Accumulate Relaxo Footwear; target of Rs 651: Dolat Capital

Dolat Capital recommended accumulate rating on Relaxo Footwear with a target price of Rs 651 in its research report dated August 25, 2020.

Broker Research

August 27, 2020 / 02:08 PM IST

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Dolat Capital's research report on Relaxo Footwear

Relaxo is a leading player in the ‘value’ segment enjoying a strong brand equity and robust product portfolio. Despite stiff competition, nationwide lockdown and resultant economic challenges, Relaxo registered 5%/29% growth in topline/net profit respectively in FY20.

Outlook

We believe that with robust distribution network, strong in-house manufacturing capabilities, innovation, rising aspirational levels within target segment, Relaxo is well placed to navigate through the current challenging business conditions.

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