Relaxo Footwears Limited · NSE:RELAXO
Relaxo Footwears — Q2 FY2023 Earnings Presentation
30 slides from Relaxo Footwears's earnings presentation, Nov 2, 2022
Slide 1: Cover letter to stock exchanges
November 2, 2022 BSE Ltd. National Stock Exchange of India Ltd. Corporate 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: Investor Presentation Q2 & H1 FY2023
INVESTOR PRESENTATION Q2 & H1 FY2023 November 2022 Classification: Internal 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. Performance at glance 4 2. Industry Overview 11 3. Company Overview 13 4. Financial Highlights 22 5. Annexures 26 l Slide 3 of 29
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 21.0% 17.3% 17.0% 15.7% 12.8% 12.3% Annual 495 2,653 409 416 408 309 326 2,410 2,359 FY20 FY21 FY22 FY20 FY21 FY22 FY20 FY21 FY22 16.4% 16.4% 15.9% 12.9% 13.4% 13.2% 12.7% 8.9% 9.1% Quarterly 744 5.2% 117 122 714 111 96 98 88 698
Slide 7: Financial Highlights – Profit and Loss
Financial Highlights – Profit and Loss (₹ in Cr.) PBT PAT Cash PAT 16.6% 12.4% 17.5% 12.1% 11.7% 9.4% 8.8% 14.1% 13.0% Annual 292 413 391 226 233 341 346 292 311 FY20 FY21 FY22 FY20 FY21 FY22 FY20 FY21 FY22 12.9% 12.6% 12.1% 9.6% 9.4% 9.0% 13.6% 13.7% 12.6% 8.0% 5.8% 10.4% 3.3% 8.1% Quarterly 92 94
Slide 8: Operating Highlights
Operating Highlights Number of Pairs Sold (in Cr.) Average Realization per pair (in ₹) Credit Rating Annual 19.1 150 133 122 17.9 17.5 Rating agency : ICRA FY20 FY21 FY22 FY20 FY21 FY22 Long term : AA Outlook : Positive Short term : A1+ 4.6 172 Quarterly 4.5 4.2 169 3.8 3.9 164 164 154 Q2FY22 Q3FY22
Slide 9: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet (₹ in Cr.) Net Debt CAPEX Net Worth 17 1760 1763 146 1572 1272 FY20 FY21 FY22 H1FY23 95 101 -124 60 -156 -344 FY20 FY21 FY22 H1FY23 FY20 FY21 FY22 H1FY23 Capital Employed Cash generated from operations Net Debt/EBITDA (x) 1800 1807 0.04 1595 602 1316 402 140 185
Slide 10: Financial Highlights – Key Financial Ratios
Financial Highlights – Key Financial Ratios Current Ratio (x) Debtor Turnover Ratio (x) Interest Coverage (x) 2.4 2.6 12.5 23.9 21.3 1.9 18.3 11.2 11.4 FY20 FY21 FY22 FY20 FY21 FY22 FY20 FY21 FY22 ROE (%) ROCE (%) Dividend (₹ in Cr.) 28.0% 250% 250% 20.5% 24.3% 125% 19.0% 19.2% 14.0% 62 62 31 FY20 F
Slide 11: Financial Highlights – Key Financial Ratios
Financial Highlights – Key Financial Ratios Market Cap (₹ in Cr.) EV/EBITDA (x) PE Ratio (x) 26,544 64 114 21,773 14,869 44 75 36 66 FY20 FY21 FY22 FY20 FY21 FY22 FY20 FY21 FY22 Enterprise Value (₹ in Cr.) EPS (in ₹) Fixed Asset Turnover Ratio (x) 26,557 11.7 21,773 2.9 9.1 9.4 2.8 14,885 2.7 FY20 F
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 Slide 14 of 29
Slide 16: Diversified portfolio with strong identities
Diversified portfolio with strong identities It’s In Me Slide 15 of 29
Slide 17: Efficient customer reach across channels
Efficient customer reach across channels www.relaxofootwear.com 60,000+ ~650 Retailers/MBOs Distributors 388 ~30 EBOs Countries Exported to 1 Overseas office in Dubai Online Availability Slide 16 of 29
Slide 18: Sustained manufacturing excellence, certification & innovation
Sustained manufacturing excellence, certification & innovation Strong in-house manufacturing capabilities Certifications • 8 manufacturing facilities with a capacity to produce ~10 Lac pair/day. • ISO 9001:2015 • Continuous focus on optimising operations • ISO 14001:2015 – Dedicated line for manufac
Slide 19: Board of Directors
Board of Directors Executive Directors Ramesh Kumar Dua, Managing Director Mukand Lal Dua, Whole Time Director Over 46 years of experience in strategic, sales and marketing, production Over 49 years of experience in manufacturing excellence in footwear and new product development in footwear ind
Slide 20: Board of Directors
Board of Directors Independent Directors Pankaj Shrimali, Independent Director Deepa Verma, Independent Director Over 37 years of experience in areas of finance, accounts, secretarial, Over 33 years of experience in academic administration. corporate management, legal & corporate consultancy ser
Slide 21: And a strong management team
And a strong management team Ritesh Dua, Nitin Dua, Ashish Srivastava , Executive VP - Finance Executive VP - Retail VP – Human Resources MBA having over 22 years MBA having over 18 years MBA having over 24 years of experience in Finance, HR of experience in Retail of experience in HR, & IT Business
Slide 22: Key Strengths
Key Strengths Corporate Governance Distribution Customer Network First Brand Equity Adaptability Product Manufacturing Innovation Excellence Slide 21 of 27
Slide 23: Financial Highlights
Financial Highlights Classification: Internal
Slide 24: Statement of Profit & Loss
Statement of Profit & Loss Particulars (INR Cr.) Q2FY23 Q1FY23 Q2FY22 H1FY23 H1FY22 FY22 Revenue from Operations 669.55 667.15 714.43 1,336.80 1,211.56 2653.27 Other Income 5.66 4.17 7.07 9.83 12.34 23.72 Total Income 675.31 671 .32 721.50 1,346.63 1223.90 2676.99 Cost of Materials Consumed, includi
Slide 25: Notes
Notes The above results were reviewed by the Audit Committee and have been approved by the Board of Directors at 1. their meeting held on November 2, 2022. The Statutory auditors have conducted a limited review of the above unaudited financial results and have expressed an unmodified report on the s
Slide 26: Balance Sheet
Balance Sheet EQUITY AND LIABILITIES (INR Cr.) H1FY23 FY22 ASSETS (INR Cr.) H1FY23 FY22 Equity Non-Current Assets Equity Share Capital 24.89 24.89 Property, Plant and Equipment 898.32 769.35 Other Equity 1,738.10 1,735.23 Capital Work-in-Progress 40.22 145.18 1,762.99 1,760.12 Intangible Assets 24.4
Slide 27: Annexures
Annexures Classification: Internal
Slide 28: Awards and Accolades
Awards and Accolades Safety Rating ICRA AA Long Term Rating ICRA A1+ Short Term Rating Slide 27 of 29
Slide 29: Shareholding pattern
Shareholding pattern Shareholding as on 30th Sep, 2022 Total Shareholders – 345,741 Shareholder Information as on 345,569* (18.7%) Promoter & Promoter Group 30th September, 2022 Mutual Funds & AIF BSE Ticker 530517 20* (7.4%) Foreign Portfolio Investors NSE Ticker RELAXO 12* (70.8%) Others Market Ca
Slide 30: Thank You
Thank You LY AELAKO