Reported Earnings • May 27
Full year 2026 earnings released: EPS: ₹6.59 (vs ₹7.96 in FY 2025) Full year 2026 results: EPS: ₹6.59 (down from ₹7.96 in FY 2025). Revenue: ₹7.40b (up 9.6% from FY 2025). Net income: ₹111.9m (down 18% from FY 2025). Profit margin: 1.5% (down from 2.0% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 25
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 3.0% to ₹250. The fair value is estimated to be ₹205, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 4.7%. Announcement • May 15
Liberty Shoes Ltd. to Report Q4, 2026 Results on May 26, 2026 Liberty Shoes Ltd. announced that they will report Q4, 2026 results on May 26, 2026 New Risk • Apr 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (₹4.00b market cap, or US$43.1m). Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹258, the stock trades at a trailing P/E ratio of 38.4x. Average trailing P/E is 16x in the Luxury industry in India. Total returns to shareholders of 19% over the past three years. Buy Or Sell Opportunity • Apr 03
Now 20% overvalued Over the last 90 days, the stock has fallen 17% to ₹235. The fair value is estimated to be ₹195, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 4.7%. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹261, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 17x in the Luxury industry in India. Total returns to shareholders of 31% over the past three years. Buy Or Sell Opportunity • Mar 12
Now 22% overvalued Over the last 90 days, the stock has fallen 14% to ₹240. The fair value is estimated to be ₹196, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 4.7%. New Risk • Feb 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risk Market cap is less than US$100m (₹4.50b market cap, or US$49.6m). Reported Earnings • Feb 15
Third quarter 2026 earnings released: EPS: ₹0.35 (vs ₹1.39 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.35 (down from ₹1.39 in 3Q 2025). Revenue: ₹1.81b (up 13% from 3Q 2025). Net income: ₹5.91m (down 75% from 3Q 2025). Profit margin: 0.3% (down from 1.5% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹287, the stock trades at a trailing P/E ratio of 36.6x. Average trailing P/E is 18x in the Luxury industry in India. Total returns to shareholders of 19% over the past three years. Announcement • Feb 04
Liberty Shoes Ltd. to Report Q3, 2026 Results on Feb 13, 2026 Liberty Shoes Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 Announcement • Jan 09
Liberty Shoes Ltd. Announces Joins Priyanka Vishnoi as Head of Marketing Liberty Shoes Ltd. announced that Priyanka Vishnoi joins as Head of Marketing, bringing over a decade of brand and growth experience. In this new role, Priyanka Vishnoi will drive brand strategy, positioning and annual marketing roadmap for Liberty shoes. She will also lead integrated campaigns to drive brand preference and footfalls and look after PR & CSR initiatives for the Group. Prior to joining Liberty Shoes, Priyanka Vishnoi was with VLCC as Senior Brand Lead where she spearheaded pan-India marketing strategies, blending ATL, BTL, and digital campaigns for new clinic launches, among other things. Priyanka Vishnoi is a seasoned marketing professional with over a decade of experience leading integrated marketing and brand strategies across top consumer brands. Her expertise lies in end-to-end brand launches, campaign management (ATL, BTL, Digital), and driving measurable growth in highly competitive markets. Reported Earnings • Oct 19
Second quarter 2026 earnings released: EPS: ₹1.16 (vs ₹0.54 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.16 (up from ₹0.54 in 2Q 2025). Revenue: ₹1.74b (up 1.4% from 2Q 2025). Net income: ₹19.7m (up 114% from 2Q 2025). Profit margin: 1.1% (up from 0.5% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year. Announcement • Oct 10
Liberty Shoes Ltd. to Report Q2, 2026 Results on Oct 17, 2025 Liberty Shoes Ltd. announced that they will report Q2, 2026 results on Oct 17, 2025 New Risk • Aug 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risk Market cap is less than US$100m (₹5.27b market cap, or US$60.2m). Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: ₹1.95 (vs ₹2.74 in 1Q 2025) First quarter 2026 results: EPS: ₹1.95 (down from ₹2.74 in 1Q 2025). Revenue: ₹1.73b (up 11% from 1Q 2025). Net income: ₹33.3m (down 29% from 1Q 2025). Profit margin: 1.9% (down from 3.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Announcement • Aug 06
Liberty Shoes Ltd., Annual General Meeting, Sep 24, 2025 Liberty Shoes Ltd., Annual General Meeting, Sep 24, 2025, at 11:00 Indian Standard Time. Announcement • Jul 30
Liberty Shoes Ltd. to Report Q1, 2026 Results on Aug 06, 2025 Liberty Shoes Ltd. announced that they will report Q1, 2026 results at 12:08 PM, Indian Standard Time on Aug 06, 2025 Reported Earnings • May 29
Full year 2025 earnings released: EPS: ₹7.92 (vs ₹6.55 in FY 2024) Full year 2025 results: EPS: ₹7.92 (up from ₹6.55 in FY 2024). Revenue: ₹6.76b (up 6.1% from FY 2024). Net income: ₹135.6m (up 22% from FY 2024). Profit margin: 2.0% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 21
Now 23% overvalued Over the last 90 days, the stock has fallen 14% to ₹407. The fair value is estimated to be ₹332, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 7.4%. Announcement • Apr 18
Liberty Shoes Ltd. Announces Reconstitution of Nomination and Remuneration Committee Liberty Shoes Ltd. at the meeting of the Board of Directors of the Company held on 18 April, 2025, consequent to the demise of Sh. Gautam Baid, reconstitution of Nomination and Remuneration committee by inducting Sh. Piyush Dixit, Independent Director of the Company as Member of the Committee effective from 4 April, 2025. Announcement • Apr 07
Liberty Shoes Ltd. Informes the Demise of Sh. Gautam Baid, Independent Director Liberty Shoes Ltd. informed the demise of Sh. Gautam Baid (DIN: 00021400), Independent Director of the Company on 4th April, 2025. Sh. Gautam Baid, had been associated with the Company since 2022, and during his tenure, the Company benefited immensely from his rich experience, wisdom and guidance. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹333, the stock trades at a trailing P/E ratio of 43.9x. Average trailing P/E is 23x in the Luxury industry in India. Total returns to shareholders of 134% over the past three years. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹284, the stock trades at a trailing P/E ratio of 40.6x. Average trailing P/E is 22x in the Luxury industry in India. Total returns to shareholders of 110% over the past three years. New Risk • Feb 14
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 50% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (50% net debt to equity). Large one-off items impacting financial results. Market cap is less than US$100m (₹6.58b market cap, or US$75.8m). Reported Earnings • Feb 13
Third quarter 2025 earnings released: EPS: ₹1.39 (vs ₹0.11 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.39 (up from ₹0.11 in 3Q 2024). Revenue: ₹1.60b (up 5.3% from 3Q 2024). Net income: ₹23.7m (up ₹21.9m from 3Q 2024). Profit margin: 1.5% (up from 0.1% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹6.85b market cap, or US$79.0m). Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹384, the stock trades at a trailing P/E ratio of 60.8x. Average trailing P/E is 29x in the Luxury industry in India. Total returns to shareholders of 144% over the past three years. Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: ₹0.54 (vs ₹1.55 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.54 (down from ₹1.55 in 2Q 2024). Revenue: ₹1.72b (flat on 2Q 2024). Net income: ₹9.21m (down 65% from 2Q 2024). Profit margin: 0.5% (down from 1.5% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 30
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 1.8% to ₹523. The fair value is estimated to be ₹422, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 8.0%. Buy Or Sell Opportunity • Oct 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ₹510. The fair value is estimated to be ₹421, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 8.0%. Buy Or Sell Opportunity • Sep 24
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 37% to ₹524. The fair value is estimated to be ₹421, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 8.0%. Board Change • Sep 01
High number of new directors Executive Director Anupam Bansal was the last director to join the board, commencing their role in 2024. Announcement • Aug 22
Liberty Shoes Ltd. Approves Appointment of Sh. Anupam Bansal as Executive Director Liberty Shoes Ltd. at its AGM held on August 22, 2024 approved appointment of Sh. Anupam Bansal as Executive Director of the company. New Risk • Aug 12
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Dividend is not well covered by earnings (0% payout ratio). Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Buy Or Sell Opportunity • Aug 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 56% to ₹514. The fair value is estimated to be ₹424, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 7.7%. Reported Earnings • Aug 10
First quarter 2025 earnings released: EPS: ₹2.74 (vs ₹1.97 in 1Q 2024) First quarter 2025 results: EPS: ₹2.74 (up from ₹1.97 in 1Q 2024). Revenue: ₹1.56b (up 8.8% from 1Q 2024). Net income: ₹46.6m (up 39% from 1Q 2024). Profit margin: 3.0% (up from 2.3% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 09
Liberty Shoes Ltd., Annual General Meeting, Sep 27, 2024 Liberty Shoes Ltd., Annual General Meeting, Sep 27, 2024, at 11:00 Indian Standard Time. Announcement • Aug 04
Liberty Shoes Ltd. to Report Q1, 2025 Results on Aug 09, 2024 Liberty Shoes Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 New Risk • Jul 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (0% payout ratio). Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹471, the stock trades at a trailing P/E ratio of 71.9x. Average trailing P/E is 29x in the Luxury industry in India. Total returns to shareholders of 164% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹379, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 27x in the Luxury industry in India. Total returns to shareholders of 157% over the past three years. Reported Earnings • May 30
Full year 2024 earnings released: EPS: ₹6.40 (vs ₹7.58 in FY 2023) Full year 2024 results: EPS: ₹6.40 (down from ₹7.58 in FY 2023). Revenue: ₹6.37b (down 2.6% from FY 2023). Net income: ₹111.6m (down 14% from FY 2023). Profit margin: 1.8% (down from 2.0% in FY 2023). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 17
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Dividend is not well covered by earnings (0% payout ratio). Share price has been volatile over the past 3 months (8.1% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (₹5.23b market cap, or US$63.0m). Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: ₹0.11 (vs ₹1.09 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.11 (down from ₹1.09 in 3Q 2023). Revenue: ₹1.52b (down 3.9% from 3Q 2023). Net income: ₹1.84m (down 90% from 3Q 2023). Profit margin: 0.1% (down from 1.2% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (0% payout ratio). Share price has been volatile over the past 3 months (7.7% average weekly change). Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (₹6.62b market cap, or US$79.7m). Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: ₹1.55 (vs ₹3.45 in 2Q 2023) Second quarter 2024 results: EPS: ₹1.55 (down from ₹3.45 in 2Q 2023). Revenue: ₹1.72b (up 1.9% from 2Q 2023). Net income: ₹26.4m (down 55% from 2Q 2023). Profit margin: 1.5% (down from 3.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Nov 07
Now 24% undervalued Over the last 90 days, the stock is up 26%. The fair value is estimated to be ₹393, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Oct 18
Now 22% undervalued Over the last 90 days, the stock is up 28%. The fair value is estimated to be ₹385, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹1.97 (vs ₹3.21 in 1Q 2023) First quarter 2024 results: EPS: ₹1.97 (down from ₹3.21 in 1Q 2023). Revenue: ₹1.43b (down 11% from 1Q 2023). Net income: ₹33.5m (down 39% from 1Q 2023). Profit margin: 2.3% (down from 3.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Board Change • Jun 28
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Gautam Baid was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 01
Full year 2023 earnings released Full year 2023 results: EPS: ₹7.88. Revenue: ₹6.55b (up 34% from FY 2022). Net income: ₹129.1m (up 476% from FY 2022). Profit margin: 2.0% (up from 0.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹267, the stock trades at a trailing P/E ratio of 33.4x. Average trailing P/E is 16x in the Luxury industry in India. Total returns to shareholders of 141% over the past three years. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹221, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 16x in the Luxury industry in India. Total returns to shareholders of 109% over the past three years. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: ₹1.09 (vs ₹2.93 in 3Q 2022) Third quarter 2023 results: EPS: ₹1.09 (down from ₹2.93 in 3Q 2022). Revenue: ₹1.59b (up 4.4% from 3Q 2022). Net income: ₹18.5m (down 63% from 3Q 2022). Profit margin: 1.2% (down from 3.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹256, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 15x in the Luxury industry in India. Total returns to shareholders of 88% over the past three years. Recent Insider Transactions • Dec 09
Insider recently sold ₹32m worth of stock On the 6th of December, Pranav Gupta sold around 90k shares on-market at roughly ₹353 per share. This transaction amounted to 64% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹30m more than they bought in the last 12 months. Announcement • Nov 03
Liberty Shoes Ltd. to Report Q2, 2023 Results on Nov 10, 2022 Liberty Shoes Ltd. announced that they will report Q2, 2023 results on Nov 10, 2022 Board Change • Oct 31
High number of new directors Independent Director Gautam Baid was the last director to join the board, commencing their role in 2022. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹302, the stock trades at a trailing P/E ratio of 47.7x. Average trailing P/E is 13x in the Luxury industry in India. Total returns to shareholders of 158% over the past three years. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improved over the past week After last week's 23% share price gain to ₹417, the stock trades at a trailing P/E ratio of 65.8x. Average trailing P/E is 14x in the Luxury industry in India. Total returns to shareholders of 270% over the past three years. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improved over the past week After last week's 17% share price gain to ₹224, the stock trades at a trailing P/E ratio of 35.4x. Average trailing P/E is 14x in the Luxury industry in India. Total returns to shareholders of 105% over the past three years. Announcement • Sep 09
Liberty Shoes Ltd., Annual General Meeting, Sep 30, 2022 Liberty Shoes Ltd., Annual General Meeting, Sep 30, 2022, at 11:00 Indian Standard Time. Agenda: To consider adoption of financial statements; to consider appointment of directors; to consider appointment of statutory auditors; and to consider other matters. Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: ₹3.21 (vs ₹1.80 loss in 1Q 2022) First quarter 2023 results: EPS: ₹3.21 (up from ₹1.80 loss in 1Q 2022). Revenue: ₹1.61b (up 65% from 1Q 2022). Net income: ₹54.7m (up ₹85.4m from 1Q 2022). Profit margin: 3.4% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 07
Liberty Shoes Ltd. to Report Q1, 2023 Results on Aug 09, 2022 Liberty Shoes Ltd. announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • Jun 03
Full year 2022 earnings released: EPS: ₹1.54 (vs ₹0.15 in FY 2021) Full year 2022 results: EPS: ₹1.54 (up from ₹0.15 in FY 2021). Revenue: ₹4.88b (up 7.0% from FY 2021). Net income: ₹22.4m (up ₹19.9m from FY 2021). Profit margin: 0.5% (up from 0.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Non-Executive Independent Director Sanjay Bhatia was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 05
Head of Retail recently bought ₹1.9m worth of stock On the 2nd of March, Anupam Bansal bought around 14k shares on-market at roughly ₹136 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Feb 24
Liberty Shoes Ltd. Announces Resignation of Nidhi Lal as Independent Director Liberty Shoes Ltd. announced that Mrs. Nidhi Lal tendered her resignation from the position of independent director of the company effective from closure of business hours on February 22, 2022. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹126, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 12x in the Luxury industry in India. Total loss to shareholders of 7.3% over the past three years. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹2.93 (down from ₹3.38 in 3Q 2021). Revenue: ₹1.52b (up 3.0% from 3Q 2021). Net income: ₹50.0m (down 13% from 3Q 2021). Profit margin: 3.3% (down from 3.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Nov 15
Second quarter 2022 earnings released: ₹0.06 loss per share (vs ₹0.95 loss in 2Q 2021) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2022 results: Revenue: ₹1.12b (up 15% from 2Q 2021). Net loss: ₹1.06m (loss narrowed 94% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Board Change • Nov 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Independent Director Sanjay Bhatia was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Oct 03
Women Independent Director Lovelena Mody has left the company On the 28th of September, Lovelena Mody's tenure as Women Independent Director ended after 6.7 years in the role. We don't have any record of a personal shareholding under Lovelena's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 12.75 years. Board Change • Oct 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Independent Director Sanjay Bhatia was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Oct 01
Independent Non-Executive Director Raghubar Dayal has left the company On the 28th of September, Raghubar Dayal's tenure as Independent Non-Executive Director ended after 15.8 years in the role. We don't have any record of a personal shareholding under Raghubar's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 12.67 years. Executive Departure • Oct 01
Independent Non-Executive Director Ramesh Palhan has left the company On the 28th of September, Ramesh Palhan's tenure as Independent Non-Executive Director ended after 9.5 years in the role. We don't have any record of a personal shareholding under Ramesh's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 12.67 years. Board Change • Sep 30
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Arvind Kumar was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₹182, the stock trades at a trailing P/E ratio of 40.5x. Average trailing P/E is 14x in the Luxury industry in India. Total loss to shareholders of 8.4% over the past three years. Reported Earnings • Aug 13
First quarter 2022 earnings released: ₹1.80 loss per share (vs ₹6.38 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: ₹977.1m (up 91% from 1Q 2021). Net loss: ₹30.6m (loss narrowed 72% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 04
Full year 2021 earnings released: EPS ₹0.14 (vs ₹6.70 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹4.58b (down 30% from FY 2020). Net income: ₹2.51m (down 98% from FY 2020). Profit margin: 0.1% (down from 1.8% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 15
Third quarter 2021 earnings released: EPS ₹3.38 (vs ₹0.85 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ₹1.47b (down 1.9% from 3Q 2020). Net income: ₹57.7m (up 299% from 3Q 2020). Profit margin: 3.9% (up from 1.0% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Feb 04
Liberty Shoes Limited to Report Q3, 2021 Results on Feb 12, 2021 Liberty Shoes Limited announced that they will report Q3, 2021 results on Feb 12, 2021 Is New 90 Day High Low • Dec 12
New 90-day high: ₹155 The company is up 5.0% from its price of ₹147 on 11 September 2020. The Indian market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 22% over the same period. Reported Earnings • Nov 12
Second quarter 2021 earnings released: ₹0.95 loss per share The company reported a poor second quarter result with weaker earnings, revenues and control over expenses. Second quarter 2021 results: Revenue: ₹970.0m (down 28% from 2Q 2020). Net loss: ₹16.2m (down 129% from profit in 2Q 2020). Reported Earnings • Sep 21
First quarter earnings released Over the last 12 months the company has reported total losses of ₹18.2m, with earnings decreasing by ₹88.0m from the prior year. Total revenue was ₹5.33b over the last 12 months, down 15% from the prior year. Announcement • Aug 10
Liberty Shoes Limited to Report Q4, 2020 Results on Jul 31, 2020 Liberty Shoes Limited announced that they will report Q4, 2020 results on Jul 31, 2020 
