Relaxo Footwears Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Footwear: 99.2% • Other Operating Revenue: 0.4% • Accessories, Raw Material etc.: 0.3%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company is almost debt free
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.80x)
- Company has been maintaining a healthy dividend payout of 48.6%
- Stock looks reasonably valued - P/E of 43.6 is below its historical median
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- Company has a low return on equity of 9.0% over last 3 years
- Company has delivered a poor profit growth of -9.3% over past five years
- Company has delivered a poor sales growth of 2.8% over past five years
- Expensive relative to growth - PEG of 8.6
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BATAINDIA | 648.50 | 57.02 | 8335.01 | 1.39 | 63.98 | 23.05 | 978.95 | 3.94 | 20.77 | 20.84 |
| RELAXO | 324.90 | 43.65 | 8088.01 | 1.08 | 54.94 | 12.35 | 705.05 | 7.73 | 12.34 | 15.35 |
| CAMPUS | 214.40 | 60.38 | 6553.77 | 0.70 | 28.66 | — | 337.71 | — | 26.65 | 18.27 |
| MIRZAINT | 30.83 | 0.00 | 426.08 | 0.00 | -4.07 | -122.85 | 128.40 | -9.65 | 1.29 | 2.37 |
| LIBERTSHOE | 229.05 | 61.08 | 390.30 | 0.00 | 0.68 | -79.46 | 169.86 | -1.70 | 11.81 | 7.95 |
| SUPERHOUSE | 173.75 | 24.55 | 191.56 | 0.46 | 3.56 | 213.28 | 162.87 | 4.07 | 4.30 | 6.58 |
| KSR | 42.19 | 0.00 | 77.54 | 0.00 | 0.32 | 106.56 | 52.25 | 0.36 | -13.35 | 5.86 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 739 | 715 | 713 | 747 | 748 | 679 | 667 | 695 | 654 | 629 | 668 | 751 | 705 | |
| 631 | 624 | 626 | 627 | 649 | 592 | 584 | 583 | 555 | 547 | 599 | 627 | 643 | |
| Operating Profit | 108 | 92 | 87 | 120 | 99 | 88 | 83 | 112 | 99 | 81 | 69 | 124 | 62 |
| OPM % | 14.56% | 12.79% | 12.23% | 16.11% | 13.22% | 12.90% | 12.50% | 16.12% | 15.20% | 12.91% | 10.39% | 16.51% | 8.81% |
| 7 | 11 | 6 | 5 | 5 | 7 | 7 | 8 | 11 | 12 | 11 | 12 | 13 | |
| Interest | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 |
| Depreciation | 35 | 37 | 38 | 38 | 39 | 40 | 40 | 39 | 40 | 39 | 39 | 39 | 40 |
| Profit before Tax | 76 | 60 | 51 | 82 | 60 | 50 | 45 | 75 | 66 | 49 | 36 | 91 | 75 |
| Tax % | 25.67% | 26.81% | 24.12% | 25.40% | 26.45% | 25.90% | 26.00% | 25.40% | 25.81% | 25.98% | 26.11% | 25.46% | 26.82% |
| Net Profit | 56 | 44 | 39 | 61 | 44 | 37 | 33 | 56 | 49 | 36 | 27 | 68 | 55 |
| 2.26 | 1.78 | 1.55 | 2.46 | 1.78 | 1.48 | 1.32 | 2.26 | 1.96 | 1.46 | 1.06 | 2.72 | 2.21 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,631 | 1,941 | 2,292 | 2,410 | 2,359 | 2,653 | 2,783 | 2,914 | 2,790 | 2,702 | 2,753 | |
| 1,400 | 1,639 | 1,966 | 1,999 | 1,862 | 2,236 | 2,445 | 2,505 | 2,405 | 2,326 | 2,416 | |
| Operating Profit | 231 | 302 | 326 | 411 | 497 | 418 | 338 | 409 | 385 | 377 | 337 |
| OPM % | 14.16% | 15.56% | 14.24% | 17.07% | 21.07% | 15.74% | 12.15% | 14.03% | 13.80% | 13.94% | 12.23% |
| 14 | 4 | 13 | 9 | 23 | 24 | 19 | 29 | 27 | 46 | 48 | |
| Interest | 15 | 9 | 9 | 19 | 19 | 17 | 22 | 21 | 24 | 24 | 22 |
| Depreciation | 51 | 54 | 62 | 109 | 110 | 114 | 125 | 147 | 158 | 157 | 158 |
| Profit before Tax | 178 | 244 | 268 | 292 | 391 | 311 | 210 | 269 | 230 | 241 | 251 |
| Tax % | 32.62% | 33.88% | 34.53% | 22.44% | 25.46% | 25.09% | 26.45% | 25.55% | 25.90% | 25.76% | 26.06% |
| Net Profit | 120 | 161 | 175 | 226 | 292 | 233 | 154 | 200 | 170 | 179 | 185 |
| EPS | 9.98 | 13.38 | 7.06 | 9.10 | 11.72 | 9.35 | 6.21 | 8.05 | 6.84 | 7.20 | — |
| Dividend Payout % | 10.01% | 11.20% | 12.72% | 13.71% | 21.30% | 26.74% | 40.28% | 37.25% | 43.84% | 48.59% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 3%
- 3 Years:
- -1%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 4%
- 5 Years:
- -9%
- 3 Years:
- 5%
STOCK PRICE CAGR
- 10 Years:
- 4%
- 5 Years:
- -23%
- 3 Years:
- -29%
- 1 Year:
- -34%
RETURN ON EQUITY
- 10 Years:
- 15%
- 5 Years:
- 10%
- 3 Years:
- 9%
- Last Year:
- 8%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
| 591 | 744 | 1,085 | 1,239 | 1,540 | 1,733 | 1,830 | 1,970 | 2,073 | 2,181 | |
| 179 | 154 | 112 | 139 | 115 | 143 | 128 | 169 | 169 | 188 | |
| Trade Payables | 126 | 175 | 172 | 184 | 223 | 222 | 253 | 255 | 197 | 263 |
| 163 | 164 | 230 | 254 | 273 | 260 | 259 | 295 | 299 | 292 | |
| Total Liabilities | 1,070 | 1,250 | 1,611 | 1,841 | 2,176 | 2,383 | 2,495 | 2,714 | 2,762 | 2,949 |
| 541 | 525 | 848 | 981 | 938 | 987 | 1,150 | 1,371 | 1,344 | 1,365 | |
| Capital Work in Progress | 62 | 136 | 10 | 44 | 112 | 145 | 88 | 33 | 53 | 97 |
| 1 | 1 | 0 | 0 | 338 | 194 | 225 | 108 | 343 | 436 | |
| 290 | 314 | 382 | 448 | 422 | 673 | 564 | 599 | 558 | 557 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 358 | 312 | 299 | |
| Cash & Bank | 4 | 4 | 2 | 4 | 8 | 13 | 74 | 98 | 42 | 24 |
| 173 | 270 | 368 | 364 | 358 | 370 | 394 | 148 | 110 | 172 | |
| Total Assets | 1,070 | 1,250 | 1,611 | 1,841 | 2,176 | 2,383 | 2,495 | 2,714 | 2,762 | 2,949 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 239 | 234 | 210 | 402 | 602 | 140 | 456 | 235 | 406 | 348 | |
| Cash from Investing | -89 | -108 | -57 | -116 | -453 | 15 | -258 | -99 | -262 | -207 |
| Cash from Financing | -89 | -46 | -68 | -203 | -56 | -70 | -138 | -106 | -162 | -146 |
| 1 | -0 | -2 | 1 | 4 | 1 | 3 | 30 | -18 | -5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Relaxo Footwears Limited has informed the Exchange regarding Communication to Shareholders - Intimation on Tax Deduction at Source (TDS) on Dividend.
2026-09-01 - Relaxo Footwears Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-31 - Relaxo Footwears Limited has informed the Exchange regarding Intimation under Regulation 36(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
2026-08-31 - Relaxo Footwears Limited has informed the Exchange regarding Business Responsibility and Sustainability Report for the Financial Year ended 2025-26.
2026-08-31 - Relaxo Footwears Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026
2026-08-22 - Relaxo Footwears Limited has informed the Exchange about copy of Newspaper Publication regarding 42nd Annual General Meeting of the Company to be held on Thursday, September 24, 2026 at 10:30 A.M. (IST) through Video Conferencing ("VC") / Other Audio Visual Means ("OAVM").
2026-08-14 - Relaxo Footwears Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Relaxo Footwears Limited has informed the Exchange regarding Nomination and Remuneration Committee of the Company at its meeting held today i.e. Thursday, August 13, 2026, approved the grant of 5,03,500.
2026-08-13 - Relaxo Footwears Limited has informed the Exchange about Investor Presentation
News
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