Relaxo Footwears announced Q4FY23 & FY23 results: Q4FY23: Revenue at Rs 765 crore in Q4FY23 as against revenue of Rs 698 crore in Q4FY22, a growth of 10% YoY EBITDA is at Rs 118 crore in Q4FY23 as compared to Rs 111 crore in Q4FY22 EBITDA margin stood at 15.4% in Q4FY23 as against 15.9% in Q4FY22 Profit after tax at Rs 63 crore in Q4FY23. PAT margin stood at 8.3% as compared to 9.0% in Q4FY22. Better operating margin aided in the improvement of PAT Margin by 386 bps on a QoQ basis. FY23: Revenue at Rs 2,783 crore in FY23 as compared to Rs 2,653 crore in FY22, up by 5% EBITDA at Rs 336 crore in FY23 as compared to Rs 416 crore in FY22. EBITDA Margin stood at 12.1% in FY23, as compared to 15.7% in FY22 Profit after tax at Rs 154 crore in FY23 as compared to Rs 233 crore in FY22. PAT margin stood at 5.6% in FY23 as compared to 8.8% in FY22 Commenting on the results and performance, Ramesh Kumar Dua, Managing Director, said: “We are pleased with the performance of your company in Q4FY23, which was supported by substantial business growth across all segments as compared to previous quarters. Despite the challenging environment last year, our strong team responded effectively, and we remain committed to maintaining the high standards of excellence that have made us successful. Our price correction efforts have resulted in good momentum as we continue to recover our market share in all major segments without relying on discounts or offers. Our strong brand identity, robust distribution channels, and effective marketing strategies have facilitated our growth across categories, backed by our strong manufacturing facilities. Raw material prices have stabilized, enabling us to offer competitive prices in the market. Additionally, the majority of the high-cost old inventory has been liquidated & now new inventory with lower costs has started going to the markets, leading to improved margins this quarter. We are now a debt-free company with robust cash flow from operations, due to our strong working capital management. We believe these factors will help us to maintain our growth trajectory in the coming quarters. Looking ahead, we have a positive outlook for the industry and believe that our company is well-positioned to capitalize on opportunities arising due to the increased per capita footwear consumption and growing share of the organized market. We are confident that our efforts will continue to yield positive results.” Result PDF