Relaxo Footwears Ltd - Stock Valuation and Financial Performance

BSE: 530517 | NSE: RELAXO | Footwear | Small Cap

Relaxo Footwears Share Price

831.10 0.80 0.10%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on Relaxo Footwears

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Relaxo Footwears stock performance -

mw4me loader
P/E Ratio (SA):
102.23
Market Cap:
20,689.3 Cr.
52-wk low:
762.5
52-wk high:
974

Is Relaxo Footwears Ltd an attractive stock to invest in?

1. Is Relaxo Footwears Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Relaxo Footwears Ltd is a good quality company.

2. Is Relaxo Footwears Ltd undervalued or overvalued?

The key valuation ratios of Relaxo Footwears Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Relaxo Footwears Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Relaxo Footwears Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Relaxo Footwears:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Relaxo Footwears Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 17.7%21.5%20%17.2%19.4%16.7%18.7%20.9%14.5%9.2%-
Value Creation
Index
0.30.50.40.30.40.20.40.90.3-0.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,2121,4811,7121,6311,9412,2922,4102,3592,6532,7832,932
Sales YoY Gr.-22.2%15.6%-4.7%19%18.1%5.2%-2.1%12.5%4.9%-
Adj EPS 2.74.34.94.96.66.98.911.59.36.18.1
YoY Gr.-58.7%13%1.7%33.8%4.7%28.8%29.5%-19.8%-33.8%-
BVPS (₹) 11.515.32025.131.444.350.96370.674.577.8
Adj Net
Profit
65.2103117119159172221287230152202
Cash Flow from Ops. 12510715918015412331951356400-
Debt/CF from Ops. 1.62.21.5110.90.100.40-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 9.7%7.5%4.9%4.9%
Adj EPS 9.5%-1.5%-11.8%-33.8%
BVPS23.1%18.8%13.5%5.5%
Share Price 27.7% 14.4% -2.7% 2.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
26.532.127.521.823.318.418.620.213.88.410.7
Op. Profit
Mgn %
12.213.614.114.715.614.417.121.215.812.213.8
Net Profit
Mgn %
5.476.87.38.27.59.212.28.75.56.9
Debt to
Equity
0.70.70.50.30.20.10000-
Working Cap
Days
747684999810611812311812273
Cash Conv.
Cycle
4547495550546154667243

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 10.70%

Sales growth has been subdued in last 3 years 4.90%

Net Profit has been subdued in last 3 years -11.77%

Sales growth is not so good in last 4 quarters at 7.94%

Latest Financials - Relaxo Footwears Ltd.

Standalone Consolidated
TTM EPS (₹) 8.1 -
TTM Sales (₹ Cr.) 2,932 -
BVPS (₹.) 77.8 -
Reserves (₹ Cr.) 1,911 -
P/BV 10.69 -
PE 102.23 -
From the Market
52 Week Low / High (₹) 762.50 / 974.00
All Time Low / High (₹) 0.57 / 1447.00
Market Cap (₹ Cr.) 20,689
Equity (₹ Cr.) 24.9
Face Value (₹) 1
Industry PE 92.1

Management X-Ray of Relaxo Footwears:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Relaxo Footwears

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,2121,4811,7121,6311,9412,2922,4102,3592,6532,783
Operating Expenses 1,0651,2801,4721,4001,6391,9661,9991,8622,2362,445
Manufacturing Costs210277294202231292338284366391
Material Costs4845576147268831,0721,0391,0031,2171,334
Employee Cost 115135161177214259294301335343
Other Costs 256311403296311342328273319376
Operating Profit 147201240231302326411497418338
Operating Profit Margin (%) 12.1%13.5%14.0%14.2%15.6%14.2%17.1%21.1%15.7%12.2%
Other Income 203144139232419
Interest 231823159919191722
Depreciation 314047515462109110114125
Exceptional Items 0040000000
Profit Before Tax 96143178178244268292391311210
Tax 304057588393651007856
Profit After Tax 66103120120161175226292233154
PAT Margin (%) 5.4%7.0%7.0%7.4%8.3%7.7%9.4%12.4%8.8%5.6%
Adjusted EPS (₹)2.74.35.05.06.77.19.111.79.46.2
Dividend Payout Ratio (%)5%6%6%10%11%13%14%21%27%40%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 2773684806037561,0971,2641,5651,7581,855
Share Capital 661212121225252525
Reserves 2713624685917441,0851,2391,5401,7331,830
Minority Interest0000000000
Debt16321120313212587190200
Long Term Debt114145113713900000
Short Term Debt486690618687190200
Trade Payables5993122126175172184223222253
Others Liabilities 159170192210193255374388383387
Total Liabilities 6578419971,0701,2501,6111,8412,1762,3832,495

Fixed Assets

Gross Block5266687715926301,0151,2541,2951,4271,692
Accumulated Depreciation16019624151105167273357439542
Net Fixed Assets3664725315415258489819389871,150
CWIP 2422862138114611814989
Investments 0011100338194225
Inventories164249286290314382448422673564
Trade Receivables6882109123173223172181251270
Cash Equivalents 642442481374
Others Assets2932414995144190170116122
Total Assets 6578419971,0701,2501,6111,8412,1762,3832,495

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 12510715918015412331951356400
PBT 96143178178244268292391311210
Adjustment 545966676474130118111135
Changes in Working Capital 3-57-30-6-73-132-2093-282110
Tax Paid -28-38-54-59-80-86-83-89-84-55
Cash Flow From Investing Activity -70-130-130-89-108-57-116-45315-258
Capex -71-130-134-90-109-91-116-122-139-184
Net Investments 00400330-332153-78
Others 1001120114
Cash Flow From Financing Activity -5121-31-89-46-68-203-56-70-138
Net Proceeds from Shares 00125335140
Net Proceeds from Borrowing -2741-3-63-47-42-24000
Interest Paid -23-16-22-20-15-8-17-17-15-19
Dividend Paid -2-3-6-7-12-18-530-62-62
Others 1-1-1-123-3-111-44-6-57
Net Cash Flow 4-1-210-21413
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)26.7431.9828.3722.1523.6918.9319.1620.61148.55
ROCE (%)25.8429.7830.2925.7229.6825.9924.828.6219.5612.75
Asset Turnover Ratio1.9721.891.61.681.61.41.171.231.22
PAT to CFO Conversion(x)1.891.041.331.50.960.71.411.760.242.6
Working Capital Days
Receivable Days16182026283230272832
Inventory Days48505664575563677176
Payable Days39506462625962746765

Relaxo Footwears Ltd Stock News

Relaxo Footwears Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Relaxo Footwears on 12-Apr-2024 16:59 is ₹831.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 16:59 the market cap of Relaxo Footwears stood at ₹20,689.3.
The latest P/E ratio of Relaxo Footwears as of 12-Apr-2024 16:59 is 102.2.
The latest P/B ratio of Relaxo Footwears as of 12-Apr-2024 16:59 is 10.69.
The 52-week high of Relaxo Footwears is ₹974.0 and the 52-week low is ₹762.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Relaxo Footwears is ₹2,932 ( Cr.) .

About Relaxo Footwears Ltd

Relaxo Footwears (Relaxo) is one of the leading and most popular footwear companies in India. A household name, literally. With its headquarter in New Delhi and few manufacturing units, Relaxo produces losts pairs of footwear, every day. Relaxo footwear’s range boasts a fine combination of comfort, style, and quality workmanship. A wide collection of fashionable, colourful, comfortable and durable footwear for men, women and children. For a changing India. For a trendsetting India. Relaxo is geared to meet the quality and choice expectations of a young India with its sub-brands such as Sparx, Bahamas, Flite, Schoolmate and Relaxo Hawaii.

Business area of the company

The company is largest footwear manufacturing company in India, which deals in non-leather products i.e. rubber / EVA / PU slippers, canvas/ sport / school shoes, sandals, etc. It has a portfolio of brands including major brands like Relaxo, Flite, Sparx and Bahamas. The company sells its products through retailers served through distributors, retail outlets, exports, e-commerce, modern trade etc. It has state of the art manufacturing facilities, Bahadurgarh (Haryana), Bhiwadi (Rajasthan) and in Haridwar (Uttarakhand). The company’s business process is managed through SAP & SAP HANA.

Brands

  • Bahamas
  • Flite
  • Sparx
  • Schoolmate

Awards

  • CNBC TV18 (Making it big CNBC TV 18 HSBC 2016).
  • Dun & Bradsheet 2016 Top 500 Company in Net Profit.
  • Dun & Bradsheet 2016 Top 500 Company in Total Income.
  • ET500 Future Ready Company.
  • ICRA Safety Rating.
  • India's Largest Corporation 2016.
  • India's Most Valuable Company Business Today 2016 Market Capitalisataion.
  • India's Most Valuable Company Business Today 2016 Net Profit.
  • The Next 500 Fortune India.
  • Best Corporate Brands by The Economic Times.
  • India Most Valuable CEOs by Business World.
  • India Best Corporate Brands 2016 at The Economics Times Best Corporate Brands Summit.
  • First place at Council For Leather Exports for excellent export performance during 2014-15.
  • India Fastest Growing Companies by Business World.
  • MD Ramesh Kumar Dua has been ranked among Top 100 CEOs by Business Today.
  • The Brand Trust Report 2016 ranks sparx among India’s most trusted brand.
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