Relaxo Eyes West, South India To Unlock Future Growth Potential
Apart from that, Relaxo will also continue its strategy of introducing new products, Managing Director Ramesh Kumar Dua says.
Watch | MD Ramesh Kumar Dua on Relaxo's Q2 Results
Relaxo Footwears Ltd. will continue to fill its distribution gaps in the western and southern markets to fuel growth amid a consumption slowdown in India.
“These are the markets where we find more potential because of distribution gaps and opportunities,” Ramesh Kumar Dua, managing director of the footwear maker, told BloombergQuint in an interview.
Apart from that, the company will also continue its strategy of introducing new products, he said, adding it introduced 20 percent premium products in the quarter ended September, which were “quite successful”. Despite an economic slowdown, “if you are able to sell good products which really meet expectations of the consumers, you have good potential to grow,” he said.
Relaxo Q2 Results 2019-20: Key Highlights (YoY)
- Revenue up 14.5 percent to Rs 622 crore.
- Net profit up 129 percent at Rs 71 crore.
- Ebitda margin at 16.8 percent versus 13.5 percent.
- Volume growth at 8 percent.
On Friday, Relaxo shares fell 0.43 percent to Rs 546.85 apiece on the BSE while the benchmark Sensex gained 0.17 percent to end the day at 40,356.69 points.