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Last Updated: April 2, 2026, 3:34 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 530517 | NSE: RELAXO

Relaxo Footwears Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹219.85Overvalued by 15.44%vs CMP ₹260.00

P/E (38.6) × ROE (8.3%) × BV (₹84.70) × DY (1.15%)

₹125.06Overvalued by 51.90%vs CMP ₹260.00
MoS: -107.9% (Negative)Confidence: 66/100 (Moderate)Models: 1 Fair, 9 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹205.9220%Over (-20.8%)
Graham NumberEarnings₹113.3314%Over (-56.4%)
Earnings PowerEarnings₹48.9712%Over (-81.2%)
DCFCash Flow₹57.8212%Over (-77.8%)
Net Asset ValueAssets₹84.626%Over (-67.5%)
EV/EBITDAEnterprise₹252.708%Fair (-2.8%)
Dividend DiscountDividends₹25.508%Over (-90.2%)
Earnings YieldEarnings₹67.406%Over (-74.1%)
ROCE CapitalReturns₹183.698%Over (-29.4%)
Revenue MultipleRevenue₹167.845%Over (-35.4%)
Consensus (10 models)₹125.06100%Overvalued
Key Drivers: Wide model spread (₹26–₹253) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -6.3%

*Investments are subject to market risks

Investment Snapshot

49
Relaxo Footwears Ltd scores 49/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health70/100 · Strong
ROCE 11.2% AverageROE 8.3% AverageD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money40/100 · Moderate
FII holding stable No changeDII holding down 0.68% MF sellingPromoter holding at 71.3% Stable
Earnings Quality50/100 · Moderate
OPM stable around 14% Steady
Quarterly Momentum25/100 · Weak
Revenue (4Q): -7% YoY DecliningProfit (4Q): -4% YoY Declining
Industry Rank45/100 · Moderate
P/E 38.6 vs industry 34.5 In-lineROCE 11.2% vs industry 11.7% Average3Y sales CAGR: 2% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:34 am

Market Cap 6,483 Cr.
Current Price 260
Intrinsic Value₹125.06
High / Low 531/236
Stock P/E38.6
Book Value 84.7
Dividend Yield1.15 %
ROCE11.2 %
ROE8.31 %
Face Value 1.00
PEG Ratio-6.09

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Relaxo Footwears Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Relaxo Footwears Ltd 6,483 Cr. 260 531/23638.6 84.71.15 %11.2 %8.31 % 1.00
Campus Activewear Ltd 6,837 Cr. 224 304/21048.5 26.00.45 %20.1 %17.2 % 5.00
Bata India Ltd 8,072 Cr. 628 1,301/60542.0 1193.03 %15.1 %15.6 % 5.00
Liberty Shoes Ltd 386 Cr. 227 475/21033.1 1340.00 %9.99 %7.20 % 10.0
Khadim India Ltd 156 Cr. 85.0 311/77.516.2 90.20.00 %9.34 %2.20 % 10.0
Industry Average4,386.80 Cr238.0334.5077.040.77%11.71%8.72%5.50

All Competitor Stocks of Relaxo Footwears Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 681765739715713747748679667695654629668
Expenses 609647631624626627649592584583555547599
Operating Profit 721181089287120998883112998169
OPM % 11%15%15%13%12%16%13%13%12%16%15%13%10%
Other Income 44711655778111211
Interest 4445555555555
Depreciation 32333537383839404039403939
Profit before tax 41857660518260504575664936
Tax % 26%26%26%27%24%25%26%26%26%25%26%26%26%
Net Profit 30635644396144373356493627
EPS in Rs 1.212.542.261.781.552.471.781.481.332.261.961.451.07

Last Updated: February 4, 2026, 10:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 2:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,1801,4411,6681,6311,9412,2922,4102,3592,6532,7832,9142,7902,646
Expenses 1,0321,2401,4271,4001,6391,9641,9981,8612,2352,4422,5052,4052,284
Operating Profit 148201241231302328413498418341409385362
OPM % 13%14%14%14%16%14%17%21%16%12%14%14%14%
Other Income 207144128222316292743
Interest 231823159919191722212421
Depreciation 314047515462109110114125147158158
Profit before tax 96143178178244268292391311210269230226
Tax % 31%28%32%33%34%35%22%25%25%26%26%26%
Net Profit 66103120120161175226292233154200170168
EPS in Rs 2.744.295.014.996.697.079.1111.749.356.218.056.846.74
Dividend Payout % 5%6%6%10%11%13%14%21%27%40%37%44%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)56.06%16.50%0.00%34.17%8.70%29.14%29.20%-20.21%-33.91%29.87%-15.00%
Change in YoY Net Profit Growth (%)0.00%-39.56%-16.50%34.17%-25.47%20.45%0.06%-49.41%-13.70%63.78%-44.87%

Relaxo Footwears Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:3%
3 Years:2%
TTM:-8%
Compounded Profit Growth
10 Years:5%
5 Years:-6%
3 Years:-10%
TTM:-7%
Stock Price CAGR
10 Years:8%
5 Years:-5%
3 Years:-21%
1 Year:-39%
Return on Equity
10 Years:15%
5 Years:12%
3 Years:9%
Last Year:8%

Last Updated: September 5, 2025, 1:05 pm

Balance Sheet

Last Updated: December 4, 2025, 1:53 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 661212121225252525252525
Reserves 2713624685947491,0931,2481,5481,7351,8301,9762,0732,085
Borrowings 198239236178153112139144174164205213215
Other Liabilities 182234281286335394430459448476508452545
Total Liabilities 6578419971,0701,2501,6111,8412,1762,3832,4952,7142,7622,870
Fixed Assets 3664725315415258489819389871,1501,3711,3441,336
CWIP 2422862138114611814989335475
Investments 0001100338194225108343422
Other Assets 2673674384665877528147821,0521,0301,2021,0211,037
Total Assets 6578419971,0701,2501,6111,8412,1762,3832,4952,7142,7622,870

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 12510715918015412331951356400235406
Cash from Investing Activity + -70-130-130-89-108-56-116-45315-258-99-262
Cash from Financing Activity + -5121-31-89-46-68-203-56-70-138-106-162
Net Cash Flow 4-1-21-0-1141330-18
Free Cash Flow 54-2325904632203391-82216-11291
CFO/OP 103%72%89%103%78%64%97%121%33%134%74%120%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-50.00-38.005.0053.00149.00216.00274.00354.00244.00177.00204.00172.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 212124283335262834354541
Inventory Days 109163147146130130157154202154179177
Days Payable 396163637258658167697663
Cash Conversion Cycle 9112310811090107119101170121148155
Working Capital Days 51412192742574475596862
ROCE %26%30%30%26%30%26%24%26%18%12%14%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 71.25%71.27%71.27%71.27%71.27%71.27%71.27%71.27%71.27%71.27%71.27%71.27%
FIIs 2.82%2.87%3.24%3.39%3.32%3.36%3.41%3.27%3.07%2.85%3.04%3.01%
DIIs 7.96%8.34%8.53%8.86%9.33%9.54%9.98%10.54%10.55%9.95%9.88%9.87%
Public 17.98%17.51%16.96%16.47%16.07%15.82%15.34%14.92%15.13%15.93%15.82%15.85%
No. of Shareholders 3,58,7003,43,2953,16,1352,91,4012,69,3882,52,9812,39,2452,37,1952,36,6772,39,5602,39,2702,32,872

Shareholding Pattern Chart

No. of Shareholders

Relaxo Footwears Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Small Cap Fund 11,800,000 1.34 461.621,800,0002025-12-08 01:55:51555.56%
SBI Large & Midcap Fund 4,049,449 0.42 158.411,550,0002025-12-08 01:55:51161.25%
SBI Equity Hybrid Fund 2,533,988 0.12 99.132,533,9882025-04-22 15:16:470%
SBI Childrens Fund - Investment Plan 1,812,156 1.37 70.89N/AN/AN/A
SBI Multicap Fund 1,621,704 0.28 63.441,621,7042025-04-22 15:56:540%
SBI Flexicap Fund 1,347,099 0.23 52.7N/AN/AN/A
ICICI Prudential Bharat Consumption Fund 307,585 0.39 12.03N/AN/AN/A
SBI Consumption Opportunities Fund 290,000 0.39 11.34N/AN/AN/A
ICICI Prudential FMCG Fund 221,692 0.49 8.67N/AN/AN/A
SBI Childrens Fund - Savings Plan 14,495 0.39 0.52N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 6.848.056.219.3611.74
Diluted EPS (Rs.) 6.848.056.219.3511.74
Cash EPS (Rs.) 13.2113.9811.2313.9116.17
Book Value[Excl.RevalReserv]/Share (Rs.) 84.2980.4074.5370.7263.30
Book Value[Incl.RevalReserv]/Share (Rs.) 84.2980.4074.5370.7263.30
Dividend / Share (Rs.) 3.003.002.502.502.50
Revenue From Operations / Share (Rs.) 112.08117.08111.80106.6094.97
PBDIT / Share (Rs.) 16.4317.4914.2417.6620.86
PBIT / Share (Rs.) 10.0711.579.2113.0916.43
PBT / Share (Rs.) 9.2410.828.4412.4815.75
Net Profit / Share (Rs.) 6.848.056.219.3511.74
PBDIT Margin (%) 14.6614.9412.7316.5621.96
PBIT Margin (%) 8.989.888.2312.2817.30
PBT Margin (%) 8.249.247.5411.7016.58
Net Profit Margin (%) 6.106.875.558.7612.35
Return on Networth / Equity (%) 8.1110.018.3213.2118.54
Return on Capital Employeed (%) 10.8313.1211.3216.9623.64
Return On Assets (%) 6.167.386.199.7613.40
Total Debt / Equity (X) 0.000.010.000.010.00
Asset Turnover Ratio (%) 1.021.121.141.161.17
Current Ratio (X) 2.742.402.542.572.40
Quick Ratio (X) 1.501.251.341.111.46
Inventory Turnover Ratio (X) 4.821.991.912.391.99
Dividend Payout Ratio (NP) (%) 43.8431.0440.2826.690.00
Dividend Payout Ratio (CP) (%) 22.7117.8822.2517.930.00
Earning Retention Ratio (%) 56.1668.9659.7273.310.00
Cash Earning Retention Ratio (%) 77.2982.1277.7582.070.00
Interest Coverage Ratio (X) 19.7923.3018.4228.6730.34
Interest Coverage Ratio (Post Tax) (X) 9.2411.739.0316.1818.07
Enterprise Value (Cr.) 10084.4420231.0821055.1126520.3321706.20
EV / Net Operating Revenue (X) 3.616.947.5710.009.20
EV / EBITDA (X) 24.6646.4659.4260.3541.88
MarketCap / Net Operating Revenue (X) 3.636.977.599.999.20
Retention Ratios (%) 56.1568.9559.7173.300.00
Price / BV (X) 4.8310.1511.3915.0613.81
Price / Net Operating Revenue (X) 3.636.977.599.999.20
EarningsYield 0.010.010.010.010.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Relaxo Footwears Ltd. is a Public Limited Listed company incorporated on 13/09/1984 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1984PLC019097 and registration number is 019097. Currently Company is involved in the business activities of Manufacture of footwear. Company's Total Operating Revenue is Rs. 2789.61 Cr. and Equity Capital is Rs. 24.89 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
FootwearsAggarwal City Square, Plot No. 10, Manglam Place, Delhi Delhi 110085Contact not found
Management
NamePosition Held
Mr. Ramesh Kumar DuaChairman & Managing Director
Mr. Mukand Lal DuaWhole Time Director
Mr. Nikhil DuaWhole Time Director
Mr. Gaurav DuaWhole Time Director
Mr. Sushil BatraExecutive Director
Mr. Kuldip Singh DhingraIndependent Director
Mr. Rajeev Rupendra BhadauriaIndependent Director
Ms. Richa AroraIndependent Director
Mr. Yogesh KapurIndependent Director
Mr. Raj Kumar JainIndependent Director

FAQ

What is the intrinsic value of Relaxo Footwears Ltd and is it undervalued?

As of 08 April 2026, Relaxo Footwears Ltd's intrinsic value is ₹125.06, which is 51.90% lower than the current market price of ₹260.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (8.31 %), book value (₹84.7), dividend yield (1.15 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Relaxo Footwears Ltd?

Relaxo Footwears Ltd is trading at ₹260.00 as of 08 April 2026, with a FY2026-2027 high of ₹531 and low of ₹236. The stock is currently near its 52-week low. Market cap stands at ₹6,483 Cr..

How does Relaxo Footwears Ltd's P/E ratio compare to its industry?

Relaxo Footwears Ltd has a P/E ratio of 38.6, which is above the industry average of 34.50. The premium over industry average may reflect growth expectations or speculative interest.

Is Relaxo Footwears Ltd financially healthy?

Key indicators for Relaxo Footwears Ltd: ROCE of 11.2 % is moderate. Dividend yield is 1.15 %.

Is Relaxo Footwears Ltd profitable and how is the profit trend?

Relaxo Footwears Ltd reported a net profit of ₹170 Cr in Mar 2025 on revenue of ₹2,790 Cr. Compared to ₹233 Cr in Mar 2022, the net profit shows a declining trend.

Does Relaxo Footwears Ltd pay dividends?

Relaxo Footwears Ltd has a dividend yield of 1.15 % at the current price of ₹260.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Relaxo Footwears Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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