Relaxo Footwears Ltd (BOM:530517)

Q2 2026 Relaxo Footwears Ltd Earnings Call Transcript

Nov 14, 2025 / 10:30 AM GMT

Release Date Price: ₹426.85 (-0.71%)

Transcript

Key Points

Positve

Relaxo Footwears Ltd (BOM:530517) reported stable EBITDA margins at 12.9%, supported by operational efficiency and cost management.
The company witnessed a recovery across channels, with general trade contributing a higher share to overall sales.
The reduction in GST from 12% to 5% on footwear priced below INR 2,500 has strengthened Relaxo's competitiveness against the unorganized sector.
Profit after tax for H1 FY26 increased by 4.9% year-on-year, with PAT margin improving by 95 basis points to 6.6%.
The company is optimistic about future growth, expecting momentum to strengthen due to festival demand, GST benefits, and sales transformation initiatives.

Negative

Revenue from operations decreased in Q2 FY26 compared to the previous year, primarily due to demand softness in the mass market segment.
The company faces challenges with an inverted duty structure, where input duties remain higher than output duties.
There is a delay in the impact of GST reduction on sales due to high inventory levels in distribution channels.
Consumer sentiment remains muted, affecting overall demand and growth expectations.
The company has not seen significant growth in closed footwear, which could potentially improve margins.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RLXO.NS - Relaxo Footwears Ltd
Q2 2026 Relaxo Footwears Ltd Earnings Call
Nov 14, 2025 / 10:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the Relaxer Footwear Q2 FY26 earnings conference call hosted by IIFL Capital. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone. I now hand the conference over to Mr. Samir Gupta from IIFL Capital.

Thank you and over to you, sir.

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Unidentified_2 [2]
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