Consumer Discretionary Margin Recovery to Lag that in Topline
Recovery trends in discretionary categories are healthy; Our discretionary universe is expected to clock 11/2% revenue/EBITDA growth YoY (partly...
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Footwear: No bargains here!
Footwear, like most F&L categories, is fragmenting, with top businesses within the ecosystem losing revenue/EBITDA share.
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Relaxo Footwear: Weak Performance Amidst COVID 2.0
We reduce our FY22/23/24 estimates on account of slower-than-expected recovery and revise our rating from BUY to HOLD with a revised TP of Rs 1,060...
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Relaxo Footwears: Long Term Story Remains Intact
Relaxo has, over the years, maintained balance sheet prudence with controlled working capital cycle (NWC days: 60 days), healthy asset turn of 2.5x...
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Result Update:Relaxo Footwear
We continue to maintain BUY with a TP of Rs. 1,145/ share and we roll forward to FY24E numbers with a target PE multiple of 57x FY24E EPS.
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