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Relaxo Footwears Ltd.

BSE: 530517 Sector: Others
NSE: RELAXO ISIN Code: INE131B01039
BSE 10:49 | 16 Aug 1002.55 1.35
(0.13%)
OPEN

1011.00

HIGH

1011.90

LOW

1000.55

NSE 10:34 | 16 Aug 1003.60
(%)
OPEN

1007.45

HIGH

1012.00

LOW

1000.85

OPEN 1011.00
PREVIOUS CLOSE 1001.20
VOLUME 8105
52-Week high 1447.00
52-Week low 928.00
P/E 103.78
Mkt Cap.(Rs cr) 24,953
Buy Price 1001.10
Buy Qty 12.00
Sell Price 1002.55
Sell Qty 5.00
OPEN 1011.00
CLOSE 1001.20
VOLUME 8105
52-Week high 1447.00
52-Week low 928.00
P/E 103.78
Mkt Cap.(Rs cr) 24,953
Buy Price 1001.10
Buy Qty 12.00
Sell Price 1002.55
Sell Qty 5.00

Relaxo Footwears Ltd. (RELAXO) - Chairman Speech

Company chairman speech

FROM THE MANAGING DIRECTOR'S DESK

Dear Stakeholders

It gives me great pleasure to announce yet another profitable yeardespite the challenging business environment due to Covid-19 pandemic. Even thoughrevenues in FY 2020-21 dipped marginally by 2.13% EBITDA and PAT increased by 21.16% and28.87% respectively. Your Company managed Covid-19 challenges well and sustained strongcash generation during the period. Accordingly your Board has recommended a finaldividend of 250% i.e. Rs. 2.50/- per equity share of Rs. 1/- each fully paid up for theFinancial Year 2020-21.

Financial Year 2020-21 started with uncertainty and our HI performancewas subdued due to demand constraints and nationwide lockdown. However with resilience andadaptability we were able to recover to a large extent in H2 owing to surge in demand andrelaxation of Covid-19 restrictions. The spirited performance in FY-21 was achieved mainlydue to grit determination and agility demonstrated by Relaxo team.

Cognizant of the changing business environment your Company quicklyramped up necessary technological infrastructure provided access & training andgraduated all employees to remote working putting business operations back on track inrecord time all the while reworking strategies across verticals.

Your Company continued its endeavour to integrate retail wholesaleexports and online business verticals to reap synergies in marketing communications andbrand building. With a new consumer facing transactional website and a refreshed brandpresence on leading e-commerce portals your Company is well poised to drive growth inthis channel.

On the exports front a rationalised product portfolio strategiccredit control measures and a new warehousing facility will fetch greater operationalefficiencies to your Company in the times ahead.

While our Exclusive Brand Outlets (EBOs) were most adversely affecteddue to lockdown your Company took this opportunity to renegotiate long term rentals withthe landlords and adopt strategic preventive measures at the outlets to assure a safeshopping experience for its customers even as the restrictions eased.

Keeping pace with the latest during the year your Company has adoptedPour Moulding Technology for raw materials used in manufacture of EVA slippers and uppers.As a socially responsible corporate citizen your Company has adopted green fueltechnologies by changing all agro/solid fuel based boilers to gas based- PNC & LPC-for a cleaner environment.

Your Company recognises employees among its core assets and hascontinued to strengthen bond with them through reward & recognition initiativestrainings and ESOP plans during the year.

Continued efforts in development and a re-aligned product portfoliostood us well to serve the changing consumer demand in these times. With an objective ofstaying salient in the minds of the consumer your Company re-aligned its marketingstrategies with the tone of communication attuned to being helpful informative &positive in everyday life while building trust.

Covid-19 pandemic has brought about the greatest human tragedy inmodern history strongly impacting both lives and livelihood. Even though the Country ison the recovery path and there has been substantial dip in the Covid-19 cases thenegative sentiment and its impact is expected to remain for some time. With more than fourdecades of experience in manufacturing and marketing of footwear your Company is betterplaced than its peers to counter these uncertain times. As India battles the second waveof the virus with another in the offing we as a responsible corporate citizen arecommitted to support our employees business partners and communities.

I would like to thank all our stakeholders customers businesspartners. Board of Directors bankers and employees for their valuable support and beliefin the Company.

With Best Regards
Ramesh Kumar Dua
Managing Director

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