Relaxo Footwears shares are down by almost 50% in the last 15 months. Relaxo saw a major uptrend and a lot of YouTube videos and articles were posted on why Relaxo footwear was a good buy, but now, that the stock price has corrected by a huge margin, investors are worried, about whether they should continue holding or sell the shares and move on.
Saurabh Mukherjea from Marcellus has exited Relaxo shares whereas Youtuber Akshat has started taking positions in Relaxo. What should you do?
Let us look at the Relaxo share price prediction for the next 6 years (from 2024 to 2030). But before that, let us learn more about the company.
What is Relaxo Footwears?
Relaxo footwears is one of the largest manufacturers of footwear in India. With its extensive range of products and a strong brand image, the company has become a household name in the country.
In recent years, the stock market has shown a great deal of interest in the company’s performance, and many investors are now asking the question “What is the Relaxo Footwears share price target for 2024 to 2030?”
In this article, we will take a closer look at the company’s financials, market trends, and other factors that could impact its stock price in the coming years.
Stock history of Relaxo Footwears
Relaxo Footwears’ stock has experienced a steady rise since its listing on the Bombay Stock Exchange in 2004. Since then, the stock has gained more than 800%, making it one of the most successful stocks on the Indian stock market.
Relaxo Footwears’ stock also benefited from the implementation of GST in India in July 2017. The stock gained further momentum when the company announced its plans to open a new manufacturing unit in Uttar Pradesh in 2018. Relaxo Footwears’ stock also saw a surge in 2019 when the company announced its foray into the retail market with the opening of its first store in Delhi.
Looking forward, Relaxo Footwears is well positioned to capitalize on the growing demand for footwear in India. Currently, the stocks of Relaxo Footwears are trading at Rs. 902.
Relaxo Footwears Q3 FY24 Financial Performance Highlights
- Revenue: ₹712.71 crore, up 4.65% YoY but down 0.36% QoQ.
- Profit: ₹38.57 crore, marking a 28.14% YoY increase.
- Operating Income: Increased by 23.31% YoY but decreased by 9% QoQ, reflecting potential efficiency gains over the longer term.
- EPS: ₹1.54, up 27.27% YoY, indicating improved profitability on a per-share basis.
- Stock Performance:
- 0.62% return in the last week.
- -7.22% return in the last 6 months.
- -4.8% YTD return.
- Market Cap: ₹21,411.21 crore, reflecting the company’s overall valuation.
- Analyst Ratings:
- 1 Strong Sell.
- 2 Sell.
- 4 Hold.
- 4 Buy, showing a varied sentiment among analysts regarding the company’s future prospects.
To buy Relaxo Footwears shares, you need to open a demat account with a stockbroker, and then deposit money into the trading account. Once the money is deposited, you can place an order for the desired number of shares by using the broker’s trading platform. The shares will be credited to your demat account once the transaction is completed.
You can also buy shares from the following trading platforms:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| March 2024 | 900.90 | 783.39 |
| April 2024 | 874.66 | 760.57 |
| May 2024 | 861.73 | 749.33 |
| June 2024 | 892.76 | 776.31 |
| July 2024 | 883.83 | 768.55 |
| August 2024 | 919.18 | 799.29 |
| September 2024 | 955.95 | 831.26 |
| October 2024 | 937.21 | 814.96 |
| November 2024 | 974.69 | 847.56 |
| December 2024 | 984.44 | 856.04 |
Throughout 2024, Relaxo Footwears is expected to witness fluctuating stock prices. Starting from March with a range between ₹900.90 (maximum) and ₹783.39 (minimum), the trend continues into April (₹874.66 to ₹760.57) and May (₹861.73 to ₹749.33). As the months progress, variations persist with June estimated at ₹892.76 to ₹776.31 and July at ₹883.83 to ₹768.55. August sees a potential range from ₹919.18 to ₹799.29, followed by September (₹955.95 to ₹831.26) and October (₹937.21 to ₹814.96). November is anticipated to range between ₹974.69 and ₹847.56. Finally, December is expected to close the year for Relaxo Footwears with prices fluctuating between ₹984.44 (maximum) and ₹856.04 (minimum).
| When | Maximum Price | Minimum Price |
| January 2025 | 985.42 | 758.02 |
| February 2025 | 987.40 | 759.54 |
| March 2025 | 1,008.14 | 775.49 |
| April 2025 | 988.37 | 760.28 |
| May 2025 | 959.58 | 738.14 |
| June 2025 | 1,002.76 | 771.36 |
| July 2025 | 983.10 | 756.23 |
| August 2025 | 1,013.50 | 779.62 |
| September 2025 | 1,025.67 | 788.97 |
| October 2025 | 1,052.33 | 809.49 |
| November 2025 | 1,078.64 | 829.72 |
| December 2025 | 1,127.18 | 867.06 |
In 2025, Relaxo Footwears is anticipated to witness a series of fluctuations in its stock prices. Commencing with January where prices are expected to range between ₹985.42 (maximum) and ₹758.02 (minimum), the trend continues into February (₹987.40 to ₹759.54) and March (₹1,008.14 to ₹775.49). As the months progress, fluctuations persist, with the year closing in December, with prices fluctuating between ₹1,127.18 (maximum) and ₹867.06 (minimum), indicating potential volatility throughout the year.
| When | Maximum Price | Minimum Price |
| January 2026 | 1,161.00 | 893.07 |
| February 2026 | 1,190.77 | 915.97 |
| March 2026 | 1,237.21 | 951.70 |
| April 2026 | 1,212.95 | 933.04 |
| May 2026 | 1,177.62 | 905.86 |
| June 2026 | 1,230.61 | 946.62 |
| July 2026 | 1,206.48 | 928.06 |
| August 2026 | 1,243.80 | 956.77 |
| September 2026 | 1,287.33 | 990.25 |
| October 2026 | 1,320.80 | 1,016.00 |
| November 2026 | 1,353.82 | 1,041.40 |
| December 2026 | 1,387.66 | 1,067.43 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,415.42 | 1,088.78 |
| February 2027 | 1,451.71 | 1,116.70 |
| March 2027 | 1,508.33 | 1,160.25 |
| April 2027 | 1,478.75 | 1,137.50 |
| May 2027 | 1,435.68 | 1,104.37 |
| June 2027 | 1,500.29 | 1,154.07 |
| July 2027 | 1,470.87 | 1,131.44 |
| August 2027 | 1,516.36 | 1,166.43 |
| September 2027 | 1,569.43 | 1,207.26 |
| October 2027 | 1,610.24 | 1,238.64 |
| November 2027 | 1,650.49 | 1,269.61 |
| December 2027 | 1,691.76 | 1,301.35 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,725.59 | 1,327.38 |
| February 2028 | 1,769.84 | 1,361.41 |
| March 2028 | 1,838.86 | 1,414.51 |
| April 2028 | 1,802.81 | 1,386.77 |
| May 2028 | 1,750.30 | 1,346.38 |
| June 2028 | 1,829.06 | 1,406.97 |
| July 2028 | 1,793.20 | 1,379.38 |
| August 2028 | 1,848.66 | 1,422.04 |
| September 2028 | 1,913.36 | 1,471.81 |
| October 2028 | 1,963.11 | 1,510.08 |
| November 2028 | 2,012.18 | 1,547.83 |
| December 2028 | 2,062.49 | 1,586.53 |
| When | Maximum Price | Minimum Price |
| January 2029 | 2,103.74 | 1,618.26 |
| February 2029 | 2,157.68 | 1,659.75 |
| March 2029 | 2,241.83 | 1,724.48 |
| April 2029 | 2,197.87 | 1,690.67 |
| May 2029 | 2,133.86 | 1,641.43 |
| June 2029 | 2,229.88 | 1,715.29 |
| July 2029 | 2,186.16 | 1,681.66 |
| August 2029 | 2,253.77 | 1,733.67 |
| September 2029 | 2,332.65 | 1,794.35 |
| October 2029 | 2,393.30 | 1,841.00 |
| November 2029 | 2,453.13 | 1,887.03 |
| December 2029 | 2,514.46 | 1,934.20 |
| When | Maximum Price | Minimum Price |
| January 2030 | 2,564.75 | 1,972.89 |
| February 2030 | 2,630.51 | 2,023.47 |
| March 2030 | 2,733.10 | 2,102.39 |
| April 2030 | 2,679.51 | 2,061.16 |
| May 2030 | 2,601.47 | 2,001.13 |
| June 2030 | 2,718.54 | 2,091.18 |
| July 2030 | 2,665.23 | 2,050.18 |
| August 2030 | 2,747.66 | 2,113.58 |
| September 2030 | 2,843.83 | 2,187.56 |
| October 2030 | 2,917.77 | 2,244.44 |
| November 2030 | 2,990.71 | 2,300.55 |
| December 2030 | 3,065.48 | 2,358.06 |
In January 2030, Relaxo Footwears is expected to witness its maximum price reaching 2,564.75, while its minimum price is anticipated to settle at 1,972.89. As February unfolds, the company’s shares are projected to fluctuate between a high of 2,630.51 and a low of 2,023.47. March is forecasted to see Relaxo Footwears trading between a peak of 2,733.10 and a trough of 2,102.39.
April 2030 is likely to see Relaxo Footwears experiencing its maximum price at 2,679.51, with a minimum price of 2,061.16. May is expected to bring fluctuations with the company’s shares trading between a high of 2,601.47 and a low of 2,001.13. June is projected to see Relaxo Footwears reaching a maximum of 2,718.54 and a minimum of 2,091.18.
In July 2030, Relaxo Footwears is anticipated to witness its shares fluctuating between a maximum price of 2,665.23 and a minimum price of 2,050.18. As August rolls in, the company’s stock is forecasted to reach a maximum price of 2,747.66 and a minimum price of 2,113.58. September is anticipated to see Relaxo Footwears trading between a peak of 2,843.83 and a trough of 2,187.56.
In October 2030, Relaxo Footwears is predicted to experience its shares reaching a maximum price of 2,917.77, while its minimum price is anticipated to be at 2,244.44. November is expected to see fluctuations with the company’s shares trading between a high of 2,990.71 and a low of 2,300.55. Finally, in December, Relaxo Footwears is projected to conclude the year with its maximum price at 3,065.48 and its minimum price at 2,358.06.
Financial Condition of Relaxo Footwears: Last 5 years
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Sales | 2,292 | 2,410 | 2,359 | 2,653 | 2,783 |
| Expenses | 1,964 | 1,998 | 1,861 | 2,235 | 2,442 |
| Operating Profit | 328 | 413 | 498 | 418 | 341 |
| OPM (%) | 14% | 17% | 21% | 16% | 12% |
| Other Income | 12 | 8 | 22 | 23 | 16 |
| Interest | 9 | 19 | 19 | 17 | 22 |
| Depreciation | 62 | 109 | 110 | 114 | 125 |
| PBT | 268 | 292 | 391 | 311 | 210 |
| Tax (%) | 35% | 22% | 25% | 25% | 26% |
| Net Profit | 175 | 226 | 292 | 233 | 154 |
| EPS (Rs) | 7.07 | 9.11 | 11.74 | 9.35 | 6.21 |
| Dividend Payout % | 13% | 14% | 21% | 27% | 40% |
From 2019 to 2023, Relaxo Footwears exhibited fluctuating financial performance. Sales grew from ₹2,292 crore in 2019 to ₹2,783 crore in 2023, with a notable peak in 2022. Operating Profit varied, reaching its highest at ₹498 crore in 2021. The Operating Profit Margin (OPM) fluctuated, peaking at 21% in 2021.
Net Profit experienced a decline from ₹226 crore in 2020 to ₹154 crore in 2023. Earnings Per Share (EPS) also saw a downturn, dropping from ₹9.11 in 2020 to ₹6.21 in 2023. The Dividend Payout Percentage increased significantly, reaching 40% in 2023.
FAQS
It is anticipated that Relaxo Footwears per share price will increase to ₹984.44 by the end of 2024.
The share price target of Relaxo Footwears for 2025 might be around ₹1,127.18.
The per-share price of Relaxo Footwears might reach around ₹ 3,065.48 by the end of 2030.
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Based on the financial data of the last five years, it can be concluded that Relaxo Footwears has shown growth in terms of sales, operating profit, and net profit. The company’s net profit has increased over the years, which can be seen as a positive sign for investors.
Furthermore, the price-to-earnings ratio of Relaxo Footwears has also increased over the years, indicating that the company’s shares are becoming more valuable.
Ramesh Kumar, the managing director of the company said that the company showed marginal improvement in volumes on a Q-o-Q basis, primarily supported by price corrections undertaken. He said, the market is competitive and challenging for the company, so it has made price corrections to try and stay competitive.
In conclusion, although based on the growth in the financial performance of Relaxo Footwears over the last five years, it can be said that the company’s shares are a good option for investment.
What did we learn?
- 1 What is Relaxo Footwears?
- 2 Stock history of Relaxo Footwears
- 3 Relaxo Footwears Q3 FY24 Financial Performance Highlights
- 4 How to buy Relaxo Footwears shares?
- 5 Share Price Prediction of Relaxo Footwears: 2024 to 2030
- 5.1 Relaxo Footwears Share Price Target 2024
- 5.2 Relaxo Footwears Share Price Target 2025
- 5.3 Relaxo Footwears Share Price Target 2026
- 5.4 Relaxo Footwears Share Price Target 2027
- 5.5 Relaxo Footwears Share Price Target 2028
- 5.6 Relaxo Footwears Share Price Target 2029
- 5.7 Relaxo Footwears Share Price Target 2030
- 6 Financial Condition of Relaxo Footwears: Last 5 years
- 7 FAQS
- 8 Conclusion: Should you buy Relaxo Shares in 2024?
