Relaxo Footwears Limited · NSE:RELAXO
Relaxo Footwears — Q2 FY2024 Earnings Presentation
32 slides from Relaxo Footwears's earnings presentation, Nov 2, 2023
Slide 1: Stock exchange filing cover letter
November 2, 2023 BSE Ltd. National Stock Exchange of India Corporate Relationship Department Ltd 1st Floor New Trading Listing Department, Rotunda Building, P J Towers Exchange Plaza, Dalal Street Fort, Mumbai–400001 Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 Scrip Code – 530517 Scrip Code
Slide 2: Investor Presentation Q2 & H1 FY2024
INVESTOR PRESENTATION Q2 & H1 FY2024 November 2023 1
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Relaxo Footwears Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: Index
Index Page No. 1. Company Overview 04 2. Quarterly Performance at a Glance 11 3. Annual Financial Highlights 16 4. Industry Overview 23 5. Key Strengths 25 6. Annexures 27 Slide 3 of 31
Slide 5: Company Overview
Company Overview
Slide 6: Moving Forward, Gaining Momentum
Moving Forward, Gaining Momentum 8 Slide 5 of 31
Slide 7: Diversified Portfolio with Strong Identities
Diversified Portfolio with Strong Identities It’s In Me Slide 6 of 31
Slide 8: Efficient Customer Reach across Channels
Efficient Customer Reach across Channels Distribution Channels ~650 65,000+ Pan-India Distributors Retailers/ Multi-Brand Outlets 394 Exclusive Brand Outlets (EBOs) ~30 1 Countries Exported to Overseas office in Dubai Slide 7 of 31
Slide 9: Sustained Manufacturing Excellence, Certification & Innovation
Sustained Manufacturing Excellence, Certification & Innovation Strong in-house manufacturing capabilities Committed to provide Best in Class footwear • In-house manufacturing helps in maintaining the end to end quality 8 ~10.5 Lakh • Monitor every stage of the manufacturing process – Designing Manuf
Slide 10: Distinguished Board of Directors
Distinguished Board of Directors Executive Directors Independent Directors Ramesh Kumar Dua , Managing Director Pankaj Shrimali, Independent Director • 47 years of experience in strategy, sales and marketing, production and new • 39 years of experience in areas of finance, accounts, secretarial, str
Slide 11: And a Strong Management Team
And a Strong Management Team Ritesh Dua, Executive Vice President - Finance Nitin Dua, Executive Vice President - Retail MBA having over 23 years of experience in Finance, HR & IT MBA having over 19 years of experience in Retail Business Rahul Dua, Executive Vice President - Manufacturing Sushil Bat
Slide 12: Quarterly Performance at a Glance
Quarterly Performance at a Glance
Slide 13: Q2 & H1 FY24 Financial Highlights – Profit and Loss (1/2)
Q2 & H1 FY24 Financial Highlights – Profit and Loss (1/2) Revenue (₹ in Cr.) No. of Pairs sold (in Cr.) 1,454 9.9 1,337 7.7 4.8 3.9 670 715 Q2FY23 Q2FY24 H1FY23 H1FY24 Q2FY23 Q2FY24 H1FY23 H1FY24 Average Realization per pair (in ₹) EBITDA (₹ in Cr.) & Margin (%) 250 20. 0% 169 171 13.7% 18. 0% 200 1
Slide 14: Q2 & H1 FY24 Financial Highlights – Profit and Loss (2/2)
Q2 & H1 FY24 Financial Highlights – Profit and Loss (2/2) EBIT (₹ in Cr.) & Margin (%) PBT (₹ in Cr.) & Margin (%) 10.0% 160 15. 0% 160 15. 0% 140 13. 0% 140 9.4% 13. 0% 120 11. 0% 120 11. 0% 7.1% 6.3% 100 9.0 % 100 9.0 % 136 9.1% 145 8.4% 80 7.0 % 80 7.0 % 60 5.0 % 60 5.0 % 5.2% 95 40 4.5% 84 65 3.
Slide 15: Quarterly Trend – Profit and Loss (1/2)
Quarterly Trend – Profit and Loss (1/2) Revenue (₹ in Cr.) No. of Pairs sold (in Cr.) 765 5.2 739 5.1 4.8 715 3.9 4.1 670 681 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Average Realization per pair (in ₹) EBITDA (₹ in Cr.) & Margin (%) 15.4% 20. 0% 169 120 14.6% 18. 0% 163
Slide 16: Quarterly Trend – Profit and Loss (2/2)
Quarterly Trend – Profit and Loss (2/2) 120 EBIT (₹ in Cr.) & Margin (%) 15. 0% 120 PBT (₹ in Cr.) & Margin (%) 15. 0% 13. 0% 13. 0% 11.7% 11.2% 100 100 10.9% 11. 0% 10.3% 11. 0% 80 9.1% 80 8.4% 9.0 % 9.0 % 60 7.0 % 60 7.0 % 6.6% 6.0% 5.2% 90 80 5.0 % 4.5% 85 5.0 % 76 40 40 65 3.0 % 60 3.0 % 45 41 3
Slide 17: Annual Financial Highlights
Annual Financial Highlights
Slide 18: Annual Financial Highlights – Profit and Loss (1/2)
Annual Financial Highlights – Profit and Loss (1/2) Revenue (₹ in Cr.) No. of Pairs sold (in Cr.) 19.1 2,783 2,653 2,359 17.5 17.1 FY21 FY22 FY23 FY21 FY22 FY23 Average Realization per pair (in ₹) EBITDA (₹ in Cr.) & Margin (%) 21.0% 161 150 15.7% 122 12.1% 495 416 336 FY21 FY22 FY23 FY21 FY22 FY23
Slide 19: Annual Financial Highlights – Profit and Loss (2/2)
Annual Financial Highlights – Profit and Loss (2/2) EBIT (₹ in Cr.) & Margin (%) PBT (₹ in Cr.) & Margin (%) 17.3% 16.6% 12.3% 11.7% 8.2% 7.6% 408 391 326 311 229 210 FY21 FY22 FY23 FY21 FY22 FY23 PAT (₹ in Cr.) & Margin (%) Cash PAT (₹ in Cr.) & Margin (%) 12.4% 17.5% 8.8% 13.0% 10.2% 5.6% 292 413
Slide 20: Annual Financial Highlights – Balance Sheet
Annual Financial Highlights – Balance Sheet (₹ in Cr.) Net Worth Net Debt 1,855 1,898 1,760 1,572 -156 -183 -266 -344 FY21 FY22 FY23 H1 FY24 FY21 FY22 FY23 H1 FY24 Capex Cash Generated from Operations 174 146 602 456 101 56 172 140 FY21 FY22 FY23 H1 FY24 FY21 FY22 FY23 H1 FY24 Slide 19 of 31
Slide 21: Annual Financial Highlights – Key Financial Ratios
Annual Financial Highlights – Key Financial Ratios ROE (%) ROCE (%) 28.0% 20.5% 19.2% 14.0% 12.5% 8.6% FY21 FY22 FY23 FY21 FY22 FY23 Current Ratio (x) Fixed Asset Turnover Ratio (x) 2.9 2.8 2.6 2.5 2.7 2.4 FY21 FY22 FY23 FY21 FY22 FY23 Slide 20 of 31
Slide 22: Statement of Profit & Loss – Q2 & H1 FY2024
Statement of Profit & Loss – Q2 & H1 FY2024 Particulars (₹ in Cr.) Q2FY24 Q2FY23 Y-o-Y H1FY24 H1FY23 Y-o-Y FY23 Revenue from Operations 715.32 669.65 6.82% 1454.14 1336.80 8.78% 2782.77 Other Income 10.54 5.66 17.81 9.83 18.57 Total Income 725.86 675.31 7.49% 1471.95 1346.63 9.31% 2801.34 Cost of Ma
Slide 23: Balance Sheet
Balance Sheet EQUITY AND LIABILITIES (₹ in Cr.) H1FY24 FY23 ASSETS (₹ in Cr.) H1FY24 FY23 Equity Non-Current Assets Equity Share Capital 24.89 24.89 Property, Plant and Equipment 965.58 923.89 Other Equity 1,872.75 1,830.16 Capital Work-in-Progress 63.11 87.77 1,897.64 1,855.05 Intangible Assets 25.
Slide 24: Industry Overview
Industry Overview
Slide 25: Attractive dynamics of the Indian footwear industry
Attractive dynamics of the Indian footwear industry Strong growth potential of the Indian footwear industry Global Footwear Market Size# Indian Footwear Market Size* Improving share of Organised footwear Per Capita Consumption (Pairs)^ market – India (In US$ billion) (In Rs. billion) (Pairs) Organis
Slide 26: Key Strengths
Key Strengths
Slide 27: Key Strengths
Key Strengths Diversified Product Manufacturing Wide Distribution Product Innovation Portfolio Excellence Network Financial Resilience Distinguished Board Evolving Strong Corporate with Strong Credit and Management Macroeconomic Governance Profile ICRA AA (Long Term) Team Industry Growth drivers A1+
Slide 28: Annexures
Annexures
Slide 29: Awards and Accolades
Awards and Accolades Northern Region Export Excellence Award 2023 1st Place for Excellent Export Performance 2019-20 Slide 28 of 31
Slide 30: Being a Good Corporate Citizen
Being a Good Corporate Citizen Education Parivartan - Model School Project - Developing Govt schools in Haridwar into model schools by providing appropriate infrastructure facilities, developing soft skills, and capacity building for teachers in 104 schools, benefitting approx. 10,000 students Remed
Slide 31: Shareholding Pattern
Shareholding Pattern Shareholding as on 30th September, 2023 Total Shareholders – 316,135 3,15,983* Shareholder Information as on (17.00%) Promoter & Promoter Group 30th September, 2023 Mutual Funds BSE Ticker 530517 16* (8.49%) Foreign Portfolio Investors NSE Ticker RELAXO 12* (71.27%) Others Marke
Slide 32: Thank You
Thank You LY AELAKO