The actions of this shoe manufacturer increased more than 1,600% in a decade

NEW DELHI: As the equity indexes witnessed a record run in the past, it has emerged that some shoe manufacturers are one of those that have a constant performance by offering high returns in the long term and year after year. One of those stocks is from Indian dressing gown which has increased more than 1,600 percent in a decade.

The stock, which traded at Rs 98.08 in 2010 (January 4 to be precise), increased to Rs 1,751 on January 2, 2020, a growth of 1,685.27 percent in 10 years, showed a search on the BSE website. In the last five years, it has increased 163.73 percent.

Annually, the price of the shares of the Calcutta-based company, which stood at Rs 1127.35, as of January 1, 2019, has gained about 55.32 percent.

On the other hand, rival Relaxo Footwears has also had exceptional performance, with a yield of 68.77 percent in one year, 272.39 percent in five years and 6,182.54 percent in the last 10 years.

However, Khadim India lost around 74.43 percent during this period.

India is the second largest world footwear producer after China, representing 13 percent of world footwear production with 16 billion pairs, according to the ministry of micro, small and medium enterprises (MSMEs).

Indian dressing gown , which is the largest retailer of footwear in India and a part of the Bata Shoe Organization, has a retail network of over 1,200 stores with a turnover estimated at Rs 50,000 crore, including Rs 32,000 crore domestic revenue and Rs 18,000 crore export revenue.

Bata (BN) BV of Netherlands, the parent company, cuurently holds 52.96 per cent stake in Indian dressing gown , BSE data showed.