Sector Alpha Week of 2026-07-29
20-quarter listed-company comparison

Footwear Stocks in India

Footwear: Bata India Ltd owns the largest revenue base; Redtape Ltd has the fastest current growth.

Nifty Footwear Index — Constituents & Performance

The Footwear companies below are the listed Indian Footwear universe this page tracks — the same constituent set people search for as the Nifty Footwear index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

The sector itself · before any single company

How has Footwear moved against NIFTY 500?

The line below covers 5.1 years. Over the most recent two of them this sector is 37% behind NIFTY 500. Earnings across its companies fell 3% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 7 weeks running.

FADING · −1 in 4w✓Price down, no fundamental support1 of 5 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑7w · 1/5 >200d (−1) · 1/5 lead (−1) · EPS 3/4↑

200300202620252024202320222021 184335 TRAILING 12-MONTH EPS · 100 AT THE START0100112Sep 22Mar 23Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingSep 2022 · trailing 12-month earnings per share at 106, against 100 at the start · no comparable year yet · 3 reportingDec 2022 · trailing 12-month earnings per share at 109, against 100 at the start · no comparable year yet · 3 reportingMar 2023 · trailing 12-month earnings per share at 108, against 100 at the start · no comparable year yet · 3 reportingJun 2023 · trailing 12-month earnings per share at 102, against 100 at the start · up 4.3% on a year ago · 4 reportingSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 5.2% on a year ago · 4 reportingDec 2023 · trailing 12-month earnings per share at 94, against 100 at the start · down 11.1% on a year ago · 4 reportingMar 2024 · trailing 12-month earnings per share at 100, against 100 at the start · up 13.2% on a year ago · 4 reportingJun 2024 · trailing 12-month earnings per share at 106, against 100 at the start · up 7.9% on a year ago · 4 reportingSep 2024 · trailing 12-month earnings per share at 108, against 100 at the start · up 8.4% on a year ago · 4 reportingDec 2024 · trailing 12-month earnings per share at 112, against 100 at the start · up 12.9% on a year ago · 4 reportingMar 2025 · trailing 12-month earnings per share at 105, against 100 at the start · down 9.4% on a year ago · 4 reportingJun 2025 · trailing 12-month earnings per share at 89, against 100 at the start · down 10.2% on a year ago · 4 reportingSep 2025 · trailing 12-month earnings per share at 89, against 100 at the start · down 9.0% on a year ago · 4 reportingDec 2025 · trailing 12-month earnings per share at 93, against 100 at the start · down 5.0% on a year ago · 4 reportingMar 2026 · trailing 12-month earnings per share at 98, against 100 at the start · up 11.1% on a year ago · 4 reportingNot reported yet — earnings trail price by a quarter or two98 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
200300202620252024202320222021 184335 TRAILING 12-MONTH EPS · 100 AT THE START0100112Mar 23Mar 24Mar 25Mar 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingSep 2022 · trailing 12-month earnings per share at 106, against 100 at the start · no comparable year yet · 3 reportingDec 2022 · trailing 12-month earnings per share at 109, against 100 at the start · no comparable year yet · 3 reportingMar 2023 · trailing 12-month earnings per share at 108, against 100 at the start · no comparable year yet · 3 reportingJun 2023 · trailing 12-month earnings per share at 102, against 100 at the start · up 4.3% on a year ago · 4 reportingSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 5.2% on a year ago · 4 reportingDec 2023 · trailing 12-month earnings per share at 94, against 100 at the start · down 11.1% on a year ago · 4 reportingMar 2024 · trailing 12-month earnings per share at 100, against 100 at the start · up 13.2% on a year ago · 4 reportingJun 2024 · trailing 12-month earnings per share at 106, against 100 at the start · up 7.9% on a year ago · 4 reportingSep 2024 · trailing 12-month earnings per share at 108, against 100 at the start · up 8.4% on a year ago · 4 reportingDec 2024 · trailing 12-month earnings per share at 112, against 100 at the start · up 12.9% on a year ago · 4 reportingMar 2025 · trailing 12-month earnings per share at 105, against 100 at the start · down 9.4% on a year ago · 4 reportingJun 2025 · trailing 12-month earnings per share at 89, against 100 at the start · down 10.2% on a year ago · 4 reportingSep 2025 · trailing 12-month earnings per share at 89, against 100 at the start · down 9.0% on a year ago · 4 reportingDec 2025 · trailing 12-month earnings per share at 93, against 100 at the start · down 5.0% on a year ago · 4 reportingMar 2026 · trailing 12-month earnings per share at 98, against 100 at the start · up 11.1% on a year ago · 4 reportingNot reported yet — earnings trail price by a quarter or two98No earnings on file this far back — the price series reaches further than the filings do
Footwear, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling
Strength anatomy NarrowHow much of the sector is participating, how recently, and whether the movers score well.
Together1 of 5 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score −12 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large 0/10
Mid 1/20
Small 0/2−1

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 5 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Footwear outperforming NIFTY 500?

The 52-week comparison of Footwear against NIFTY 500 is not available from the current market series. 3 of 6 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is broad. Campus Activewear Ltd is the strongest against the sector itself at +13.5%. Readings are as of 2026-07-19.

—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
3/6Stocks leading NIFTY 500
3/5Stocks leading sector

Sector metric: 20.1 as of 2026-07-19 · LEADERS · rising.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

The 52-week sector comparison is unavailable. 3 of 6 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Bata India Ltd leads with revenue of ₹3,516 crore, based on 5 of 6 comparable companies through Mar 2026. Redtape Ltd has the fastest current revenue growth at 19.5%, across 5 of 6 comparable companies.

Is the Footwear sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 3 of 6 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

Which Footwear company is largest by revenue?

Bata India Ltd leads with revenue of ₹3,516 crore, based on 5 of 6 comparable companies through Mar 2026.

Which Footwear company is growing fastest?

Redtape Ltd has the fastest current revenue growth at 19.5%, across 5 of 6 comparable companies.

Which Footwear company has the strongest 4-Factor Sector Score?

Redtape Ltd ranks first at 75.1/100 with 100% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Footwear company has the least gross debt?

Mirza International Ltd has the lowest comparable gross debt at ₹15 crore. Metro Brands Ltd has the highest at ₹1,570 crore.

Which Footwear company has the lowest comparable PEG?

Redtape Ltd has the lowest comparable Guarded PEG at 1.19, among 3 of 6 companies that pass the metric’s comparability rules.

How much history does this Footwear comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies
6
complete canonical membership
Combined market value
₹60.9K Cr
Metro Brands Ltd
Revenue growing
3/5
positive TTM year-on-year growth
Beating NIFTY 500
3/6
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Redtape Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 100% evidence confidence.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Redtape Ltd · REDTAPE

75.1/100 · Favorable setup · 100% evidence

Exact sum: 31.9 + 16.9 + 17 + 9.3 = 75.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

31.9/35Growth & earnings

Revenue 19.5% · PAT 42.4% · OPM change 7 pp

100% evidence

16.9/25Capital efficiency

ROCE 24.1% · debt/equity 0.7×

100% evidence

17.0/20Valuation

P/E 29.1× · PEG 1.19

100% evidence

9.3/20Relative strength

RS sector 5% · RS bench 2.5% · 1Y -1.9%

100% evidence

2. Metro Brands Ltd · METROBRAND

51.1/100 · Mixed-positive evidence · 94% evidence

Exact sum: 17.7 + 15.2 + 6 + 12.2 = 51.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.7/35Growth & earnings

Revenue 14.2% · PAT 17.5% · OPM change 0 pp

100% evidence

15.2/25Capital efficiency

ROCE 20.2% · debt/equity 0.79×

100% evidence

6.0/20Valuation

P/E 67.7× · PEG 2.58

100% evidence

12.2/20Relative strength

RS sector 8.7% · RS bench -3% · 1Y -12.6%

70% evidence

3. Relaxo Footwears Ltd · RELAXO

39.0/100 · Mixed-negative evidence · 94% evidence

Exact sum: 14.2 + 12.8 + 2.5 + 9.5 = 39

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

14.2/35Growth & earnings

Revenue -3.1% · PAT 5.9% · OPM change 1 pp

100% evidence

12.8/25Capital efficiency

ROCE 11.1% · debt/equity 0.11×

100% evidence

2.5/20Valuation

P/E 56× · PEG 6.15

100% evidence

9.5/20Relative strength

RS sector -18.6% · RS bench 13.3% · 1Y -13.4%

70% evidence

4. Bata India Ltd · BATAINDIA

28.0/100 · Adverse evidence · 84% evidence

Exact sum: 6.1 + 9.4 + 9.5 + 3 = 28

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

6.1/35Growth & earnings

Revenue 0.8% · PAT -59.4% · OPM change -4.3 pp

100% evidence

9.4/25Capital efficiency

ROCE 12.7% · debt/equity 0.87×

100% evidence

9.5/20Valuation

P/E 52.7× · PEG —

50% evidence

3.0/20Relative strength

RS sector -19.7% · RS bench -24.3% · 1Y -43.1%

70% evidence

5. Campus Activewear Ltd · CAMPUS

64.3/100 · Thin evidence · provisional · 46% evidence

Exact sum: 20.6 + 17.4 + 13.7 + 12.6 = 64.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

20.6/35Growth & earnings

Revenue — · PAT — · OPM change 7 pp

19% evidence

17.4/25Capital efficiency

ROCE 31.8% · debt/equity 0.68×

60% evidence

13.7/20Valuation

P/E 48.7× · PEG —

50% evidence

12.6/20Relative strength

RS sector 13.5% · RS bench -9.1% · 1Y -21%

70% evidence

6. Mirza International Ltd · MIRZAINT

36.0/100 · Thin evidence · provisional · 50% evidence

Exact sum: 5.5 + 8.6 + 10 + 11.9 = 36

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

5.5/35Growth & earnings

Revenue -9.3% · PAT 100% · OPM change -12 pp

71% evidence

8.6/25Capital efficiency

ROCE -1.8% · debt/equity 0.03×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

11.9/20Relative strength

RS sector — · RS bench 9.4% · 1Y —

25% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Bata India Ltd has the highest Revenue among the 6 Footwear companies compared here, at ₹3,516 crore. Metro Brands Ltd is next at ₹2,863 crore. Redtape Ltd has the highest Revenue growth at 19.5%, so level and change sit with different companies. 5 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Bata India Ltd is the scale leader at ₹3,516 crore, 22.8% ahead of Metro Brands Ltd. Redtape Ltd's growth is 19.5% from a ₹2,419 crore base, with 16 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderBata India Ltd · ₹3,516 crore
Gap22.8% versus #2 · Metro Brands Ltd
Persistence4/8 recent comparable periods
Coverage5/6 companies · 93 observations

Investor read: Bata India Ltd is the scale benchmark; Redtape Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Bata India Ltd's growth falls below Redtape Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Bata India Ltd BATAINDIA₹3.5K Cr
2Metro Brands Ltd METROBRAND₹2.9K Cr
3Relaxo Footwears Ltd RELAXO₹2.7K Cr
4Redtape Ltd REDTAPE₹2.4K Cr
5Mirza International Ltd MIRZAINT₹527 Cr
Revenue growthfastest growers
1Redtape Ltd REDTAPE20%
2Metro Brands Ltd METROBRAND14%
3Bata India Ltd BATAINDIA0.8%
4Relaxo Footwears Ltd RELAXO-3.1%
5Mirza International Ltd MIRZAINT-9.3%
Revenue · company comparison
5/6 level · 5/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Bata India Ltd BATAINDIA₹828 Cr5.0%Mar 2026
Metro Brands Ltd METROBRAND₹773 Cr20%Mar 2026
Relaxo Footwears Ltd RELAXO₹751 Cr8.1%Mar 2026
Redtape Ltd REDTAPE₹676 Cr34%Mar 2026
Campus Activewear Ltd CAMPUS₹338 Cr150%Jun 2022
Mirza International Ltd MIRZAINT₹103 Cr-16%Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Bata India Ltd · BATAINDIA

₹267 Cr
₹614 Cr
₹841 Cr
₹665 Cr
₹943 Cr
₹830 Cr
₹900 Cr
₹779 Cr
₹958 Cr
₹819 Cr
₹903 Cr
₹798 Cr
₹945 Cr
₹837 Cr
₹919 Cr
₹788 Cr
₹942 Cr
₹801 Cr
₹945 Cr
₹828 Cr

Campus Activewear Ltd · CAMPUS

₹135 Cr
—
₹434 Cr
₹352 Cr
₹338 Cr
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

₹131 Cr
₹325 Cr
₹484 Cr
₹403 Cr
₹508 Cr
₹476 Cr
₹599 Cr
₹544 Cr
₹583 Cr
₹556 Cr
₹636 Cr
₹583 Cr
₹576 Cr
₹585 Cr
₹703 Cr
₹643 Cr
₹628 Cr
₹651 Cr
₹811 Cr
₹773 Cr

Mirza International Ltd · MIRZAINT

—
—
—
—
—
—
—
₹161 Cr
₹128 Cr
₹209 Cr
₹142 Cr
₹152 Cr
₹144 Cr
₹201 Cr
₹114 Cr
₹122 Cr
₹142 Cr
₹164 Cr
₹118 Cr
₹103 Cr

Redtape Ltd · REDTAPE

—
—
—
—
₹306 Cr
₹306 Cr
₹478 Cr
₹379 Cr
₹395 Cr
₹325 Cr
₹618 Cr
₹507 Cr
₹442 Cr
₹416 Cr
₹661 Cr
₹506 Cr
₹464 Cr
₹492 Cr
₹787 Cr
₹676 Cr

Relaxo Footwears Ltd · RELAXO

₹497 Cr
₹714 Cr
₹744 Cr
₹698 Cr
₹667 Cr
₹670 Cr
₹681 Cr
₹765 Cr
₹739 Cr
₹715 Cr
₹713 Cr
₹747 Cr
₹748 Cr
₹679 Cr
₹667 Cr
₹695 Cr
₹654 Cr
₹629 Cr
₹668 Cr
₹751 Cr

Revenue growth · reported quarter history

Bata India Ltd · BATAINDIA

—
—
—
—
253%
35%
7.0%
17%
1.6%
-1.3%
0.4%
2.5%
-1.4%
2.2%
1.7%
-1.2%
-0.3%
-4.3%
2.8%
5.0%

Campus Activewear Ltd · CAMPUS

—
—
—
28%
150%
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

—
—
—
—
288%
46%
24%
35%
15%
17%
6.2%
7.2%
-1.2%
5.2%
11%
10%
9.0%
11%
15%
20%

Mirza International Ltd · MIRZAINT

—
—
—
—
—
—
—
—
—
—
—
-5.6%
13%
-3.8%
-20%
-20%
-1.4%
-18%
3.5%
-16%

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
—
29%
6.2%
29%
34%
12%
28%
7.0%
-0.2%
5.0%
18%
19%
34%

Relaxo Footwears Ltd · RELAXO

—
—
—
—
34%
-6.2%
-8.5%
9.6%
11%
6.7%
4.7%
-2.4%
1.2%
-5.0%
-6.5%
-7.0%
-13%
-7.4%
0.2%
8.1%
02 · compare level, then change

Operating Economics & Margin Trend

Metro Brands Ltd has the highest OPM among the 6 Footwear companies compared here, at 31%. Bata India Ltd is next at 18.2%. Campus Activewear Ltd has the highest Margin change at +7 percentage points, so level and change sit with different companies. 6 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Metro Brands Ltd leads opm at 31%; Campus Activewear Ltd leads margin change at +7 percentage points.

LeaderMetro Brands Ltd · 31%
Gap70.3% versus #2 · Bata India Ltd
Persistence3/8 recent comparable periods
Coverage6/6 companies · 100 observations

Investor read: Metro Brands Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Metro Brands Ltd METROBRAND31%
2Bata India Ltd BATAINDIA18%
3Campus Activewear Ltd CAMPUS · older report18%
4Relaxo Footwears Ltd RELAXO17%
5Redtape Ltd REDTAPE16%
Margin changefastest expanders
1Campus Activewear Ltd CAMPUS · older report+7.0 pp
2Redtape Ltd REDTAPE+7.0 pp
3Relaxo Footwears Ltd RELAXO+1.0 pp
4Metro Brands Ltd METROBRAND0.0 pp
5Bata India Ltd BATAINDIA−4.4 pp
Operating margin · company comparison
6/6 level · 6/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyOPMMargin changeReported
Metro Brands Ltd METROBRAND31%0.0 ppMar 2026
Bata India Ltd BATAINDIA18%−4.4 ppMar 2026
Campus Activewear Ltd CAMPUS18%+7.0 ppJun 2022
Relaxo Footwears Ltd RELAXO17%+1.0 ppMar 2026
Redtape Ltd REDTAPE16%+7.0 ppMar 2026
Mirza International Ltd MIRZAINT-7.0%−12.0 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Bata India Ltd · BATAINDIA

-12%
19%
20%
24%
26%
19%
23%
23%
25%
22%
20%
23%
20%
21%
22%
23%
21%
18%
22%
18%

Campus Activewear Ltd · CAMPUS

11%
—
21%
22%
18%
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

-13%
30%
35%
32%
36%
31%
34%
26%
32%
28%
31%
27%
31%
26%
32%
31%
31%
26%
33%
31%

Mirza International Ltd · MIRZAINT

14%
12%
14%
9.3%
12%
11%
11%
6.0%
7.0%
6.0%
11%
8.0%
7.0%
8.0%
3.0%
5.0%
9.0%
8.0%
-1.0%
-7.0%

Redtape Ltd · REDTAPE

—
—
—
—
17%
15%
18%
16%
21%
18%
17%
15%
16%
15%
19%
9.0%
17%
15%
19%
16%

Relaxo Footwears Ltd · RELAXO

13%
16%
16%
16%
13%
8.9%
11%
15%
15%
13%
12%
16%
13%
13%
12%
16%
15%
13%
10%
17%

Margin change · reported quarter history

Bata India Ltd · BATAINDIA

+51.8 pp
+14.5 pp
+0.9 pp
+5.4 pp
+37.8 pp
−0.0 pp
+3.0 pp
−1.0 pp
−1.0 pp
+2.8 pp
−2.8 pp
−0.5 pp
−5.5 pp
−1.4 pp
+1.5 pp
−0.3 pp
+1.6 pp
−2.7 pp
+0.7 pp
−4.4 pp

Campus Activewear Ltd · CAMPUS

—
—
—
−2.0 pp
+7.0 pp
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

—
—
+2.4 pp
+5.6 pp
+48.9 pp
+1.1 pp
−0.7 pp
−6.2 pp
−4.0 pp
−2.9 pp
−3.0 pp
+1.0 pp
−1.0 pp
−2.0 pp
+1.0 pp
+4.0 pp
0.0 pp
0.0 pp
+1.0 pp
0.0 pp

Mirza International Ltd · MIRZAINT

+15.4 pp
+0.5 pp
+1.3 pp
−3.5 pp
−1.8 pp
−0.9 pp
−2.8 pp
−3.3 pp
−5.4 pp
−5.4 pp
+0.3 pp
+2.0 pp
0.0 pp
+2.0 pp
−8.0 pp
−3.0 pp
+2.0 pp
0.0 pp
−4.0 pp
−12.0 pp

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
—
+3.5 pp
+3.4 pp
−1.0 pp
−1.0 pp
−5.0 pp
−3.0 pp
+2.0 pp
−6.0 pp
+1.0 pp
0.0 pp
0.0 pp
+7.0 pp

Relaxo Footwears Ltd · RELAXO

−2.4 pp
−5.7 pp
−5.8 pp
−5.9 pp
−0.4 pp
−7.5 pp
−5.4 pp
−0.9 pp
+2.1 pp
+4.1 pp
+1.0 pp
+1.0 pp
−2.0 pp
0.0 pp
0.0 pp
0.0 pp
+2.0 pp
0.0 pp
−2.0 pp
+1.0 pp
03 · compare level, then change

Profit Scale & Acceleration

Metro Brands Ltd has the highest Net profit among the 6 Footwear companies compared here, at ₹416 crore. Redtape Ltd is next at ₹242 crore. Redtape Ltd has the highest Profit growth at 42.4%, so level and change sit with different companies. 5 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Metro Brands Ltd leads with ₹416 crore of TTM profit, 71.9% above Redtape Ltd. Redtape Ltd shows 42.4% growth from a ₹242 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderMetro Brands Ltd · ₹416 crore
Gap71.9% versus #2 · Redtape Ltd
Persistence4/8 recent comparable periods
Coverage5/6 companies · 93 observations

Investor read: Metro Brands Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Metro Brands Ltd METROBRAND₹416 Cr
2Redtape Ltd REDTAPE₹242 Cr
3Relaxo Footwears Ltd RELAXO₹180 Cr
4Bata India Ltd BATAINDIA₹134 Cr
5Mirza International Ltd MIRZAINT₹0 Cr
Profit growthfastest growers
1Redtape Ltd REDTAPE42%
2Metro Brands Ltd METROBRAND18%
3Relaxo Footwears Ltd RELAXO5.9%
4Bata India Ltd BATAINDIA-59%
Net profit · company comparison
5/6 level · 4/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyNet profitProfit growthReported
Metro Brands Ltd METROBRAND₹118 Cr24%Mar 2026
Redtape Ltd REDTAPE₹70 Cr71%Mar 2026
Relaxo Footwears Ltd RELAXO₹68 Cr21%Mar 2026
Campus Activewear Ltd CAMPUS₹29 Cr1,350%Jun 2022
Bata India Ltd BATAINDIA₹2 Cr-95%Mar 2026
Mirza International Ltd MIRZAINT₹-13 Cr-67%Mar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Bata India Ltd · BATAINDIA

₹-69 Cr
₹37 Cr
₹72 Cr
₹63 Cr
₹119 Cr
₹55 Cr
₹83 Cr
₹66 Cr
₹107 Cr
₹34 Cr
₹58 Cr
₹64 Cr
₹174 Cr
₹52 Cr
₹59 Cr
₹46 Cr
₹52 Cr
₹14 Cr
₹66 Cr
₹2 Cr

Campus Activewear Ltd · CAMPUS

₹2 Cr
—
₹55 Cr
₹40 Cr
₹29 Cr
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

₹-11 Cr
₹53 Cr
₹101 Cr
₹69 Cr
₹105 Cr
₹76 Cr
₹113 Cr
₹69 Cr
₹94 Cr
₹68 Cr
₹99 Cr
₹156 Cr
₹92 Cr
₹72 Cr
₹95 Cr
₹95 Cr
₹99 Cr
₹69 Cr
₹130 Cr
₹118 Cr

Mirza International Ltd · MIRZAINT

—
—
—
—
—
—
—
₹3 Cr
₹2 Cr
₹4 Cr
₹4 Cr
₹1 Cr
₹1 Cr
₹6 Cr
₹-6 Cr
₹-4 Cr
₹18 Cr
₹2 Cr
₹-7 Cr
₹-13 Cr

Redtape Ltd · REDTAPE

—
—
—
—
₹28 Cr
₹26 Cr
₹53 Cr
₹35 Cr
₹47 Cr
₹28 Cr
₹61 Cr
₹41 Cr
₹31 Cr
₹25 Cr
₹73 Cr
₹41 Cr
₹39 Cr
₹28 Cr
₹105 Cr
₹70 Cr

Relaxo Footwears Ltd · RELAXO

₹31 Cr
₹69 Cr
₹70 Cr
₹63 Cr
₹39 Cr
₹22 Cr
₹30 Cr
₹63 Cr
₹56 Cr
₹44 Cr
₹39 Cr
₹61 Cr
₹44 Cr
₹37 Cr
₹33 Cr
₹56 Cr
₹49 Cr
₹36 Cr
₹27 Cr
₹68 Cr

Profit growth · reported quarter history

Bata India Ltd · BATAINDIA

—
—
—
—
—
49%
15%
4.2%
-10%
-38%
-30%
-3.0%
63%
53%
1.2%
-28%
-70%
-73%
13%
-95%

Campus Activewear Ltd · CAMPUS

—
—
—
300%
1,350%
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

—
—
—
—
—
43%
12%
0.0%
-10%
-11%
-12%
126%
-2.1%
5.9%
-4.0%
-39%
7.6%
-4.2%
37%
24%

Mirza International Ltd · MIRZAINT

—
—
—
—
—
—
—
—
—
—
—
-67%
-50%
50%
-250%
-500%
1,700%
-67%
—
—

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
—
68%
7.7%
15%
17%
-34%
-11%
20%
0.0%
26%
12%
44%
71%

Relaxo Footwears Ltd · RELAXO

—
—
—
—
26%
-68%
-57%
0.0%
44%
100%
30%
-3.2%
-21%
-16%
-15%
-8.2%
11%
-2.7%
-18%
21%
04 · not available

Capacity Spending & Returns On It

No company in this Footwear comparison reports capital expenditure on a comparable basis, so there is nothing to rank here — 0 of 6 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Mar 2026.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

Withheld from this comparison: Campus Activewear Ltd (CAMPUS) — its two data sources disagree by up to 41% on reported income across 4 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Mirza International Ltd has the lowest Gross debt among the 6 Footwear companies compared here, at ₹15 crore. Relaxo Footwears Ltd is next at ₹233 crore. Relaxo Footwears Ltd has the lowest Net debt at ₹20 crore, so level and change sit with different companies. 6 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Relaxo Footwears Ltd has the clearest covered balance-sheet capacity with ₹20 crore and gross debt of ₹233 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderMirza International Ltd · ₹15 crore
Gap93.6% versus #2 · Relaxo Footwears Ltd
PersistenceNot enough history
Coverage6/6 companies · 76 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Mirza International Ltd MIRZAINT₹15 Cr
2Relaxo Footwears Ltd RELAXO₹233 Cr
3Campus Activewear Ltd CAMPUS · older report₹289 Cr
4Redtape Ltd REDTAPE₹720 Cr
5Bata India Ltd BATAINDIA₹1.4K Cr
Net debtlowest net debt
1Relaxo Footwears Ltd RELAXO₹20 Cr
2Redtape Ltd REDTAPE₹710 Cr
3Bata India Ltd BATAINDIA₹856 Cr
4Metro Brands Ltd METROBRAND₹872 Cr
Debt and balance-sheet capacity · company comparison
6/6 level · 4/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGross debtNet debtReported
Metro Brands Ltd METROBRAND₹1.6K Cr₹872 CrMar 2026
Bata India Ltd BATAINDIA₹1.4K Cr₹856 CrMar 2026
Redtape Ltd REDTAPE₹720 Cr₹710 CrMar 2026
Campus Activewear Ltd CAMPUS₹289 Cr—Jun 2022
Relaxo Footwears Ltd RELAXO₹233 Cr₹20 CrMar 2026
Mirza International Ltd MIRZAINT₹15 Cr—Mar 2026
Full 20-quarter history · every available company

Gross debt · reported quarter history

Bata India Ltd · BATAINDIA

₹1.0K Cr
₹914 Cr
₹914 Cr
₹1.1K Cr
₹1.1K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.3K Cr
₹1.3K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr

Campus Activewear Ltd · CAMPUS

—
—
—
₹289 Cr
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

—
—
—
₹692 Cr
₹692 Cr
₹807 Cr
₹807 Cr
₹943 Cr
₹943 Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.2K Cr
₹1.2K Cr
₹1.4K Cr
₹1.4K Cr
₹1.6K Cr

Mirza International Ltd · MIRZAINT

—
—
—
₹49 Cr
—
—
—
₹45 Cr
—
—
—
₹35 Cr
—
—
—
₹48 Cr
—
—
—
₹15 Cr

Redtape Ltd · REDTAPE

—
—
—
₹28 Cr
—
—
—
₹260 Cr
—
₹471 Cr
₹471 Cr
₹480 Cr
₹480 Cr
₹651 Cr
₹651 Cr
₹724 Cr
₹724 Cr
₹930 Cr
₹930 Cr
₹720 Cr

Relaxo Footwears Ltd · RELAXO

₹144 Cr
₹138 Cr
₹138 Cr
₹174 Cr
₹174 Cr
₹178 Cr
₹178 Cr
₹164 Cr
₹164 Cr
₹225 Cr
₹225 Cr
₹205 Cr
₹205 Cr
₹212 Cr
₹212 Cr
₹213 Cr
₹213 Cr
₹215 Cr
₹215 Cr
₹233 Cr

Net debt · reported quarter history

Bata India Ltd · BATAINDIA

₹-62 Cr
₹45 Cr
₹45 Cr
₹127 Cr
₹127 Cr
₹886 Cr
₹886 Cr
₹719 Cr
₹719 Cr
₹836 Cr
₹836 Cr
₹953 Cr
₹953 Cr
₹965 Cr
₹965 Cr
₹816 Cr
₹816 Cr
₹812 Cr
₹812 Cr
₹856 Cr

Metro Brands Ltd · METROBRAND

—
—
—
₹-97 Cr
₹-97 Cr
₹23 Cr
₹23 Cr
₹279 Cr
₹279 Cr
₹355 Cr
₹355 Cr
₹251 Cr
₹251 Cr
₹78 Cr
₹78 Cr
₹442 Cr
₹597 Cr
₹697 Cr
₹697 Cr
₹872 Cr

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
₹234 Cr
—
₹446 Cr
₹446 Cr
₹459 Cr
₹459 Cr
₹640 Cr
₹640 Cr
₹709 Cr
₹709 Cr
₹901 Cr
₹901 Cr
₹710 Cr

Relaxo Footwears Ltd · RELAXO

₹-200 Cr
₹-78 Cr
₹-78 Cr
₹-3 Cr
₹-8 Cr
₹14 Cr
₹14 Cr
₹-102 Cr
₹-111 Cr
₹-17 Cr
₹-17 Cr
₹36 Cr
₹24 Cr
₹62 Cr
₹62 Cr
₹-79 Cr
₹-98 Cr
₹-26 Cr
₹-26 Cr
₹20 Cr
06 · compare level, then change

Return On Capital Employed

Campus Activewear Ltd has the highest ROCE among the 6 Footwear companies compared here, at 31.8%. Redtape Ltd is next at 24.1%. The same company also holds the highest ROCE change, at +15 percentage points. 6 of 6 companies report a comparable reading, the latest through Jun 2022.

What the numbers say: Campus Activewear Ltd leads ROCE at 31.8%, 7.7 percentage points above Redtape Ltd. Campus Activewear Ltd has the strongest latest improvement at +15 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderCampus Activewear Ltd · 31.8%
Gap32% versus #2 · Redtape Ltd
PersistenceNot enough history
Coverage6/6 companies · 56 observations

Investor read: Campus Activewear Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Campus Activewear Ltd CAMPUS · older report32%
2Redtape Ltd REDTAPE24%
3Metro Brands Ltd METROBRAND20%
4Bata India Ltd BATAINDIA13%
5Relaxo Footwears Ltd RELAXO11%
ROCE changefastest improvers
1Campus Activewear Ltd CAMPUS · older report+15.0 pp
2Redtape Ltd REDTAPE+1.7 pp
3Relaxo Footwears Ltd RELAXO−0.8 pp
4Metro Brands Ltd METROBRAND−1.5 pp
5Bata India Ltd BATAINDIA−2.8 pp
Return on capital · company comparison
6/6 level · 6/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: Campus Activewear Ltd (CAMPUS) — its two data sources disagree by up to 41% on reported income across 4 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROCEROCE changeReported
Redtape Ltd REDTAPE26%+1.7 ppMar 2026
Metro Brands Ltd METROBRAND17%−1.5 ppMar 2026
Bata India Ltd BATAINDIA10%−2.8 ppMar 2026
Relaxo Footwears Ltd RELAXO8.9%−0.8 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Bata India Ltd · BATAINDIA

—
4.5%
—
5.8%
—
20%
—
21%
—
22%
20%
17%
22%
14%
23%
13%
15%
12%
14%
10%

Metro Brands Ltd · METROBRAND

—
—
—
15%
—
22%
—
21%
—
18%
22%
17%
21%
15%
20%
18%
21%
17%
21%
17%

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
29%
—
28%
31%
28%
31%
22%
28%
24%
28%
24%
31%
26%

Relaxo Footwears Ltd · RELAXO

—
22%
—
16%
—
14%
—
11%
—
12%
15%
12%
13%
11%
12%
9.7%
11%
9.4%
11%
8.9%

ROCE change · reported quarter history

Bata India Ltd · BATAINDIA

—
—
—
—
—
+15.8 pp
—
+15.5 pp
—
+1.5 pp
—
−4.0 pp
—
−7.4 pp
+2.8 pp
−4.3 pp
−6.5 pp
−2.5 pp
−8.9 pp
−2.8 pp

Metro Brands Ltd · METROBRAND

—
—
—
—
—
—
—
+6.1 pp
—
−4.1 pp
—
−4.2 pp
—
−2.9 pp
−1.9 pp
+1.3 pp
+0.8 pp
+1.1 pp
+0.4 pp
−1.5 pp

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
—
—
—
—
−1.8 pp
—
−5.5 pp
−2.3 pp
−3.5 pp
−2.5 pp
+2.0 pp
+2.6 pp
+1.7 pp

Relaxo Footwears Ltd · RELAXO

—
—
—
—
—
−8.3 pp
—
−5.3 pp
—
−1.3 pp
—
+1.4 pp
—
−1.4 pp
−2.6 pp
−2.2 pp
−1.5 pp
−1.5 pp
−1.1 pp
−0.8 pp
07 · compare level, then change

Valuation Against Growth & Quality

Redtape Ltd has the lowest Guarded PEG among the 6 Footwear companies compared here, at 1.19×. Metro Brands Ltd is next at 2.58×. The same company also holds the lowest P/E, at 29.1×. 3 of 6 companies report a comparable reading, the latest through Mar 2026. Its Guarded PEG series carries 8 reported observations across the 20-quarter window.

What the numbers say: Redtape Ltd has the lowest comparable Guarded PEG at 1.19×, 53.9% below Metro Brands Ltd. Only 3 of 6 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderRedtape Ltd · 1.19×
Gap53.9% versus #2 · Metro Brands Ltd
Persistence0/8 recent comparable periods
Coverage3/6 companies · 27 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Redtape Ltd REDTAPE1.2
2Metro Brands Ltd METROBRAND2.6
3Relaxo Footwears Ltd RELAXO6.2
P/Elowest P/E
1Redtape Ltd REDTAPE29.1
2Campus Activewear Ltd CAMPUS · older report48.7
3Bata India Ltd BATAINDIA52.7
4Relaxo Footwears Ltd RELAXO56.0
5Metro Brands Ltd METROBRAND67.7
Valuation · company comparison
3/6 level · 5/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGuarded PEGP/EReported
Bata India Ltd BATAINDIA10.442.3Mar 2026
Relaxo Footwears Ltd RELAXO6.237.0Mar 2026
Metro Brands Ltd METROBRAND2.663.7Mar 2026
Redtape Ltd REDTAPE1.229.5Mar 2026
Campus Activewear Ltd CAMPUS—185.4Jun 2022
Mirza International Ltd MIRZAINT—39.9Mar 2026
Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Bata India Ltd · BATAINDIA

—
—
—
—
—
1.7
—
—
—
10.4
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

—
—
3.5
12.9
—
2.0
8.7
—
—
14.2
—
—
5.8
4.8
3.8
2.6
—
—
—
—

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
—
—
7.6
3.7
2.9
—
5.0
3.9
—
—
4.3
0.9
1.2

Relaxo Footwears Ltd · RELAXO

3.5
2.0
2.7
7.5
—
—
—
—
—
—
—
3.2
3.5
11.1
—
—
6.2
—
—
—

P/E · reported quarter history

Bata India Ltd · BATAINDIA

—
967.8
346.5
244.8
204.3
80.2
68.5
56.9
66.7
66.6
67.5
60.6
67.7
74.7
73.2
62.6
68.0
68.5
65.7
42.3

Campus Activewear Ltd · CAMPUS

—
—
—
—
185.4
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

—
—
182.6
232.2
223.3
75.6
68.3
59.7
70.4
87.6
101.7
96.2
81.0
84.3
82.0
67.1
88.2
92.8
87.7
63.7

Mirza International Ltd · MIRZAINT

14.0
2.2
3.1
2.8
3.7
5.9
5.5
13.5
22.6
30.1
45.4
42.0
50.6
60.0
42.6
39.9
—
—
—
—

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
—
—
43.8
52.4
53.6
60.1
63.8
77.9
47.5
42.0
45.5
37.8
29.5

Relaxo Footwears Ltd · RELAXO

100.8
96.7
111.8
95.2
105.2
104.2
116.7
137.5
146.4
130.3
116.0
100.5
102.8
106.3
85.6
57.7
62.1
61.3
57.6
37.0
08 · compare level, then change

Enterprise Value & Book Value

Bata India Ltd has the lowest EV/EBITDA among the 6 Footwear companies compared here, at 11×. Mirza International Ltd is next at 11.8×. Mirza International Ltd has the lowest P/BV at 0.86×, so level and change sit with different companies. 6 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Bata India Ltd leads ev/ebitda at 11×; Mirza International Ltd leads p/bv at 0.86×.

LeaderBata India Ltd · 11×
Gap6.8% versus #2 · Mirza International Ltd
Persistence0/8 recent comparable periods
Coverage6/6 companies · 90 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Bata India Ltd BATAINDIA11.0
2Mirza International Ltd MIRZAINT11.8
3Relaxo Footwears Ltd RELAXO15.8
4Redtape Ltd REDTAPE16.2
5Metro Brands Ltd METROBRAND28.3
P/BVlowest P/BV
1Mirza International Ltd MIRZAINT0.9
2Relaxo Footwears Ltd RELAXO4.6
3Bata India Ltd BATAINDIA5.6
4Redtape Ltd REDTAPE6.9
5Metro Brands Ltd METROBRAND14.0
Enterprise and book valuation · company comparison
6/6 level · 5/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyEV/EBITDAP/BVReported
Campus Activewear Ltd CAMPUS84.2—Jun 2022
Metro Brands Ltd METROBRAND28.313.7Mar 2026
Redtape Ltd REDTAPE16.27.3Mar 2026
Relaxo Footwears Ltd RELAXO15.83.0Mar 2026
Mirza International Ltd MIRZAINT11.80.6Mar 2026
Bata India Ltd BATAINDIA11.05.3Mar 2026
Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Bata India Ltd · BATAINDIA

82.8
83.7
65.3
59.3
47.0
32.5
27.9
22.3
26.0
25.7
25.8
22.0
23.8
24.6
23.7
20.6
20.9
19.4
16.5
11.0

Campus Activewear Ltd · CAMPUS

—
—
—
—
84.2
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Metro Brands Ltd · METROBRAND

—
—
51.9
65.5
62.6
40.4
36.4
30.6
35.1
42.2
47.0
43.0
44.3
46.1
44.7
34.9
37.5
39.4
36.5
28.3

Mirza International Ltd · MIRZAINT

3.2
1.4
1.6
1.6
2.3
3.1
3.1
6.5
9.4
10.7
12.5
11.1
11.2
11.3
9.3
8.7
12.3
14.3
14.6
11.8

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
—
—
25.8
23.9
30.6
32.8
33.5
39.6
24.8
20.7
23.0
19.4
16.2

Relaxo Footwears Ltd · RELAXO

57.0
55.1
63.4
52.9
56.1
55.0
57.0
61.1
64.3
59.4
54.3
47.3
47.5
47.4
37.5
24.8
26.1
26.2
24.7
15.8

P/BV · reported quarter history

Bata India Ltd · BATAINDIA

11.1
12.9
14.3
14.8
12.7
18.2
16.5
10.1
11.9
14.4
15.1
12.5
13.5
12.2
12.1
10.7
10.4
9.5
8.0
5.3

Metro Brands Ltd · METROBRAND

—
—
—
12.9
12.0
17.4
16.8
17.1
20.1
19.8
20.7
18.8
21.6
18.6
17.2
14.0
16.6
19.4
17.2
13.7

Mirza International Ltd · MIRZAINT

0.1
0.1
0.3
0.4
0.5
0.6
0.5
0.8
1.2
1.1
1.2
1.1
1.1
1.1
0.9
0.7
0.8
1.0
0.9
0.6

Redtape Ltd · REDTAPE

—
—
—
—
—
—
—
—
—
11.2
11.7
16.4
16.4
15.8
17.5
11.5
9.8
10.3
7.9
7.3

Relaxo Footwears Ltd · RELAXO

23.1
18.4
20.3
16.1
15.6
14.2
12.8
12.0
12.9
12.1
11.8
10.7
11.1
10.0
7.7
5.0
5.3
5.1
4.8
3.0
09 · let price answer last

Market action

Redtape Ltd has the strongest one-year price move in Footwear at -1.9%. Relaxo Footwears Ltd leads on Mansfield relative strength against NIFTY at +13.3%. 3 of 6 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Footwear comparison names 7 specific ways its own evidence can mislead, all listed below. 1 of the 6 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 1 has second-feed figures withheld because the two sources disagree. 1 of the 8 ranked sections has fewer than three usable current readings.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
  • 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
  • Thin comparisons: Capital expenditure have fewer than three usable current readings.
10 · the complete set

Which companies are included?

All 6 companies in the canonical Footwear membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

CompanyMarket valuePricePriced toLatest fundamentalsSource standing
Metro Brands Ltd METROBRAND₹27.9K Cr₹1,0222026-07-19Mar 2026Cross-checked
Relaxo Footwears Ltd RELAXOAHEAD₹10.0K Cr₹4032026-07-19Mar 2026Cross-checked
Bata India Ltd BATAINDIA₹8.9K Cr₹6902026-07-19Mar 2026Cross-checked
Redtape Ltd REDTAPE19/26 WEEKS₹7.0K Cr₹1272026-07-19Mar 2026Cross-checked
Campus Activewear Ltd CAMPUS₹6.6K Cr₹2172026-07-19Jun 2022Second feed withheld
Mirza International Ltd MIRZAINT₹485 Cr₹35.12026-07-19Mar 2026Primary source only
How each company's sources stand: 1 of 6 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Campus Activewear Ltd (CAMPUS) — its two data sources disagree by up to 41% on reported income across 4 comparable periods, so its derived ratios are withheld.
Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 6 Footwear companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Mar 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing4 cross-checked · 1 unverified · 1 withheld, of 6 graded companies.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Questions investors ask · short, speakable answers

Footwear company comparison FAQs

These 18 answers restate the Footwear comparison above in question form. Every one is computed from the same 6 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.

What is the Nifty Footwear index?

The Nifty Footwear index tracks India's listed Footwear companies as a single basket. This page follows the same 6 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Footwear sector rather than to its largest constituent. Figures are as of Mar 2026.

Which are the best Footwear stocks in India?

Ranked by this page's four-factor score, Redtape Ltd places first among 6 listed Footwear companies, followed by Metro Brands Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Mar 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Footwear stocks are listed in India?

This comparison covers 6 listed Footwear companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Mar 2026.

Which Footwear company is the biggest?

Bata India Ltd is the largest, with trailing-twelve-month revenue of ₹3,516 crore, ahead of Metro Brands Ltd at ₹2,863 crore. That covers 5 of 6 companies with comparable reporting through Mar 2026.

Which Footwear company is growing fastest?

Redtape Ltd has the fastest revenue growth at 19.5% year on year, across 5 of 6 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Footwear company has the best profit margins?

Metro Brands Ltd has the highest operating margin at 31%, from 6 of 6 comparable companies. Campus Activewear Ltd shows the biggest recent improvement, at +7 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Footwear company makes the most profit?

Metro Brands Ltd earns the most, at ₹416 crore of trailing-twelve-month net profit, from 5 of 6 comparable companies. Redtape Ltd has the fastest profit growth at 42.4%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Footwear company earns the highest return on capital?

Campus Activewear Ltd leads on return on capital employed at 31.8%, across 6 of 6 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Footwear stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Redtape Ltd screens cheapest at 1.19×. Only 3 of 6 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Footwear company has the strongest balance sheet?

Mirza International Ltd carries the lowest comparable gross debt at ₹15 crore, from 6 of 6 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Footwear stock has the strongest price momentum?

Relaxo Footwears Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Footwear company scores highest for research priority?

Redtape Ltd scores 75.1 out of 100 with 100% evidence confidence, from 31.9 points on growth and earnings, 16.9 on capital efficiency, 17 on valuation and 9.3 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Footwear companies does this comparison cover, and over what period?

It compares 6 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Footwear sector?

The 6 Footwear companies on this page carry ₹60,864 crore of combined market value. Metro Brands Ltd is the largest at ₹27,853 crore, about 46% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

What is the Footwear sector's P/E ratio?

The median price-to-earnings ratio across the 6 Footwear companies on this page is 52.7×, measured on the 5 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

How is the Footwear sector performing?

3 of the 6 covered Footwear companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Chat with this pageChat with pageChatChatGPTClaudePerplexityGoogle AI