Relaxo Footwears Limited · NSE:RELAXO
Relaxo Footwears — Q2 FY2022 Earnings Presentation
29 slides from Relaxo Footwears's earnings presentation, Nov 9, 2021
Slide 1: Relaxo Footwears Limited filing cover letter
November 9, 2021 BSE Ltd. National Stock Exchange of India Ltd. Gorporate Relationship Listing Department, Department Exchange Plaza, 1st Floor New Trading Bandra Kurla Complex, Rotunda Building, P J Towers Bandra (East), Mumbai- 400 051 Dalal Street Fort, Mumbai-400001 Scrip Code - 530517 Scrip Cod
Slide 2: Investors Presentation
PRELAXO | INVESTORS >| « PRESENTATION | <P sepTEMBER 2021 COMMITTED TO PROVIDE November, 2021 BEST-IN-CLASS FOOTWEAR
Slide 3: Index
Index Page No. 1. Performance at glance 4 2. Industry Overview 11 3. Company Overview 13 4. Financial Highlights 23 2 / 28
Slide 4: 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 5: Performance at a Glance
Performance at a Glance Classification: Internal
Slide 6: Financial Highlights – Profit and Loss
Financial Highlights – Profit and Loss (`in Cr.) Revenue EBITDA EBIT 17.3% 17.0% 21.0% 12.0% 12.8% 14.1% Annual 2410 495 408 409 309 2359 324 275 2292 FY19 FY20 FY21 FY19 FY20 FY21 FY19 FY20 FY21 22.0% 22.1% 21.8% 18.1% 18.6% 19.1% Quarterly 13.3% 16.4% 8.8% 13.4% 163 149 143 748 714 127 125 672 117
Slide 7: Financial Highlights – Profit and Loss
Financial Highlights – Profit and Loss (`in Cr.) PBT PAT Cash PAT 16.6% 12.4% 17.5% 11.7% 12.1% 7.6% 9.4% 14.1% 10.7% Annual 292 413 391 226 341 268 292 175 245 FY19 FY20 FY21 FY19 FY20 FY21 FY19 FY20 FY21 17.4% 18.0% 18.4% 13.0% 13.4% 13.7% 18.4% 17.7% 17.9% 12.9% 9.6% 11.9% 13.6% 8.1% 6.2% Quarter
Slide 8: Operating Highlights
Operating Highlights Number of Pairs Sold (in Cr.) Average Realization per pair (in `) Credit Rating 19.1 133 Annual 18.4 17.9 123 122 Rating agency : ICRA FY19 FY20 FY21 FY19 FY20 FY21 Long term : AA Outlook : Positive 5.7 5.0 4.7 4.6 154 Short term : A1+ Quarterly 4.2 134 129 121 117 Q2FY21 Q3FY21
Slide 9: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet (`in Cr.) Net Debt CAPEX Net Worth 85 259 1611 1572 17 1272 1105 FY19 FY20 FY21 H1FY22 95 101 66 -202 202 -344 344 FY19 FY20 FY21 H1FY22 FY19 FY20 FY21 H1FY22 Capital Employed Cash generated from operations Net Debt/EBITDA (x) 0.26 1595 1632 602 1226 1316 402 210
Slide 10: Financial Highlights – Key Financial Ratios
Financial Highlights – Key Financial Ratios Current Ratio (x) Debtor Turnover Ratio (x) Interest Coverage (x) 12.5 2.4 39.8 1.9 11.2 1.6 23.9 10.6 18.3 FY19 FY20 FY21 FY19 FY20 FY21 FY19 FY20 FY21 ROE (%) ROCE (%) Dividend ( `in Cr.) 250% 20.5% 25.6% 90% 125% 19.0% 23.4% 62 18.8% 22.4% 22 31 FY19 FY
Slide 11: Financial Highlights – Key Financial Ratios
Financial Highlights – Key Financial Ratios Market Cap (`in Cr.) EV/EBITDA (x) PE Ratio (x) 75 21773 66 44 54 14869 36 30 9561 FY19 FY20 FY21 FY19 FY20 FY21 FY19 FY20 FY21 Enterprise Value (`in Cr.) EPS (in `) Fixed Asset Turnover Ratio (x) 21773 11.7 3.0 9.1 14885 7.1 2.8 9646 2.7 FY19 FY20 FY21 FY
Slide 12: Industry Overview
Industry Overview Classification: Internal
Slide 13: 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* Per Capita Consumption (Pairs)^ Top 5 Global Footwear Consumers # (In US$ billion) (In Rs. billion) (Pairs) (in million pairs) 6.5 Chi
Slide 14: Company Overview
Company Overview Classification: Internal
Slide 15: Moving Forward, Gaining Momentum.
Moving Forward, Gaining Momentum. 8 14 / 28
Slide 16: Diversified portfolio with strong identities
Diversified portfolio with strong identities It’s In Me 15 / 28
Slide 17: Key Strengths
Key Strengths Corporate Governance Distribution Customer Network First Brand Equity Adaptability Product Manufacturing Innovation Excellence 16 / 28
Slide 18: Efficient customer reach across channels
Efficient customer reach across channels www.relaxofootwear.com 50,000+ ~650 Retailers/MBOs Distributors 400 ~30 EBOs Countries Exported to 1 Overseas office in Dubai Online Avaliability 17 / 28
Slide 19: Sustained manufacturing excellence, certification & innovation
Sustained manufacturing excellence, certification & innovation Strong in-house manufacturing capabilities Certifications • 8 manufacturing facilities with a capacity to produce ~7.5 Lac pair/day. • ISO 9001:2015 • Continuous focus on optimising operations • ISO 14001:2015 – Dedicated line for manufa
Slide 20: Awards and Accolades
Awards and Accolades dun &bradstreet Amongst India's Top 500 Companies 2021 India’s Most Valuable Company-2019 Rank 220 India's Largest Corporations 2019 Rank 471 FROST & ET500- SULLIVAN India's Top 500 India Manufacturing Company-2019 Excellence Awards Rank 478 India's Top Mid Size 2013 Company-201
Slide 21: Board of Directors
Board of Directors Ramesh Kumar Dua, Managing Director Mukand Lal Dua, Whole Time Director Over 45 years of experience in strategic, sales and marketing, production and new Over 48 years of experience in manufacturing excellence in footwear product development in footwear industry industry. Co
Slide 22: And a strong management team
And a strong management team Mr. Gaurav Dua, Mr. Ritesh Dua, Mr. Nitin Dua, Mr. Ashish Srivastava , Executive VP - Executive VP - Finance Executive VP - Retail VP – Human Resources Marketing MBA having over 20 years MBA having over 21 years MBA having over 17 years MBA having over 23 years of experi
Slide 23: Shareholding pattern as of 30th September, 2021
Shareholding pattern as of 30th September, 2021 18.4% Promoter & Promoter Group Shareholder Information 3.6% Mutual Funds BSE Ticker 530517 7.1% Foreign Portfolio Investors NSE Ticker RELAXO Others Market Cap (`in Cr) 28,348 70.9% % Free- float 29.1% Shares Outstanding (in Cr) 24.84 3M ADTV (Shares)
Slide 24: Financial Highlights
Financial Highlights Classification: Internal
Slide 25: Statement of Profit & Loss
Statement of Profit & Loss Particulars (INR Cr.) Q2FY22 Q1FY22 Q2FY21 H1FY22 H1FY21 FY21 Revenue from Operations 714.43 497.13 575.87 1211.56 939.45 2359.15 Other Income 7.07 5.27 5.04 12.34 11.92 22.77 Total Income 721.50 502.40 580.91 1223.90 951.37 2381.92 Cost of Materials Consumed including pac
Slide 26: Balance Sheet
Balance Sheet EQUITY & LIABILITIES (INR Cr.) H1FY22 FY21 ASSETS (INR Cr.) H1FY22 FY21 Equity Non-Current Assets Equity Share Capital 24.84 24.84 Property, Plant and Equipment 727.61 721.05 Other Equity 1,586.15 1,547.57 Capital Work-in-Progress 139.75 112.23 1,610.99 1,572.41 Intangible Assets 29.61
Slide 27: Cash Flow
Cash Flow Particulars (INR Cr) H1FY22 H1FY21 FY21 Particulars (NR Cr) H1FY22 H1FY21 FY21 Cash flow from Operating Activities Changes in Working Capital Profit Before Tax 132.19 132.67 391.16 Adjustments for (Increase) / Decrease Adjustments for in Operating Assets Depreciation and Amortisation Expen
Slide 28: Cash Flow cont…
Cash Flow cont… Particulars (INR Cr.) H1FY22 H1FY21 FY21 Particulars (INR Cr.) H1FY22 H1FY21 FY21 Cash Flow from Investing Activities Cash Flow from Financing Activities Payment for Purchase of PPE including Proceeds from Issuance of Equity Shares - - 0.02 Capital Work-in-Progress and Intangible (68
Slide 29: Thank You
Thank You Le RELAXO