Relaxo Footwears announced Q1FY23 results: Q1 FY23 Revenue at Rs. 667 crore up 34.2% YoY Q1 FY23 EBITDA at Rs. 86 crore up by 30.1% YoY with margins of 12.9% Q1 FY23 Profit After Tax at Rs. 39 crore up by 24.9% YoY with margins of 5.8% Commenting on the results and performance, Mr. Ramesh Kumar Dua, Managing Director said:“The company reported modest performance during the quarter and operating margins were subdued due to higher input costs. Going forward we expect steady revenue growth with improvement in margins due to settling down of the raw material (EVA) prices as the global unrest settles down. We are regularly aligning our strategy and product portfolio to match consumers evolving expectations. High value closed footwear category is expected to maintain growth momentum supported by re-opening of offices, schools and colleges. India’s consumption of per pairs at 1.9 as compared to 3.3 pairs in China, 6.4 pairs in Japan and 8.1 in USA, provides ample opportunity to footwear players and Relaxo being one of the largest company in this space shall benefit from this. Aggressive marketing & distribution strategy, strong supply chain, owned manufacturing facilities and professional team will go a long way in the growth of the Company. Overall, we believe the Indian growth story to remain intact as India being a preferred destination for investments amidst global asset shifts towards emerging economies.” Result PDF