Lehar Footwears revenue falls 29% as September profit drops

Lehar Footwears Limited reported revenue from operations of Rs 100.06 crore for the quarter ended 30 September 2026, down 29% from Rs 140.52 crore a year earlier, while net profit fell 37% to Rs 4.58 crore. Revenue and profit nevertheless increased from Rs 74.95 crore and Rs 3.01 crore respectively in the June 2026 quarter.

How did Lehar Footwears perform in the September 2026 quarter?

Lehar Footwears recorded total income of Rs 100.33 crore in the September 2026 quarter, compared with Rs 140.59 crore in the September 2025 quarter and Rs 75.01 crore in the preceding June 2026 quarter. Other income was Rs 26.93 lakh, against Rs 7.10 lakh a year earlier, while operating revenue declined by Rs 40.46 crore year on year.

Profit before tax was Rs 6.10 crore, down from Rs 10.07 crore in the year-earlier quarter, and net profit was Rs 4.58 crore versus Rs 7.29 crore. Basic and diluted earnings per share were Rs 2.58, compared with Rs 4.13 in September 2025 and Rs 1.71 in June 2026; Lehar Footwears said quarterly earnings per share were not annualised.

Why did Lehar Footwears' year-on-year profit decline?

Lehar Footwears' total expenses declined to Rs 94.22 crore in the September 2026 quarter from Rs 130.52 crore a year earlier, but this reduction did not fully match the decline in total income. Profit before exceptional items and tax consequently fell by Rs 3.97 crore to Rs 6.10 crore; the financial statement did not report an exceptional item for the quarter.

The expense composition changed between the two September quarters. Purchases of stock-in-trade fell to Rs 17.36 crore from Rs 65.85 crore, while cost of materials consumed increased to Rs 48.30 crore from Rs 24.95 crore. Employee benefits expense rose to Rs 8.13 crore from Rs 4.32 crore, depreciation and amortisation reached Rs 1.73 crore from Rs 1.38 crore, and finance cost increased to Rs 1.46 crore from Rs 1.22 crore.

Which segments affected Lehar Footwears' September-quarter revenue?

Lehar Footwears' Footwear, Accessories and other like Products segment reported Rs 100.23 crore of revenue in the September 2026 quarter, compared with Rs 48.78 crore a year earlier, while Tool Kit and Others reported negative revenue of Rs 17.43 lakh. The company reported nil inter-segment transfer in the latest quarter, against negative Rs 12.64 crore in September 2025.

Tool Kit and Others had reported Rs 104.39 crore of revenue in September 2025 and Rs 16.80 crore in June 2026. Lehar Footwears said the negative September 2026 revenue reflected Rs 32.48 lakh of sales returns relating to earlier-period sales, with those returns exceeding fresh sales by Rs 17.43 lakh.

Segment profit before interest and tax also diverged. Footwear, Accessories and other like Products reported Rs 7.34 crore, up from Rs 4.09 crore in September 2025, whereas Tool Kit and Others recorded a loss of Rs 4.64 lakh after a Rs 7.13 crore profit a year earlier. Total segment profit before interest and tax declined to Rs 7.29 crore from Rs 11.22 crore.

What do Lehar Footwears' half-year results show?

Lehar Footwears reported revenue from operations of Rs 175.01 crore for the half year ended 30 September 2026, down from Rs 282.72 crore in the corresponding prior-year half. Net profit declined to Rs 7.59 crore from Rs 14.56 crore, while profit before tax decreased to Rs 10.13 crore from Rs 19.80 crore.

Purchases of stock-in-trade for the half year fell to Rs 26.18 crore from Rs 161.68 crore, while cost of materials consumed increased to Rs 86.50 crore from Rs 52.55 crore. Employee benefits expense rose to Rs 15.47 crore from Rs 7.39 crore, depreciation and amortisation increased to Rs 3.38 crore from Rs 2.76 crore, and finance cost was Rs 2.85 crore in both half-year periods.

The segment mix changed over the six months ended 30 September 2026. Footwear, Accessories and other like Products revenue was Rs 159.92 crore, compared with Rs 107.81 crore in the prior-year half, while Tool Kit and Others revenue declined to Rs 16.63 crore from Rs 193.40 crore. The reported total included negative inter-segment transfer of Rs 1.54 crore, versus negative Rs 18.49 crore a year earlier.

What changed in Lehar Footwears' cash flow and balance sheet?

Lehar Footwears' total assets stood at Rs 303.27 crore on 30 September 2026, compared with Rs 273.02 crore at 31 March 2026. Trade receivables rose to Rs 94.72 crore from Rs 77.70 crore, while inventories were Rs 78.96 crore against Rs 78.72 crore. Cash and cash equivalents declined to Rs 19.38 lakh from Rs 224.64 lakh over the same dates.

Net cash flow from operating activities was an outflow of Rs 28.93 lakh for the half year ended 30 September 2026, compared with an inflow of Rs 18.09 crore in the prior-year half. The cash-flow statement recorded a Rs 17.02 crore increase in trade receivables and a Rs 9.11 crore increase in other current assets, partly offset by a Rs 12.75 crore increase in other current liabilities.

Investing cash outflow was Rs 13.76 crore, including Rs 14.09 crore spent on property, plant and equipment. Financing activities generated Rs 12.00 crore, compared with an outflow of Rs 15.01 crore a year earlier, after Rs 10.65 crore of long-term borrowing proceeds and Rs 5.88 crore of short-term borrowing proceeds. Non-current borrowings stood at Rs 11.34 crore on 30 September 2026, compared with Rs 61.93 lakh at 31 March 2026.

Conclusion

Lehar Footwears' September-quarter result combined a 29% year-on-year fall in operating revenue with a 37% decline in net profit, although both measures improved from the June 2026 quarter. The reported mix shifted substantially, as Footwear, Accessories and other like Products revenue increased year on year while Tool Kit and Others moved to negative quarterly revenue following earlier-period sales returns.

The next results will show whether Tool Kit and Others records further sales returns after the Rs 32.48 lakh return reported in the September quarter. Receivables of Rs 94.72 crore on 30 September 2026, operating cash outflow of Rs 28.93 lakh for the half year, and the increase in non-current borrowings to Rs 11.34 crore are also disclosed matters to monitor.