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Relaxo Footwears Limited
(RELAXO)
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Rating:69Neutral
Price Target:
₹358.00
▼(-11.34% Downside)
Action:Reiterated
Date:07/18/26
The score is primarily supported by financial stability (low leverage, growing equity) and improved recent free cash flow, plus strong technical uptrend signals. These positives are tempered by multi-year profitability/margin compression and a demanding valuation (high P/E with low yield), which increases reliance on a future earnings recovery.
Positive Factors
Conservative balance sheet
Very low leverage and steadily rising equity provide financial resilience and flexibility. This reduces balance-sheet risk, supports continued investment in brands and distribution, and gives Relaxo greater capacity to manage operating volatility over the next several quarters.
Negative Factors
Weak multi-year revenue and profit trend
Flat-to-declining revenue alongside a substantial fall in net profit shows that earnings have not maintained the earlier growth trajectory. Without a durable recovery in demand and operating performance, weaker earnings can constrain reinvestment and reduce the business’s ability to compound.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and steadily rising equity provide financial resilience and flexibility. This reduces balance-sheet risk, supports continued investment in brands and distribution, and gives Relaxo greater capacity to manage operating volatility over the next several quarters.
Read all positive factors
Relaxo Footwears Limited (RELAXO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹81.40B
Dividend Yield0.92%
Average Volume (3M)29.94K
Price to Earnings (P/E)43.6
Beta (1Y)1.28
Revenue Growth2.11%
EPS Growth5.98%
CountryIN
Employees7,708
SectorGeneral
Sector StrengthN/A
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)7.46
Shares Outstanding248,938,580
10 Day Avg. Volume20,395
30 Day Avg. Volume29,937
Financial Highlights & Ratios
PEG Ratio6.28
Price to Book (P/B)2.68
Price to Sales (P/S)2.19
P/FCF Ratio26.45
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)8.89
Revenue Forecast (FY)₹29.80B
Relaxo Footwears Limited Business Overview & Revenue Model
Company Description
Relaxo Footwears Limited is a prominent producer and distributor of footwear, catering to a diverse clientele of men, women, and children, with operations spanning both India and global markets. Their extensive product range encompasses various sh...
How the Company Makes Money
Relaxo primarily makes money by selling footwear products under its own brands in India. Revenue is largely generated from the sale of finished footwear (e.g., slippers/flip-flops, sandals, and shoes) to trade partners such as distributors, wholes...
Relaxo Footwears Limited Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
82
Very Positive
Cash Flow
71
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.53B | 27.02B | 27.90B | 29.14B | 27.83B | 26.53B |
| Gross Profit | 12.16B | 10.30B | 16.41B | 16.41B | 14.04B | 14.37B |
| EBITDA | 4.18B | 4.20B | 4.09B | 4.38B | 3.57B | 4.41B |
| Net Income | 1.85B | 1.79B | 1.70B | 2.00B | 1.54B | 2.33B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 29.49B | 27.62B | 27.14B | 24.95B | 23.83B |
| Cash, Cash Equivalents and Short-Term Investments | 2.13B | 2.13B | 3.11B | 1.69B | 2.66B | 1.77B |
| Total Debt | 0.00 | 2.33B | 2.13B | 2.05B | 1.64B | 1.74B |
| Total Liabilities | -22.06B | 7.43B | 6.64B | 7.13B | 6.40B | 6.22B |
| Stockholders Equity | 22.06B | 22.06B | 20.98B | 20.01B | 18.55B | 17.60B |
Cash Flow | ||||||
| Free Cash Flow | 1.58B | 2.24B | 2.91B | -132.40M | 2.15B | -835.20M |
| Operating Cash Flow | 2.36B | 3.60B | 4.06B | 2.35B | 4.00B | 559.90M |
| Investing Cash Flow | -1.50B | -2.21B | -2.62B | -986.30M | -2.58B | 145.50M |
| Financing Cash Flow | -1.07B | -1.44B | -1.62B | -1.06B | -1.38B | -697.80M |
Relaxo Footwears Limited Technical Analysis
Negative
403.80
Price Trends
387.12
Negative
357.67
Negative
357.44
Negative
Market Momentum
-17.09
Positive
24.13
Positive
6.15
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RELAXO, the sentiment is Negative. The current price of 403.8 is above the 20-day moving average (MA) of 360.03, above the 50-day MA of 387.12, and above the 200-day MA of 357.44, indicating a bearish trend. The MACD of -17.09 indicates Positive momentum. The RSI at 24.13 is Positive, neither overbought nor oversold. The STOCH value of 6.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RELAXO.
Relaxo Footwears Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹81.40B | 43.56 | ― | 0.92% | 2.11% | 5.98% | |
60 Neutral | ₹259.88B | 63.02 | ― | 0.64% | 15.48% | 13.60% | |
58 Neutral | ₹65.34B | 42.53 | ― | 0.70% | 13.71% | 30.46% | |
57 Neutral | ₹84.02B | 57.05 | ― | 5.24% | 1.91% | -29.92% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹3.91B | 45.37 | ― | 1.12% | 6.46% | -30.10% | |
47 Neutral | ₹14.48B | 55.83 | ― | 0.58% | 34.34% | -10.31% |
* General Sector Average
IN:RELAXO
Relaxo Footwears Limited
324.90
-165.25
-33.71%
IN:BATAINDIA
Bata India Ltd
648.50
-553.47
-46.05%
IN:BIL
Bhartiya International Limited
1,072.50
218.90
25.64%
IN:CAMPUS
Campus Activewear Ltd.
214.40
-53.41
-19.94%
IN:LIBERTSHOE
Liberty Shoes Limited
229.05
-113.90
-33.21%
IN:METROBRAND
Metro Brands Ltd.
939.90
-339.03
-26.51%
Relaxo Footwears Limited Corporate Events
Relaxo Announces 350% Dividend and Details TDS Rules for Shareholders
Sep 7, 2026
Relaxo Footwears Limited has informed shareholders that its Board recommended a dividend of Rs 3.50 per equity share, equivalent to 350 percent on shares with a face value of Rs 1, for the financial year ended March 31, 2026. The payout, which rem...
Relaxo Footwears Sets Virtual AGM and Proposes Rs 3.50 Dividend Per Share
Aug 22, 2026
Relaxo Footwears Limited has scheduled its 42nd Annual General Meeting for September 24, 2026 at 10:30 a.m. IST, to be conducted via video conferencing and other audio-visual means in line with MCA and SEBI circulars. The AGM venue will be deemed ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.