Relaxo Footwears tanks 7%, hits 52-week low on weak Q2 performance

In Q2, EBITDA margins declined to 8.9 per cent, down 445 bps YoY and 400 bps on QoQ, due to higher raw material cost.

Shares of Relaxo Footwears hit a 52-week low of Rs 908 on declining 7 per cent in Thursday’s intra-day trade owing to weak September quarter results. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) margins declined to 8.9 per cent, down 445 bps year-on-year (YoY) and 400 bps on quarter-on-quarter (QoQ), due to higher raw material cost.

The stock fell below its previous low of Rs 928, which it touched on May 12, 2022. In the past one year, Relaxo Footwears has underperformed the market, by declining 35 per cent, as compared to 2 per cent rise