Relaxo Footwears - Coming Out Of Woods: IDBI Capital

IDBI Capital Report

We met the management of Relaxo Footwear Ltd. to understand current business environment of the domestic footwear industry, management guidance on growth opportunities and challenges, and outlook on earnings growth recovery in near term.

The management guided that the demand is showing signs of improvement and raw material prices too have softened recently.

Relaxo has taken prudent step of price correction in two of its products which will aid in product off-take. With adequate capacity expansion in Sparx (high product), we expect share of high product in total sales will eventually increase.

Further, focus on increasing sales from e-commerce platform, branding and advertising as well as new product development will pave the way for sustainable earnings growth in future.

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