Add Relaxo Footwears, target price Rs 950: Centrum Broking

Centrum Broking has add call on Relaxo Footwears with a target price of Rs 950. The current market price of Relaxo Footwears Ltd. is Rs 847.75.

Relaxo Footwears Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 21112.48 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-2023.



Financials
For the quarter ended 30-06-2024, the company reported a Standalone Total Income of Rs 753.62 Crore, up .18 % from last quarter Total Income of Rs 752.27 Crore and up 1.01 % from last year same quarter Total Income of Rs 746.09 Crore. Company reported net profit after tax of Rs 44.37 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 71.27 per cent stake in the company as of 30-Jun-2024, while FIIs owned 3.36 per cent, DIIs 9.54 per cent.