Press Release for the quarter and nine months ended 31st December, 2025.
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Lehar Footwears reported Q3FY26 revenue of ₹57.1 crore, down 15% year-on-year due to a 55% drop in the Toolkit segment caused by order delivery being shifted to the next quarter. The footwear segment, however, grew 18% year-on-year, supported by new premium product launches and the ramp-up of its new athleisure facility at Kundli. For the nine-month period, revenue more than doubled to ₹339.8 crore (vs ₹167.8 crore in 9MFY25), while profit after tax nearly tripled to ₹16.7 crore with PAT margin improving to 4.9%. EBITDA margins also strengthened to 9.9% in Q3, aided by a better product mix and lower finance costs from debt reduction. The company also received a credit rating upgrade to Crisil BBB/Stable/Crisil A3+, reflecting improved financial health. The Toolkit business has an order book of around ₹60 crore (~40,000 toolkits) to be delivered in Q4FY26, and the government's proposed ₹3,861 crore allocation for the PM Vishwakarma Scheme in FY26-27 is a key positive.
Short-term dip in quarterly revenue may pressure the stock, but the strong nine-month performance, footwear growth momentum, credit rating upgrade, and a healthy order pipeline suggest the quarterly weakness is transient rather than structural.