Sharekhan has given Buy recommendation for Relaxo Footwears with a target price of Rs. 1350 in its research report issued on Aug 27, 2021

Sharekhan’s research report on Relaxo Footwears

Improving mobility led by opening up of corporate and educational institutes would result in faster recovery in the quarters (in the out-of-home footwear category). Medium-term outlook is intact, as focus on improving penetration in the southern markets, new product addition, and shift from non-branded to branded products remain key growth levers. Higher sales volume, better mix and price hike of 7-8% would mitigate the input cost inflation and the OPM would remain at ~20%.


We maintain a Buy on Relaxo Footwear with a revised price target of Rs. 1350. A good financial track record, improving cash flows, and better growth prospects make it a better pick in the branded retail space.

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