Relaxo Footwears delivered a reasonably positive Q1

Relaxo Footwears delivered a reasonably positive Q1 FY27, with revenue from operations rising 7.7% YoY to ₹705 crore and PAT increasing 12.4% to ₹54.9 crore. Operating profit rose 13.8% to ₹68 crore, showing that profit growth was slightly ahead of revenue growth. The positive factor is improving profitability despite elevated raw-material costs. Relaxo continues to focus on its core brands such as Sparx, Flite and Relaxo, while expanding its exclusive brand outlet network; management is targeting roughly 500 EBOs by the end of FY27. This could improve direct consumer reach and support premium-product sales. However, the quarter was not completely strong. Revenue and profit declined sequentially from Q4 FY26, with PAT falling 18.8% QoQ. Higher selling/general expenses and raw-material costs remain important monitorables, while the footwear industry continues to face intense competition from Bata, Campus, Metro Brands, sports brands and online channels.