Consumer Durables · NSE/BSE: RELAXO
Relaxo Footwears Limited
Footwear
Market Cap ₹0.09L Cr
Verdict: Average
Quality Scores
Multi-Bagger
74/100
Compounder Quality
86/100
Management Credibility
85/100
Governance
94/100
Cash Flow Quality
95/100
AI Summary
Relaxo Footwears Limited is India's largest footwear manufacturer, dominating the value-for-money segment with iconic brands like Sparx, Flite, and Bahamas. The company operates a massive distribution network and has maintained a clean balance sheet for over a decade. While historically a multi-bagger compounder, recent years have shown significant pressure on margins due to volatile raw material costs (EVA) and stagnant volume growth. The promoter holding remains high and stable at over 71%, indicating strong skin in the game. Current market dynamics suggest a transition period where the…
Top Opportunities
- Market leader in mass footwear segment
- Strong brand recall (Sparx, Flite, Relaxo)
- Vast distribution network across India
Top Risks
- Heavy reliance on commodity prices (EVA, Rubber)
- Intense competition from unorganized sector
- Slow revenue growth over the last 3 years
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