Manufactures and sells footwear in India under brands including Relaxo and Flite, with in-house production at manufacturing facilities in Haryana. In FY26, the business sold 17.5 crore pairs at an average realisation of ₹153 per pair, generating revenue of ₹2,702 crore. Volume was slightly lower than FY25's 17.8 crore pairs at ₹156 per pair, leading to a 3.1% revenue decline, though profit after tax rose 5.3% to ₹179 crore on better cost management. Q4 FY26 saw an 8.1% year-on-year revenue recovery to ₹751 crore with an EBITDA margin of 16.5%. The biggest cost line is raw materials at 36.7% of revenue, followed by other operating expenses at 30.1% and employee costs at 15.2%. The company is expanding capacity through a new 30-acre land parcel in Bhiwadi, holds a net cash position (net debt of -₹206 crore), and is investing up to ₹2.50 crore for a ~26% stake in a CleanMax SPV to source captive solar power for its Haryana plants. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Footwear – Relaxo brand, Footwear – Flite brand. Asset-heavy, branded footwear manufacturing with vertical integration and net cash balance sheet.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,653 | 2,783 | 2,914 | 2,790 | 2,702 |
| EBITDA (ex other income) | 416 | 336 | 407 | 382 | 374 |
| margin % | 15.7 | 12.1 | 14.0 | 13.7 | 13.8 |
| Owners' profit | 233 | 154 | 200 | 170 | 179 |
| EPS, as reported (₹) | 9.36 | 6.21 | 8.05 | 6.84 | 7.20 |
| ROE % · ROCE % | 13.2 · 17.0 | 8.3 · 11.3 | 10.0 · 13.1 | 8.1 · 10.8 | 8.1 · 10.8 |
| Debt / equity (x) | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 |
| Cash from operations | 56 | 400 | 235 | 406 | 348 |
| Capex | (138) | (177) | (248) | (115) | (136) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 679 | 667 | 695 | 654 | 629 | 668 | 751 | 705 |
| Profit before tax | 50 | 45 | 75 | 66 | 49 | 36 | 91 | 75 |
| Net profit | 37 | 33 | 56 | 49 | 36 | 27 | 68 | 55 |
| EPS (₹) | 1.48 | 1.32 | 2.26 | 1.96 | 1.46 | 1.06 | 2.72 | 2.21 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| METRO BRANDS LIMITED | 25,672 | 63.1 | 12.67 | 26.4 | 20.5 | 16.3 | — | 33.4 |
| BATA INDIA LTD | 8,354 | 57.2 | 5.24 | 11.3 | 8.4 | 6.5 | 15.5 | 22.7 |
| RELAXO FOOT LTD. ◆ | 8,069 | 43.5 | 3.66 | — | 8.1 | 9.9 | — | 17.2 |
| CAMPUS ACTIVEWEAR LIMITED | 6,546 | 126.7 | 15.31 | 27.6 | 25.2 | 29.5 | — | 18.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · TDS on Dividend: Rs. 3.50/share, Record Date Sept 18, 2026 | compliance | minimal | — | — |
| 1 Sept 2026 · Relaxo Footwears: 42nd AGM newspaper notice published | compliance | minimal | — | — |
| 31 Aug 2026 · 42nd AGM notice and Annual Report FY2025-26 filed with BSE | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Relaxo Footwears dispatches AGM notice and FY26 annual report web link to shareholders | compliance | minimal | — | — |
| 31 Aug 2026 · Relaxo Footwears submits BRSR for FY 2025-26 | compliance | low | — | — |
| 31 Aug 2026 · Annual Report FY26: Revenue down 3%, PAT up 5%, dividend raised to 350% | results | medium | — | — |
| 31 Aug 2026 · Relaxo Footwears 42nd AGM on Sep 24, 2026; FY26 Annual Report filed | board shareholder meetings | low | — | — |
| 22 Aug 2026 · 42nd AGM notice on Sept 24, 2026 with 350% final dividend recommendation | compliance | minimal | — | — |
| 14 Aug 2026 · Relaxo Footwears publishes Q1 FY27 results in newspapers | compliance | minimal | — | — |
| 13 Aug 2026 · Relaxo Footwears grants 5.03 lakh stock options to employees under ESOP 2014 | management changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| REDTAPE LIMITED |
| 6,440 |
| 26.2 |
| 6.30 |
| 14.2 |
| 23.6 |
| 24.3 |
| — |
| 20.5 |
| SREELEATHERS LIMITED | 772 | 23.5 | 1.55 | — | 5.8 | 7.5 | — | 16.3 |
| LIBERTY SHOES LTD | 390 | 45.4 | 1.67 | — | 4.8 | 4.3 | — | 7.9 |
| LEHAR FOOTWEARS LIMITED | 359 | 17.2 | 2.71 | — | 15.7 | 19.3 | — | 8.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 43.5 | 51.3 | 4 of 10 | 67% |
| P/B | 3.7 | 3.7 | 5 of 9 | 50% |
| ROCE | 9.9 | 7.5 | 5 of 11 | 60% |
| ROE | 8.1 | 8.3 | 6 of 10 | 44% |
| Debt / Equity | 0.0 | 0.2 | 2 of 10 | 56% |
| EBITDA margin | 17.2 | 17.4 | 6 of 10 | 44% |
| Revenue growth | 7.7 | 3.6 | 3 of 9 | 75% |
| Profit growth | 12.3 | (3.6) | 4 of 9 | 63% |
| Market cap | 8069 | 3606 | 3 of 10 | 78% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
