Lehar Footwears Q1 FY27 Results: Revenue Declines 47%, EBITDA Margin Improves

"Footwear revenue grew by 9% YoY to Rs 58.1 crore, with healthy momentum supported by new product launches and a richer mix."

Lehar Footwears Q1 FY27 Revenue and Profit Performance

Lehar Footwears reported total revenue of Rs 74.9 crore in Q1 FY27, down from Rs 142.2 crore in Q1 FY26. Despite inflation, muted exports and Iran-war-related export supply-chain disruptions, the company's Footwear business grew 9% YoY to Rs 58.1 crore.

Profit After Tax (PAT) stood at Rs 3.0 crore, compared with Rs 7.2 crore in Q1 FY26.

EBITDA declined to Rs 7.0 crore from Rs 12.7 crore in the corresponding quarter last year. However, the EBITDA margin improved to 9.4% from 8.9%.

The results highlight continued growth in the core Footwear business and improved EBITDA margins despite a decline in overall revenue and profit.

Lehar Footwear Business Grows Despite Overall Revenue Decline

The company's Footwear segment continued to perform well during the quarter.

Growth was supported by:

• New product launches and a richer product mix.
• Growth in premium and fashion ranges.
• Increased presence across trade distribution and large-format stores such as D-Mart and Reliance Retail.
• Continued growth in OEM supplies of sports shoes to leading athleisure brands.

The company also launched its own D2C website, RANNR, and expanded its presence across e-commerce platforms such as Flipkart, Myntra and Amazon.

Toolkit Business Sees Sharp Revenue Decline

Toolkit revenue fell to Rs 16.8 crore from Rs 89 crore in Q1 FY26. During the quarter, the company completed supplies of 2.5 lakh toolkits under the PM Vishwakarma Scheme.

Expansion and Order Pipeline Support FY27 Outlook

Lehar Footwears is progressing with the phased expansion of its Kundli (Sonipat) facility, with capacity being scaled from approximately 1 lakh pairs to 2 lakh pairs per month. Commercial operations are expected to commence from September 2026.

The company also has an OEM order of approximately Rs 40 crore that is expected to be executed in the upcoming quarter. The expanded Kundli capacity is expected to support higher order volumes without capacity constraints.

The company expects the second half of FY27 to be more meaningful, supported by encouraging demand for athleisure and closed footwear.

What to Watch Next

• Investors may track whether the footwear business continues its growth momentum in the coming quarters.
• They may monitor the execution of the Rs 40 crore OEM order and its contribution to revenue.
• Investors may also watch the September 2026 commissioning of the expanded Kundli facility and its impact on production capacity.
• The recovery of the Toolkit business and the company's ability to maintain improved EBITDA margins will also remain important.