Relaxo Footwears
- P/E
- 38.83
Key Fundamentals
MicrocapConsumer DurablesConsumer DiscretionaryPrice-based figures as of · EPS basis: Standalone · TTM
- ROCE
- 11.20%
- Debt to Equity
- 0.11
- EPS (TTM)
- ₹7.45
- Book Value
- ₹88.63
- Market Cap
- —
- P/E (TTM)
- 38.83
- P/B
- 3.26
- ROE
- 8.33%
- Dividend Yield
- 1.23%
- EBITDA
- ₹420 Cr
- 52W High
- ₹454.70
- 52W Low
- ₹236.50
- Day Range
- ₹281.00 – ₹290.80
- Volume
- 84,991
Peer Comparison
Consumer Discretionary › Consumer Goods › Footwear
| ₹854.90 | 57.30 | ₹23,027 Cr | 11.14 | 0.72% | 22.10% | 20.10% | ₹2,956 Cr | ₹412 Cr | |
| ₹633.20 | 55.69 | ₹8,059 Cr | 5.10 | 3.85% | 10.60% | 12.70% | ₹3,553 Cr | ₹146 Cr | |
| Relaxo Footwears (this company) | ₹289.25 | 38.83 | ₹7,152 Cr | 3.26 | 1.23% | 8.33% | 11.20% | ₹2,753 Cr | ₹186 Cr |
| ₹199.78 | 39.64 | ₹6,007 Cr | 6.74 | 0.77% | 18.00% | 21.20% | ₹1,816 Cr | ₹154 Cr | |
| ₹105.98 | 23.82 | ₹5,927 Cr | 5.73 | 1.87% | 26.60% | 24.50% | ₹2,436 Cr | ₹247 Cr | |
| ₹262.00 | 18.49 | ₹614 Cr | 1.22 | 0.76% | 4.70% | 6.97% | ₹258 Cr | ₹33 Cr | |
| ₹191.73 | 38.19 | ₹323 Cr | 1.40 | 1.33% | 4.82% | 7.91% | ₹737 Cr | ₹9 Cr | |
| Median 7 companies | ₹262.00 | 38.83 | ₹6,007 Cr | 5.10 | 1.23% | 10.60% | 12.70% | ₹2,436 Cr | ₹154 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 58
- Good
- Returns, margins, earnings quality 22% weight
- Valuation
- 60
- Good
- Cheap vs sector & own history 24% weight
- Growth
- 18
- Poor
- Sales & profit trajectory 9% weight
- Financial Health
- 79
- Strong
- Solvency, leverage, coverage 9% weight
- Momentum
- 22
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 47
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 43.2%
Weaknesses
3- Stock is trading at 3.26 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.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Bearish | 8 | 5 | 6 |
| Oscillators | Neutral | 2 | 5 | 2 |
| Moving Averages | Strong Bearish | 6 | 0 | 4 |
Oscillators
Neutral
Overall
Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 47.85
- Neutral
- MACD (12,26,9)
- −6.84
- Bullish
- SMA (50)
- 308.03
- Bearish
- SMA (200)
- 336.89
- Bearish
As of
Analyst Rating
5 of 8 analysts rate Buy, 2 Hold, 1 Sell.
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +4.94% |
|---|---|
| 5Y | +2.75% |
| 3Y | −0.98% |
| 1Y | −3.15% |
| TTM | +2.15% |
Net profit
| 10Y | +4.08% |
|---|---|
| 5Y | −9.32% |
| 3Y | +5.14% |
| 1Y | +5.29% |
| TTM | +6.29% |
Operating cash flow
| 10Y | +8.15% |
|---|---|
| 5Y | −7.47% |
| 3Y | −4.54% |
| 1Y | −14.29% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −0.50 pp |
|---|---|
| 5Y | −7.16 pp |
| 3Y | +1.70 pp |
| 1Y | +0.15 pp |
| TTM | −0.29 pp |
Revenue by year
| Mar 2017 | ₹1,631 Cr |
|---|---|
| Mar 2018 | ₹1,941 Cr |
| Mar 2019 | ₹2,292 Cr |
| Mar 2020 | ₹2,410 Cr |
| Mar 2021 | ₹2,359 Cr |
| Mar 2022 | ₹2,653 Cr |
| Mar 2023 | ₹2,783 Cr |
| Mar 2024 | ₹2,914 Cr |
| Mar 2025 | ₹2,790 Cr |
| Mar 2026 | ₹2,702 Cr |
Net profit by year
| Mar 2017 | ₹120 Cr |
|---|---|
| Mar 2018 | ₹161 Cr |
| Mar 2019 | ₹175 Cr |
| Mar 2020 | ₹226 Cr |
| Mar 2021 | ₹292 Cr |
| Mar 2022 | ₹233 Cr |
| Mar 2023 | ₹154 Cr |
| Mar 2024 | ₹200 Cr |
| Mar 2025 | ₹170 Cr |
| Mar 2026 | ₹179 Cr |
Analyst Forecasts
AI Analysis — Bull vs Bear
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.
- 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
- 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
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.
- ₹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.
Quarterly Results
₹ Cr| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 (₹) | 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 |
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 2,326 | 2,370 |
| Operating Profit | 201 | 241 | 231 | 302 | 328 | 413 | 498 | 418 | 341 | 409 | 385 | 377 | 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 | 24 | 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 (₹) | 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% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | −206 |
| 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/EBITDA | 72 | 89 | 103 | 78 | 64 | 97 | 121 | 33 | 134 | 74 | 120 | 110 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 63 |
| ROCE % | 30% | 30% | 26% | 30% | 26% | 24% | 26% | 18% | 12% | 14% | 11% | 11% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Relaxo Footwears insights
63 extracted metrics across FY11–FY27.
Documents
- Q1 FY27 concall · Aug 2026PPT
- Q4 FY26 concall · Jun 2026Transcript PPT
- Q4 FY26 concall · May 2026PPT
- Q3 FY26 concall · Jan 2026PPT
- Q2 FY26 concall · Nov 2025Transcript PPT
- 30 Sep 2026
- 28 Nov 2025
- 18 Dec 2024
- 7 Dec 2023
- 1 Dec 2022
- General announcements 23 Oct 2026
- General announcements 5 Oct 2026
Frequently Asked Questions about Relaxo Footwears
What does Relaxo Footwears Ltd do?
Where is Relaxo Footwears Ltd (RELAXO) listed?
Which sector does Relaxo Footwears Ltd belong to?
What is the PE ratio of Relaxo Footwears Ltd?
What is the 52-week high and low of Relaxo Footwears Ltd?
Does Relaxo Footwears Ltd pay dividends?
What is the Return on Equity (ROE) of Relaxo Footwears Ltd?
Company Information
Incorporated in 1984, Relaxo Footwear Ltd. is the largest footwear manufacturer in India.
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