In Tuesday’s intra-day trade on a healthy outlook, the shares of Liberty Shoes sustained their northward movement, gaining 3% to hit a multi-year high of Rs 341.90 per share. In the past month, the Footwear Company’s stock price more-than-doubled 104% compared to a 1.7% decline in the S&P BSE Sensex.

The stock traded adjacent to its record high of Rs 351 apiece, which had hit on 22nd July 2014. Liberty Shoes has a manufacturing capacity of over 50,000 pairs daily. In-house brands like Leap 7X, Healers, Lucy & Luke, and Aha have accomplished well in the market, with rising inclusive share sales of the company moving ahead too.

On 24th September, the company said it was self-assured of achieving Pre COVID statistics regarding income and profitability. Successful ahead, the company aims to grow by 30% in the year 2022-23 and is confident enough to achieve the uppermost ever top line and Profit before tax (PBT) in the year 2022-23, with a PST margin of over 5% corresponding with the industry standard shortly.

The rising unrestricted income, development in living standards, increased brand mindfulness, and growing workforce has caused a shift from the unorganised sector to the organised sector in the Indian market. The demand for modern fashion products is also insistent with revenues, higher trade volumes, and increased employment avenues.

Meanwhile, analysts at CARE Ratings reiterated the ratings allocated to the bank facilities of Liberty Shoes with a ‘stable’ outlook. The rating factor in improved operational performance in FY22 and the first quarter of FY23 (Q1FY23) is noticeable by better-quality capacity utilisation, better absorption of overheads, wide distribution linkage, contented capital structure, and geographically differentiated revenue stream.