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.

The 7 Footwear companies listed in India are Metro Brands Ltd (₹25.6K Cr, the largest), Bata India Ltd, Relaxo Footwears Ltd and 4 more. 1 of 7 covered companies beats NIFTY 500 on relative strength. Readings are as of 17 Sep 2026.

All 7 Footwear Stocks in India (Sep 2026) — ranked by 4-Factor score

1Redtape Ltd₹6.4K Cr69.3/100Favorable setup · strongest on ROCE and PEG
2Sreeleathers Ltd₹772 Cr63.0/100Mixed-positive evidence · strongest on profit growth and margin improvement
3Campus Activewear Ltd₹6.6K Cr60.4/100Mixed-positive evidence · strongest on relative strength versus sector and ROCE
4Metro Brands Ltd₹25.6K Cr50.6/100Mixed-positive evidence · strongest on relative strength versus sector and ROCE
5Mirza International Ltd₹459 Cr33.4/100Adverse evidence · strongest on profit growth and 13-week relative-strength change
6Bata India Ltd₹8.3K Cr32.4/100Adverse evidence · strongest on operating margin and profitable quarters
7Relaxo Footwears Ltd₹8.1K Cr30.1/100Adverse evidence · strongest on profitable quarters and profit consistency

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 11 Sep 2026. Not investment advice.

01 · the index people search for

Nifty Footwear Index — Constituents & Performance

All 7 listed Indian Footwear companies are named here, largest first — the same constituent set people search for as the Nifty Footwear index. Every figure is equal-weighted across those companies and carries its own as-of date. One large constituent cannot set the reading.

02 · the sector itself · before any single company

How has Footwear moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 29% behind NIFTY 500. Earnings across its companies grew 11% on average over the last four reported quarters.

FADING · −1 in 4w✓Fundamentals up, price down1 of the 6 companies with a long enough price record ahead of NIFTY 500 by 5% or more over three months

RS ↑2w · 1/6 >200d (−1) · 1/6 lead (−1) · EPS 5/6↑

Footwear, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

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 6 of its 7 companies — the 1 with too short a price record are ranked in the scorecard but cannot sit in this line. 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.

03 · sector relative strength, before individual stocks

Is Footwear outperforming NIFTY 500?

Footwear has underperformed NIFTY 500 by 12.2% over the last 52 weeks. Over 13 weeks the gap is a lead of 6.2%. 1 of 7 covered companies currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Campus Activewear Ltd is the strongest against the sector itself at +12.1%. Readings are as of 2026-08-22.

+6.2%Sector vs NIFTY 500 · 13 weeks

-12.2%Sector vs NIFTY 500 · 52 weeks

1/7Stocks leading NIFTY 500

2/6Stocks leading sector

Sector metric: 22.8 as of 2026-08-22 · NARROWING · 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

Footwear has underperformed NIFTY 500 by 12.2% over 52 weeks and 6.2% over 13 weeks. 1 of 7 covered companies beat NIFTY on Mansfield relative strength, while 2 of 6 beat the sector itself. Bata India Ltd leads with revenue of ₹3,553 crore, based on 7 of 7 comparable companies through Jun 2026.

Companies

complete canonical membership

Combined market value

₹56.3K Cr

Metro Brands Ltd

Revenue growing

6/7

positive TTM year-on-year growth

Beating NIFTY 500

1/7

positive Mansfield relative strength

Comparing 5 of 7

04 · 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.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1Redtape LtdREDTAPE	69.3/100Favorable setup100% evidence	ASLEEP	27.9/35 Revenue 19% · PAT 38.8% · OPM change 0 pp 100% evidence	18.0/25 ROCE 24.5% · OPM 17% 100% evidence	18.9/20 P/E 26× · PEG 0.76 100% evidence	4.5/20 RS sector -8.4% · RS bench -8.8% · 1Y -20.8%4 of 12 weeks ahead 100% evidence
Exact sum: 27.9 + 18 + 18.9 + 4.5 = 69.3 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -8.4% and the one-year return is -20.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
2Sreeleathers LtdSREEL	63.0/100Mixed-positive evidence72% evidence	BREAKING OUT	27.9/35 Revenue 16.7% · PAT 56.9% · OPM change 7 pp 95% evidence	10.6/25 ROCE 7% · OPM 14.9% 95% evidence	12.0/20 P/E 23.5× · PEG — 50% evidence	12.5/20 RS sector — · RS bench 57.2% · 1Y —6 of 6 weeks ahead 25% evidence
Exact sum: 27.9 + 10.6 + 12 + 12.5 = 63 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Campus Activewear LtdCAMPUS	60.4/100Mixed-positive evidence94% evidence	BASING	21.8/35 Revenue 13.8% · PAT 31.6% · OPM change 0 pp 100% evidence	14.4/25 ROCE 21.2% · OPM 14% 100% evidence	11.7/20 P/E 42.5× · PEG 2.04 100% evidence	12.5/20 RS sector 12.1% · RS bench -13.1% · 1Y -21.2%0 of 10 weeks ahead 70% evidence
Exact sum: 21.8 + 14.4 + 11.7 + 12.5 = 60.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Metro Brands LtdMETROBRAND	50.6/100Mixed-positive evidence94% evidence	BASING	14.6/35 Revenue 15.5% · PAT 14.1% · OPM change -1 pp 100% evidence	18.6/25 ROCE 20.1% · OPM 30% 100% evidence	4.9/20 P/E 63.1× · PEG 4 100% evidence	12.5/20 RS sector 7.3% · RS bench -10.2% · 1Y -23.7%0 of 10 weeks ahead 70% evidence
Exact sum: 14.6 + 18.6 + 4.9 + 12.5 = 50.6 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
5Mirza International LtdMIRZAINT	33.4/100Adverse evidence72% evidence		9.7/35 Revenue -9.3% · PAT 100% · OPM change -6.7 pp 95% evidence	3.4/25 ROCE -1.8% · OPM 2.4% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	10.3/20 RS sector -4.8% · RS bench -7.6% · 1Y -1.2%4 of 7 weeks ahead to 2026-08-09 100% evidence
Exact sum: 9.7 + 3.4 + 10 + 10.3 = 33.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Bata India LtdBATAINDIA	32.4/100Adverse evidence84% evidence	ASLEEP	8.1/35 Revenue 1.9% · PAT -30.1% · OPM change 0 pp 100% evidence	13.0/25 ROCE 12.7% · OPM 21% 100% evidence	8.3/20 P/E 48× · PEG — 50% evidence	3.0/20 RS sector -20.9% · RS bench -21.2% · 1Y -47.8%0 of 10 weeks ahead 70% evidence
Exact sum: 8.1 + 13 + 8.3 + 3 = 32.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Relaxo Footwears LtdRELAXO	30.1/100Adverse evidence100% evidence	ASLEEP	13.3/35 Revenue 2.1% · PAT 6.3% · OPM change 0 pp 100% evidence	11.6/25 ROCE 11.2% · OPM 15% 100% evidence	2.9/20 P/E 43.6× · PEG 6.15 100% evidence	2.3/20 RS sector -10.3% · RS bench -11.2% · 1Y -34.6%9 of 12 weeks ahead 100% evidence
Exact sum: 13.3 + 11.6 + 2.9 + 2.3 = 30.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

05 · what price has already done

Market action

Mirza International Ltd has the strongest one-year price move in Footwear at -1.2%. Sreeleathers Ltd leads on Mansfield relative strength against NIFTY at +57.2%. 1 of 7 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-09-11.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · the story behind the numbers

Footwear — the story behind the numbers

This is the written read behind the Footwear figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 28 Jul 2026. 4 themes are live here, 1 of them rated high severity.

The Footwear sector analysis for the week ending 2026-07-19 relies on a single constituent, Mirza International Ltd (MIRZAINT). The company reported consolidated revenue from operations of ₹102.56 Cr, a decline of 15.9% YoY. Profit for the period consolidated quarter ended 31.03.2026 was (1321.93) Lakh, widening losses compared to (354.38) Lakh in Q4FY25.

How old this read is: This read comes from our Footwear sector brief dated 28 Jul 2026 — 51 days old. The numbers above it are newer than the words here.

What is live in this sector right now

Live theme	Severity	Evidence on file
Exports constitute ~83% of revenue in 9M FY26 with raw material imports (cowhide), creating significant forex exposure despite hedging policy via forward contracts.Named for MIRZAINT	high	Company mitigates this risk through a policy of hedging its net forex exposure through forward contracts.
US tariffs cited as market turbulence factor affecting exports; US and UK markets represent ~69% of revenue share.Named for MIRZAINT	medium	Company continues to explore new markets and opportunities especially those emerging with the UK tariff and FTA.
Raw material cost pressures combined with inability to pass costs to customers resulted in severe margin compression.Named for MIRZAINT	medium	No further detail is on file for this theme.
Tariff developments in US mentioned as favourable but timing and extent of recovery remains monitorable with limited clarity.Named for MIRZAINT	low	While tariff developments in the US are currently favourable, there is limited clarity on the timing and extent of recovery in demand.

Sources: our Footwear sector brief, 28 Jul 2026.

07 · compare level, then change

Revenue Scale & Growth Durability

Bata India Ltd has the highest Revenue among the 7 Footwear companies compared here, at ₹3,553 crore. Metro Brands Ltd is next at ₹2,955 crore. Redtape Ltd has the highest Revenue growth at 19%, so level and change sit with different companies. 7 of 7 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Bata India Ltd is the scale leader at ₹3,553 crore, 20.2% ahead of Metro Brands Ltd. Redtape Ltd's growth is 19% from a ₹2,436 crore base, with 17 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderBata India Ltd · ₹3,553 crore

Gap20.2% versus #2 · Metro Brands Ltd

Persistence5/8 recent comparable periods

Coverage7/7 companies · 125 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₹3.6K Cr

2Metro Brands Ltd METROBRAND₹3.0K Cr

3Relaxo Footwears Ltd RELAXO₹2.8K Cr

4Redtape Ltd REDTAPE₹2.4K Cr

5Campus Activewear Ltd CAMPUS₹1.8K Cr

Revenue growthfastest growers

1Redtape Ltd REDTAPE19%

2Sreeleathers Ltd SREEL17%

3Metro Brands Ltd METROBRAND16%

4Campus Activewear Ltd CAMPUS14%

5Relaxo Footwears Ltd RELAXO2.2%

Revenue · company comparison

7/7 level · 7/7 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Bata India Ltd BATAINDIA	₹979 Cr	3.9%	Jun 2026
Metro Brands Ltd METROBRAND	₹720 Cr	15%	Jun 2026
Relaxo Footwears Ltd RELAXO	₹705 Cr	7.8%	Jun 2026
Redtape Ltd REDTAPE	₹481 Cr	3.7%	Jun 2026
Campus Activewear Ltd CAMPUS	₹385 Cr	12%	Jun 2026
Mirza International Ltd MIRZAINT	₹128 Cr	-9.7%	Jun 2026
Sreeleathers Ltd SREEL	₹60 Cr	20%	Jun 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Bata India Ltd · BATAINDIA

Sep 2021₹614 Cr

Dec 2021₹841 Cr

Mar 2022₹665 Cr

Jun 2022₹943 Cr

Sep 2022₹830 Cr

Dec 2022₹900 Cr

Mar 2023₹779 Cr

Jun 2023₹958 Cr

Sep 2023₹819 Cr

Dec 2023₹903 Cr

Mar 2024₹798 Cr

Jun 2024₹945 Cr

Sep 2024₹837 Cr

Dec 2024₹919 Cr

Mar 2025₹788 Cr

Jun 2025₹942 Cr

Sep 2025₹801 Cr

Dec 2025₹945 Cr

Mar 2026₹828 Cr

Jun 2026₹979 Cr

Campus Activewear Ltd · CAMPUS

Sep 2021₹273 Cr

Dec 2021₹434 Cr

Mar 2022₹352 Cr

Jun 2022₹338 Cr

Sep 2022₹334 Cr

Dec 2022₹466 Cr

Mar 2023₹346 Cr

Jun 2023₹354 Cr

Sep 2023₹259 Cr

Dec 2023₹472 Cr

Mar 2024₹364 Cr

Jun 2024₹339 Cr

Sep 2024₹333 Cr

Dec 2024₹515 Cr

Mar 2025₹406 Cr

Jun 2025₹343 Cr

Sep 2025₹387 Cr

Dec 2025₹589 Cr

Mar 2026₹456 Cr

Jun 2026₹385 Cr

Metro Brands Ltd · METROBRAND

Sep 2021₹325 Cr

Dec 2021₹484 Cr

Mar 2022₹403 Cr

Jun 2022₹508 Cr

Sep 2022₹476 Cr

Dec 2022₹599 Cr

Mar 2023₹544 Cr

Jun 2023₹583 Cr

Sep 2023₹556 Cr

Dec 2023₹636 Cr

Mar 2024₹583 Cr

Jun 2024₹576 Cr

Sep 2024₹585 Cr

Dec 2024₹703 Cr

Mar 2025₹643 Cr

Jun 2025₹628 Cr

Sep 2025₹651 Cr

Dec 2025₹811 Cr

Mar 2026₹773 Cr

Jun 2026₹720 Cr

Mirza International Ltd · MIRZAINT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹161 Cr

Jun 2023₹128 Cr

Sep 2023₹209 Cr

Dec 2023₹142 Cr

Mar 2024₹152 Cr

Jun 2024₹144 Cr

Sep 2024₹201 Cr

Dec 2024₹114 Cr

Mar 2025₹122 Cr

Jun 2025₹142 Cr

Sep 2025₹164 Cr

Dec 2025₹118 Cr

Mar 2026₹103 Cr

Jun 2026₹128 Cr

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹306 Cr

Sep 2022₹306 Cr

Dec 2022₹478 Cr

Mar 2023₹379 Cr

Jun 2023₹395 Cr

Sep 2023₹325 Cr

Dec 2023₹618 Cr

Mar 2024₹507 Cr

Jun 2024₹442 Cr

Sep 2024₹416 Cr

Dec 2024₹661 Cr

Mar 2025₹506 Cr

Jun 2025₹464 Cr

Sep 2025₹492 Cr

Dec 2025₹787 Cr

Mar 2026₹676 Cr

Jun 2026₹481 Cr

Relaxo Footwears Ltd · RELAXO

Sep 2021₹714 Cr

Dec 2021₹744 Cr

Mar 2022₹698 Cr

Jun 2022₹667 Cr

Sep 2022₹670 Cr

Dec 2022₹681 Cr

Mar 2023₹765 Cr

Jun 2023₹739 Cr

Sep 2023₹715 Cr

Dec 2023₹713 Cr

Mar 2024₹747 Cr

Jun 2024₹748 Cr

Sep 2024₹679 Cr

Dec 2024₹667 Cr

Mar 2025₹695 Cr

Jun 2025₹654 Cr

Sep 2025₹629 Cr

Dec 2025₹668 Cr

Mar 2026₹751 Cr

Jun 2026₹705 Cr

Sreeleathers Ltd · SREEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹48 Cr

Jun 2023₹50 Cr

Sep 2023₹60 Cr

Dec 2023₹58 Cr

Mar 2024₹50 Cr

Jun 2024₹49 Cr

Sep 2024₹63 Cr

Dec 2024₹55 Cr

Mar 2025₹53 Cr

Jun 2025₹50 Cr

Sep 2025₹75 Cr

Dec 2025₹61 Cr

Mar 2026₹63 Cr

Jun 2026₹60 Cr

Revenue growth · reported quarter history

Bata India Ltd · BATAINDIA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022253%

Sep 202235%

Dec 20227.0%

Mar 202317%

Jun 20231.6%

Sep 2023-1.3%

Dec 20230.3%

Mar 20242.5%

Jun 2024-1.4%

Sep 20242.2%

Dec 20241.8%

Mar 2025-1.3%

Jun 2025-0.3%

Sep 2025-4.3%

Dec 20252.8%

Mar 20265.1%

Jun 20263.9%

Campus Activewear Ltd · CAMPUS

Sep 2021—

Dec 2021—

Mar 202228%

Jun 2022150%

Sep 202222%

Dec 20227.4%

Mar 2023-1.7%

Jun 20234.7%

Sep 2023-22%

Dec 20231.3%

Mar 20245.2%

Jun 2024-4.2%

Sep 202429%

Dec 20249.1%

Mar 202512%

Jun 20251.2%

Sep 202516%

Dec 202514%

Mar 202612%

Jun 202612%

Metro Brands Ltd · METROBRAND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022288%

Sep 202246%

Dec 202224%

Mar 202335%

Jun 202315%

Sep 202317%

Dec 20236.2%

Mar 20247.2%

Jun 2024-1.2%

Sep 20245.2%

Dec 202411%

Mar 202510%

Jun 20259.0%

Sep 202511%

Dec 202515%

Mar 202620%

Jun 202615%

Mirza International Ltd · MIRZAINT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-5.4%

Jun 202412%

Sep 2024-3.5%

Dec 2024-19%

Mar 2025-20%

Jun 2025-1.0%

Sep 2025-18%

Dec 20253.4%

Mar 2026-16%

Jun 2026-9.7%

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202329%

Sep 20236.2%

Dec 202329%

Mar 202434%

Jun 202412%

Sep 202428%

Dec 20247.0%

Mar 2025-0.2%

Jun 20255.0%

Sep 202518%

Dec 202519%

Mar 202634%

Jun 20263.7%

Relaxo Footwears Ltd · RELAXO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202234%

Sep 2022-6.2%

Dec 2022-8.5%

Mar 20239.6%

Jun 202311%

Sep 20236.7%

Dec 20234.7%

Mar 2024-2.4%

Jun 20241.2%

Sep 2024-5.0%

Dec 2024-6.5%

Mar 2025-7.0%

Jun 2025-13%

Sep 2025-7.4%

Dec 20250.2%

Mar 20268.1%

Jun 20267.8%

Sreeleathers Ltd · SREEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20242.7%

Jun 2024-1.9%

Sep 20244.0%

Dec 2024-4.7%

Mar 20257.2%

Jun 20252.3%

Sep 202519%

Dec 20259.9%

Mar 202618%

Jun 202620%

08 · compare level, then change

Operating Economics & Margin Trend

Metro Brands Ltd has the highest OPM among the 7 Footwear companies compared here, at 30%. Bata India Ltd is next at 21%. Sreeleathers Ltd has the highest Margin change at +7 percentage points, so level and change sit with different companies. 7 of 7 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Metro Brands Ltd leads opm at 30%; Sreeleathers Ltd leads margin change at +7 percentage points.

LeaderMetro Brands Ltd · 30%

Gap42.9% versus #2 · Bata India Ltd

Persistence3/8 recent comparable periods

Coverage7/7 companies · 137 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 METROBRAND30%

2Bata India Ltd BATAINDIA21%

3Redtape Ltd REDTAPE17%

4Relaxo Footwears Ltd RELAXO15%

5Sreeleathers Ltd SREEL15%

Margin changefastest expanders

1Sreeleathers Ltd SREEL+7.0 pp

2Bata India Ltd BATAINDIA0.0 pp

3Campus Activewear Ltd CAMPUS0.0 pp

4Redtape Ltd REDTAPE0.0 pp

5Relaxo Footwears Ltd RELAXO0.0 pp

Operating margin · company comparison

7/7 level · 7/7 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
Metro Brands Ltd METROBRAND	30%	−1.0 pp	Jun 2026
Bata India Ltd BATAINDIA	21%	0.0 pp	Jun 2026
Redtape Ltd REDTAPE	17%	0.0 pp	Jun 2026
Relaxo Footwears Ltd RELAXO	15%	0.0 pp	Jun 2026
Sreeleathers Ltd SREEL	15%	+7.0 pp	Jun 2026
Campus Activewear Ltd CAMPUS	14%	0.0 pp	Jun 2026
Mirza International Ltd MIRZAINT	2.4%	−6.7 pp	Jun 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Bata India Ltd · BATAINDIA

Sep 202119%

Dec 202120%

Mar 202224%

Jun 202226%

Sep 202219%

Dec 202223%

Mar 202323%

Jun 202325%

Sep 202322%

Dec 202320%

Mar 202423%

Jun 202420%

Sep 202421%

Dec 202422%

Mar 202523%

Jun 202521%

Sep 202518%

Dec 202522%

Mar 202618%

Jun 202621%

Campus Activewear Ltd · CAMPUS

Sep 202120%

Dec 202121%

Mar 202222%

Jun 202218%

Sep 202213%

Dec 202220%

Mar 202316%

Jun 202319%

Sep 20239.0%

Dec 202312%

Mar 202418%

Jun 202415%

Sep 202411%

Dec 202416%

Mar 202518%

Jun 202514%

Sep 202513%

Dec 202519%

Mar 202618%

Jun 202614%

Metro Brands Ltd · METROBRAND

Sep 202130%

Dec 202135%

Mar 202232%

Jun 202236%

Sep 202231%

Dec 202234%

Mar 202326%

Jun 202332%

Sep 202328%

Dec 202331%

Mar 202427%

Jun 202431%

Sep 202426%

Dec 202432%

Mar 202531%

Jun 202531%

Sep 202526%

Dec 202533%

Mar 202631%

Jun 202630%

Mirza International Ltd · MIRZAINT

Sep 202112%

Dec 202114%

Mar 20229.3%

Jun 202212%

Sep 202211%

Dec 202211%

Mar 20236.0%

Jun 20237.2%

Sep 20235.8%

Dec 202311%

Mar 20247.9%

Jun 20247.3%

Sep 20248.4%

Dec 20242.7%

Mar 20254.6%

Jun 20259.1%

Sep 20257.7%

Dec 2025-1.1%

Mar 2026-6.6%

Jun 20262.4%

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202217%

Sep 202215%

Dec 202218%

Mar 202316%

Jun 202321%

Sep 202318%

Dec 202317%

Mar 202415%

Jun 202416%

Sep 202415%

Dec 202419%

Mar 20259.0%

Jun 202517%

Sep 202515%

Dec 202519%

Mar 202616%

Jun 202617%

Relaxo Footwears Ltd · RELAXO

Sep 202116%

Dec 202116%

Mar 202216%

Jun 202213%

Sep 20228.9%

Dec 202211%

Mar 202315%

Jun 202315%

Sep 202313%

Dec 202312%

Mar 202416%

Jun 202413%

Sep 202413%

Dec 202412%

Mar 202516%

Jun 202515%

Sep 202513%

Dec 202510%

Mar 202617%

Jun 202615%

Sreeleathers Ltd · SREEL

Sep 202123%

Dec 202121%

Mar 202216%

Jun 202217%

Sep 202216%

Dec 202219%

Mar 202320%

Jun 202318%

Sep 202320%

Dec 202317%

Mar 202414%

Jun 202414%

Sep 202416%

Dec 202416%

Mar 202513%

Jun 20258.0%

Sep 202516%

Dec 202513%

Mar 202616%

Jun 202615%

Margin change · reported quarter history

Bata India Ltd · BATAINDIA

Sep 2021+14.5 pp

Dec 2021+0.9 pp

Mar 2022+5.4 pp

Jun 2022+37.8 pp

Sep 2022−0.0 pp

Dec 2022+3.0 pp

Mar 2023−1.0 pp

Jun 2023−1.0 pp

Sep 2023+2.6 pp

Dec 2023−3.0 pp

Mar 2024−0.4 pp

Jun 2024−5.0 pp

Sep 2024−1.0 pp

Dec 2024+2.0 pp

Mar 20250.0 pp

Jun 2025+1.0 pp

Sep 2025−3.0 pp

Dec 20250.0 pp

Mar 2026−5.0 pp

Jun 20260.0 pp

Campus Activewear Ltd · CAMPUS

Sep 2021—

Dec 2021—

Mar 2022−2.0 pp

Jun 2022+7.0 pp

Sep 2022−7.1 pp

Dec 2022−1.3 pp

Mar 2023−5.7 pp

Jun 2023+1.0 pp

Sep 2023−4.0 pp

Dec 2023−7.7 pp

Mar 2024+1.7 pp

Jun 2024−4.0 pp

Sep 2024+2.0 pp

Dec 2024+4.0 pp

Mar 20250.0 pp

Jun 2025−1.0 pp

Sep 2025+2.0 pp

Dec 2025+3.0 pp

Mar 20260.0 pp

Jun 20260.0 pp

Metro Brands Ltd · METROBRAND

Sep 2021—

Dec 2021+2.4 pp

Mar 2022+5.6 pp

Jun 2022+48.9 pp

Sep 2022+1.1 pp

Dec 2022−0.7 pp

Mar 2023−6.2 pp

Jun 2023−4.0 pp

Sep 2023−2.9 pp

Dec 2023−3.0 pp

Mar 2024+1.0 pp

Jun 2024−1.0 pp

Sep 2024−2.0 pp

Dec 2024+1.0 pp

Mar 2025+4.0 pp

Jun 20250.0 pp

Sep 20250.0 pp

Dec 2025+1.0 pp

Mar 20260.0 pp

Jun 2026−1.0 pp

Mirza International Ltd · MIRZAINT

Sep 2021+0.5 pp

Dec 2021+1.3 pp

Mar 2022−3.5 pp

Jun 2022−1.8 pp

Sep 2022−0.9 pp

Dec 2022−2.8 pp

Mar 2023−3.3 pp

Jun 2023−5.2 pp

Sep 2023−5.7 pp

Dec 2023+0.1 pp

Mar 2024+1.9 pp

Jun 2024+0.1 pp

Sep 2024+2.6 pp

Dec 2024−8.1 pp

Mar 2025−3.3 pp

Jun 2025+1.7 pp

Sep 2025−0.7 pp

Dec 2025−3.8 pp

Mar 2026−11.2 pp

Jun 2026−6.7 pp

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023+3.5 pp

Sep 2023+3.4 pp

Dec 2023−1.0 pp

Mar 2024−1.0 pp

Jun 2024−5.0 pp

Sep 2024−3.0 pp

Dec 2024+2.0 pp

Mar 2025−6.0 pp

Jun 2025+1.0 pp

Sep 20250.0 pp

Dec 20250.0 pp

Mar 2026+7.0 pp

Jun 20260.0 pp

Relaxo Footwears Ltd · RELAXO

Sep 2021−5.7 pp

Dec 2021−5.8 pp

Mar 2022−5.9 pp

Jun 2022−0.4 pp

Sep 2022−7.5 pp

Dec 2022−5.4 pp

Mar 2023−0.9 pp

Jun 2023+2.1 pp

Sep 2023+4.1 pp

Dec 2023+1.0 pp

Mar 2024+1.0 pp

Jun 2024−2.0 pp

Sep 20240.0 pp

Dec 20240.0 pp

Mar 20250.0 pp

Jun 2025+2.0 pp

Sep 20250.0 pp

Dec 2025−2.0 pp

Mar 2026+1.0 pp

Jun 20260.0 pp

Sreeleathers Ltd · SREEL

Sep 2021+2.9 pp

Dec 2021−1.1 pp

Mar 2022−4.6 pp

Jun 2022+3.2 pp

Sep 2022−6.6 pp

Dec 2022−2.4 pp

Mar 2023+3.9 pp

Jun 2023+1.0 pp

Sep 2023+4.0 pp

Dec 2023−2.3 pp

Mar 2024−6.1 pp

Jun 2024−4.6 pp

Sep 2024−4.2 pp

Dec 2024−0.9 pp

Mar 2025−1.0 pp

Jun 2025−5.8 pp

Sep 2025−0.2 pp

Dec 2025−2.9 pp

Mar 2026+3.3 pp

Jun 2026+7.0 pp

09 · compare level, then change

Profit Scale & Acceleration

Metro Brands Ltd has the highest Net profit among the 7 Footwear companies compared here, at ₹412 crore. Redtape Ltd is next at ₹247 crore. Mirza International Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Metro Brands Ltd leads with ₹412 crore of TTM profit, 66.8% above Redtape Ltd. Mirza International Ltd shows ≥100% on the scoring scale growth from a ₹0 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderMetro Brands Ltd · ₹412 crore

Gap66.8% versus #2 · Redtape Ltd

Persistence4/8 recent comparable periods

Coverage7/7 companies · 125 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₹412 Cr

2Redtape Ltd REDTAPE₹247 Cr

3Relaxo Footwears Ltd RELAXO₹186 Cr

4Campus Activewear Ltd CAMPUS₹154 Cr

5Bata India Ltd BATAINDIA₹146 Cr

Profit growthfastest growers

1Mirza International Ltd MIRZAINT100%

2Sreeleathers Ltd SREEL57%

3Redtape Ltd REDTAPE39%

4Campus Activewear Ltd CAMPUS32%

5Metro Brands Ltd METROBRAND14%

Net profit · company comparison

7/7 level · 7/7 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
Metro Brands Ltd METROBRAND	₹95 Cr	-4.0%	Jun 2026
Bata India Ltd BATAINDIA	₹64 Cr	23%	Jun 2026
Relaxo Footwears Ltd RELAXO	₹55 Cr	12%	Jun 2026
Redtape Ltd REDTAPE	₹44 Cr	13%	Jun 2026
Campus Activewear Ltd CAMPUS	₹26 Cr	18%	Jun 2026
Sreeleathers Ltd SREEL	₹7 Cr	139%	Jun 2026
Mirza International Ltd MIRZAINT	₹-4 Cr	-123%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Bata India Ltd · BATAINDIA

Sep 2021₹37 Cr

Dec 2021₹72 Cr

Mar 2022₹63 Cr

Jun 2022₹119 Cr

Sep 2022₹55 Cr

Dec 2022₹83 Cr

Mar 2023₹66 Cr

Jun 2023₹107 Cr

Sep 2023₹34 Cr

Dec 2023₹58 Cr

Mar 2024₹64 Cr

Jun 2024₹174 Cr

Sep 2024₹52 Cr

Dec 2024₹59 Cr

Mar 2025₹46 Cr

Jun 2025₹52 Cr

Sep 2025₹14 Cr

Dec 2025₹66 Cr

Mar 2026₹2 Cr

Jun 2026₹64 Cr

Campus Activewear Ltd · CAMPUS

Sep 2021₹28 Cr

Dec 2021₹55 Cr

Mar 2022₹40 Cr

Jun 2022₹29 Cr

Sep 2022₹15 Cr

Dec 2022₹48 Cr

Mar 2023₹23 Cr

Jun 2023₹31 Cr

Sep 2023₹0 Cr

Dec 2023₹25 Cr

Mar 2024₹33 Cr

Jun 2024₹25 Cr

Sep 2024₹14 Cr

Dec 2024₹46 Cr

Mar 2025₹35 Cr

Jun 2025₹22 Cr

Sep 2025₹20 Cr

Dec 2025₹64 Cr

Mar 2026₹44 Cr

Jun 2026₹26 Cr

Metro Brands Ltd · METROBRAND

Sep 2021₹53 Cr

Dec 2021₹101 Cr

Mar 2022₹69 Cr

Jun 2022₹105 Cr

Sep 2022₹76 Cr

Dec 2022₹113 Cr

Mar 2023₹69 Cr

Jun 2023₹94 Cr

Sep 2023₹68 Cr

Dec 2023₹99 Cr

Mar 2024₹156 Cr

Jun 2024₹92 Cr

Sep 2024₹72 Cr

Dec 2024₹95 Cr

Mar 2025₹95 Cr

Jun 2025₹99 Cr

Sep 2025₹69 Cr

Dec 2025₹130 Cr

Mar 2026₹118 Cr

Jun 2026₹95 Cr

Mirza International Ltd · MIRZAINT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹3 Cr

Jun 2023₹2 Cr

Sep 2023₹4 Cr

Dec 2023₹4 Cr

Mar 2024₹1 Cr

Jun 2024₹1 Cr

Sep 2024₹6 Cr

Dec 2024₹-6 Cr

Mar 2025₹-4 Cr

Jun 2025₹18 Cr

Sep 2025₹2 Cr

Dec 2025₹-7 Cr

Mar 2026₹-13 Cr

Jun 2026₹-4 Cr

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹28 Cr

Sep 2022₹26 Cr

Dec 2022₹53 Cr

Mar 2023₹35 Cr

Jun 2023₹47 Cr

Sep 2023₹28 Cr

Dec 2023₹61 Cr

Mar 2024₹41 Cr

Jun 2024₹31 Cr

Sep 2024₹25 Cr

Dec 2024₹73 Cr

Mar 2025₹41 Cr

Jun 2025₹39 Cr

Sep 2025₹28 Cr

Dec 2025₹105 Cr

Mar 2026₹70 Cr

Jun 2026₹44 Cr

Relaxo Footwears Ltd · RELAXO

Sep 2021₹69 Cr

Dec 2021₹70 Cr

Mar 2022₹63 Cr

Jun 2022₹39 Cr

Sep 2022₹22 Cr

Dec 2022₹30 Cr

Mar 2023₹63 Cr

Jun 2023₹56 Cr

Sep 2023₹44 Cr

Dec 2023₹39 Cr

Mar 2024₹61 Cr

Jun 2024₹44 Cr

Sep 2024₹37 Cr

Dec 2024₹33 Cr

Mar 2025₹56 Cr

Jun 2025₹49 Cr

Sep 2025₹36 Cr

Dec 2025₹27 Cr

Mar 2026₹68 Cr

Jun 2026₹55 Cr

Sreeleathers Ltd · SREEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹7 Cr

Jun 2023₹6 Cr

Sep 2023₹9 Cr

Dec 2023₹7 Cr

Mar 2024₹5 Cr

Jun 2024₹5 Cr

Sep 2024₹6 Cr

Dec 2024₹6 Cr

Mar 2025₹5 Cr

Jun 2025₹3 Cr

Sep 2025₹9 Cr

Dec 2025₹8 Cr

Mar 2026₹10 Cr

Jun 2026₹7 Cr

Profit growth · reported quarter history

Bata India Ltd · BATAINDIA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202249%

Dec 202215%

Mar 20234.2%

Jun 2023-10%

Sep 2023-38%

Dec 2023-30%

Mar 2024-2.5%

Jun 202463%

Sep 202453%

Dec 20241.7%

Mar 2025-28%

Jun 2025-70%

Sep 2025-73%

Dec 202512%

Mar 2026-96%

Jun 202623%

Campus Activewear Ltd · CAMPUS

Sep 2021—

Dec 2021—

Mar 2022300%

Jun 20221,350%

Sep 2022-46%

Dec 2022-13%

Mar 2023-43%

Jun 20236.9%

Sep 2023-100%

Dec 2023-48%

Mar 202443%

Jun 2024-19%

Sep 2024—

Dec 202484%

Mar 20256.1%

Jun 2025-12%

Sep 202543%

Dec 202539%

Mar 202626%

Jun 202618%

Metro Brands Ltd · METROBRAND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202243%

Dec 202212%

Mar 20230.0%

Jun 2023-10%

Sep 2023-11%

Dec 2023-12%

Mar 2024126%

Jun 2024-2.1%

Sep 20245.9%

Dec 2024-4.0%

Mar 2025-39%

Jun 20257.6%

Sep 2025-4.2%

Dec 202537%

Mar 202624%

Jun 2026-4.0%

Mirza International Ltd · MIRZAINT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-59%

Jun 2024-74%

Sep 202447%

Dec 2024-229%

Mar 2025-461%

Jun 20252,683%

Sep 2025-64%

Dec 2025—

Mar 2026—

Jun 2026-123%

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202368%

Sep 20237.7%

Dec 202315%

Mar 202417%

Jun 2024-34%

Sep 2024-11%

Dec 202420%

Mar 20250.0%

Jun 202526%

Sep 202512%

Dec 202544%

Mar 202671%

Jun 202613%

Relaxo Footwears Ltd · RELAXO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202226%

Sep 2022-68%

Dec 2022-57%

Mar 20230.0%

Jun 202344%

Sep 2023100%

Dec 202330%

Mar 2024-3.2%

Jun 2024-21%

Sep 2024-16%

Dec 2024-15%

Mar 2025-8.2%

Jun 202511%

Sep 2025-2.7%

Dec 2025-18%

Mar 202621%

Jun 202612%

Sreeleathers Ltd · SREEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-29%

Jun 2024-29%

Sep 2024-26%

Dec 2024-9.2%

Mar 202511%

Jun 2025-36%

Sep 202533%

Dec 202521%

Mar 202683%

Jun 2026139%

10 · compare level, then change

Return On Capital Employed

Redtape Ltd has the highest ROCE among the 7 Footwear companies compared here, at 24.5%. Campus Activewear Ltd is next at 21.2%. The same company also holds the highest ROCE change, at +1.7 percentage points. 7 of 7 companies report a comparable reading, the latest through Jun 2026. Its ROCE series carries 12 reported observations across the 20-quarter window.

What the numbers say: Redtape Ltd leads ROCE at 24.5%, 3.3 percentage points above Campus Activewear Ltd. Redtape Ltd has the strongest latest improvement at +1.7 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.

LeaderRedtape Ltd · 24.5%

Gap15.6% versus #2 · Campus Activewear Ltd

Persistence3/8 recent comparable periods

Coverage7/7 companies · 71 observations

Investor read: Redtape 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

1Redtape Ltd REDTAPE25%

2Campus Activewear Ltd CAMPUS21%

3Metro Brands Ltd METROBRAND20%

4Bata India Ltd BATAINDIA13%

5Relaxo Footwears Ltd RELAXO11%

ROCE changefastest improvers

1Redtape Ltd REDTAPE+1.7 pp

2Campus Activewear Ltd CAMPUS+1.4 pp

3Sreeleathers Ltd SREEL0.0 pp

4Relaxo Footwears Ltd RELAXO−0.8 pp

5Metro Brands Ltd METROBRAND−1.5 pp

Return on capital · company comparison

7/7 level · 7/7 change

All-company data · latest reported quarter

Company	ROCE	ROCE change	Reported
Redtape Ltd REDTAPE	26%	+1.7 pp	Jun 2026
Campus Activewear Ltd CAMPUS	19%	+1.4 pp	Jun 2026
Metro Brands Ltd METROBRAND	17%	−1.5 pp	Jun 2026
Bata India Ltd BATAINDIA	10%	−2.8 pp	Jun 2026
Relaxo Footwears Ltd RELAXO	8.9%	−0.8 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Bata India Ltd · BATAINDIA

Sep 20214.5%

Dec 2021—

Mar 20225.8%

Jun 2022—

Sep 202220%

Dec 2022—

Mar 202321%

Jun 2023—

Sep 202322%

Dec 202320%

Mar 202417%

Jun 202421%

Sep 202414%

Dec 202423%

Mar 202513%

Jun 202515%

Sep 202512%

Dec 202514%

Mar 202610%

Jun 2026—

Campus Activewear Ltd · CAMPUS

Sep 202137%

Dec 202135%

Mar 202233%

Jun 2022—

Sep 202233%

Dec 2022—

Mar 202325%

Jun 2023—

Sep 202321%

Dec 2023—

Mar 202417%

Jun 202417%

Sep 202416%

Dec 202422%

Mar 202517%

Jun 202520%

Sep 202517%

Dec 202523%

Mar 202619%

Jun 2026—

Metro Brands Ltd · METROBRAND

Sep 2021—

Dec 2021—

Mar 202215%

Jun 2022—

Sep 202222%

Dec 2022—

Mar 202321%

Jun 2023—

Sep 202318%

Dec 202322%

Mar 202417%

Jun 202421%

Sep 202415%

Dec 202420%

Mar 202518%

Jun 202521%

Sep 202517%

Dec 202521%

Mar 202617%

Jun 2026—

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202329%

Jun 2023—

Sep 202328%

Dec 202331%

Mar 202428%

Jun 202431%

Sep 202422%

Dec 202428%

Mar 202524%

Jun 202528%

Sep 202524%

Dec 202531%

Mar 202626%

Jun 2026—

Relaxo Footwears Ltd · RELAXO

Sep 202122%

Dec 2021—

Mar 202216%

Jun 2022—

Sep 202214%

Dec 2022—

Mar 202311%

Jun 2023—

Sep 202312%

Dec 202315%

Mar 202412%

Jun 202413%

Sep 202411%

Dec 202412%

Mar 20259.7%

Jun 202511%

Sep 20259.4%

Dec 202511%

Mar 20268.9%

Jun 2026—

ROCE change · reported quarter history

Bata India Ltd · BATAINDIA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+15.8 pp

Dec 2022—

Mar 2023+15.5 pp

Jun 2023—

Sep 2023+1.5 pp

Dec 2023—

Mar 2024−4.0 pp

Jun 2024—

Sep 2024−7.4 pp

Dec 2024+2.9 pp

Mar 2025−4.3 pp

Jun 2025−6.4 pp

Sep 2025−2.5 pp

Dec 2025−8.9 pp

Mar 2026−2.8 pp

Jun 2026—

Campus Activewear Ltd · CAMPUS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−4.1 pp

Dec 2022—

Mar 2023−7.7 pp

Jun 2023—

Sep 2023−11.3 pp

Dec 2023—

Mar 2024−8.3 pp

Jun 2024—

Sep 2024−5.3 pp

Dec 2024—

Mar 2025+0.2 pp

Jun 2025+3.0 pp

Sep 2025+1.0 pp

Dec 2025+1.4 pp

Mar 2026+1.4 pp

Jun 2026—

Metro Brands Ltd · METROBRAND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023+6.1 pp

Jun 2023—

Sep 2023−4.1 pp

Dec 2023—

Mar 2024−4.2 pp

Jun 2024—

Sep 2024−2.9 pp

Dec 2024−1.9 pp

Mar 2025+1.3 pp

Jun 2025+0.8 pp

Sep 2025+1.1 pp

Dec 2025+0.4 pp

Mar 2026−1.5 pp

Jun 2026—

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024−1.8 pp

Jun 2024—

Sep 2024−5.5 pp

Dec 2024−2.3 pp

Mar 2025−3.5 pp

Jun 2025−2.5 pp

Sep 2025+2.0 pp

Dec 2025+2.6 pp

Mar 2026+1.7 pp

Jun 2026—

Relaxo Footwears Ltd · RELAXO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−8.3 pp

Dec 2022—

Mar 2023−5.3 pp

Jun 2023—

Sep 2023−1.3 pp

Dec 2023—

Mar 2024+1.4 pp

Jun 2024—

Sep 2024−1.4 pp

Dec 2024−2.6 pp

Mar 2025−2.2 pp

Jun 2025−1.5 pp

Sep 2025−1.5 pp

Dec 2025−1.1 pp

Mar 2026−0.8 pp

Jun 2026—

11 · compare level, then change

Valuation Against Growth & Quality

Redtape Ltd has the lowest PEG among the 7 Footwear companies compared here, at 0.76×. Campus Activewear Ltd is next at 2.04×. Sreeleathers Ltd has the lowest P/E at 23.5×, so level and change sit with different companies. 4 of 7 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Redtape Ltd has the lowest comparable PEG at 0.76×, 62.7% below Campus Activewear Ltd. Only 4 of 7 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderRedtape Ltd · 0.76×

Gap62.7% versus #2 · Campus Activewear Ltd

Persistence0/8 recent comparable periods

Coverage4/7 companies · 35 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 feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

1Redtape Ltd REDTAPE0.8

2Campus Activewear Ltd CAMPUS2.0

3Metro Brands Ltd METROBRAND4.0

4Relaxo Footwears Ltd RELAXO6.2

P/Elowest P/E

1Sreeleathers Ltd SREEL23.5

2Redtape Ltd REDTAPE26.0

3Campus Activewear Ltd CAMPUS42.5

4Relaxo Footwears Ltd RELAXO43.6

5Bata India Ltd BATAINDIA48.0

Valuation · company comparison

4/7 level · 6/7 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
Bata India Ltd BATAINDIA	10.4	55.7	Jun 2026
Relaxo Footwears Ltd RELAXO	6.2	57.4	Jun 2026
Metro Brands Ltd METROBRAND	4.0	68.3	Jun 2026
Campus Activewear Ltd CAMPUS	2.0	48.4	Jun 2026
Redtape Ltd REDTAPE	0.8	31.5	Jun 2026
Sreeleathers Ltd SREEL	—	17.6	Jun 2026
Mirza International Ltd MIRZAINT	—	39.9	Jun 2026

Full 20-quarter history · every available company

PEG · reported quarter history

Bata India Ltd · BATAINDIA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20221.7

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202310.4

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Campus Activewear Ltd · CAMPUS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20241.9

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20257.9

Jun 20252.0

Sep 20251.7

Dec 20252.4

Mar 20262.6

Jun 20262.0

Metro Brands Ltd · METROBRAND

Sep 2021—

Dec 20213.5

Mar 202212.9

Jun 2022—

Sep 20222.0

Dec 20228.7

Mar 2023—

Jun 2023—

Sep 202314.2

Dec 2023—

Mar 2024—

Jun 20245.8

Sep 20244.8

Dec 20243.8

Mar 20252.6

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 20264.0

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20237.6

Dec 20233.7

Mar 20242.9

Jun 2024—

Sep 20245.0

Dec 20243.9

Mar 2025—

Jun 2025—

Sep 20254.3

Dec 20250.9

Mar 20261.2

Jun 20260.8

Relaxo Footwears Ltd · RELAXO

Sep 20212.0

Dec 20212.7

Mar 20227.5

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20243.2

Jun 20243.5

Sep 202411.1

Dec 2024—

Mar 2025—

Jun 20256.2

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

P/E · reported quarter history

Bata India Ltd · BATAINDIA

Sep 2021967.8

Dec 2021346.5

Mar 2022244.8

Jun 2022204.3

Sep 202280.2

Dec 202268.5

Mar 202356.9

Jun 202366.7

Sep 202366.6

Dec 202367.5

Mar 202460.6

Jun 202467.7

Sep 202474.7

Dec 202473.2

Mar 202562.6

Jun 202568.0

Sep 202568.5

Dec 202565.7

Mar 202642.3

Jun 202655.7

Campus Activewear Ltd · CAMPUS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022185.4

Sep 2022312.9

Dec 2022101.8

Mar 202386.6

Jun 202380.5

Sep 202375.0

Dec 202382.8

Mar 202482.2

Jun 202499.5

Sep 2024128.7

Dec 202499.0

Mar 202559.3

Jun 202570.9

Sep 202568.6

Dec 202564.6

Mar 202648.4

Jun 202648.4

Metro Brands Ltd · METROBRAND

Sep 2021—

Dec 2021182.6

Mar 2022232.2

Jun 2022223.3

Sep 202275.6

Dec 202268.3

Mar 202359.7

Jun 202370.4

Sep 202387.6

Dec 2023101.7

Mar 202496.2

Jun 202481.0

Sep 202484.3

Dec 202482.0

Mar 202567.1

Jun 202588.2

Sep 202592.8

Dec 202587.7

Mar 202663.7

Jun 202668.3

Mirza International Ltd · MIRZAINT

Sep 20212.2

Dec 20213.1

Mar 20222.8

Jun 20223.7

Sep 20225.9

Dec 20225.5

Mar 202313.5

Jun 202322.6

Sep 202330.1

Dec 202345.4

Mar 202442.0

Jun 202450.6

Sep 202460.0

Dec 202442.6

Mar 202539.9

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Redtape Ltd · REDTAPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202343.8

Dec 202352.4

Mar 202453.6

Jun 202460.1

Sep 202463.8

Dec 202477.9

Mar 202547.5

Jun 202542.0

Sep 202545.5

Dec 202537.8

Mar 202629.5

Jun 202631.5

Relaxo Footwears Ltd · RELAXO

Sep 202196.7

Dec 2021111.8

Mar 202295.2

Jun 2022105.2

Sep 2022104.2

Dec 2022116.7

Mar 2023137.5

Jun 2023146.4

Sep 2023130.3

Dec 2023116.0

Mar 2024100.5

Jun 2024102.8

Sep 2024106.3

Dec 202485.6

Mar 202557.7

Jun 202562.1

Sep 202561.3

Dec 202557.6

Mar 202637.0

Jun 202657.4

Sreeleathers Ltd · SREEL

Sep 202133.5

Dec 202126.0

Mar 202223.9

Jun 202222.4

Sep 202225.9

Dec 202221.7

Mar 202317.2

Jun 202317.6

Sep 202321.0

Dec 202332.5

Mar 202422.2

Jun 202424.6

Sep 202426.3

Dec 202426.5

Mar 202523.1

Jun 202526.2

Sep 202525.7

Dec 202521.8

Mar 202616.5

Jun 202617.6

12 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Footwear comparison names 4 specific ways its own evidence can mislead, all listed below. All 7 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

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.

13 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 7 Footwear companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-09-11. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-09-11 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG 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 standing5 cross-checked · 2 unverified · 0 withheld, of 7 graded companies.

How a second data feed is admitted, and what happens when it disagrees

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.

14 · questions investors ask, short speakable answers

Footwear company comparison FAQs

These 24 answers restate the Footwear comparison above in question form. Every one is computed from the same 7 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-09-11. Nothing here is estimated, and none of it is a recommendation.

Is the Footwear sector outperforming NIFTY 500?

Footwear has underperformed NIFTY 500 by 12.2% over 52 weeks and 6.2% over 13 weeks. 1 of 7 covered companies beat NIFTY on Mansfield relative strength, while 2 of 6 beat the sector itself.

Which Footwear company is largest by revenue?

Bata India Ltd leads with revenue of ₹3,553 crore, based on 7 of 7 comparable companies through Jun 2026.

Which Footwear company is growing fastest?

Redtape Ltd has the fastest current revenue growth at 19%, across 7 of 7 comparable companies.

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

Redtape Ltd ranks first at 69.3/100 with 100% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Footwear company has the lowest comparable PEG?

Redtape Ltd has the lowest comparable PEG at 0.76, among 4 of 7 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Footwear comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 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.

Is there a Nifty Footwear index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Footwear, this page builds its own equal-weight basket of 7 listed Footwear companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

Which are the best Footwear stocks in India?

Ranked by this page's four-factor score, Redtape Ltd places first among 7 listed Footwear companies, followed by Sreeleathers Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 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 7 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 Jun 2026.

Which Footwear company is the biggest?

Bata India Ltd is the largest, with trailing-twelve-month revenue of ₹3,553 crore, ahead of Metro Brands Ltd at ₹2,955 crore. That covers 7 of 7 companies with comparable reporting through Jun 2026.

Which Footwear company has the best profit margins?

Metro Brands Ltd has the highest operating margin at 30%, from 7 of 7 comparable companies. Sreeleathers 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 ₹412 crore of trailing-twelve-month net profit, from 7 of 7 comparable companies. Mirza International Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

Which Footwear company earns the highest return on capital?

Redtape Ltd leads on return on capital employed at 24.5%, across 7 of 7 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 PEG — where a LOWER number is cheaper — Redtape Ltd screens cheapest at 0.76×. Only 4 of 7 companies have earnings and growth steady enough for the ratio to mean anything, 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.

Is the Footwear sector beating the market?

Footwear has underperformed NIFTY 500 by 12.2% over the last 52 weeks and 6.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 7 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Footwear stock has the strongest price momentum?

Sreeleathers 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 69.3 out of 100 with 100% evidence confidence, from 27.9 points on growth and earnings, 18 on capital efficiency, 18.9 on valuation and 4.5 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 7 listed companies over up to 20 reported quarters of fundamentals, ending Jun 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 7 Footwear companies on this page carry ₹56,257 crore of combined market value. Metro Brands Ltd is the largest at ₹25,629 crore, about 46% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-17.

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

The median price-to-earnings ratio across the 7 Footwear companies on this page is 43.6×, measured on the 6 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 2026-09-17.

How is the Footwear sector performing?

1 of the 7 covered Footwear companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 12.2% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-17.

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.

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Not SEBI Registered !! Not Investment advice !!