Add Relaxo Footwears, target price Rs 1057: Centrum Broking

Centrum Broking has add call on Relaxo Footwears with a target price of Rs 1057. The current market price of Relaxo Footwears is Rs 1000.3. Relaxo Footwears Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 24872.69 Crore) operating in Leather sector.

Relaxo Footwears Ltd. key Products/Revenue Segments include Footwear, Scrap, Others, Wind Power, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 671.32 Crore, down -4.66 % from last quarter Total Income of Rs 704.10 Crore and up 33.62 % from last year same quarter Total Income of Rs 502.40 Crore. Company reported net profit after tax of Rs 38.67 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 70.78 per cent stake in the company as of 30-Jun-2022, while FIIs owned 3.15 per cent, DIIs 7.06 per cent.