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Relaxo Footwears

BSE:530517
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
530517
BSE
₹99B
Market Cap
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Last updated 2019/05/24 12:39
Company description

Relaxo Footwears Limited manufactures and sells footwear in India. The last earnings update was 14 days ago. More info.

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530517 Share Price and Events
7 Day Returns
2.6%
BSE:530517
1.7%
IN Luxury
3.3%
IN Market
1 Year Returns
21.6%
BSE:530517
2%
IN Luxury
-0.5%
IN Market
530517 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Relaxo Footwears (530517) 2.6% -8.7% 12.1% 21.6% 84% 345%
IN Luxury 1.7% -1.4% 7.5% 2% 52.1% 132.6%
IN Market 3.3% -1.2% 5.9% -0.5% 34.4% 45.6%
1 Year Return vs Industry and Market
  • 530517 outperformed the Luxury industry which returned 2% over the past year.
  • 530517 outperformed the Market in India which returned -0.5% over the past year.
Price Volatility
530517
Industry
5yr Volatility vs Market
Related Companies

530517 Value

 Is Relaxo Footwears undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Relaxo Footwears to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Relaxo Footwears.

BSE:530517 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.5%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:530517
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.71
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.715 (1 + (1- 35%) (0.88%)) 		0.812
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.812 * 8.6%) 		14.53%

Discounted Cash Flow Calculation for BSE:530517 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Relaxo Footwears is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:530517 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 14.53%)
2019 1,139.75 Analyst x4 995.14
2020 2,635.33 Analyst x3 2,009.04
2021 2,096.75 Analyst x4 1,395.65
2022 1,809.92 Est @ -13.68% 1,051.88
2023 1,677.60 Est @ -7.31% 851.28
2024 1,629.75 Est @ -2.85% 722.07
2025 1,634.12 Est @ 0.27% 632.15
2026 1,674.20 Est @ 2.45% 565.48
2027 1,740.86 Est @ 3.98% 513.40
2028 1,828.82 Est @ 5.05% 470.91
Present value of next 10 years cash flows ₹9,207.01
BSE:530517 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹1,828.82 × (1 + 7.55%) ÷ (14.53% – 7.55%) 		₹28,174.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹28,174.66 ÷ (1 + 14.53%)10 		₹7,254.80
BSE:530517 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹9,207.01 + ₹7,254.80 		₹16,461.81
Equity Value per Share
(INR)		 = Total value / Shares Outstanding
= ₹16,461.81 / 124.05 		₹132.7
BSE:530517 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹132.70
Current discount Discount to share price of ₹818.85
= -1 x (₹818.85 - ₹132.70) / ₹132.70 		-517.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Relaxo Footwears is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Relaxo Footwears's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Relaxo Footwears's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:530517 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹14.15
BSE:530517 Share Price ** BSE (2019-05-24) in INR ₹818.85
India Luxury Industry PE Ratio Median Figure of 241 Publicly-Listed Luxury Companies 11.25x
India Market PE Ratio Median Figure of 2,774 Publicly-Listed Companies 15.46x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Relaxo Footwears.

BSE:530517 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:530517 Share Price ÷ EPS (both in INR)

= 818.85 ÷ 14.15

 57.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Relaxo Footwears is overvalued based on earnings compared to the IN Luxury industry average.
  • Relaxo Footwears is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Relaxo Footwears's expected growth come at a high price?
Raw Data
BSE:530517 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 57.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts		 24.6%per year
India Luxury Industry PEG Ratio Median Figure of 23 Publicly-Listed Luxury Companies 0.94x
India Market PEG Ratio Median Figure of 557 Publicly-Listed Companies 1.3x

*Line of best fit is calculated by linear regression .

BSE:530517 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 57.87x ÷ 24.6%

 2.35x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Relaxo Footwears is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Relaxo Footwears's assets?
Raw Data
BSE:530517 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹89.16
BSE:530517 Share Price * BSE (2019-05-24) in INR ₹818.85
India Luxury Industry PB Ratio Median Figure of 311 Publicly-Listed Luxury Companies 0.72x
India Market PB Ratio Median Figure of 3,642 Publicly-Listed Companies 1.05x
BSE:530517 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:530517 Share Price ÷ Book Value per Share (both in INR)

= 818.85 ÷ 89.16

 9.18x

* Primary Listing of Relaxo Footwears.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Relaxo Footwears is overvalued based on assets compared to the IN Luxury industry average.
X
Value checks
We assess Relaxo Footwears's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
    5. Relaxo Footwears has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

530517 Future Performance

 How is Relaxo Footwears expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Relaxo Footwears expected to grow at an attractive rate?
  • Relaxo Footwears's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Relaxo Footwears's earnings growth is expected to exceed the India market average.
  • Relaxo Footwears's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
BSE:530517 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:530517 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 24.6%
BSE:530517 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 15.5%
India Luxury Industry Earnings Growth Rate Market Cap Weighted Average 17.8%
India Luxury Industry Revenue Growth Rate Market Cap Weighted Average 14.4%
India Market Earnings Growth Rate Market Cap Weighted Average 16.9%
India Market Revenue Growth Rate Market Cap Weighted Average 10.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:530517 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:530517 Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 31,275 3,050 2,907 5
2020-03-31 26,922 3,505 2,358 6
BSE:530517 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 22,921 1,754
2018-12-31 22,226 1,745
2018-09-30 21,258 1,771
2018-06-30 20,404 1,697
2018-03-31 19,569 1,543 1,611
2017-12-31 19,787 1,423
2017-09-30 18,874 1,285
2017-06-30 18,176 1,233
2017-03-31 16,312 1,802 1,200
2016-12-31 17,268 1,215
2016-09-30 17,247 1,208
2016-06-30 16,930 1,205

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Relaxo Footwears's earnings are expected to grow significantly at over 20% yearly.
  • Relaxo Footwears's revenue is expected to grow by 15.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:530517 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Relaxo Footwears Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:530517 Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 23.88 25.00 22.30 5.00
2020-03-31 19.34 20.30 17.90 5.00
BSE:530517 Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 14.15
2018-12-31 14.18
2018-09-30 14.72
2018-06-30 14.11
2018-03-31 13.40
2017-12-31 11.84
2017-09-30 10.69
2017-06-30 10.27
2017-03-31 9.99
2016-12-31 10.11
2016-09-30 10.07
2016-06-30 10.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Relaxo Footwears is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
Show me more growth companies in the Luxury industry
X
Future performance checks
We assess Relaxo Footwears's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Relaxo Footwears has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

530517 Past Performance

  How has Relaxo Footwears performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Relaxo Footwears's growth in the last year to its industry (Luxury).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Relaxo Footwears's year on year earnings growth rate has been positive over the past 5 years.
  • Relaxo Footwears's 1-year earnings growth is less than its 5-year average (8.9% vs 16.6%)
  • Relaxo Footwears's earnings growth has not exceeded the IN Luxury industry average in the past year (8.9% vs 15.8%).
Earnings and Revenue History
Relaxo Footwears's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Relaxo Footwears Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:530517 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 22,920.80 1,754.40 2,586.60
2018-12-31 22,226.00 1,744.90 3,804.90
2018-09-30 21,257.80 1,770.50 3,739.10
2018-06-30 20,404.40 1,696.70 2,304.20
2018-03-31 19,569.20 1,610.70 3,476.90
2017-12-31 19,787.00 1,423.00 4,984.90
2017-09-30 18,873.50 1,284.60 4,798.70
2017-06-30 18,176.10 1,233.40 4,800.70
2017-03-31 16,311.50 1,199.50 2,910.30
2016-12-31 17,268.46 1,214.97 4,812.01
2016-09-30 17,246.86 1,208.07 4,798.01
2016-06-30 16,929.86 1,205.47 1,658.75
2016-03-31 17,118.10 1,202.80 4,681.40
2015-12-31 16,678.54 1,301.37 4,584.49
2015-09-30 16,128.38 1,256.23 4,524.74
2015-06-30 15,604.47 1,158.91 1,422.75
2015-03-31 14,808.14 1,030.50 3,865.21
2014-12-31 14,115.42 821.95 3,779.49
2014-09-30 13,401.15 728.67 3,726.42
2014-06-30 12,715.77 671.96 1,175.00
2014-03-31 12,122.68 656.36 3,656.37
2013-12-31 11,312.06 572.99 3,168.21
2013-09-30 10,950.01 526.94 3,166.51
2013-06-30 10,738.76 513.21 3,172.43
2013-03-31 10,098.27 448.08 3,145.41
2012-12-31 9,595.33 501.08 2,815.16
2012-09-30 9,407.59 501.58 2,715.56
2012-06-30 8,936.39 442.11 1,178.29

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Relaxo Footwears has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Relaxo Footwears used its assets more efficiently than the IN Luxury industry average last year based on Return on Assets.
  • Relaxo Footwears's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
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Past performance checks
We assess Relaxo Footwears's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Relaxo Footwears has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

530517 Health

 How is Relaxo Footwears's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Relaxo Footwears's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Relaxo Footwears is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Relaxo Footwears's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Relaxo Footwears's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 8.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Relaxo Footwears Company Filings, last reported 1 month ago.

BSE:530517 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 11,050.70 869.20 452.90
2018-12-31 8,276.60 778.50 70.90
2018-09-30 8,276.60 778.50 70.90
2018-06-30 7,612.10 1,253.50 57.50
2018-03-31 7,612.10 1,532.60 36.20
2017-12-31 6,615.30 1,510.70 40.50
2017-09-30 6,615.30 1,510.70 40.50
2017-06-30 6,047.90 1,738.80 36.50
2017-03-31 6,063.70 1,784.40 35.10
2016-12-31 5,435.50 1,669.60 37.00
2016-09-30 5,435.50 1,669.60 37.00
2016-06-30 4,799.81 2,025.96 23.74
2016-03-31 4,799.80 2,363.90 23.70
2015-12-31 4,308.53 2,435.59 28.48
2015-09-30 4,308.53 2,435.59 28.48
2015-06-30 3,678.18 2,109.79 44.89
2015-03-31 3,678.18 2,393.87 44.89
2014-12-31 3,124.52 1,353.96 40.98
2014-09-30 3,124.52 1,353.96 40.98
2014-06-30 2,765.62 1,627.18 56.64
2014-03-31 2,765.62 1,983.53 56.64
2013-12-31 2,476.67 2,030.33 135.55
2013-09-30 2,476.67 2,030.33 135.55
2013-06-30 2,144.36 2,253.85 29.71
2013-03-31 2,144.36 2,253.85 29.71
2012-12-31 1,975.82 1,756.11 15.61
2012-09-30 1,975.82 1,756.11 15.61
2012-06-30 1,724.36 1,455.18 10.24
  • Relaxo Footwears's level of debt (7.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (71.6% vs 7.9% today).
  • Debt is well covered by operating cash flow (177.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 38x coverage).
Show me more healthy companies in the Luxury industry
X
Financial health checks
We assess Relaxo Footwears's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Relaxo Footwears has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

530517 Dividends

 What is Relaxo Footwears's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.22%
Current annual income from Relaxo Footwears dividends. Estimated to be 0.32% next year.
If you bought ₹2,000 of Relaxo Footwears shares you are expected to receive ₹4 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Relaxo Footwears's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.54%).
  • Relaxo Footwears's dividend is below the markets top 25% of dividend payers in India (2.01%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:530517 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
India Luxury Industry Average Dividend Yield Market Cap Weighted Average of 108 Stocks 0.6%
India Market Average Dividend Yield Market Cap Weighted Average of 1408 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:530517 Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 2.60 1.00
2020-03-31 2.60 1.00
BSE:530517 Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-10 1.800 0.221
2018-05-11 1.500 0.197
2017-05-12 1.000 0.178
2016-08-10 0.600 0.137
2016-05-16 0.600 0.126
2015-08-27 0.500 0.106
2014-08-25 0.250 0.076
2014-05-12 0.250 0.131
2013-07-29 0.200 0.199
2013-05-13 0.200 0.287
2012-09-17 0.150 0.214
2011-09-20 0.150 0.404
2010-05-31 0.200 0.624
2009-11-03 0.100 0.483
2009-05-28 0.075 1.121

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Relaxo Footwears is not paying a notable dividend for India, therefore no need to check if the payments are stable.
  • Relaxo Footwears is not paying a notable dividend for India, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Relaxo Footwears's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Relaxo Footwears's dividends as it is not paying a notable one for India.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (9.2x coverage).
X
Income/ dividend checks
We assess Relaxo Footwears's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Relaxo Footwears afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Relaxo Footwears has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

530517 Management

 What is the CEO of Relaxo Footwears's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ramesh Dua
COMPENSATION ₹120,980,000
AGE 64
TENURE AS CEO 5.1 years
CEO Bio

Mr. Ramesh Kumar Dua serves as the Managing Director of Relaxo Footwears Limited since April 1, 2014 and serves as its Director. Mr. Dua serves as Director of Relaxo Rubber Private Limited, Marvel Polymers Private Limited and Confederation of Indian Footwears Industries. He has Over 37 years of experience in Management, Marketing, Production and Product Development in the footwear Industry. He is a Commerce Graduate at Rubber Technologist & Licentiate of LPRI, London.

CEO Compensation
  • Ramesh's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Ramesh's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Relaxo Footwears management team in years:

6.1
Average Tenure
54
Average Age
  • The average tenure for the Relaxo Footwears management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Ramesh Dua

TITLE
MD & Director
COMPENSATION
₹121M
AGE
64
TENURE
5.1 yrs

Sushil Batra

TITLE
Chief Financial Officer
AGE
54
TENURE
11.8 yrs

Nikhil Dua

TITLE
Whole Time Director
COMPENSATION
₹9M
AGE
42

Deval Ganguly

TITLE
Whole-Time Director
COMPENSATION
₹19M
AGE
59

Hans Sapra

TITLE
Senior Vice President of Material
AGE
69
TENURE
25.6 yrs

Verinder Kumar

TITLE
Vice President of Manufacturing
AGE
55
TENURE
6.1 yrs

Vikas Tak

TITLE
Company Secretary & Compliance Officer
TENURE
4 yrs

Gaurav Dua

TITLE
Executive Vice President of Marketing
COMPENSATION
₹7M
AGE
37

Nitin Dua

TITLE
Executive Vice President of Retail
COMPENSATION
₹7M
AGE
36

Ritesh Dua

TITLE
Executive Vice President of Finance
COMPENSATION
₹7M
AGE
40
Board of Directors Tenure

Average tenure and age of the Relaxo Footwears board of directors in years:

9
Average Tenure
59
Average Age
  • The tenure for the Relaxo Footwears board of directors is about average.
Board of Directors

Mukand Dua

TITLE
Executive Chairman
COMPENSATION
₹121M
AGE
69

Ramesh Dua

TITLE
MD & Director
COMPENSATION
₹121M
AGE
64

Nikhil Dua

TITLE
Whole Time Director
COMPENSATION
₹9M
AGE
42
TENURE
22.3 yrs

Deval Ganguly

TITLE
Whole-Time Director
COMPENSATION
₹19M
AGE
59
TENURE
6.5 yrs

Vivek Kumar

TITLE
Independent & Non-Executive Director
COMPENSATION
₹385K
AGE
62
TENURE
12.3 yrs

Pankaj Shrimali

TITLE
Independent & Non-Executive Director
COMPENSATION
₹390K
AGE
56
TENURE
9 yrs

Deepa Verma

TITLE
Independent & Non-Executive Director
COMPENSATION
₹310K
AGE
58
TENURE
5.3 yrs
Who owns this company?
Recent Insider Trading
  • Relaxo Footwears insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
30. Mar 19 Sell Sushil Batra Individual 28. Mar 19 29. Mar 19 -1,500 ₹771.71 ₹-1,155,633
29. Mar 19 Sell Madhuri Shrimali Individual 29. Mar 19 29. Mar 19 -1,301 ₹772.53 ₹-1,005,059
29. Mar 19 Sell Rishi Nayyar Individual 08. Jan 19 29. Mar 19 -1,810 ₹771.37 ₹-1,381,244
29. Mar 19 Sell Pankaj Shrimali Individual 29. Mar 19 29. Mar 19 -2,955 ₹772.08 ₹-2,281,492
28. Mar 19 Sell Pankaj Shrimali Individual 28. Mar 19 28. Mar 19 -400 ₹762.47 ₹-304,990
26. Mar 19 Sell Pankaj Shrimali Individual 25. Mar 19 25. Mar 19 -304 ₹755.04 ₹-229,531
26. Mar 19 Sell Madhuri Shrimali Individual 26. Mar 19 26. Mar 19 -100 ₹762.00 ₹-76,200
20. Mar 19 Sell Deepak Bagga Individual 01. Mar 19 06. Mar 19 -2,500 ₹780.47 ₹-1,895,927
20. Mar 19 Sell Deepak Bagga Individual 01. Mar 19 06. Mar 19 -2,500 ₹780.47 ₹-1,895,927
20. Mar 19 Sell Vinay Bajaj Individual 07. Jan 19 14. Feb 19 -1,100 ₹768.00 ₹-841,750
20. Mar 19 Sell Vinay Bajaj Individual 07. Jan 19 15. Mar 19 -2,680 ₹772.00 ₹-2,033,220
16. Mar 19 Sell Pankaj Shrimali Individual 15. Mar 19 15. Mar 19 -200 ₹773.50 ₹-154,700
07. Mar 19 Sell Madhuri Shrimali Individual 06. Mar 19 06. Mar 19 -500 ₹775.62 ₹-387,811
07. Mar 19 Sell Pankaj Shrimali Individual 06. Mar 19 06. Mar 19 -1,500 ₹775.05 ₹-1,162,574
06. Mar 19 Sell Madhuri Shrimali Individual 05. Mar 19 05. Mar 19 -20 ₹760.00 ₹-15,200
26. Feb 19 Sell Deval Ganguly Individual 08. Feb 19 18. Feb 19 -4,519 ₹765.25 ₹-3,443,551
22. Feb 19 Sell Madhuri Shrimali Individual 21. Feb 19 21. Feb 19 -2,008 ₹752.03 ₹-1,510,072
20. Feb 19 Sell Madhuri Shrimali Individual 19. Feb 19 19. Feb 19 -584 ₹755.36 ₹-441,130
20. Feb 19 Sell Pankaj Shrimali Individual 19. Feb 19 19. Feb 19 -100 ₹754.89 ₹-75,489
19. Feb 19 Sell Madhuri Shrimali Individual 18. Feb 19 18. Feb 19 -225 ₹755.01 ₹-169,878
19. Feb 19 Sell Pankaj Shrimali Individual 18. Feb 19 18. Feb 19 -25 ₹766.00 ₹-19,150
15. Feb 19 Sell Madhuri Shrimali Individual 14. Feb 19 15. Feb 19 -285 ₹763.77 ₹-216,542
13. Feb 19 Sell Madhuri Shrimali Individual 13. Feb 19 13. Feb 19 -1,481 ₹756.34 ₹-1,120,135
12. Feb 19 Sell Madhuri Shrimali Individual 11. Feb 19 12. Feb 19 -200 ₹746.90 ₹-148,400
15. Feb 19 Sell Pankaj Shrimali Individual 14. Feb 19 14. Feb 19 -50 ₹765.00 ₹-38,250
12. Feb 19 Buy Gaurav Dua Individual 08. Feb 19 08. Feb 19 171,387 ₹493.95 ₹84,656,602
12. Feb 19 Buy Ritesh Dua Individual 08. Feb 19 08. Feb 19 171,387 ₹493.95 ₹84,656,602
12. Feb 19 Buy Usha Dua Individual 08. Feb 19 08. Feb 19 229,805 ₹493.95 ₹113,512,170
12. Feb 19 Buy Nitin Dua Individual 08. Feb 19 08. Feb 19 171,387 ₹493.95 ₹84,656,602
12. Feb 19 Buy Nikhil Dua Individual 08. Feb 19 08. Feb 19 171,387 ₹493.95 ₹84,656,602
12. Feb 19 Buy Mukand Dua Individual 08. Feb 19 08. Feb 19 1,065,260 ₹493.95 ₹526,185,133
12. Feb 19 Buy Ramesh Dua Individual 08. Feb 19 08. Feb 19 1,466,453 ₹493.95 ₹724,354,399
11. Jan 19 Sell Sushil Batra Individual 08. Jan 19 10. Jan 19 -640 ₹760.20 ₹-484,065
08. Jan 19 Sell Sushil Batra Individual 04. Jan 19 07. Jan 19 -2,000 ₹758.00 ₹-1,503,003
04. Jan 19 Sell Sushil Batra Individual 01. Jan 19 03. Jan 19 -2,700 ₹746.64 ₹-2,008,912
02. Jan 19 Sell Sushil Batra Individual 28. Dec 18 31. Dec 18 -1,100 ₹732.36 ₹-805,600
27. Dec 18 Sell Sushil Batra Individual 26. Dec 18 26. Dec 18 -500 ₹733.00 ₹-366,500
24. Dec 18 Sell Sushil Batra Individual 18. Dec 18 20. Dec 18 -2,330 ₹738.23 ₹-1,720,081
04. Dec 18 Sell Sanjeev Rawat Individual 27. Nov 18 30. Nov 18 -1,800 ₹766.37 ₹-1,379,462
26. Nov 18 Sell Sandeep Singh Individual 21. Nov 18 22. Nov 18 -2,900 ₹778.38 ₹-2,244,648
10. Oct 18 Sell Ashish Nigam Individual 03. Jul 18 28. Sep 18 -2,573 ₹838.00 ₹-2,028,125
13. Sep 18 Sell Ashit Sen Individual 08. Aug 18 13. Aug 18 -743 ₹851.18 ₹-630,336
13. Sep 18 Sell Ashit Sen Individual 08. Aug 18 23. Aug 18 -1,743 ₹865.26 ₹-1,497,408
13. Sep 18 Sell Ashit Sen Individual 08. Aug 18 08. Aug 18 -243 ₹835.00 ₹-202,905
11. Sep 18 Buy Vijay Wadhwani Individual 27. Aug 18 27. Aug 18 2,950 ₹850.00 ₹2,507,500
21. Jul 18 Sell Ashit Sen Individual 12. Jul 18 19. Jul 18 -1,500 ₹767.78 ₹-1,143,213
21. Jul 18 Sell Ashit Sen Individual 12. Jul 18 19. Jul 18 -1,000 ₹764.00 ₹-759,323
19. Jul 18 Sell Verinder Kumar Individual 11. Jul 18 11. Jul 18 -3,000 ₹745.00 ₹-2,235,000
27. Jun 18 Sell Ashit Sen Individual 30. May 18 26. Jun 18 -2,289 ₹734.00 ₹-1,665,337
08. Jun 18 Sell Verinder Kumar Individual 01. Jun 18 01. Jun 18 -4,862 ₹722.00 ₹-3,510,364
X
Management checks
We assess Relaxo Footwears's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Relaxo Footwears has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

530517 News

Simply Wall St News

Did Relaxo Footwears Limited's (BOM:530517) Recent Earnings Growth Beat The Trend?

In this commentary, I will examine Relaxo Footwears Limited's (BOM:530517) latest earnings update (31 March 2018) and compare these figures against its performance over the past couple of years, as well as how the rest of the luxury industry performed. … Check out our latest analysis for Relaxo Footwears. … 530517's trailing twelve-month earnings (from 31 March 2018) of ₹1.61b has

Simply Wall St - –

530517 Company Info

Description

Relaxo Footwears Limited manufactures and sells footwear in India. It offers slippers, canvas shoes, rubber flip flops, EVA injected flip flops, PVC DIP shoes, sport shoes, sandals, and PVC DIP casuals for men, women, and kids. The company operates a portfolio of brands, such as Relaxo, Flite, Sparx, Bahamas, Schoolmate, BOSTON, Mary Jane, KIDS FUN, and Casualz. It sells its products through distributors, retail outlets, exports, e-commerce, etc. The company also operates a retail network of 311 stores; and exports its products to Asia, the Middle East, Europe, Australia, Africa, South America, and Oceania. Relaxo Footwears Limited was founded in 1976 and is based in New Delhi, India.

Details
Name: Relaxo Footwears Limited
530517
Exchange: BSE
Founded: 1976
₹98,794,115,257
124,050,873
Website: http://www.relaxofootwear.com
Address: Relaxo Footwears Limited
Aggarwal City Square,
Plot No. 10,
New Delhi,
Delhi, 110085,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 530517 Equity Shares Mumbai Stock Exchange IN INR 11. Aug 1998
NSEI RELAXO Equity Shares National Stock Exchange of India IN INR 11. Aug 1998
Number of employees
Current staff
Staff numbers
5,738
Relaxo Footwears employees.
Industry
Footwear
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 12:39
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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