Liberty Shoes Ltd convened its 40th Annual General Meeting on September 29, 2026, via video conferencing. The meeting concluded with the adoption of financial statements for FY26 and discussions on strategic brand management.

Key resolutions adopted

Shareholders approved several ordinary and special resolutions during the meeting. The audited financial statements for the year ended March 31, 2026, were received and adopted without any qualifications from statutory or secretarial auditors.

The following director appointments and re-appointments were approved:

Strategic outlook on brand dependencies

Anupam Bansal, Executive Director and Chairman of the meeting, addressed member queries regarding the company's operational structure. He highlighted that existing arrangements relating to certain brands and business support are currently valid until March 2028.

The company is actively evaluating options for the period after this date, including renewal, continuation, or acquisition of relevant brand rights. Additionally, Liberty Shoes plans to further develop its own brands to reduce dependency on any single arrangement. Management stated that the company possesses adequate manufacturing capabilities, retail networks, and outsourcing partners to ensure business continuity.

Meeting proceedings and attendance

The meeting commenced at 11:00 am and concluded at 11:53 am. Sixty-five members attended in person, while no authorized representatives were present. Proxy facilities were dispensed with as the meeting was held through video conferencing.

Twenty-eight members registered to speak or ask questions. Nine members spoke directly during the session, while others submitted queries via the chat box. The Chairman responded to spoken queries immediately, while written responses to chat-based questions will be provided subsequently.

Governance and compliance

The meeting was conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. E-voting results, supervised by scrutinizer Jyoti Sharma of JVS & Associates, will be submitted separately and made available on the company website.

Liberty Shoes has scheduled its 40th Annual General Meeting for Tuesday, September 29, 2026, at 11:00 am via video conferencing. The meeting will address key governance matters, including the appointment of Raman Bansal as Executive Director and the reappointment of independent directors Piyush Dixit and Anand Das Mundhra.

Financial Performance Overview

For FY26, the company reported revenue from operations of ₹73,999.11 lakh, a 9.55% increase from ₹67,548.06 lakh in FY25. However, net profit declined 20.49% to ₹1,118.95 lakh, down from ₹1,356.13 lakh in the previous year.

The moderation in profitability despite revenue growth was primarily driven by rising input and raw material costs, increased minimum wages, and higher employee benefit expenses. These operational cost pressures offset the benefits of higher sales volumes.

What the Numbers Show

While top-line growth indicates sustained demand across retail and digital channels, the divergence between revenue and profit trends highlights margin compression. Employee benefit expenses rose to ₹14,640.92 lakh from ₹12,706.97 lakh, reflecting statutory wage increases and headcount expansion. This structural cost increase, combined with raw material inflation, constrained bottom-line expansion despite a 9.55% rise in turnover.

Key AGM Resolutions

Shareholders will vote on several special resolutions:

• Appointment of Executive Director: Approval for the appointment of Sh. Raman Bansal as Executive Director for three years, effective August 10, 2026. His proposed remuneration is ₹120 lakh per annum, subject to shareholder approval under Schedule V of the Companies Act due to inadequate profits.
• Reappointment of Independent Directors: Reappointment of Sh. Piyush Dixit and Sh. Anand Das Mundhra for a second term of three years each.
• Ordinary Business: Adoption of audited financial statements for FY26 and reappointment of directors retiring by rotation, including Sh. Ashok Kumar and Sh. Anupam Bansal.

Operational Updates

The company highlighted growth in its e-commerce division, which achieved over ₹150 crore in net revenue, up approximately 15% year-on-year. Quick commerce channels saw significant expansion, with platforms like Blinkit, Swiggy, and Zepto growing approximately four times year-on-year. The offline retail network has crossed 450 stores, with plans to add 100+ new stores in the coming year.

No dividend was recommended for FY26, as the board prioritized reinvestment into business growth and working capital management.