External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Strong Revenue: Relaxo reported a robust 8% YoY revenue growth, signalling a positive momentum with a broad-based growth in all key metrics.</li><li>Volume growth remained strong during the quarter, with a recovery observed in the GT channel.</li><li>The return to growth was driven by two key factors: first, the reduction in GST from 12% to 5% lowered taxes and made branded, organised players significantly more competitive in the market; and second, a strong recovery in consumer demand during the fourth quarter further accelerated this momentum. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong Revenue: Relaxo reported a robust 8% YoY revenue growth, signalling a positive momentum with a broad-based growth in all key metrics.Volume growth remained strong during the quarter, with a recovery observed in the GT channel.The return to growth was driven by two key factors: first, the reduction in GST from 12% to 5% lowered taxes and made branded, organised players significantly more competitive in the market; and second, a strong recovery in consumer demand during the fourth quarter further accelerated this momentum. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Relaxo Footwears Ltd. - Gradual Recovery Continues; Maintain HOLD

<ul><li>Relaxo reported a marginal 0.2% YoY revenue growth, marking a stabilisation after consecutive quarters of decline.</li><li>Management attributed the improvement to ongoing sales transformation initiatives, though the mass-market environment remained subdued with cautious consumer spending during the festive season.</li><li>Heightened competition from the unorganised segment led to increased promotional intensity, aiding topline recovery but pressuring margins, further impacted by higher promotional spend and a one-off cost related to the new labour code.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Relaxo reported a marginal 0.2% YoY revenue growth, marking a stabilisation after consecutive quarters of decline.Management attributed the improvement to ongoing sales transformation initiatives, though the mass-market environment remained subdued with cautious consumer spending during the festive season.Heightened competition from the unorganised segment led to increased promotional intensity, aiding topline recovery but pressuring margins, further impacted by higher promotional spend and a one-off cost related to the new labour code.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Relaxo Footwears Ltd - Soft Quarter Continues; Maintain HOLD

<ul><li>Soft Quarter: Relaxo reported a sharp 7.5% YoY revenue decline, due to demand softness in the mass market segment and delayed purchases ahead of the implementation of GST 2.0.</li><li>Meanwhile, general trade remained subdued during the quarter, as distributors and channel partners focused on clearing legacy inventory ahead of the transition.</li><li>Management expects this softness to be temporary, with normalisation anticipated over the next few quarters as the channel replenishes stocks. R</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Soft Quarter: Relaxo reported a sharp 7.5% YoY revenue decline, due to demand softness in the mass market segment and delayed purchases ahead of the implementation of GST 2.0.Meanwhile, general trade remained subdued during the quarter, as distributors and channel partners focused on clearing legacy inventory ahead of the transition.Management expects this softness to be temporary, with normalisation anticipated over the next few quarters as the channel replenishes stocks. RContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Relaxo Footwears Ltd. - Soft Quarter, Steady Recovery Expected; Maintain HOLD

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Our consumer discretionary coverage universe (ex-Eternal) is expected to deliver ~23% YoY revenue growth in Q4, underpinned by a broad-based demand recovery.</li><li>This topline performance is mainly driven by sustained momentum in jewelry (driven by surge in gold prices), ongoing customer acquisition efforts in new-age businesses, and recovery in apparel growth YoY.</li><li>We expect jewelry, F&amp;G, paints, apparel, and footwear to clock ~47%, 19%, 5%, 16%, and 9% YoY revenue growth in Q4. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Our consumer discretionary coverage universe (ex-Eternal) is expected to deliver ~23% YoY revenue growth in Q4, underpinned by a broad-based demand recovery.This topline performance is mainly driven by sustained momentum in jewelry (driven by surge in gold prices), ongoing customer acquisition efforts in new-age businesses, and recovery in apparel growth YoY.We expect jewelry, F&amp;G, paints, apparel, and footwear to clock ~47%, 19%, 5%, 16%, and 9% YoY revenue growth in Q4. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumer Discretionary (Q4FY26 Results Preview): Q4FY26 – green shoots emerging across segments

<ul><li>Our consumer discretionary coverage universe (ex-Eternal) is expected to deliver ~20% YoY revenue growth in Q3</li><li>The growth primarily stems from jewelry (gold price-led) and new-age businesses (customer acquisition push)</li><li>In other sectors, demand continues to remain subdued</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Our consumer discretionary coverage universe (ex-Eternal) is expected to deliver ~20% YoY revenue growth in Q3The growth primarily stems from jewelry (gold price-led) and new-age businesses (customer acquisition push)In other sectors, demand continues to remain subduedContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumer Discretionary (Q3FY26 Results Preview): Q3FY26 – a mixed bag

India

Relaxo Footwears Ltd. is the marketing company for Relaxo Group.  The Group manufactures Hawai and lightweight chappals.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Relaxo Footwears (RLXF IN)

Relaxo Footwears Ltd. - Gradual Recovery Continues; Maintain HOLD

Strong Revenue: Relaxo reported a robust 8% YoY revenue growth, signalling a positive momentum with a broad-based growth in all key metrics.

Axis Direct

Relaxo Footwears Ltd - Soft Quarter Continues; Maintain HOLD

Management attributed the improvement to ongoing sales transformation initiatives, though the mass-market environment remained subdued with...

Axis Direct

Relaxo Footwears Ltd. - Soft Quarter, Steady Recovery Expected; Maintain HOLD

Soft Quarter: Relaxo reported a sharp 7.5% YoY revenue decline, due to demand softness in the mass market segment and delayed purchases ahead of...

Axis Direct

Consumer Discretionary (Q4FY26 Results Preview): Q4FY26 – green shoots emerging across segments

Our consumer discretionary coverage universe (ex-Eternal) is expected to deliver ~23% YoY revenue growth in Q4, underpinned by a broad-based demand...

HDFC Securities

Consumer Discretionary (Q3FY26 Results Preview): Q3FY26 – a mixed bag

Our consumer discretionary coverage universe (ex-Eternal) is expected to deliver ~20% YoY revenue growth in Q3 The growth primarily stems from...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)