       10.5       8.1           25.3
Sreeleathers     196.0                     453.8       17.7       17.9     7.1         11.1         9.8       7.2           24.6
Bata India   1,650.0               21,207.0       65.6       23.0     8.0         25.1       19.2     19.9             0.4
Campus Activewear     321.3                 9,797.0       83.7       17.1     3.6           3.8       23.1     23.9           -2.1
Relaxo Footwear     910.8               22,673.3     146.8       12.1     9.4           6.2       11.6       8.6           -7.1

Top Performing Companies Based Net Profit as per FY23

Company Name CMP (Rs) FY23 Net Profit (Rs in Cr)
Bata India       1,650.0                     323.0
Relaxo Footwear           910.8                     154.5
Campus Activewear           321.5                     117.1
Superhouse Ltd           219.5                       30.3
Mirza International             51.6                       26.2

 The Indian footwear market has witnessed significant growth in recent years, driven by a combination of factors such as rising disposable incomes, changing fashion trends, increasing urbanization, and a growing awareness of foot health.  North India, with its high consumption and production capabilities, stands out as a key player in the Indian footwear market. Agra’s emergence as the largest footwear production centre contributed to both domestic consumption and footwear exports. 

Considering the huge population of India and its large consumer base this industry has the potential to showcase growth in the future. Investors must keep these stocks on their radar.

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