The largest footwear manufacturer in India, Relaxo Footwears Ltd, specialises in non-leather items such as kinds of footwear. It also dominates the footwear market for “value.” Reputable brands in its portfolio include Relaxo, Sparx, Flite, and Bahamas. The business offers its goods to retailers through distributors, retail stores, exports, and online shopping/modern trade.
Financial Results:
From ₹ 70 Cr. in Q3FY22 to ₹ 30 Cr. in Q3FY23, the firm recorded a 57% decline in net profit.
During the quarter, operating revenue fell by 8% year on year basis to ₹ 681 Cr. It was affected by the weak demand for products in the mass sector and the higher volume/value base in the same quarter of FY22 owing to the change in the GST rate.
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