Weak revenue weighs on profitability

Company
13 May 2024
5 Min read 
  • Relaxo Footwears 4QFY24 results update
  •  Weak revenue weighs on profitability
  •  Decline in revenue/PAT by 2%/3% YoY
  •  Price cuts improved competitive edge, driving growth
  •  Estimates a CAGR of 12%/28% in revenue/PAT over FY24-26
  •  Stock trading at 64x FY26E EPS, appears expensive
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