Relaxo Footwears (RELAXO) Q1 24/25 earnings summary

Executive summary

• Achieved revenue of ₹748.2 Cr in Q1FY25, up 1.3% year-over-year, with 5.0 Cr pairs sold and average realization per pair at ₹150.

• Unaudited financial results for the quarter ended June 30, 2024, were reviewed and approved by the Board on July 31, 2024.

• Statutory auditors conducted a limited review and issued an unmodified report.

• Annual FY24 revenue reached ₹2,914 Cr, up 4.7% year-over-year, with 17.1 Cr pairs sold.

• Brand mix for FY24: Flite 38%, Sparx 37%, Relaxo/Bahamas 25%.

Financial highlights

• Q1FY25 EBITDA at ₹98.9 Cr, down 8% year-over-year; PAT at ₹44.4 Cr, down 21% year-over-year.

• Revenue from operations for Q1 FY25 was ₹748.19 crore, up from ₹738.82 crore in Q1 FY24 and ₹747.21 crore in Q4 FY24.

• Profit for the period was ₹44.37 crore, compared to ₹56.32 crore in Q1 FY24 and ₹61.39 crore in Q4 FY24.

• FY24 EBITDA at ₹336 Cr (12.1% margin), PAT at ₹154 Cr (5.6% margin).

• Net worth increased to ₹2,001 Cr in FY24; net debt reduced to ₹151 Cr.

Outlook and guidance

• Management highlights strong growth potential in the Indian footwear industry, driven by rising disposable income, premiumization, and organized retail expansion.