Lehar Footwears capacity Growth Outlook Summary

Lehar Footwears Limited has taken a crucial operational step by operationalizing its new sports footwear facility in Kundli, Haryana. By expanding monthly sports shoe capacity by 150% from 1.0 lakh to 2.5 lakh pairs—with a defined trajectory toward 5.0 lakh pairs—the company is pivoting toward higher-value athleisure and sports categories. The integration of 5th-generation automated machinery and an in-house design studio positions Lehar to transition from simple low-margin mass footwear into higher-margin Original Equipment Manufacturing (OEM) and Original Design Manufacturing (ODM) partnerships with major domestic and global brands, alongside expanding its own brand "RANNR". This expansion is estimated to contribute an additional ₹63 Cr to ₹90 Cr in annual top-line growth at current phase capacity. While the strategic direction directly aligns with rising consumer demand for athleisure products, investors should maintain a HOLD position until execution metrics, customer acquisition rates for OEM production, and balance sheet debt metrics are fully visible in subsequent quarterly reporting.