Relaxo Footwears Ltd

Relaxo Footwear Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Relaxo Footwears Ltd

₹ 923 2.46%
05 Jun 4:01 p.m.
relaxofootwear.com BSE: 530517 NSE : RELAXO
About

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]

Key Points

Diversified Product Portfolio
Company’s most popular brands – Relaxo, Sparx, Flite & Bahamas are a leader in their space.. In the youth segment, the company offers Bahamas & Flite products, which have attractive designs and are available in a wide range of colors. Sparx range contains trendy slippers, sandals & shoes in the premier range and includes sports footwear. Its products are designed by focusing on fashion & comfort, aesthetics, price and saleability and adopting standard manufacturing practices. [1]

Website BSE NSE
  • Market Cap ₹ 22,977 Cr.
  • Current Price ₹ 923
  • High / Low ₹ 1,107 / 748
  • Stock P/E 149
  • Book Value ₹ 74.5
  • Dividend Yield 0.28 %
  • ROCE 11.6 %
  • ROE 8.55 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.4%

Cons

  • Stock is trading at 12.4 times its book value
  • The company has delivered a poor sales growth of 7.47% over past five years.
  • Company has a low return on equity of 13.6% 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

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Quarterly Results

Figures in Rs. Crores

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
541 364 576 672 748 497 714 744 698 667 670 681 765
444 307 449 523 585 431 598 622 587 581 610 609 647
Operating Profit 96 57 127 149 163 66 117 122 111 86 59 72 118
OPM % 18% 16% 22% 22% 22% 13% 16% 16% 16% 13% 9% 11% 15%
4 7 5 4 7 5 7 5 6 4 6 4 4
Interest 4 4 4 4 5 4 4 4 4 7 4 4 4
Depreciation 28 28 28 28 27 27 28 29 29 30 31 32 33
Profit before tax 69 32 100 121 138 40 92 94 84 54 30 41 85
Tax % 25% 25% 25% 25% 26% 23% 25% 25% 25% 28% 26% 26% 26%
Net Profit 52 24 75 90 102 31 69 70 63 39 22 30 63
EPS in Rs 2.09 0.98 3.03 3.63 4.11 1.25 2.76 2.82 2.53 1.55 0.90 1.21 2.54
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Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
845 981 1,180 1,441 1,668 1,631 1,941 2,292 2,410 2,359 2,653 2,783
750 871 1,032 1,240 1,427 1,400 1,639 1,964 1,998 1,861 2,235 2,447
Operating Profit 95 110 148 201 241 231 302 328 413 498 418 336
OPM % 11% 11% 13% 14% 14% 14% 16% 14% 17% 21% 16% 12%
0 1 2 0 7 14 4 12 8 22 23 19
Interest 19 18 23 18 23 15 9 9 19 19 17 19
Depreciation 23 26 31 40 47 51 54 62 109 110 114 125
Profit before tax 53 68 96 143 178 178 244 268 292 391 311 210
Tax % 25% 34% 31% 28% 32% 33% 34% 35% 22% 25% 25% 26%
Net Profit 40 45 66 103 120 120 161 175 226 292 233 154
EPS in Rs 1.66 1.87 2.74 4.29 5.01 4.99 6.69 7.07 9.11 11.74 9.35 6.21
Dividend Payout % 5% 5% 5% 6% 6% 10% 11% 13% 14% 21% 27% 40%
Compounded Sales Growth
10 Years: 11%
5 Years: 7%
3 Years: 5%
TTM: 5%
Compounded Profit Growth
10 Years: 13%
5 Years: -1%
3 Years: -12%
TTM: -32%
Stock Price CAGR
10 Years: 39%
5 Years: 21%
3 Years: 6%
1 Year: -8%
Return on Equity
10 Years: 18%
5 Years: 15%
3 Years: 14%
Last Year: 9%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
6 6 6 6 12 12 12 12 25 25 25 25
Reserves 166 208 271 362 468 594 749 1,093 1,248 1,548 1,735 1,830
175 225 198 239 236 178 153 112 139 144 174 164
127 147 182 234 281 286 335 394 430 459 448 476
Total Liabilities 475 587 657 841 997 1,070 1,250 1,611 1,841 2,176 2,383 2,495
271 327 366 472 531 541 525 848 981 938 987 1,151
CWIP 21 24 24 2 28 62 138 11 46 118 149 88
Investments 0 0 0 0 0 1 1 0 0 338 194 225
182 236 267 367 438 466 587 752 814 782 1,052 1,030
Total Assets 475 587 657 841 997 1,070 1,250 1,611 1,841 2,176 2,383 2,495

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
73 54 125 107 159 180 154 123 319 513 56 400
-47 -82 -70 -130 -130 -89 -108 -56 -116 -453 15 -258
-27 29 -51 21 -31 -89 -46 -68 -203 -56 -70 -138
Net Cash Flow -1 1 4 -1 -2 1 -0 -1 1 4 1 3

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 10 13 21 21 24 28 33 35 26 28 34 35
Inventory Days 102 124 109 163 147 146 130 130 157 154 202 154
Days Payable 33 35 39 61 63 63 72 58 65 81 67 69
Cash Conversion Cycle 79 102 91 123 108 110 90 107 119 101 170 121
Working Capital Days 18 31 20 31 32 32 43 56 60 49 82 90
ROCE % 22% 22% 26% 30% 30% 26% 30% 26% 24% 26% 18% 12%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
70.98 70.98 70.92 70.92 70.92 70.92 70.78 70.78 70.78 70.78 71.02 71.25
3.28 3.39 3.67 3.88 3.49 3.56 3.81 3.22 3.15 3.11 2.99 2.82
6.66 6.96 7.04 7.00 7.34 7.17 7.08 6.94 7.07 7.43 7.64 7.96
19.09 18.68 18.37 18.20 18.25 18.35 18.33 19.06 19.00 18.68 18.34 17.98

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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