Relaxo Footwears Ltd Share Price – NSE  /  BSE

Leather, Small Cap

Relaxo Footwears will hold a meeting of the Board of Directors of the Company on 31 July 2024.

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The decline in sales is due to slight decline in overall volumes, which was partly offset by improved average realisation.

EBITDA rose 2% to Rs 120 crore during the quarter as compared with Rs 118 crore posted in corresponding quarter last year.

EBITDA margin stood at 16.1% in fourth quarter of FY24 as against 15.4% in same quarter last year.

On full year basis, the company's net profit climbed 29.78% to Rs 200.47 crore on 4.72% rise in net sales to Rs 2,914.06 crore in FY24 over FY23.

Ramesh Kumar Dua, chairman and managing director, said, “We have achieved a moderate increase in revenue for FY24, with a notable improvement in profitability. This performance was largely driven by a significant uptick in open-footwear volumes, a testament to the efficacy of our strategic initiatives to regain market share. During the quarter, the company has implemented quality control orders as issued by the Bureau of Indian Standards (BIS) and now all our products are ISI marked.

We are also expanding our e- commerce operations by directly selling to consumers using ‘Brand as a Seller’ model on all major e-commerce platforms. These initiatives will help the company to improve our market connect and have a positive impact on growth.”

Meanwhile, the board has recommended a final dividend of Rs 3 per equity share for FY23-24.

Relaxo Footwears is engaged in production of Hawaii slippers, light weight slippers, canvas shoes, PVC footwear etc.

The scrip rose 0.98% to currently trade at Rs 851.70 on the BSE.

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Net profit of Relaxo Footwears declined 3.02% to Rs 61.39 crore in the quarter ended March 2024 as against Rs 63.30 crore during the previous quarter ended March 2023. Sales declined 2.32% to Rs 747.21 crore in the quarter ended March 2024 as against Rs 764.94 crore during the previous quarter ended March 2023.

For the full year,net profit rose 29.78% to Rs 200.47 crore in the year ended March 2024 as against Rs 154.47 crore during the previous year ended March 2023. Sales rose 4.72% to Rs 2914.06 crore in the year ended March 2024 as against Rs 2782.77 crore during the previous year ended March 2023.

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The Board of Relaxo Footwears at its meeting held on 09 May 2024 has approved the appointment of Richa Arora (DIN: 07144694) as Additional Director of the Company under Non-Executive and Independent Director category for a period of 5 (five) consecutive years starting from 09 May 2024.

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