Broker’s Call: Relaxo Footwears (Hold)

Brokerage Sharekhan last month gave a ‘Buy’ rating to Relaxo Footwears with a target price of Rs 930. Likewise, B&K Securities is bullish on Crompton Greaves Consumer Electricals with a target price of Rs 363.

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Sharekhan is bullish on Relaxo Footwear has recommended buy rating on the stock with a target price of Rs 930 in its research report dated February 10, 2023.

Buy Relaxo Footwear; target of Rs 930: Sharekhan

“There are zero competitive advantages in Indian auto. We have got Eicher Motors, Royal Enfield specifically. We think Siddharth Lal and team over the last 15 years have built a business which has pricing power, strong competitive advantages, translating into high ROCEs. But the rest of the Indian a…

Saurabh Mukherjea on why he exited Relaxo and steers clear of most auto cos

A Nielsen report says nonfood consumption is declining. Volumes are lower compared to pre covid levels. Apparel companies also had a muted December quarter. Footwear maker Relaxo's revenue also slipped almost 10 percent. Why is the discretionary demand not picking up? Is it the constant rate hikes since May last year? Is Indian economy - the bright spot - slowing down amid global headwinds? On this edition of India Tonight, ET NOW's Vikram Oza caught up with Mitali Nikore, Founder & Economist of Nikore Associates; Madhavi Arora , Lead Economist at Emkay Global; and Shirish Pardeshi, Senior FMCG Analyst at Centrum Broking to discuss the slowdown in India's FMCG market. Tune in to this episode for more.
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Inflation Tests Consumers' Budgets; Economic Slowdown Visible? | India Tonight | ET Now

ICICI Direct recommended hold rating on Relaxo Footwears with a target price of Rs 745 in its research report dated February 06, 2023.

Hold Relaxo Footwears; target of Rs 745: ICICI Direct

Relaxo Footwears’ net profit fell 57 percent year-on-year to Rs 30 crore in Q3 FY23, and net profit margin stood at 4.4 percent as compared to 9.4 percent in the year-ago period

Saurabh Mukherjea’s exit not end of woes for Relaxo Footwears. Stock hits 52-week low on poor Q3

Relaxo Footwears slipped 3.39% to Rs 777.55 after the company reported 57% drop in net profit to Rs 30 crore in Q3 FY23 from Rs 70 crore in Q3 FY22.

Relaxo Footwear drops after weak Q3 performance

Relaxo Footwears standalone net profit declines 57.06% in the December 2022 quarter

Relaxo Footwear Standalone December 2022 Net Sales at Rs 681.03 crore, down 8.4% Y-o-Y

With new inventory in the system, Relaxo would get better playing field versus competition.

Relaxo Footwear Q3 Results Review - Revival Expected Going Ahead: Dolat Capital

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Relaxo Footwears Limited is engaged in the manufacturing and trading of footwear and related products.