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Relaxo Footwears Ltd share Price Today

Company details

826.85
835.15
758.25
974.00
6M Return -8.84%
1Y Return -8.83%
Mkt Cap.(Cr) 20,638.29
Volume 56,635
Div Yield 0.36%
OI
-
OI Chg %
-
Volume 56,635

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About The Stock

    Relaxo is India’s leading footwear manufacturing company, boasting of largest capacity of 10.0 lakh pairs per day. Relaxo is a dominant player in the open footwear space (~76% of sales), with its strong portfolio of brands (‘Flite’, ‘Bahamas’, ‘Sparx’, ‘Relaxo).

    • Market leader in value priced segment selling ~19 crore pairs annually
    • Relaxo, over the years, has maintained b/s prudence with controlled working capital, healthy asset turns of 2.5x and generating RoCE of 20%+
Q3FY23:

    Gross margins recovered but EBITDA margins continued to be significantly lower YoY due to negative operating leverage.

    • Revenue fell 8% YoY to ₹ 681 crore (up 2% QoQ). As per our calculation, volumes continued to stay under pressure (~ 4.1 crore pair), down 8% YoY. Owing to price cuts average realisation fell 4% QoQ at ₹ 165/pair
    • Gross margins were at 53% vs. 48.9% in Q2FY23 and 53.2% in Q3FY22 owing to easing of raw material (EVA) prices. However, negative operating leverage led to EBITDA margins contracting by 580 bps YoY to 10.6%
    • PAT for the quarter declined 57% YoY (up 35% QoQ) to ₹ 30 crore

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Relaxo Footwears announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue at Rs 747 crore in Q4FY24 as compared to Rs 765 crore in Q4 FY23, a marginal decline of 2% YoY. This is attributed to a slight decline in overall volumes, which was partly offset by improved average realisation.
  • EBITDA at Rs 120 crore in Q4FY24 as against Rs 118 crore in corresponding quarter of previous year, registered YoY growth of 2%. EBITDA margin stood at 16.1% during the quarter as compared to 15.4% in Q4 FY23, up by 69 bps.
  • Profit after Tax at Rs 61 crore in Q4FY24 as compared to Rs 63 crore in Q4 FY23. PAT Margin stood at 8.2% in Q4FY24 as compared to 8.3% in the corresponding quarter of previous year.

FY24 Financial Highlights:

  • Revenue at Rs 2,914 crore in FY24, an increase of 5% as compared to Rs 2,783 crore in FY23.
  • EBITDA at Rs 407 crore in FY24, up by 21%, from Rs 336 crore in FY23. EBITDA margin stood at 14.0% in FY24 as compared to 12.1% in FY23, improved by 188 bps.
  • Profit after Tax at Rs 200 crore in FY24, up from Rs 154 crore in FY23 reported an improvement of 30% YoY. PAT Margin at 6.9% in FY24 as compared to 5.6% in FY23, up by 133 bps.

Commenting on the results and performance, Ramesh Kumar Dua, Chairman and Managing Director said: “We have achieved a moderate increase in revenue for FY24, with a notable improvement in profitability. This performance was largely driven by a significant uptick in open-footwear volumes, a testament to the efficacy of our strategic initiatives to regain market share. During the quarter, the company has implemented Quality Control Orders as issued by the Bureau of Indian Standards (BIS) and now all our products are ISI marked.

This year, we have taken major sales transformation initiatives to enhance our connect with distributors, retailers and consumers. We have undertaken a major digital initiative to have our retailers directly connected with the company through our ‘Relaxo Parivaar’ app. In a short time frame, we have achieved an industry leading retailer connect through the app and expect this to grow further in the coming year. To help our distributors drive secondary sales to retailers, we have equipped them with a revamped Distributor Management System. We are also expanding our ecommerce operations by directly selling to consumers using ‘Brand as a Seller’ model on all major ecommerce platforms. These initiatives will help the company to improve our market connect and have a positive impact on growth.”

Result PDF

View Other Company Results

Relaxo Footwears Ltd shares SWOT Analysis

Strengths (6)

  • Growth in Net Profit with increasing Profit Margin (QoQ)
  • Company with Low Debt
  • Company able to generate Net Cash - Improving Net Cash Flow for last 2 years

Weakness (2)

  • Degrowth in Quarterly Revenue and Profit in Recent Results(YoY)
  • Fall in Quarterly Revenue and Net Profit (YoY)

Opportunity (0)

Data not found

Threats (1)

  • High PE (PE > 40)

Resistance and support

R1 833.9
R2 838.7
R3 842.2
Pivot

830.35

S1 825.6
S2 822.1
S3 817.3
EMA SMA
823.0
825.9
837.5
857.4
817.2
825.1
832.2
868.9
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 2022-10-25 981.05 156387 BSE
ISHARES MSCI INDIA SMALL-CAP ETF Block Purchase 2022-10-25 981.05 17089 BSE
ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 2022-10-25 981.05 156387 BSE
Name Category Shares
RAMESH KUMAR DUA PROMOTER 23.47%
MUKAND LAL DUA PROMOTER 20.39%
USHA DUA PROMOTER 3.84%
LALITA DUA PROMOTER 3.83%
GAURAV KUMAAR DUA PROMOTER 3.75%
NITIN DUA PROMOTER 3.75%
RAHUL DUA PROMOTER 3.75%
RITESH DUA PROMOTER 3.75%
NIKHIL DUA PROMOTER 3.71%
SAKSHI DUA PROMOTER 0.81%

OUR RESEARCH VIEW

Investment recommendation
Call Date
06 Feb 2023
Entry Price 775.00
Target Price 745.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Relaxo Footwears Ltd Stocks COMPARISON

Financials( in Cr) Relaxo Footwears Ltd Metro Brands Ltd Bata India Ltd Campus Activewear Ltd Mayur Uniquoters Ltd
Price 829.05 1,237.95 1,449.40 280.45 655.55
% Change -0.31 -1.18 -0.44 -0.81 -2.18
Mcap Cr 20,638.29 33,661.59 18,628.85 8,560.90 2,881.34
Revenue TTM Cr 2,782.77 2,127.10 3,451.57 1,484.25 775.63
Net Profit TTM Cr 154.47 363.35 323.00 117.12 104.21
PE TTM 103.14 82.50 64.21 96.48 24.00
1 Year Return -8.83 25.18 -10.87 -13.35 28.51
ROCE 11.61 24.80 19.59 22.88 17.66
ROE 8.55 25.84 19.86 23.91 14.27
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 1,855.05 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 32,550.52 645.34
LAST 3M 103,712.87 -29,605.88
LAST 6M 176,931.00 -14,371.69
LAST 12M 290,309.13 100,312.35

Relaxo Footwears Ltd Information

Stock PE (TTM)
103.14
Promoter Holding
71.27%
Book Value
80.3858
ROCE
11.61%
ROE
8.55%
Description
  • Relaxo Footwears Ltd. is a leading footwear manufacturer in India and ranks among the top 500 most valuable companies in the country. Its product portfolio includes sandals, slippers, and casual and sports shoes. It was incorporated in 1984, with its headquarters in New Delhi. During FY 2021-2022, the company recorded a total revenue of Rs HYPERLINK "https://economictimes.indiatimes.com/relaxo-footwears-ltd/stocks/companyid-7829.cms" 2,676.99 crore, up 12.39% from the previous financial year, 2020-2021. On 29 August 2022, Relaxo Footwears Ltd.’s market capitalisation stood at Rs HYPERLINK "https://www.moneycontrol.com/india/stockpricequote/leather-products/relaxofootwears/RF07" 24,420 crore.  

    The company is listed on the Bombay Stock Exchange with the code 530517 and on the National Stock Exchange with the code RELAXO. It is also listed on the MCX Stock Exchange.  

    Relaxo Footwears Ltd.’s well-known brands include Relaxo, Flite, Sparx, and Bahamas. Relaxo is synonymous with rubber slippers. Flite is recognised for semi-formal and fashionable slippers. Sparx offers sandals, slippers, and sports shoes, while Bahamas offers a colourful range of casual flip-flops.  

    Relaxo Footwears Ltd.’s shareholding pattern on 30 June 2022 represented a foreign institutional investor stake of 3.15%, a domestic institutional investor stake of 7.06%, a promoter stake of 70.78%, and a public stake of 19%. The leading promoter is Mr Ramesh Kumar Dua with a 23.23% share, followed by Mr Mukund Lal Dua with a 20.14% share. In the June 2022 quarter, FII holdings decreased from 3.22% to 3.15%, while mutual funds increased holdings from 6.93% to 7.06%.  

    The company’s board of members includes Mr Ramesh Kumar Dua, Mr Rajeev Rupendra Bhadauria, Mr Vivek Kumar, Mr Kuldip Singh Dhingra, Mr Mukund Lal Dua, Mr Deval Ganguly, Mr Gaurav Dua, Mr Nikhil Dua, Mr Pankaj Shrimali, and Ms Deepa Verma. The auditors of the company are B R Maheshwari & Co. LLP. The company had a total of 24.89 crore shares outstanding as of 30 June 2022.  

    On 29 August 2022, Relaxo Footwears Ltd.’s share price closed at Rs 983.50 on BSE. It closed at Rs 981.05 on NSE. The 52-week high for Relaxo Footwears Ltd.’s share price was Rs 1,448, and the 52-week low for the company’s share price was Rs 925. Over one year, Relaxo Footwears Ltd.’s share gave its investors a return of -15.80%.  

    The company’s peers include Bata India Ltd., Metro Brands Ltd., Campus Activewear Ltd., and Mirza International Ltd. 

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: complianceofficer@icicisecurities.com. Investment in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose 

Registered Address

Aggarwal City Square Plot-10, Manglam Place Sec-3 Rohini, Delhi, Delhi, 110085

Tel : 91-011-46800600/46800700
Email : cs:relaxofootwear.com
Website : http://www.relaxofootwear.com
Registrar

Karvy Computershare Pvt Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 530517
NSE Code : RELAXO
Book Closure Date (Month) : Aug
BSE Group : A
ISIN : INE131B01039

FAQ’s on Relaxo Footwears Ltd Shares

You can buy Relaxo Footwears Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Relaxo Footwears Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 19, 2024 03:59 PM the closing price of Relaxo Footwears Ltd was Rs.829.05.

The latest PE ratio of Relaxo Footwears Ltd as of Jun 19, 2024 03:59 PM is 103.14

The latest PB ratio of Relaxo Footwears Ltd as of Jun 19, 2024 03:59 PM is 0.10

The 52-week high of Relaxo Footwears Ltd share price is Rs. 974.00 while the 52-week low is Rs. 758.25

According to analyst recommendations, Relaxo Footwears Ltd Share has a "Buy" rating for the long term.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 19, 2024 03:59 PM, the market cap of Relaxo Footwears Ltd stood at Rs. 20,638.29.

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