India’s footwear industry is experiencing steady growth, driven by rising consumer demand, increasing disposable income, and expanding retail networks. As the market shifts towards premium and branded footwear, companies are expanding their presence, creating exciting investment opportunities.
The Union Budget 2025-26 introduced a new Focus Product Scheme, aimed at enhancing productivity, quality, and competitiveness in the footwear sector. This initiative will support design capacity, component manufacturing, and machinery for both leather and non-leather footwear.
With an expected ₹4 lakh crore turnover and the potential to generate 22 lakh jobs, the scheme is set to boost industry growth and investment prospects.
With these developments in mind, let’s explore the best footwear stocks in March 2025, based on their 5-year CAGR performance.
Company Name | Market Cap (₹ Cr) | PE Ratio | 5Y CAGR (%) |
Lehar Footwears Ltd | 393.26 | 59.95 | 55.39 |
Mirza International Ltd | 424.83 | 35.29 | 32.4 |
Liberty Shoes Ltd | 549.2 | 49.26 | 23.7 |
Khadim India Ltd | 557.14 | 88.72 | 22.09 |
Super House Ltd | 188.89 | 15.15 | 14.83 |
Sreeleathers Ltd | 533.14 | 19.86 | 8.78 |
Note: The stocks mentioned above have been sorted based on 5Y CAGR as of February 28, 2025.
Lehar Footwears Ltd., established in 1995, the company specialises in rubber, PU, PVC, EVA, and TPR sole footwear, catering to a diverse market. With an annual production capacity of 6.94 crore pairs
Key Metrics:
Mirza International Ltd. is a leading footwear manufacturer and exporter, known for its premium brands like Red Tape.
Mirza International reported a 43% QoQ revenue decline, with total income dropping to ₹114.92 crores. The company posted a net loss of ₹5.69 crores, reflecting a 229.3% YoY decline.
Key Metrics:
Liberty Shoes Ltd. is one of India’s leading footwear manufacturers, known for its diverse range of casual, formal, sports, and fashion footwear.
The company operates six state-of-the-art manufacturing units across India, producing over 50,000 pairs of shoes daily. With its emphasis on quality and evolving fashion trends
Key Metrics:
Khadim India Ltd. is one of India’s leading footwear retailers, specialising in affordable and stylish footwear for a wide consumer base.
Established in 1981 and with a strong pan-India presence, Khadim operates through over 800 retail stores, making it one of the largest footwear retail chains in the country.
Key Metrics:
Super House Ltd. is a leading manufacturer and exporter of leather footwear, accessories, and finished leather products.
Established in 1982, with ten state-of-the-art manufacturing units across India, Super House Ltd. caters to top global brands and has a strong foothold in Europe, the USA, and the Middle East.
Key Metrics:
Company Name | Market Cap (₹ Cr) |
Metro Brands Ltd | 31,627.44 |
Bata India Ltd | 16,480.44 |
Relaxo Footwears Ltd | 10,978.19 |
Khadim India Ltd | 557.14 |
Liberty Shoes Ltd | 549.2 |
Sreeleathers Ltd | 533.14 |
Mirza International Ltd | 424.83 |
Lehar Footwears Ltd | 393.26 |
Super House Ltd | 188.89 |
Note: The stocks mentioned above have been sorted based on market capitalisation as of February 28, 2025.
Company Name | Market Cap (₹ Cr) | Net Profit Margin (%) |
Metro Brands Ltd | 31,627.44 | 16.11 |
Sreeleathers Ltd | 533.14 | 12.3 |
Bata India Ltd | 16,480.44 | 7.41 |
Relaxo Footwears Ltd | 10,978.19 | 6.81 |
Lehar Footwears Ltd | 393.26 | 3.29 |
Mirza International Ltd | 424.83 | 1.89 |
Super House Ltd | 188.89 | 1.84 |
Liberty Shoes Ltd | 549.2 | 1.75 |
Khadim India Ltd | 557.14 | 1.01 |
Note: The stocks mentioned above have been sorted based on net margin as of February 28, 2025.
Company Name | Market Cap (₹ Cr) | Debt-to-Equity Ratio |
Sreeleathers Ltd | 533.14 | 0.01 |
Mirza International Ltd | 424.83 | 0.06 |
Relaxo Footwears Ltd | 10,978.19 | 0.1 |
Super House Ltd | 188.89 | 0.43 |
Metro Brands Ltd | 31,627.44 | 0.58 |
Lehar Footwears Ltd | 393.26 | 0.66 |
Liberty Shoes Ltd | 549.2 | 0.7 |
Bata India Ltd | 16,480.44 | 0.89 |
Khadim India Ltd | 557.14 | 1.34 |
Note: The stocks mentioned above have been sorted based on debt to equity as of February 28, 2025.
For investors, factors such as 5-year CAGR, market capitalisation, net profit margins, and debt-to-equity ratios are crucial in assessing the best footwear stocks. While high-growth companies like Lehar Footwears and Mirza International offer strong returns, established brands like Bata India and Metro Brands provide stability.
As the market continues to evolve, long-term investors should focus on financial fundamentals, industry trends, and policy support to make informed investment decisions in the footwear sector.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 28, 2025, 3:19 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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