Relaxo Footwears - Healthy Execution Revs Up Operational Performance In Q3: ICICI Direct 
Footwear is displayed for sale at a store during a media tour of the Jewel Changi Airport in Singapore. (Photographer: Wei Leng Tay/Bloomberg)

Relaxo Footwears - Healthy Execution Revs Up Operational Performance In Q3: ICICI Direct 

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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:

ICICI Direct Relaxo Company Update.pdf

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