NB Footwear Ltd Share Price

Summary

NB Footwear Limited was incorporated on September 24, 1987 as a Private Limited Company and later converted to Public Limited Company. The Company is in the business of tanners, processors, manufacturer and dealer in the hides of skins of all animal leather, leather goods and footwear of all kinds. It is a part of Hyderabads most famous group the Rs 250 Crore Nava Bharat conglomerate. The company commenced business in 1987 with an installed capacity for 3 lac pairs of full shoes at their advantageously located plant at Cheduvalai (North Arcot district), Tamilnadu. In the initial years, it ran up an accumulated loss of Rs 2 cr. It then undertook jobwork for Bata India but had to discontinue it when the government stipulated that Bata should sub-contract only to small-scale units. Although it had a huge capacity, NB Footwear could not receive orders from the market. Nava Bharat Enterprises, a recognised Star Trading House, took up a stake in this company. Nava Bharat Enterprises does not have a plant. But it maintains a leather division and all the work is carried out at NB Footwear on a job-order basis. It then exports to Berger Schuh, Germany, a trading agency which supplies designs to NB Footwear. The shoes are sold to leading names in Germany such as Remo, Tiechmann, Karstadt, etc.After successfully overcoming its initial hiccups and teething problems, the company doubled its capacity by 1990 and bagged a large export order of Rs 7 cr. Apart from Berger, the company exports
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