Liberty Shoes Limited (LIBERTSHOE)

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Liberty Shoes Limited (LIBERTSHOE) · mywealthgrid

About

Liberty Shoes Limited manufactures footwear in Consumer Discretionary sector. Market cap ₹421.69 Cr, quarterly revenues ₹170-₹212 Cr indicate mid-sized domestic player. Recent performance shows margin compression and profit volatility.

Founded: 1954
Face value: ₹10

Market cap

₹369 Cr

P/E

43.2×

P/B

1.6×

Dividend yield

ROE

4.9%

ROCE

Debt / equity

0.34

OPM

8.7%

EPS (TTM)

₹5.0

Book value

₹137.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE 49.38 vs ROE 4.9% implies growth pricing; flat revenue ₹160-₹212 Cr over 8 quarters = material downside if growth stalls
Operating margin fell from 13.39% (Mar 2025) to 7.95% (Jun 2026); thin margins amplify leverage and limit room for deterioration
Net profit swings ₹0.59-₹5.61 Cr per quarter; volatility impairs earnings quality — verify if seasonal, one-offs, or structural
Stock down 19.8% in 1y; verify if market concerns reflect product/brand weakness or competitive losses in footwear

Generated analysis · source review pending

Growth drivers

Margins hit 13.39% in Mar 2025, now 7.95%; restoration = 30-40% profit growth on flat revenues — verify compression causes
Footwear market in India grows 5-8% annually; verify if Liberty captures category growth or if -19.8% stock decline reflects structural weakness
D/E 0.34 provides borrowing capacity for expansion capex if returns improve — verify capex plans and ROE recovery

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹216.8-3.9%1Y

Quick read

rule-based

Pros

+Profit CAGR of 113.9% over the last 5 years

Cons

−Low return on equity of 5.6% (3-yr avg)
−Weak interest coverage of 1.9×

Research score

Structured signal from quality, growth, valuation and momentum.

30/100

Business quality: 23
Growth: 7
Valuation: 59

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	452	497	551	602	652	458	488	654	637	675	740
COGS	-212	-241	-287	-307	-341	214	238	325	304	310	349
Gross profit	—	—	—	—	—	244	250	330	332	366	391
	623	699	798	868	948	193	204	268	265	296	327
	41	39	40	41	46	51	45	62	67	69	64
OPM %	9.2%	7.9%	7.3%	6.9%	7%	11.2%	9.3%	9.4%	10.5%	10.3%	8.7%
Depreciation	14	14	13	13	19	34	29	32	34	33	34
Interest	16	16	16	15	14	14	12	12	14	13	16
	-1	0	-0	0	5	-0	-0	-0	-5	-2	1
Profit before tax	12	10	11	13	18	2	4	18	15	21	15
Tax	2	4	4	7	7	2	2	5	4	7	4
Tax %	17.5%	35.6%	39.5%	49.2%	38.3%	89.4%	43.7%	27.7%	27.1%	35%	25.3%
	10	7	7	7	11	0	2	13	11	14	11
PAT margin %	2.3%	1.3%	1.2%	1.1%	1.7%	0.1%	0.5%	2%	1.8%	2%	1.5%
EPS (₹)	6	—	3.9	4	6.5	0.2	1.5	7.9	6.4	7.9	6.6
EPS adjusted (₹)	—	—	—	—	6.5	0.2	1.3	7.6	6.6	8	6.6
	0%	—	0%	0%	0%	0%	0%	31.7%	0%	0%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	17	17	17	17	17	17	17
Reserves	—	169	172	181	192	206	217
	—	96	61	87	70	74	80
	—	235	182	185	184	200	209
Total equity & liabilities	—	517	432	471	464	497	523
	178	153	136	160	88	92	98
CWIP	—	0	0	0	0	4	4
Investments	—	1	0	0	0	0	0
	—	363	295	310	376	401	421
Total assets	—	517	432	471	464	497	523

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	53.3%	51.2%	50.4%	52.2%	54.1%	52.8%
EBITDA margin %	6.9%	7%	11.2%	9.3%	9.4%	10.5%	10.3%	8.7%
EBIT margin %	4.6%	4.2%	3.7%	3.3%	4.6%	5.2%	5.4%	4.1%
PAT margin %	1.1%	1.7%	0.1%	0.5%	2%	1.8%	2%	1.5%
Working capital
Receivable days	—	—	87	72	49	56	63	54
Inventory days	—	—	347	257	218	190	205	189
Payable days	—	—	214	122	85	80	78	72
NWC days	—	—	220	208	182	166	190	171
Leverage
Current ratio	—	—	1.58	1.89	1.76	1.85	1.91	1.89
Debt to EBITDA	—	—	1.87	1.34	1.41	1.05	1.07	1.24
Debt to equity	—	—	0.51	0.32	0.44	0.34	0.33	0.34
Interest coverage	1.9	1.9	1.2	1.3	2.5	2.5	2.8	1.9
Asset turnover	—	—	0.89	1.13	1.39	1.37	1.36	1.42
Return ratios
Return on assets %	—	—	0%	0.5%	2.7%	2.4%	2.7%	2.1%
Return on capital employed %	—	—	5.9%	5.8%	10.5%	11.2%	11.5%	9%
Return on equity %	—	—	0.1%	1.2%	6.5%	5.3%	6.1%	4.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	58.5%	58.5%	58.5%	58.5%	58.36%	58.32%	58.32%	58.32%	58.52%	58.46%	59.1%	59.33%
	0.15%	0%	0.67%	0.64%	0.56%	0.67%	0.74%	0.39%	0.17%	0.19%	0.11%	0.1%
DII	0%	0%	0.03%	0.03%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	41.35%	41.5%	40.8%	40.83%	41.08%	41.01%	40.94%	41.29%	41.31%	41.35%	40.79%	40.57%
No. of shareholders	—	—	—	—	—	—	—	—	21,561	21,434	21,548	21,331

Promoter holding up 0.83 percentage points since Sep 2023.

3 disclosures

Person	Deal	Shares	Value	Holding	Filed
ARYAN BANSALPromoter Group	BuyMarket Purchase	15,000	₹59.5 L	0.00% → 0.09%	17 Oct 20257(2)
Shammi BansalPromoters	BuyOthers	2,720	₹27,200

113 deals · 30 Aug 2021 – 5 May 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
5 May 2025	ANKITA VISHAL SHAH	Bulk	NSE	Buy	1,07,364	₹448.80	₹4.82 Cr
5 May 2025	ANKITA VISHAL SHAH	Bulk	NSE	Sell	1,07,364	₹451.75	₹4.85 Cr
30 Jan 2024	JAINAM BROKING LIMITED	Bulk	NSE	Buy	1,57,002	₹380.92	₹5.98 Cr
30 Jan 2024	JAINAM BROKING LIMITED	Bulk	NSE	Sell	1,09,902	₹388.42	₹4.27 Cr
24 Jan 2024	ANKITA VISHAL SHAH	Bulk	NSE	Buy	1,90,998	₹376.70	₹7.19 Cr
24 Jan 2024	ANKITA VISHAL SHAH	Bulk	NSE	Sell	1,75,998	₹377.56	₹6.64 Cr
19 Jan 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	3,85,075	₹368.52	₹14.19 Cr
19 Jan 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	3,85,075	₹368.63	₹14.20 Cr
19 Jan 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	2,14,389	₹370.38	₹7.94 Cr
19 Jan 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	1,99,660	₹370.97	₹7.41 Cr

1–10 of 113

1 / 12

Mr. Anupam BansalExecutive Director-Chairperson related to Promoter
Mr. Shammi BansalExecutive Director
Mr. Adish GuptaExecutive Director
Mr. Ashok KumarExecutive Director
Mr. Piyush DixitNon-Executive - Independent Director
Mrs. SujataNon-Executive - Independent Director
Mr. Anand Das MundhraNon-Executive - Independent Director
Mr. Neeraj Kumar JindalNon-Executive - Independent Director
Munish KakraChief Financial Officer, Company Secretary and Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Liberty Shoes Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Re-affirmation of CARE Credit Ratings for Bank Facilities-Liberty Shoes Limited20 Dec 2025 from CARE

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

3

Interim dividend22 Sept 2022 · ex-date₹2.5
Dividend dividend21 Sept 2015 · ex-date₹1.5
Final dividend19 Sept 2014 · ex-date₹1.5

1

Board meeting to consider results10 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

24 announcementsExport CSV

30 Sept 2026, 5:02 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	53.3%	51.2%	50.4%	52.2%	54.1%	52.8%
EBITDA margin %	6.9%	7%	11.2%	9.3%	9.4%	10.5%	10.3%	8.7%
EBIT margin %	4.6%	4.2%	3.7%	3.3%	4.6%	5.2%	5.4%	4.1%
PAT margin %	1.1%	1.7%	0.1%	0.5%	2%	1.8%	2%	1.5%
Working capital
Receivable days	—	—	87	72	49	56	63	54
Inventory days	—	—	347	257	218	190	205	189
Payable days	—	—	214	122	85	80	78	72
NWC days	—	—	220	208	182	166	190	171
Leverage
Current ratio	—	—	1.58	1.89	1.76	1.85	1.91	1.89
Debt to EBITDA	—	—	1.87	1.34	1.41	1.05	1.07	1.24
Debt to equity	—	—	0.51	0.32	0.44	0.34	0.33	0.34
Interest coverage	1.9	1.9	1.2	1.3	2.5	2.5	2.8	1.9
Asset turnover	—	—	0.89	1.13	1.39	1.37	1.36	1.42
Return ratios
Return on assets %	—	—	0%	0.5%	2.7%	2.4%	2.7%	2.1%
Return on capital employed %	—	—	5.9%	5.8%	10.5%	11.2%	11.5%	9%
Return on equity %	—	—	0.1%	1.2%	6.5%	5.3%	6.1%	4.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Metro Brands LimitedMETROBRANDMETROBRAND	₹22,721 Cr	₹22,721 Cr	₹2,311 Cr	₹719 Cr	30.3%	₹339 Cr	14.5%	21.4%	22.2%	188
Bata India LimitedBATAINDIABATAINDIA	₹7,877 Cr	₹7,877 Cr	₹3,553 Cr	₹712 Cr	20.1%	₹146 Cr	3.8%	12.8%	8.5%	107
Relaxo Footwears LimitedRELAXORELAXO	₹7,102 Cr	₹7,102 Cr	₹2,753 Cr	₹383 Cr	13.8%	₹185 Cr	6.6%	11.1%	8.3%	138
Campus Activewear LimitedCAMPUSCAMPUS	₹6,292 Cr	₹6,467 Cr	₹1,194 Cr	₹242 Cr	20.2%	₹125 Cr	10.4%	38.1%	33.8%	137
Redtape LimitedREDTAPEREDTAPE	₹1,593 Cr	₹1,979 Cr	₹2,436 Cr	₹438 Cr	14.4%	₹246 Cr	10%	31.8%	26.6%	240
Sreeleathers LimitedSREELSREEL	₹679 Cr	₹679 Cr	₹258 Cr	₹38 Cr	13.6%	₹33 Cr	11.6%	7.8%	6%	-6
Liberty Shoes LimitedLIBERTSHOELIBERTSHOE	₹369 Cr	₹448 Cr	₹737 Cr	₹62 Cr	8.7%	₹9 Cr	1.5%	9%	4.9%	171
Lehar Footwears LtdLEHARLEHAR	₹351 Cr	₹403 Cr	₹147 Cr	₹8 Cr	9%	₹1 Cr	4.8%	24.5%	17%	86
Khadim India LimitedKHADIMKHADIM	₹209 Cr	₹330 Cr	₹349 Cr	₹45 Cr	13.4%	₹3 Cr	0.8%	9.3%	1.5%	216
Ksr Footwear LimitedKSRKSR	₹69 Cr	₹85 Cr	₹200 Cr	₹-3 Cr	-4.2%	₹-8 Cr	-6.4%	-13.8%	-16.9%	70
Sarup Industries LtdSARUPINDUSSARUPINDUS	₹36 Cr	₹72 Cr	₹10 Cr	₹-0 Cr	9.3%	₹-4 Cr	3.5%	4%	—	1,752
Marc Loire Fashions LtdMARCLOIREMARCLOIRE	₹28 Cr	—	₹35 Cr	₹2 Cr	6.8%	₹2 Cr	5%	—	—	—

Date	Category	Subject	Filing
30 Sept 2026, 5:02 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Sept 2026, 9:10 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 7:48 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
29 Sept 2026, 7:04 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
3 Sept 2026, 9:46 pm	AGM/EGM AGM	Notice Of AGM-Liberty Shoes Limited	PDF
3 Sept 2026, 9:35 pm	Company Update General	Intimation -Liberty Shoes Limited	PDF
3 Sept 2026, 8:43 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
18 Aug 2026, 4:38 pm	Company Update General	Filing Of Application With Stock Exchange Regarding Reclassification Of Two Promoters To Public	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	33	38	94	88	75	80
	-10	-9	-56	-44	-44	-45
	-24	-30	-39	-43	-30	-35
Net cash flow	-1	-1	-0	1	0	-0
Free cash flow	15	18	33	48	27	34
CFO / Operating profit %	63.8%	83.7%	152.2%	131.3%	107.6%	124%

Liberty Shoes Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

3

1

Announcements

3

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Compounded sales growth

Compounded profit growth

Return on equity

Liberty Shoes Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

Dividends3

Board meetings1

Announcements

Dividends3

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

1

3

1