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Add Relaxo Footwears Ltd For Target Rs. 850 - Motilal Oswal Financial Services Ltd * Relaxo Footwears (Relaxo) posted a healthy 11% YoY revenue growth that translated into 25%/46% YoY growth in EBITDA/PAT (10% miss) in 1QFY24. Price reductions have sharply improved its competitive edge that drove healthy volume growth, while softening RM prices have aided its margins. * Price reduction, clearing of old high-price inventories, softening RM prices and renewed focus on sports footwear with the introduction of a new range will bolster its improving growth outlook. We have la...
Add Relaxo Footwears Ltd For Target Rs. 850 - Motilal Oswal Financial Services Ltd
Add Relaxo Footwears Ltd For Target Rs. 850 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
31/07/2023 12:07:16 PM
Add Relaxo Footwears Ltd For Target Rs.972 - Centrum Broking Ltd Relaxo Footwears’ sales grew by 11% YoY led by volume growth (atleast 22-25% volume growth as per our estimates). Volumes improved significantly led by price correction efforts. Price corrections were taken to reduce the meaningful price differential that had occurred during the 1HFY23 between Relaxo and its peers. We expect Relaxo to recoup the lost market share during FY23. Healthy growth was across closed and open footwear. Gross margins improved by 327bps led by softening of RM pric...
Add Relaxo Footwears Ltd For Target Rs.972 - Centrum Broking Ltd
Add Relaxo Footwears Ltd For Target Rs.972 - Centrum Broking Ltd
Source: Centrum Broking Ltd
25/07/2023 4:03:06 PM
India`s Relaxo Footwears reports surge in Q1 profit on higher demand Indian footwear maker and seller Relaxo Footwears reported a nearly 46% rise in first-quarter profit on higher demand for its shoes and slippers. The company's consolidated net profit rose to 563.2 million rupees ($6.9 million) in the quarter ended June 30 from 386.7 million rupees a year earlier. Revenue from operations for the Sparx sports shoes maker rose nearly 11% to 7.39 billion rupees, while its expenses rose 8.5%. The growth in topline came after past price hikes, underta...
India`s Relaxo Footwears reports surge in Q1 profit on higher demand
India`s Relaxo Footwears reports surge in Q1 profit on higher demand
Source: Reuters
24/07/2023 4:00:52 PM
Hold Relaxo Footwears Ltd For Target Rs.930 - ICICI Direct Inventory re-stocking enables volume recovery…   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 year...
Hold Relaxo Footwears Ltd For Target Rs.930 - ICICI Direct
Hold Relaxo Footwears Ltd For Target Rs.930 - ICICI Direct
Source: ICICI Direct
31/05/2023 3:02:45 PM
Neutral Relaxo Footwears Ltd For Target Rs. 810 - Motilal Oswal Financial Services * RLXF’s price cuts in the last few quarters have translated into healthy market share recovery from the unorganized players, driving healthy 24% volume growth. Subsequently, revenue/EBITDA increased 10%/6% YoY (in line). The 200bp YoY decline in gross margins was due to the price reduction. * The cleanup of old high-priced inventory and the steady costs of raw materials could potentially lead to growth and improved margins in the future. We have largely maintained estimates building...
Neutral Relaxo Footwears Ltd For Target Rs. 810 - Motilal Oswal Financial Services
Neutral Relaxo Footwears Ltd For Target Rs. 810 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
13/05/2023 10:09:45 AM
India's Relaxo Footwears posts Q4 revenue jump on strong customer demand Indian footgear seller Relaxo Footwears Ltd. posted a 9.6% jump in fourth-quarter revenue on Wednesday, as demand for its shoes and slippers remained strong despite high raw material costs. The maker of Sparx sports shoes and Flite slippers said that revenue from operations rose to 7.65 billion Indian rupees ($93.54 million) for the quarter ended March 31, 2023 from 6.98 billion rupees a year earlier. Growth in the topline comes after past price hikes, undertaken by the company to battl...
India's Relaxo Footwears posts Q4 revenue jump on strong customer demand
India's Relaxo Footwears posts Q4 revenue jump on strong customer demand
Source: Reuters
10/05/2023 4:42:39 PM
Add Relaxo Footwears Ltd For Target Rs. 853 - Centrum Broking Ltd Inflation, GST rate hikes continue to hurt the demand  Relaxo Footwears’ sales declined by 8% YoY however grew 2% on a QoQ basis. Volumes improved modestly over the last quarter after Relaxo decided to roll back the previous price hikes. The volume impact, as we had highlighted in our past notes, has been on account of severe  inflationary  pressure  and  GST  rate  hikes.    Relaxo’s  val...
Add Relaxo Footwears Ltd For Target Rs. 853 - Centrum Broking Ltd
Add Relaxo Footwears Ltd For Target Rs. 853 - Centrum Broking Ltd
Source: Centrum Broking Ltd
7/02/2023 10:55:49 AM
Buy Relaxo Footwears Ltd For Target Rs.1,057 -Centrum Broking Ltd Margin pressure sustains Relaxo Footwears sales grew 34% YoY and 3% over 1QFY20 (pre-pandemic quarter) to Rs6.7bn (our est. Rs6.2bn). Sales, though marginally over our estimates, as we had highlighted in our last channel check note published on 6th July’22 that impact of inflation will be felt most for the companies catering to value for money segment including the likes of Relaxo. Gross margins largely remained flat to 54.1% QoQ and YoY. The gross margin profile is in-line to what R...
Buy Relaxo Footwears Ltd For Target Rs.1,057 -Centrum Broking Ltd
Buy Relaxo Footwears Ltd For Target Rs.1,057 -Centrum Broking Ltd
Source: Centrum Broking Ltd
26/08/2022 11:35:55 AM
Relaxo Footwears Q1 net profit up 24.90% at Rs 38.67 cr The company reported standalone net profit of Rs 38.67 crore for the quarter ended June 30, 2022 as compared to Rs 30.96 crore in the same period last year, registering a year-on-year growth of 24.90 per cent. Net revenue of the company rose substantially by 34.20 per cent at Rs 667.15 crore in April-June quarter of this fiscal as against Rs 497.13 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 34.82 per cent to Rs 581.03 crore from ...
Relaxo Footwears Q1 net profit up 24.90% at Rs 38.67 cr
Relaxo Footwears Q1 net profit up 24.90% at Rs 38.67 cr
Source: Dion Global Solutions Ltd
27/07/2022 10:26:39 AM
Relaxo Footwears' shares decline over 5% on weak Q4 earnings Shares of Relaxo Footwears declined over 5 per cent after the company reported weak operational performance in Q4FY22. Earnings before interest, taxes, depreciation, and amortization (EBITDA) margins of the company declined 596 basis points to 15.9 per cent from 21.8 per cent. It was due to a steep increase in input costs. Besides, the company's profit after tax fell 38 per cent year-on-year to Rs 63 crore from Rs 102 crore, reportedly on account of higher operational expenses and w...
Relaxo Footwears' shares decline over 5% on weak Q4 earnings
Relaxo Footwears' shares decline over 5% on weak Q4 earnings
Source: IANS
12/05/2022 4:04:34 PM
Relaxo Footwears Q4 net profit down 38.41% at Rs 62.93 cr The company reported standalone net profit of Rs 62.93 crore for the quarter ended March 31, 2022 as compared to Rs 102.17 crore in the same period last year, registering a year-on-year decline of 38.41 per cent. Net revenue of the company declined moderately by 6.62 per cent at Rs 698.19 crore in January-March quarter of this fiscal as against Rs 747.68 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 0.38 per cent to Rs 587.06 crore ...
Relaxo Footwears Q4 net profit down 38.41% at Rs 62.93 cr
Relaxo Footwears Q4 net profit down 38.41% at Rs 62.93 cr
Source: Dion Global Solutions Ltd
11/05/2022 4:47:11 PM
High Potential: Brokerages bullish on TCS, Escorts, Relaxo, HUL stocks for 2022 For 2022, brokerage houses are bullish on a variety of stocks including TCS, Escorts, Relaxo, HUL for 2022. Accordingly, Motilal Oswal Financial Services has given a buy call for large-cap stocks such as TCS, ICICI Bank, Bharti Airtel, L&T, Godrej Consumer Products, Divi's Labs, Titan, Tata Motors and Reliance Industries. In the mid-cap space, Angel One, Macrotech Developers, Ramco Cement, Zensar Tech and Devyani International are some of the top picks from MOFSL. Further, HD...
High Potential: Brokerages bullish on TCS, Escorts, Relaxo, HUL stocks for 2022
High Potential: Brokerages bullish on TCS, Escorts, Relaxo, HUL stocks for 2022
Source: IANS
1/01/2022 12:25:17 PM
Buy Relaxo Footwears Ltd For Target Rs.1330 - ICICI Direct Long term story remains intact… About the stock: Relaxo is India’s leading footwear manufacturing company, boasting of largest capacity of 7.5 lakh pairs per day. Relaxo is a dominant player in the open footwear space (~80% of sales), with its strong portfolio of brands (‘Flite’, ‘Bahamas’, ‘Sparx’, ‘Relaxo). * Market leader in value priced segment selling ~19 crore pairs annually * Relaxo has, over the years, maintained balance ...
Buy Relaxo Footwears Ltd For Target Rs.1330 - ICICI Direct
Buy Relaxo Footwears Ltd For Target Rs.1330 - ICICI Direct
Source: ICICI Direct
1/09/2021 11:08:09 AM
Buy Relaxo Footwears Ltd For Target Rs. 1,200 - ICICI Direct Well placed to benefit from large growth opportunity Relaxo Footwears’ Q4FY21 print signifies the inherent strength of the business model to capture market share and ability to generate robust free cashflows. Revenue for the quarter increased 38% YoY to | 747.7 crore (up 17% QoQ, two-year CAGR: 8%). Demand for low ticket size products like slippers/open sandals (~80% of product portfolio) has been more intense in recent times. Gross margins contracted 300 bps YoY to 56.8% due to rise...
Buy Relaxo Footwears Ltd For Target Rs. 1,200 - ICICI Direct
Buy Relaxo Footwears Ltd For Target Rs. 1,200 - ICICI Direct
Source: ICICI Direct
17/06/2021 10:11:14 AM
Relaxo Footwears Ltd - 4QFY21 Result Update by Mr. Amarjeet Maurya, Angel Broking Below are Views On Relaxo Footwears Ltd - 4QFY21 Result Update by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd During the 4QFY21, Relaxo Footwears Ltd (RFL) Ltd reported revenue of ~Rs748cr (up ~38% YoY) on back of healthy volume growth and increase in realisation. On the EBITDA front, the company has reported an EBITDA margin at 21.8%, which is up by 399bps yoy due to lower operating costs.  On the bottom-line front, PAT grew by ~102...
Relaxo Footwears Ltd - 4QFY21 Result Update by Mr. Amarjeet Maurya, Angel Broking
Relaxo Footwears Ltd - 4QFY21 Result Update by Mr. Amarjeet Maurya, Angel Broking
Source: Angel Broking Ltd
21/05/2021 9:39:20 AM
Buy Relaxo Footwears Ltd For Target Rs. 950 - ICICI Direct Healthy execution revs up operational performance Relaxo Footwears continues to successfully march towards normalcy with strong execution and healthy margins. Revenue for Q3FY21 grew 12% YoY to | 672.0 crore (up 17% QoQ). It witnessed robust demand for low ticket sized products like slippers/open sandals (~80% of product portfolio). Strong distribution network encompassing mainly tier II/III cities supported in sharp revenue recovery. Relaxo continued to benefit from benign raw material...
Buy Relaxo Footwears Ltd For Target Rs. 950 - ICICI Direct
Buy Relaxo Footwears Ltd For Target Rs. 950 - ICICI Direct
Source: ICICI Direct
18/02/2021 10:24:22 AM
Buy Relaxo Footwears Ltd For Target Rs. 925 - HDFC Securities TECHNICAL OBSERVATIONS * Stock price has broken out on the daily chart with higher volumes. * Oscillators like MFI & RSI is showing strength in the current uptrend of the stock * Short term trend of the stock has turned positive where stock price closed above its 5 and 20 day SMA. * Primary trend of stock is positive where stock is trading above its 200 day SMA Buy Relaxo Footwears Ltd @ Up to 10 Days CMP 859.4 TGT 925 SL 837   To Rea...
Buy Relaxo Footwears Ltd For Target Rs. 925 - HDFC Securities
Buy Relaxo Footwears Ltd For Target Rs. 925 - HDFC Securities
Source: HDFC Securities Ltd
5/02/2021 1:48:07 PM