Relaxo Footwears Limited (RELAXO) Financial Results — Revenue ₹751 Cr

Investor Takeaways

PAT grew 20.4% YoY to ₹68 crores in Q4 FY26

EBITDA margin expanded to 16.5% from 16.1% YoY

Revenue increased 8.1% YoY to ₹751 crores in Q4 FY26

EBITDA grew 10.6% YoY to ₹124 crores in Q4 FY26

Full-year revenue reached ₹2,702 crores for FY26

⚠️ No specific risks identified in this filing

Overall Tone: Positive based on the numbers only.

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹751 Cr	8.1%
Net Profit	₹68 Cr	20.4%
EBITDA	₹124 Cr	10.6%
EBITDA Margin	16.5%	+0.4 pp
EPS	Not available
OPM	13.8%	Flat

What Changed

Relaxo Footwears reported strong quarterly performance with PAT rising 20.4% YoY to ₹68 crores and EBITDA margin expanding to 16.5% from 16.1% in Q4 FY26. Revenue growth of 8.1% YoY to ₹751 crores was driven by strategic pricing actions, including 15-18% price hikes to offset 12-15% COGS inflation and 25-30% labor cost increases in one state. Full-year revenue reached ₹2,702 crores, while EBITDA grew 10.6% YoY to ₹374 crores. Management highlighted GST rate reductions and distributor normalization as favorable tailwinds. Capex guidance of ₹180-200 crores includes investments for 100 new exclusive brand outlets (EBOS) by December, targeting 4-5% volume growth and premiumization. Operating margin remained flat at 13.8% but management targets over 1% further expansion despite margin dilution from retail expansion. The company is navigating input cost pressures through pricing discipline and operational efficiency, supporting confidence in sustainable earnings growth.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Relaxo Footwears Limited	42.78	Not available	Not available	7,179.39
Titan Company Limited	77.59	41%	34.34%	3,70,126.93
Asian Paints Limited	64.95	19.82%	25.99%	2,49,928.58
LG Electronics India Limited	N/A	N/A%	N/A%	1,07,232.46

Relaxo trades at a lower P/E multiple compared to Titan and Asian Paints, suggesting potential relative valuation advantage, though direct comparability is limited due to sector differences and missing ROE/ROCE data for Relaxo.