Lehar Footwears Limited reported a 56% year-on-year increase in revenue to ₹431.1 Cr for the financial year ended March 31, 2026. Profit after tax (PAT) surged 92% to ₹20.8 Cr, reflecting a PAT margin of 4.8%, while EBITDA rose 49% to ₹38.9 Cr with a margin of 9.0%. The return on capital employed (RoCE) improved to 18.0% for the year.

The company’s financial performance was supported by a healthy balance sheet and operational efficiencies. Long-term debt reduced from a peak of approximately ₹15 Cr in FY23 to near-negligible levels of ₹0.6 Cr in FY26. The debt-to-equity ratio stood at 0.42x. Cash flow from operations (CFO) was recorded at ₹25.2 Cr, indicating healthy cash conversion.

Working capital metrics showed significant improvement. Debtors velocity tightened to 66 days in FY26 from 121 days in the previous year, while inventory velocity improved to 67 days from 86 days. The company attributes these gains to better credit discipline, a leaner inventory management system, and a favorable channel mix.

Financial Highlights

Strategic Growth Drivers

The company expanded its manufacturing capacity and product categories during the year. A phased expansion at the Kundli sports shoe facility aims to increase capacity from 1 lakh to 5 lakh pairs per month. Lehar Footwears also onboarded new OEM partners for sports shoe manufacturing, including Spykar, Red Chief, and Cult Sport, and launched its in-house brand 'RANNR'.

In the toolkit business, the company continued its supply under the PM Vishwakarma Scheme, an asset-light model generating high RoCE. The FY26-27 budget proposes a ₹3,861 Cr outlay for the scheme, which the company expects to support further scaling of this vertical.

Naresh Kumar Agarwal, a promoter of Lehar Footwears Limited , has increased his shareholding to 20.01% following the transmission of 20,19,170 equity shares. The shares were inherited from the late Mr. Ramesh Chand Agarwal, as disclosed in a regulatory filing submitted to BSE Limited on May 30, 2026. This transaction alters the promoter's control within the footwear manufacturer, bringing his total voting rights ownership above the 20% threshold.

The disclosure was made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this acquisition, Naresh Kumar Agarwal held 15,18,566 shares, which accounted for 8.59% of the total share capital. The transmission of shares occurred on May 29, 2026, effectively doubling the acquirer's stake in the company.

Shareholding Details

The filing outlines the specific changes in the acquirer's holding before and after the transaction. The total equity share capital of Lehar Footwears Limited remains Rs.17,67,87,990, divided into 1,76,78,799 equity shares of Rs. 10 each. There were no changes to the company's diluted share capital or encumbered shares as a result of this transfer.

Transaction Overview

The mode of acquisition was specifically recorded as transmission of shares through inheritance. Naresh Kumar Agarwal confirmed that no other instruments, such as warrants or convertible securities, were involved in the transaction. The acquirer also confirmed that there were no voting rights held otherwise than by shares, nor were there any shares encumbered before or after the acquisition.

The disclosure confirms that the total diluted share and voting capital of the target company remains unchanged at 1,76,78,799 equity shares. The filing was signed and submitted by Naresh Kumar Agarwal in his capacity as a promoter, with the place of recording noted as Jaipur.