"We have merged Liberty Retail with Liberty shoes to make the company a lot more viable for investors and to increase operational efficiencies. We are looking at clocking Rs 500 crore turnover this fiscal," said Liberty Group Director Retail Anupam Bansal.
Liberty Shoes Ltd today announced merger of its subsidiary, Liberty Retail Revolutions Ltd with the company to boost its retail presences and increase operational efficiency.
The company is eyeing over 40 percent increase in turnover at Rs 500 crore this year compared with Rs 350 crore turnover achieved in the previous year.
"We have merged Liberty Retail with Liberty shoes to make the company a lot more viable for investors and to increase operational efficiencies. We are looking at clocking Rs 500 crore turnover this fiscal," said Liberty Group Director Retail Anupam Bansal.
Also read: Retail sector to remain positive: CARE Ratings
Bansal said the company will invest Rs 50 crore in increase its retail presence is working on product development to make brand more fashionable to achieve this growth target.
"We will invest up to Rs 50 crore to set up to 200 new Liberty showrooms. New showrooms will be mix of company owned and franchise stores," he added.
With this merger the company will have 500 exclusive showrooms, statement added.
Liberty Shoes stock price
On April 01, 2014, Liberty Shoes closed at Rs 150.50, up Rs 1.85, or 1.24 percent. The 52-week high of the share was Rs 163.20 and the 52-week low was Rs 67.80.
The company's trailing 12-month (TTM) EPS was at Rs 7.06 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 21.32. The latest book value of the company is Rs 91.80 per share. At current value, the price-to-book value of the company is 1.64.
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