|₹5.02 / ₹1.43|
What is shareholding pattern? Who are shareholders?
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NB Footwear is a part of Hyderabad's most famous group the Rs 250-cr 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.