Relaxo Footwears Ltd logo

Relaxo Footwears Ltd

RELAXO NSE

Key Fundamentals

MicrocapFootwearConsumer Goods
Market Cap
₹9,446 Cr
Volatility
Moderate
P/E Ratio
51.54
EBITDA
₹374 Cr
Return on Equity
8.12%
Debt to Equity
0.11
Book Value
₹88.63
EPS
₹7.57
52W High
₹526
52W Low
₹236.5

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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46 extracted metrics + investor summaries across FY13–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 43.2%

Weaknesses

3
  • Stock is trading at 4.41 times its book value
  • The company has delivered a poor sales growth of 2.75% over past five years.
  • Company has a low return on equity of 8.97% over last 3 years.

Growth Rate

Revenue Growth
-4.06% ↗
Net Income Growth
3.23% ↗
Cash Flow Change
72.68% ↗
ROE
-18.96% ↘
ROCE
-17.38% ↘
EBITDA Margin (Avg.)
-6.27% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d ago
AI opinion · based on fundamentals
Risk high

Relaxo Footwears Ltd trades at a market cap of ₹10,066 Cr with a PE of 56.7x and ROE of approximately 8-9%, reflecting premium valuation against a backdrop of muted growth. Sales have compounded at just 3% over five years while the stock has declined 19% over the same period, though the company maintains a 43.2% dividend payout ratio.

Bull Case 7
  • Healthy dividend payout ratio of 43.2% indicates shareholder-friendly capital allocation and management confidence in cash flows
  • 10-year sales CAGR of 5% and 10-year profit CAGR of 4% demonstrate long-term business resilience through multiple cycles
  • 10-year ROE average of 13% suggests the business has historically generated reasonable returns on equity over a full cycle
  • TTM profit growth of 5% shows nascent margin recovery after a difficult period of -9% five-year profit CAGR
  • Dividend yield of 0.74% provides some income cushion relative to many consumer goods peers trading at similar multiples with lower yields
  • Stock decline of 24% over 3 years and 19% over 5 years means valuation has partially corrected from prior peaks, reducing some froth
  • Debt-to-equity is not flagged as a concern in known risks, suggesting the balance sheet remains relatively unleveraged for a footwear manufacturer
Bear Case 8
  • PE of 56.7x is extremely elevated for a company delivering only 5% TTM profit growth and negative 3% TTM sales growth
  • Price-to-book of 4.61x is high given last-year ROE of just 8%, implying the market pays a steep premium for subpar return generation
  • Five-year sales CAGR of only 2.75-3% indicates structural revenue growth challenges in a competitive mass-market footwear segment
  • ROE has deteriorated from a 10-year average of 13% to just 8% in the last year, signaling declining capital efficiency
  • Five-year profit CAGR of -9% reflects sustained earnings compression despite the company being in a supposedly defensive consumer sector
  • Stock has delivered negative returns across 1-year (-10%), 3-year (-24%), and 5-year (-19%) horizons, with only 5% CAGR over 10 years
  • TTM sales growth of -3% indicates the top-line is actively contracting, not merely growing slowly
  • Three-year ROE of 9% and declining trajectory suggests the premium valuation multiple is increasingly difficult to justify on fundamentals

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 15d ago
Neutral 1
  • ₹25.67 Cr NSE block trade Jul 17

    A block trade of ~5.84 lakh shares executed at ₹439.95/share on NSE, totalling ₹25.67 crore. Likely an institutional rebalancing with no directional signal.

TL;DR: Limited recent news flow for Relaxo Footwears. The only development is a modest ₹25.67 crore block trade on Jul 17, which reflects institutional activity rather than any fundamental change. With no material headwinds or positive catalysts in the news cycle, the near-term outlook hinges on upcoming quarterly results and demand recovery trends in the consumer footwear segment.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
739
715
713
747
748
679
667
695
654
629
668
751
705
Expenses
631
624
626
627
649
592
584
583
555
547
599
627
597
Operating Profit
108
92
87
120
99
88
83
112
99
81
69
124
108
OPM %
15%
13%
12%
16%
13%
13%
12%
16%
15%
13%
10%
17%
15%
Other Income
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
PBT
76
60
51
82
60
50
45
75
66
49
36
91
75
Tax %
26%
27%
24%
25%
26%
26%
26%
25%
26%
26%
26%
25%
27%
Net Profit
56
44
39
61
44
37
33
56
49
36
27
68
55
EPS in Rs
2.26
1.78
1.55
2.47
1.78
1.48
1.33
2.26
1.96
1.45
1.07
2.72
2.21
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,441
1,668
1,631
1,941
2,292
2,410
2,359
2,653
2,783
2,914
2,790
2,702
2,753
Expenses
1,240
1,427
1,400
1,639
1,964
1,998
1,861
2,235
2,442
2,505
2,405
2,328
2,370
Operating Profit
201
241
231
302
328
413
498
418
341
409
385
374
383
OPM %
14%
14%
14%
16%
14%
17%
21%
16%
12%
14%
14%
14%
14%
Other Income
0
7
14
4
12
8
22
23
16
29
27
46
48
Interest
18
23
15
9
9
19
19
17
22
21
24
22
22
Depreciation
40
47
51
54
62
109
110
114
125
147
158
157
158
PBT
143
178
178
244
268
292
391
311
210
269
230
241
251
Tax %
28%
32%
33%
34%
35%
22%
25%
25%
26%
26%
26%
26%
—
Net Profit
103
120
120
161
175
226
292
233
154
200
170
179
185
EPS in Rs
4.29
5.01
4.99
6.69
7.07
9.11
11.74
9.35
6.21
8.05
6.84
7.2
7.45
Div. Payout %
6%
6%
10%
11%
13%
14%
21%
27%
40%
37%
44%
49%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
6
12
12
12
12
25
25
25
25
25
25
25
Reserves
362
468
594
749
1,093
1,248
1,548
1,735
1,830
1,976
2,073
2,181
Borrowings
239
236
178
153
112
139
144
174
164
205
213
233
Other Liabilities
234
281
286
335
394
430
459
448
476
508
452
510
Total Liabilities
841
997
1,070
1,250
1,611
1,841
2,176
2,383
2,495
2,714
2,762
2,949
Fixed Assets
472
531
541
525
848
981
938
987
1,150
1,371
1,344
1,365
CWIP
2
28
62
138
11
46
118
149
89
33
54
97
Investments
0
0
1
1
0
0
338
194
225
108
343
436
Other Assets
367
438
466
587
752
814
782
1,052
1,030
1,202
1,021
1,051
Total Assets
841
997
1,070
1,250
1,611
1,841
2,176
2,383
2,495
2,714
2,762
2,949
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
107
159
180
154
123
319
513
56
400
235
406
348
Investing
-130
-130
-89
-108
-56
-116
-453
15
-258
-99
-262
-207
Financing
21
-31
-89
-46
-68
-203
-56
-70
-138
-106
-162
-146
Net Cash Flow
-1
-2
1
0
-1
1
4
1
3
30
-18
-5
Free Cash Flow
-23
25
90
46
32
203
391
-82
216
-11
291
213
CFO/OP
72
89
103
78
64
97
121
33
134
74
120
111
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
21
24
28
33
35
26
28
34
35
45
41
40
Inventory Days
163
147
146
130
130
157
154
202
154
179
177
184
Days Payable
61
63
63
72
58
65
81
67
69
76
63
87
Cash Conversion Cycle
123
108
110
90
107
119
101
170
121
148
155
138
Working Capital Days
14
12
19
27
42
57
44
75
59
68
62
89
ROCE %
30%
30%
26%
30%
26%
24%
26%
18%
12%
14%
11%
11%

Shareholding Pattern

As of Jun 2026
Promoters 71.27%
DIIs 9.67%
Others 9.56%
Public 6.39%
FIIs 3.11%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
70.92%
70.92%
70.92%
70.78%
70.78%
70.78%
70.78%
71.02%
71.25%
71.27%
71.27%
71.27%
71.27%
71.27%
71.27%
71.27%
71.27%
71.27%
71.27%
71.27%
71.27%
71.27%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.40%
3.32%
3.36%
3.41%
3.27%
3.07%
2.86%
3.03%
3.01%
3.04%
3.11%
DIIs
7.00%
7.34%
7.17%
7.08%
6.94%
7.06%
7.00%
7.64%
7.96%
8.30%
8.49%
8.86%
9.33%
9.55%
9.99%
10.54%
10.55%
9.95%
9.88%
9.87%
9.74%
9.67%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
6.48%
6.59%
6.64%
6.77%
7.42%
7.58%
7.43%
7.25%
7.02%
6.81%
6.34%
5.95%
5.58%
5.37%
5.14%
5.35%
5.56%
6.33%
6.25%
6.27%
6.37%
6.39%
Others
15.60%
15.15%
15.27%
15.37%
14.86%
14.58%
14.78%
14.08%
13.77%
13.63%
13.90%
10.52%
10.51%
10.45%
10.19%
9.57%
9.55%
9.60%
9.57%
9.58%
9.58%
9.56%
No. of Shareholders
0
1,22,448
1,55,252
2,23,393
2,60,562
3,10,079
3,28,969
3,45,741
3,58,700
3,43,295
3,16,135
2,91,401
2,69,388
2,52,981
2,39,245
2,37,195
2,36,677
2,39,560
2,39,270
2,32,872
2,25,931
2,23,844

Documents

1
Concall - May 2017 May 2017
2
Concall - Aug 2017 Aug 2017
3
Concall - Nov 2017 Nov 2017
4
Concall - Feb 2018 Feb 2018
5
Concall - May 2018 May 2018

Frequently Asked Questions about Relaxo Footwears Ltd

What does Relaxo Footwears Ltd do?
Incorporated in 1984, Relaxo Footwear Ltd. is the largest footwear manufacturer in India.[1]
Where is Relaxo Footwears Ltd (RELAXO) listed?
Relaxo Footwears Ltd is listed on the Indian stock exchanges. It is listed on NSE: RELAXO and BSE: 530517. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Relaxo Footwears Ltd belong to?
Relaxo Footwears Ltd operates in the Consumer Goods sector within the Footwear industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Relaxo Footwears Ltd?
Relaxo Footwears Ltd has a market capitalisation of approximately ₹9445.97 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Relaxo Footwears Ltd?
The Price-to-Earnings (PE) ratio of Relaxo Footwears Ltd is 51.54. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Relaxo Footwears Ltd?
Over the past 52 weeks, Relaxo Footwears Ltd has traded between a low of ₹236.5 and a high of ₹526. This range helps investors understand the stock's price volatility and recent trading levels.
Does Relaxo Footwears Ltd pay dividends?
Yes, Relaxo Footwears Ltd has a dividend yield of 0.89%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Relaxo Footwears Ltd?
Relaxo Footwears Ltd has a Return on Equity (ROE) of 8.12%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Relaxo Footwears Ltd on Tapetide?
On Tapetide, you can view Relaxo Footwears Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in 1984, Relaxo Footwear Ltd. is the largest footwear manufacturer in India.[1]

Website relaxofootwear.com
CEO Mr. Ramesh Kumar Dua
Employees 7,355
Listed 2011-06-17
Face Value ₹ 1
Issued Size 24,89,38,586

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