Relaxo Footwears Ltd
Relaxo Footwears Limited is the largest footwear manufacturing company in India, which deals in non-leather products i.e. rubber/EVA slippers, canvas shoes, sport shoes, sandals, school shoes and other types of footwear. It is also the leader in 'value' segment footwear.
It has a portfolio of renowned brands like Relaxo, Sparx, Flite and Bahamas. The company sells its products through retailers served through distributors, retail outlets, exports and e-commerce / modern trade. [1]
- Market Cap ₹ 15,523 Cr.
- Current Price ₹ 624
- High / Low ₹ 950 / 617
- Stock P/E 85.7
- Book Value ₹ 80.8
- Dividend Yield 0.48 %
- ROCE 13.9 %
- ROE 10.5 %
- Face Value ₹ 1.00
Pros
- Company has been maintaining a healthy dividend payout of 34.8%
Cons
- Stock is trading at 7.72 times its book value
- The company has delivered a poor sales growth of 4.92% over past five years.
- Company has a low return on equity of 11.0% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Leather Industry: Leather / Leather Products
Part of BSE 250 SmallCap Index BSE Consumer Discretionary BSE Allcap BSE MidCap BSE 500
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
981 | 1,180 | 1,441 | 1,668 | 1,631 | 1,941 | 2,292 | 2,410 | 2,359 | 2,653 | 2,783 | 2,914 | 2,887 | |
871 | 1,032 | 1,240 | 1,427 | 1,400 | 1,639 | 1,964 | 1,998 | 1,861 | 2,235 | 2,442 | 2,503 | 2,493 | |
Operating Profit | 110 | 148 | 201 | 241 | 231 | 302 | 328 | 413 | 498 | 418 | 341 | 411 | 394 |
OPM % | 11% | 13% | 14% | 14% | 14% | 16% | 14% | 17% | 21% | 16% | 12% | 14% | 14% |
1 | 2 | 0 | 7 | 14 | 4 | 12 | 8 | 22 | 23 | 16 | 26 | 23 | |
Interest | 18 | 23 | 18 | 23 | 15 | 9 | 9 | 19 | 19 | 17 | 22 | 21 | 19 |
Depreciation | 26 | 31 | 40 | 47 | 51 | 54 | 62 | 109 | 110 | 114 | 125 | 147 | 155 |
Profit before tax | 68 | 96 | 143 | 178 | 178 | 244 | 268 | 292 | 391 | 311 | 210 | 269 | 243 |
Tax % | 34% | 31% | 28% | 32% | 33% | 34% | 35% | 22% | 25% | 25% | 26% | 26% | |
45 | 66 | 103 | 120 | 120 | 161 | 175 | 226 | 292 | 233 | 154 | 200 | 181 | |
EPS in Rs | 1.87 | 2.74 | 4.29 | 5.01 | 4.99 | 6.69 | 7.07 | 9.11 | 11.74 | 9.35 | 6.21 | 8.05 | 7.28 |
Dividend Payout % | 5% | 5% | 6% | 6% | 10% | 11% | 13% | 14% | 21% | 27% | 40% | 37% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 5% |
3 Years: | 7% |
TTM: | 0% |
Compounded Profit Growth | |
---|---|
10 Years: | 12% |
5 Years: | 3% |
3 Years: | -11% |
TTM: | -7% |
Stock Price CAGR | |
---|---|
10 Years: | 17% |
5 Years: | 0% |
3 Years: | -21% |
1 Year: | -31% |
Return on Equity | |
---|---|
10 Years: | 16% |
5 Years: | 14% |
3 Years: | 11% |
Last Year: | 10% |
Balance Sheet
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 6 | 6 | 6 | 12 | 12 | 12 | 12 | 25 | 25 | 25 | 25 | 25 | 25 |
Reserves | 208 | 271 | 362 | 468 | 594 | 749 | 1,093 | 1,248 | 1,548 | 1,735 | 1,830 | 1,976 | 1,986 |
225 | 198 | 239 | 236 | 178 | 153 | 112 | 139 | 144 | 174 | 164 | 205 | 212 | |
147 | 182 | 234 | 281 | 286 | 335 | 394 | 430 | 459 | 448 | 476 | 508 | 500 | |
Total Liabilities | 587 | 657 | 841 | 997 | 1,070 | 1,250 | 1,611 | 1,841 | 2,176 | 2,383 | 2,495 | 2,714 | 2,722 |
327 | 366 | 472 | 531 | 541 | 525 | 848 | 981 | 938 | 987 | 1,150 | 1,371 | 1,364 | |
CWIP | 24 | 24 | 2 | 28 | 62 | 138 | 11 | 46 | 118 | 149 | 89 | 33 | 46 |
Investments | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 338 | 194 | 225 | 108 | 134 |
236 | 267 | 367 | 438 | 466 | 587 | 752 | 814 | 782 | 1,052 | 1,030 | 1,202 | 1,178 | |
Total Assets | 587 | 657 | 841 | 997 | 1,070 | 1,250 | 1,611 | 1,841 | 2,176 | 2,383 | 2,495 | 2,714 | 2,722 |
Cash Flows
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
54 | 125 | 107 | 159 | 180 | 154 | 123 | 319 | 513 | 56 | 400 | 235 | |
-82 | -70 | -130 | -130 | -89 | -108 | -56 | -116 | -453 | 15 | -258 | -99 | |
29 | -51 | 21 | -31 | -89 | -46 | -68 | -203 | -56 | -70 | -138 | -106 | |
Net Cash Flow | 1 | 4 | -1 | -2 | 1 | -0 | -1 | 1 | 4 | 1 | 3 | 30 |
Ratios
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 13 | 21 | 21 | 24 | 28 | 33 | 35 | 26 | 28 | 34 | 35 | 45 |
Inventory Days | 124 | 109 | 163 | 147 | 146 | 130 | 130 | 157 | 154 | 202 | 154 | 179 |
Days Payable | 35 | 39 | 61 | 63 | 63 | 72 | 58 | 65 | 81 | 67 | 69 | 76 |
Cash Conversion Cycle | 102 | 91 | 123 | 108 | 110 | 90 | 107 | 119 | 101 | 170 | 121 | 148 |
Working Capital Days | 31 | 20 | 31 | 32 | 32 | 43 | 56 | 60 | 49 | 82 | 64 | 75 |
ROCE % | 22% | 26% | 30% | 30% | 26% | 30% | 26% | 24% | 26% | 18% | 12% | 14% |
Documents
Announcements
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 4 Dec
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Announcement under Regulation 30 (LODR)-Change in Management
3 Dec - Retirement of Mr. Vijay Wadhwani from senior management.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
14 Nov - Relaxo Footwears Q2 & H1 FY25 earnings call transcript.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
11 Nov - Link for audio recording of Q2 FY25 results call.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
9 Nov - Newspaper Advertisement of Unaudited Financial Results for the quarter and half year ended on September 30, 2024
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
from bse
Concalls
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Nov 2024Transcript PPT
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Jul 2024TranscriptNotesPPT
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May 2024Transcript PPT REC
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Jan 2024TranscriptNotesPPT
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Nov 2023TranscriptPPT
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Nov 2023Transcript PPT
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Jul 2023TranscriptNotesPPT
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May 2023Transcript PPT
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Feb 2023TranscriptNotesPPT
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Nov 2022Transcript PPT
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May 2022Transcript PPT
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Jan 2022TranscriptNotesPPT
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Nov 2021Transcript PPT
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May 2021Transcript PPT
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Nov 2020Transcript PPT
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Jun 2020TranscriptPPT
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Jun 2020Transcript PPT
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Feb 2020TranscriptNotesPPT
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Dec 2019TranscriptPPT
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Nov 2019Transcript PPT
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May 2019TranscriptPPT
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Mar 2019Transcript PPT
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Sep 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Feb 2018TranscriptNotesPPT
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Nov 2017TranscriptNotesPPT
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Aug 2017TranscriptNotesPPT
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May 2017TranscriptNotesPPT
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Feb 2017TranscriptNotesPPT
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Jan 2017TranscriptNotesPPT
Market Position
The company is the largest footwear manufacturer and is ranked among the top 300 Most Valuable Companies in India. [1]