External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

Equity Bottom-Up

<p>Relaxo has, over the years, maintained balance sheet prudence with controlled working capital cycle (NWC days: 60 days), healthy asset turn of 2.5x and generating RoCE of 20%+...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Relaxo has, over the years, maintained balance sheet prudence with controlled working capital cycle (NWC days: 60 days), healthy asset turn of 2.5x and generating RoCE of 20%+...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Relaxo Footwears: Long Term Story Remains Intact

External broker reports(aggregated public sources), Axis Direct

Axis Direct

<p>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.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

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.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Relaxo Footwears Ltd. is the marketing company for Relaxo Group.  The Group manufactures Hawai and lightweight chappals.

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Relaxo Footwears (RLXF IN)

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...

ICICI Securities Limited

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.

Axis Direct

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