Best Footwear Stocks in India

The Indian footwear industry is expected to grow substantially over the coming years. It is expected that India's footwear industry will grow by 13% annually by FY28, reaching Rs 191,000 crore. Investing in footwear stocks can be a great option for investors because of the industry's strong growth potential. This blog will provide you with an overview of the best footwear stocks in India, 

factors to consider before investing, and how to start your investment journey.

Footwear Stocks in India: Overview

India's footwear market is huge and booming, thanks to the growing population, increasing incomes, and a strong focus on fashion. From formal shoes to casual and sports footwear, there's something for everyone in this diverse sector. If you're thinking about investing in footwear stocks, it's important to check out the brand strength, market share, and growth strategies of the companies in this sector. It's also crucial to look at financial performance, consumer trends, and broader market indicators to gauge the potential for growth. The ongoing shift to digital sales and the growing preference for online shopping are making this sector even more promising.


List of Best Footwear Stocks

The following is the list of footwear stocks in India

Company Name



Market Cap


52 Week High

52 Week Low

Relaxo Footwears Ltd Footwear₹ 835₹ 20,795 Cr103.09974758.25
Liberty ShoesFootwear₹ 392₹ 670 Cr61.41424.65224.95
Bata India Ltd.Footwear₹ 1,459₹ 18,759 Cr.71.231,771 1,269
Campus Activewear Ltd.Footwear₹ 288₹ 8,794 Cr.96.74338.90 213
Mirza International LtdFootwear₹ 44.7₹ 617 Cr.51.8263.60 39.55
Superhouse Ltd.Footwear₹ 217₹ 239 Cr.17.71275 190

Disclaimer— All the information mentioned above is accurate as of 25th June 2024. However, it is important to conduct research before making any investment decisions in these stocks.

Overview of Top Footwear Stocks in India

The following is the overview of top footwear stocks in India:

Relaxo Footwear Ltd

Relaxo Footwears Limited, incorporated in 1984, stands as a beacon of excellence in the footwear industry. As the largest footwear manufacturer in India, they have been serving the nation for four decades, earning a place among the top 500 Most Valuable Companies.

  • The company has been maintaining a healthy dividend payout of 34.8%
  • Stock is trading at 10.3 times its book value
  • The company has delivered a sales growth of 4.92% over the past five years.
  • The company has returned on equity of 10.9% over the last 3 years.
  • Company has reported net profit after tax of Rs 61.39 Crore in latest quarter

Liberty Shoes

Liberty Shoes was founded in 1954 and uses its retail, e-commerce, and wholesale network to manufacture and trade footwear, accessories, and lifestyle items.

  • The current stock price is 3.28 times its book value.
  • Over the last five years, the company's revenue growth has been at 1.12%.
  • Over the last three years, the company's return on equity has been 5.17%.
  • The company has reported net profit after tax of Rs 4.98 Crore in the latest quarter.

Bata India Ltd

Bata Corporation was founded in the year 1894 in the Czech Republic. Bata India is primarily engaged in the business of manufacturing and trading of footwear and accessories through its retail and wholesale network.

  • The company is the world's leading shoemaker by volume, having a retail presence of over 5,300 shops in more than 70 countries and production facilities in 18 countries. 
  • The company has reported net profit after tax of Rs 63.65 Crore in the latest quarter.
  • The company has been maintaining a healthy dividend payout of 264%

Campus Activewear Ltd

Founded on September 24, 2008, Campus Activewear Limited, also known as "Campus," is one of the biggest sports and athleisure footwear brands in India in terms of both volume and value.

  • The company's debt has decreased.
  • The number of debtor days decreased from 38.0 to 29.8 days.
  • Company has reported net profit after tax of Rs 32.75 Crore in the latest quarter.

Mirza International Ltd

Mirza International Ltd. was founded in 1979 and is a producer and exporter of finished leather footwear as well as a trader of clothing, footwear, and related goods.

  • The company has reported net profit after tax of Rs 1.19 Crore in the latest quarter.
  • Company is almost debt free.
  • Stock is trading at 1.12 times its book value

Superhouse Ltd

Superhouse Ltd., which was founded in 1980, is a manufacturer and trader of leather goods, textile goods, and leather products.

  • The company has a low interest coverage ratio.
  • Company has had a return on equity of 5.93% over the last 3 years.
  • Dividend payout has been at 4.72% of profits over last 3 years
  • Company has reported net profit after tax of Rs 3.08 Crore in the latest quarter.

Key Points to Consider Before Investing in Footwear Stocks in India 

Mentioned below are the key points one should consider before investing in footwear stocks in India:

Market Position 

Carefully evaluate the company’s market position, brand value, loyalty of customers, and market share. More stability is offered by established brands with a strong presence in the market. 

Quality of Management

A company's performance can be greatly impacted by the quality and experience of its management team. Companies need to hire experienced managers with a proven track record of success. 

Distribution Network

A strong distribution network is important to drive sales and reach new customers. It is important to consider assessing the company's distribution network, including its position in retail shops, e-commerce platforms, and foreign markets. 

Product Innovation

The footwear industry is highly impacted by changing fashion trends and consumer tastes. That's why it is important to check the company’s ability to innovate and adapt to changing consumer preferences. 

Competitive Environment

Evaluate the company's competitive advantages and compare it to its competitors. Develop a strategy to take advantage of the opportunities created by the competitive landscape.

How to Invest in Footwear Stocks?

You can invest in footwear stocks by following one of these approaches:

Conducting Research 

Starting by doing a thorough research about the Indian footwear market is important as it will highlight the market structure and growth trends. With this research you can even explore the preferences of consumers,  fashion trends, and lifestyle changes that will impact the demand of footwear. 


Research about the competitors as only strong companies can provide strong brand equity and a significant market presence. You can also look for both start ups and innovative brands that could potentially outperform established players due to their unique offerings.

Perform Financial Analysis

Analyse the revenue growth and profit margins of potential investments. A lower level of debt indicates a more stable financial situation for the company.

Assess Sustainable Practices 

Practices that are becoming important for consumers and regulators these days are substantial manufacturing processes and environment friendly technologies. It’s important to look for companies that are practising them. 

Evaluate E-commerce Presence

It is important to consider investing in companies that have a strong online presence, given that e-commerce is playing an increasingly major role in driving sales within the footwear industry.

  1. Monitoring Innovations

Stay informed about the technological advancements within the footwear sector, especially focusing on companies that are at the forefront of footwear technology, for example, in the development of smart shoes or eco-friendly materials.

  1. Diversify Your Portfolio

When using a portfolio strategy, it would be great to diversify by including stocks from major brands as well as promising mid-cap stocks. This diversification spreads risk and helps to optimise returns.

  1. Take a Long-Term View

It's important to maintain patience and consider a long-term investment strategy, since the footwear industry is subject to cycles and may take time for investments to reach their full potential and generate substantial returns.

Investing in the Indian footwear sector presents promising opportunities due to the market's growth potential. By using an online trading app individuals can conveniently monitor and invest in key players, assess important  financial indicators, and carefully weigh essential factors before making investment decisions. Engaging in the footwear sector in India can prove to be a great decision, but it is crucial to conduct thorough research and understand  the associated risks.

FAQs on Best Footwear Stocks

One should invest in footwear stocks because they have a good consumer demand, brand power, and a global market.

Yes, the footwear stocks in India has a potential for long-term growth, especially with global expansion and innovation.

One can purchase stocks of footwear companies through brokerage accounts. Before you invest, it's important to research the companies, their financial well-being, growth potential, and their position in the market.

The risks of investing in footwear stocks are change in footwear trends, competition, and economic downturns.

To understand how well footwear businesses are doing financially, you need to look at important numbers like sales growth, profitability ratios, debt-to-equity ratio, return on equity, and cash flow generation.