Narrative Update • May 23
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Indian (NIFTY) Footwear Industry Analysis
UpdatedMay 26, 2026
DataAggregated Company Financials
Companies10
- 7D3.0%
- 3M-12.2%
- 1Y-33.9%
- YTDn/a
The Footwear is pretty flat in the last 7 days, but Relaxo Footwears has stood out, gaining 4.2%. As for the longer term, the industry has declined 34% in the last year. Looking forward, earnings are forecast to grow by 19% annually.
Industry Valuation and Performance
Has the Indian Footwear Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 26 May 2026 | ₹250.5b | ₹100.1b | ₹5.2b | 40.7x | 48x | 2.5x |
| Thu, 23 Apr 2026 | ₹267.8b | ₹98.2b | ₹5.4b | 42.8x | 50x | 2.7x |
| Sat, 21 Mar 2026 | ₹235.4b | ₹98.4b | ₹5.4b | 36.8x | 43.8x | 2.4x |
| Mon, 16 Feb 2026 | ₹298.4b | ₹98.9b | ₹5.4b | 32.3x | 55.1x | 3x |
| Wed, 14 Jan 2026 | ₹307.6b | ₹97.8b | ₹5.3b | 25.4x | 58.3x | 3.1x |
| Fri, 12 Dec 2025 | ₹321.4b | ₹97.8b | ₹5.3b | 28.6x | 60.9x | 3.3x |
| Sun, 09 Nov 2025 | ₹345.6b | ₹97.3b | ₹5.2b | 42x | 66.6x | 3.6x |
| Tue, 07 Oct 2025 | ₹368.2b | ₹97.6b | ₹5.6b | 44.7x | 66.2x | 3.8x |
| Thu, 04 Sep 2025 | ₹373.9b | ₹97.6b | ₹5.6b | 44.9x | 67.2x | 3.8x |
| Sat, 02 Aug 2025 | ₹361.9b | ₹96.7b | ₹6.6b | 42.7x | 54.8x | 3.7x |
| Mon, 30 Jun 2025 | ₹367.8b | ₹97.2b | ₹6.5b | 49.3x | 56.5x | 3.8x |
| Wed, 28 May 2025 | ₹376.8b | ₹96.6b | ₹6.7b | 47.2x | 56.4x | 3.9x |
| Fri, 25 Apr 2025 | ₹360.3b | ₹96.7b | ₹6.7b | 58.8x | 53.4x | 3.7x |
| Sun, 23 Mar 2025 | ₹358.1b | ₹96.7b | ₹6.7b | 49.9x | 53.1x | 3.7x |
| Tue, 18 Feb 2025 | ₹382.5b | ₹96.7b | ₹6.7b | 55x | 56.7x | 4x |
| Thu, 16 Jan 2025 | ₹416.4b | ₹96.3b | ₹6.6b | 61.5x | 62.8x | 4.3x |
| Sat, 14 Dec 2024 | ₹455.1b | ₹96.3b | ₹6.6b | 61.5x | 68.6x | 4.7x |
| Mon, 11 Nov 2024 | ₹478.0b | ₹95.5b | ₹6.5b | 56.5x | 73.2x | 5x |
| Wed, 09 Oct 2024 | ₹491.4b | ₹95.9b | ₹6.4b | 56.8x | 76.8x | 5.1x |
| Fri, 06 Sep 2024 | ₹497.9b | ₹95.9b | ₹6.4b | 60.9x | 77.8x | 5.2x |
| Sun, 04 Aug 2024 | ₹535.1b | ₹95.7b | ₹5.8b | 72.3x | 92.5x | 5.6x |
| Tue, 02 Jul 2024 | ₹507.0b | ₹95.7b | ₹5.9b | 55.3x | 85.9x | 5.3x |
| Thu, 30 May 2024 | ₹483.9b | ₹95.6b | ₹5.9b | 58.2x | 82.5x | 5.1x |
| Sat, 27 Apr 2024 | ₹475.4b | ₹95.5b | ₹5.8b | 56.6x | 81.9x | 5x |
| Mon, 25 Mar 2024 | ₹467.7b | ₹95.5b | ₹5.8b | 56.2x | 80.5x | 4.9x |
| Wed, 21 Feb 2024 | ₹483.7b | ₹95.5b | ₹5.8b | 59.6x | 83.3x | 5.1x |
| Fri, 19 Jan 2024 | ₹515.0b | ₹95.0b | ₹6.2b | 63.6x | 82.7x | 5.4x |
| Sun, 17 Dec 2023 | ₹537.7b | ₹95.1b | ₹6.2b | 56.7x | 86.6x | 5.7x |
| Tue, 14 Nov 2023 | ₹520.6b | ₹95.1b | ₹6.2b | 56.3x | 83.7x | 5.5x |
| Thu, 12 Oct 2023 | ₹538.3b | ₹95.5b | ₹6.5b | 41.8x | 83.3x | 5.6x |
| Sat, 09 Sep 2023 | ₹561.8b | ₹95.5b | ₹6.5b | 39.5x | 86.8x | 5.9x |
| Mon, 07 Aug 2023 | ₹561.1b | ₹95.1b | ₹6.6b | 39x | 85.6x | 5.9x |
| Wed, 05 Jul 2023 | ₹542.7b | ₹95.0b | ₹6.5b | 36.1x | 84.1x | 5.7x |
| Fri, 02 Jun 2023 | ₹534.7b | ₹93.9b | ₹6.4b | 33.9x | 83.2x | 5.7x |
Price to Earnings Ratio
83.2x
Current Industry PE
- Investors are pessimistic on the Indian Footwear industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 47.7x which is lower than its 3-year average PE of 70.0x.
- The 3-year average PS ratio of 4.5x is higher than the industry's current PS ratio of 2.5x.
Past Earnings Growth
- The earnings for companies in the Footwear industry have declined 6.7% per year over the last three years.
- Meanwhile revenues for these companies have grown 2.1% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Comparison
How does Indian Footwear compare with similar industries?
| IN Market | 2.23% | |
| Consumer Discretionary | 2.89% | |
| Luxury | 1.40% | |
| Footwear | 3.00% | |
| Textiles | 1.63% | |
| Apparel, Accessories and Luxury Goods | 1.27% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 530517 Relaxo Footwears | ₹298.65 | 4.2% +₹3.0b | -32.2% | PE44.3x | |
| 500043 Bata India | ₹696.20 | 2.4% +₹2.1b | -45.8% | PE50.3x | |
| CAMPUS Campus Activewear | ₹236.05 | 2.2% +₹1.6b | -14.8% | PE51.2x | |
| MIRZAINT Mirza International | ₹31.03 | 6.3% +₹252.9m | -0.7% | PE50.5x | |
| LIBERTSHOE Liberty Shoes | ₹249.75 | 5.1% +₹207.9m | -46.1% | PE37x |
