Lehar Footwears shares rebound 10% as company mulls expansion

Shares of Lehar Footwears rebounded from initial cuts and surged 10 per cent on Friday as the company mulls expansion with more product launches. The footwear manufacturer has delivered multibagger returns to investors in the last one year.

Shares of Lehar Footwears, which are listed only on BSE, jumped about 10 per cent to Rs 107.7 on Friday from its day's low at Rs 98. However, the stock settled at Rs 100.13 on Thursday. The microcap counter has surged about 17 per cent in the last two sessions.

Shares of Lehar Footwears have gained about 190 per cent in the last one year, while the stock is up 35 per cent in the last one month. The stock has zoomed more than 225 per cent in less than 11 months from its 52-week low at Rs 33 on June 16, 2022.

The footwear company has left peers behind in terms of returns in recent days. While shares of Bata India and Relaxo Footwears have delivered a negative return of up to 10 per cent to the investors in the last one year, Sreeleathers and Khadim have risen 10 per cent and 18 per cent, respectively. Metro Brands has surged 75 per cent during the period under review.

Since 1995, Lehar Footwears is a regional mass-footwear manufacturer of high-quality and stylish non-leather rubber footwear, EVA/PVC/PU injected footwear. It has an installed capacity of 2 crore pairs per year. The company also exports footwear to Asian, African and Middle East nations. It has four manufacturing plants situated at Jaipur and Chomu, Rajasthan.

According to the shareholding pattern, promoters own a 70.82 per cent stake in the company while the remaining 29.18 per cent is held by the public.

The company recently informed exchanges that it has appointed Bollywood actor Govinda as its brand ambassador as it looks to expand its footprints in Tier-II, Tier-III cities and rural markets. The company also announced its ‘The Lehar way’ campaign, which has been approved by the government.