Relaxo Footwears Limited · NSE:RELAXO
Relaxo Footwears — Q1 FY2025 Earnings Presentation
33 slides from Relaxo Footwears's earnings presentation, Jul 31, 2024
Slide 1: Cover letter to BSE and NSE
July 31, 2024 BSE Ltd. National Stock Exchange of India Ltd Corporate Relationship Department Listing Department, Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai - 400 051 Scrip Code – 530517 Scrip Code – RELAXO Sub: In
Slide 2: Investor Presentation Q1FY25
INVESTOR PRESENTATION Q1FY25 July 2024
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 70,000+ Pan-India Distributors Retailers/ Multi-Brand Outlets 399 Exclusive Brand Outlets (EBOs) ~34 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 9 ~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 , Chairman & Managing Director Kuldip Singh Dhingra, Independent Director • 48 years of experience in strategy, sales and marketing, production and new • 51 years of experience in paint and related industries
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 24 years of experience in Finance, HR & IT MBA having over 20 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: Quarterly Financial Highlights – Profit and Loss (1/2)
Quarterly Financial Highlights – Profit and Loss (1/2) Revenue (₹ in Cr.) No. of Pairs sold (in Cr.) 2,914 2,783 19.5 17.1 5.1 5.0 739 748 Q1FY24 Q1FY25 FY23 FY24 Q1FY24 Q1FY25 FY23 FY24 Average Realization per pair (in ₹) 500 EBITDA (₹ in Cr.) & Margin (%) 20. 0% 450 14.0% 18. 0% 400 16. 0% 12.1% 1
Slide 14: Quarterly Financial Highlights – Profit and Loss (2/2)
Quarterly Financial Highlights – Profit and Loss (2/2) 350 EBIT (₹ in Cr.) & Margin (%) 15. 0% PBT (₹ in Cr.) & Margin (%) 9.9% 9.2% 300 15. 0% 13. 0% 300 13. 0% 8.2% 250 7.5% 11. 0% 250 11. 0% 9.0 % 200 9.0 % 200 7.0 % 150 269 7.0 % 288 150 5.0 % 229 10.3% 210 5.0 % 10.9% 8.7% 100 8.1% 100 3.0 % 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.) 747 748 5.1 739 715 713 5.0 5.0 4.8 4.7 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Average Realization per pair (in ₹) EBITDA (₹ in Cr.) & Margin (%) 140 20. 0% 16.1% 18. 0% 14.6% 120 13.
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% 11.6% 100 100 10.9% 11.0% 10.3% 11. 0% 11. 0% 9.1% 8.7% 80 80 9.0 % 8.4% 9.0 % 60 7.8% 7.0 % 60 7.1% 8.1% 7.0 % 80 87 82 5.0 % 5.0 % 76 40 40 65 56 65 3.0 % 60 60 3.0
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.) 19.5 2,914 2,783 17.5 17.1 2,653 FY22 FY23 FY24 FY22 FY23 FY24 Average Realization per pair (in ₹) EBITDA (₹ in Cr.) & Margin (%) 161 150 148 15.7% 14.0% 12.1% 416 407 336 FY22 FY23 FY24 FY22 FY23 FY24
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 (%) 12.3% 9.9% 11.7% 9.2% 8.2% 7.5% 326 288 311 269 229 210 FY22 FY23 FY24 FY22 FY23 FY24 PAT (₹ in Cr.) & Margin (%) Cash PAT (₹ in Cr.) & Margin (%) 12.9% 12.0% 8.8% 6.9% 10.1% 5.6% 233 343 350
Slide 20: Annual Financial Highlights – FY24 Revenue Mix
Annual Financial Highlights – FY24 Revenue Mix Brand-Wise Revenue Mix Brand-Wise Volume Mix Relaxo/Bahamas Flite Sparx Relaxo/Bahamas Flite Sparx 14% 25% 38% 48% 38% 37% Channel-Wise Revenue Mix Region-Wise Revenue Mix * General Trade Modern Trade Retail Export North East West South 11% 5% 9% 19% 76
Slide 21: Annual Financial Highlights – Balance Sheet
Annual Financial Highlights – Balance Sheet (₹ in Cr.) Net Worth Net Debt 2,001 1,855 1,760 (156) (151) (266) FY22 FY23 FY24 FY22 FY23 FY24 Capex Cash Generated from Operations 232 456 174 146 302 140 FY22 FY23 FY24 FY22 FY23 FY24 Slide 20 of 31
Slide 22: Annual Financial Highlights – Key Financial Ratios
Annual Financial Highlights – Key Financial Ratios ROE (%) ROCE (%) 14.0% 19.2% 10.4% 8.6% 14.7% 12.5% FY22 FY23 FY24 FY22 FY23 FY24 Current Ratio (x) Fixed Asset Turnover Ratio (x) 2.9 2.8 2.6 2.5 2.4 2.5 FY22 FY23 FY24 FY22 FY23 FY24 Slide 21 of 31
Slide 23: Statement of Profit & Loss – Q1FY25
Statement of Profit & Loss – Q1FY25 Particulars (₹ in Cr.) Q1FY25 Q1FY24 Y-o-Y FY24 FY23 Y-o-Y Revenue from Operations 748.19 738.82 1.27% 2,914.06 2,782.77 4.72% Other Income 5.43 7.27 28.86 18.57 Total Income 753.62 746.09 1.01% 2,942.92 2,801.34 5.05% Cost of Materials Consumed, including Packing
Slide 24: Balance Sheet
Balance Sheet EQUITY AND LIABILITIES (₹ in Cr.) FY24 FY23 ASSETS (₹ in Cr.) FY24 FY23 Equity Non-Current Assets Equity Share Capital 24.89 24.89 Property, Plant and Equipment 1,006.30 923.89 Other Equity 1,976.22 1,830.16 Capital Work-in-Progress 32.52 87.77 2,001.11 1,855.05 Intangible Assets 21.95
Slide 25: Industry Overview
Industry Overview
Slide 26: 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 27: Key Strengths
Key Strengths
Slide 28: 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 29: Annexures
Annexures
Slide 30: Awards and Accolades
Awards and Accolades 2nd Place for Excellent Northern Region Export Status of Three Star Manufacturing & Export Excellence Award Export House Performance 2022-2023 2023 2023 1st Place for Excellent Export Performance 2019-20 Slide 29 of 31
Slide 31: 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 32: Shareholding Pattern
Shareholding Pattern Shareholding as on 30th June, 2024 Total Shareholders – 2,52,981 2,52,840* Shareholder Information as on (15.85%) Promoter & Promoter Group 30th June 2024 Mutual Funds BSE Ticker 530517 9* (9.52%) Foreign Portfolio Investors NSE Ticker RELAXO 12* (71.27%) Others Market Cap (₹ in
Slide 33: Thank You
Thank You LY AELAKO