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The decline in sales is due to slight decline in overall volumes, which was partly offset by improved average realisation.
EBITDA rose 2% to Rs 120 crore during the quarter as compared with Rs 118 crore posted in corresponding quarter last year.
EBITDA margin stood at 16.1% in fourth quarter of FY24 as against 15.4% in same quarter last year.
On full year basis, the company's net profit climbed 29.78% to Rs 200.47 crore on 4.72% rise in net sales to Rs 2,914.06 crore in FY24 over FY23.
Ramesh Kumar Dua, chairman and managing director, said, “We have achieved a moderate increase in revenue for FY24, with a notable improvement in profitability. This performance was largely driven by a significant uptick in open-footwear volumes, a testament to the efficacy of our strategic initiatives to regain market share. During the quarter, the company has implemented quality control orders as issued by the Bureau of Indian Standards (BIS) and now all our products are ISI marked.
We are also expanding our e- commerce operations by directly selling to consumers using ‘Brand as a Seller’ model on all major e-commerce platforms. These initiatives will help the company to improve our market connect and have a positive impact on growth.”
Meanwhile, the board has recommended a final dividend of Rs 3 per equity share for FY23-24.
Relaxo Footwears is engaged in production of Hawaii slippers, light weight slippers, canvas shoes, PVC footwear etc.
The scrip rose 0.98% to currently trade at Rs 851.70 on the BSE.
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