Relaxo Footwears - Healthy Execution Revs Up Operational Performance In Q3: ICICI Direct
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Relaxo Footwears Ltd. continues to successfully march towards normalcy with strong execution and healthy margins. Revenue for Q3 FY21 grew 12% YoY to Rs 672.0 crore (up 17% QoQ).
It witnessed robust demand for low ticket sized products like slippers/open sandals (approximately 80% of product portfolio).
Strong distribution network encompassing mainly tier II, III cities supported in sharp revenue recovery.
The company continued to benefit from benign raw material prices with gross margins improving 110 basis points YoY to 58.9% (down 250 basis points QoQ).
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.