RELAXO

** Indian footwear stocks jump as Finance Minister Nirmala Sitharaman announces new policy to support domestic leather industry, footwear sector

** Bata India BATA.NS and Metro Brands METB.NS rise 2.2% and 1.8% respectively; Liberty Shoes LIBS.NS jump 6.5%

** Relaxo Footwear RLXO.NS climbs 6%, Khadim India KHAD.NS and Campus Activewear CAMU.NS advance 2.5% and 5.2% respectively

** Sitharaman says policy measures expected to generate employment for 2.2 mln people, achieve revenue of 400 bln rupees

(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru)

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Jan 31 (Reuters) - Relaxo Footwears Ltd RLXO.NS:

• RELAXO FOOTWEARS DEC-QUARTER PROFIT 330.1 MILLION RUPEES

• RELAXO FOOTWEARS DEC-QUARTER REVENUE FROM OPERATIONS 6.67 BILLION RUPEES

Further company coverage: RLXO.NS

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** Shares of India's Relaxo Footwears RLXO.NS shed 4.3% to 737.5 rupees

** Co, which makes shoes and slippers, reported 17% y/y drop in Q2 PAT and 5% slide in rev from ops

** Trading vols ~71k vs 30-day avg of 53k

** Session's drop takes YTD declines to 18.4%

(Reporting by Hritam Mukherjee in Bengaluru)

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Nov 8 (Reuters) - Relaxo Footwears Ltd RLXO.NS:

• SEPT-QUARTER PROFIT 367.3 MILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 6.79 BILLION RUPEES

Source text: ID:nBSE2pYh6R

Further company coverage: RLXO.NS

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** Shares of Relaxo Footwears RLXO.NS fall 2% to 850.80 rupees

** Footwear retailer's Q1 profit fell 2.3%; rev from ops grew 1.3%

** Mean rating of 12 analysts is "hold"; median PT is 810 rupees - LSEG data

** Stock loses ~6% YTD, set for third straight annual decline

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Metro Brands METB.NS rise as much as 4.9% to 1,198.9 rupees, highest since March 22

** Footwear retailer beats Q4 profit estimates and reports a more than two-fold rise in profit on strong premium footwear demand

** Rev from ops up 7% Y/Y

** Fifteen analysts covering the stock on avg have a "hold" rating; median PT is 1,226 rupees - LSEG data

** Stock has gained 9% so far in May, vs a 0.4% and 0.5% dip, respectively, in rivals Bata India BATA.NS and Relaxo Footwear RLXO.NS

(Reporting by Ashna Teresa Britto in Bengaluru)

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May 9 (Reuters) - Relaxo Footwears Ltd RLXO.NS:

• RELAXO FOOTWEARS LTD MARCH-QUARTER PROFIT 613.9 MILLION RUPEES VERSUS 633 MILLION RUPEES

• RELAXO FOOTWEARS LTD MARCH-QUARTER REVENUE FROM OPERATIONS 7.47 BILLION RUPEES VERSUS 7.65 BILLION RUPEES

Source text for Eikon: ID:nBSE35HVht

Further company coverage: RLXO.NS

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BENGALURU, Jan 18 (Reuters) - India's Metro Brands METB.NS, which sells shoes from brands including Fila, Crocs and Mochi, reported its fourth straight drop in quarterly profit on Thursday, hurt by high inventory costs amid slowing sales growth.

The company's net profit fell 12.6% to 978.1 million rupees ($11.8 million) in the October-December quarter, missing analysts' estimate of 1.22 billion rupees, as per LSEG data.

The footwear retailer's inventory-related costs -- which account for about 60% of its total costs since it does not manufacture its own products -- have been steadily increasing for most of the year.

They rose 5% in the December quarter and, along with higher employee and finance costs, pushed total expenses up about 12%.

Metro Brands is the first among listed Indian footwear retailers, including Bata India BATA.NS and Relaxo Footwears RLXO.NS, to report its results.

Its revenue rose 6% to 6.36 billion rupees in the quarter, logging its slowest growth rate since the company went public in late 2021. Metro did not give details on its sales for the period.

The company opened 31 new stores in the quarter, bringing the net stores added this fiscal year to 87.

Metro Brands, recently struck a deal to operate Foot Locker FL.N stores in India, giving it access to brands such as Nike NKE.N and Adidas ADSGn.DE in a move that analysts say will further propel its growth.

Metro Brands' stock price has fallen 8.7% since that deal was announced. Shares closed up lower at about 1% ahead of the results.

($1 = 83.1060 Indian rupees)

(Reporting by Navamya Ganesh Acharya and Varun Vyas in Bengaluru; Editing by Savio D'Souza)

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** Kotak Institutional Equities begins coverage of footwear retailer Metro Brands METB.NS with "reduce" rating and fair value of 1,250 rupees, 7.4% lower than current price of 1,349.4 rupees

** "While there is a lot to like, stock is fully priced" - Kotak

** Says METB's average selling price of 1,450 rupees is highest among listed players

** Expects compound annual growth rate of 18% in revenue from FY23-FY26; says store network expansion is the primary growth driver

** Mean rating of 15 analysts is "hold;" median PT is 1,231 rupees - LSEG data

** METB stock up 2.7%, taking YTD gain to 52.7%; rivals Bata India BATA.NS and Relaxo Footwear RLXO.NS up 1.2% and 0.3% this year

(Reporting by Varun Vyas)

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Dec 11 (Reuters) - Relaxo Footwears Ltd RLXO.NS:

• DECLARED AS SUCCESSFUL BIDDER IN BIDDING PROCESS HELD THROUGH AN E-AUCTION PLATFORM

• AUCTION FOR PURCHASE OF LAND PARCEL OF ABOUT 30 ACRES SITUATED IN RAJASTHAN

• COST OF ACQUISITION OF LAND PARCEL AT ABOUT 1.35 BILLION RUPEES

• LAND PARCEL AUCTIONED BY INDUSIND BANK

Source text for Eikon: ID:nBSE8GB8c9

Further company coverage: RLXO.NS

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** Shares of Relaxo Footwear RLXO.NS up 2.2% at 906.80 rupees

** Mirae Asset Capital Markets initiates "buy" with PT of 1,067 rupees; sees 20% upside in stock

** Softening raw material prices and Relaxo's product capability coupled with demand revival can lead to market share gains for co in next few quarters, brokerage says

** Analysts at Mirae Asset expect Relaxo's revenue to grow at 17.2% over FY23-26

** India’s 70% of footwear pyramid is priced below 1,000 rupees providing huge growth potential given Relaxo's wide reach, strong manufacturing base, brokerage adds

** Average rating of 12 analysts is equivalent of "hold", median PT of 883.5 rupees - 2.5% lower than its current price - LSEG data

** Stock down ~0.5% YTD; it had fallen more than 30% in 2022

(Reporitng by Nishit Navin in Bengaluru)

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BENGALURU, Nov 8 (Reuters) - Bata India BATA.NS reported a 38% fall in second-quarter profit on Wednesday, hurt by a one-time charge and as inflationary pressures kept footfalls at its shoe outlets in check.

The footwear maker said its consolidated profit fell to 339.9 million rupees ($4.1 million) in the July-September quarter, from 548.2 million rupees in the year-ago quarter.

The latest quarter's results included a 409 million rupees charge related to a voluntary retirement scheme at one of its manufacturing units.

Bata India's revenue slipped 1.3% during the quarter.

Indian businesses grappled with lower footfall in the quarter as higher inflation pushed consumers to tighten their belts, particularly on non-essential spending.

While India's retail inflation has eased of late, it still remains uncomfortably high.

However Relaxo Footwear RLXO.NS posted a 97.3% surge in profit earlier in November, backed by strong demand. Khadim India KHAD.NS and Campus Activewear CAMU.NS will announce their results later this month.

Shares in Bata, a unit of its Netherlands-based namesake parent, closed up 1.2% ahead of its results.

($1 = 83.2673 Indian rupees)

(Reporting by Ashna Teresa Britto and Indranil Sarkar in Bengaluru; Editing by Savio D'Souza)

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BENGALURU, Nov 1 (Reuters) - India's Relaxo Footwears RLXO.NS reported a 97.3% surge in second-quarter profit on Wednesday, helped by strong demand for its shoes and slippers even as its expenses climbed.

The company, which makes the Sparx sports shoes, reported a profit of 441.9 million rupees ($5.31 million) in the quarter ended Sept. 30, up from 224 million rupees a year earlier.

Revenue from operations climbed 6.8% to 7.15 billion rupees, according to an exchange filing. Its expenses rose 3.2% to 6.65 billion rupees, led by a 2.6% increase in raw material costs.

The growth in topline came after the demand for its branded products remained strong despite prices being hiked to cushion the impact of higher costs.

Shares of Relaxo Footwear jumped as much as 6.7% to 957.90 rupees, their highest level since Aug. 14, with heavy trading volume. They were down 0.9% in the July-September quarter.

Peer Bata India BATA.NS will report its results next week.

($1 = 83.2518 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; editing by Eileen Soreng)

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BENGALURU, Aug 9 (Reuters) - Footwear maker Bata India BATA.NS reported its first drop in profit in eight quarters on Wednesday, as soft demand dragged its revenue growth to a nine-quarter low.

The company's consolidated profit fell 10.5% to 1.07 billion Indian rupees ($12.92 million) in the April-June quarter, while revenue from operations increased just 1.6% to 9.58 billion rupees.

That was the slowest revenue growth since the March-quarter of 2021 as the company, which is better known for its formal shoes, grapples with a growing consumer preference for casual wear.

Bata has lagged its peers due to a slow pace of innovation and ebbing brand pull, while its lower-price products have grown at a slower pace, brokerage Ambit Capital had said in a note in May.

As a result, say analysts, it has struggled with high inventory, which forced it into an early end-of-season sale.

Compounding its problems, Bata's expenses increased 4.5% in the quarter, while inventory costs spiked to 3.83 billion rupees.

Relaxo Footwears RLXO.NS, which owns the Sparx sports shoe brand, had hiked prices to counter the increased costs, which helped it post an increase in profit last quarter.

Bata's peers Khadim India KHAD.NS and Campus Activewear CAMU.NS will announce their results later this month.

Shares of Bata, a unit of its Netherlands-based namesake parent, closed 3.2% lower ahead of the results.

That cut its gains for the year to 3.1%, which is still more than its peers. Relaxo's shares have inched up 1.6%, while Khadim has dipped 0.5% and Campus Activewear has slumped about 30%.

($1 = 82.8270 Indian rupees)

(Reporting by Biplob Kumar Das in Bengaluru; Editing by Savio D'Souza)

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Aug 7 (Reuters) - Relaxo Footwears Ltd RLXO.NS:

• ADDITIONAL CAPACITY COMMISSIONED AT BHIWADI UNIT

• CO’S TOTAL PRODUCTION CAPACITY IS 10.50 LACS PAIRS PER DAY

Source text for Eikon: ID:nBSE5X7vR6

Further company coverage: RLXO.NS

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July 24 (Reuters) - Relaxo Footwears Ltd RLXO.NS:

• JUNE-QUARTER PROFIT 563.2 MILLION RUPEES VERSUS 386.7 MILLION RUPEES

• JUNE-QUARTER REVENUE FROM OPERATIONS 7.39 BILLION RUPEES VERSUS 6.67 BILLION RUPEES

Source text for Eikon: ID:nBSE8bkcsl

Further company coverage: RLXO.NS

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BENGALURU, May 18 (Reuters) - Footwear maker Bata India Ltd BATA.NS reported a better-than-expected quarterly profit on Thursday as raw material costs softened and demand for brands such as Hush Puppies and Comfit rose.

Consolidated profit at the Netherlands-based Bata BN's flagship rose to 656.23 million rupees ($8.02 million) in the three months ended March 31, from 629.6 million rupees a year ago.

Analysts on average had expected the company to post a profit of 614.6 million rupees.

Bata's consolidated revenue from operations increased 17% to 7.79 billion rupees as fourth-quarter demand was also boosted by robust growth in its Hush Puppies, Comfit, Floatz, Red Label and North Star brands.

The company said in a statement that it had refreshed its portfolio to offer premium products under these brands.

"During the last few quarters, we are witnessing consistent demand for casual and comfortable footwear. This is due to increasing trend for purchase of non-occasion wear and demand for comfort and style," Bata Chief Executive Officer and Managing Director Gunjan Shah said in a statement.

Strong demand for shoes and slippers also helped bigger rival Relaxo Footwears Ltd RLXO.NS report a 9.6% jump in its quarterly profit last week.

Separately, Gurugram-based Bata recommended a dividend of 13.5 rupees per share.

Bata's shares closed 0.43% lower ahead of results.

($1 = 81.7800 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Pooja Desai)

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** Shares of Relaxo Footwears Ltd RLXO.NS rise as much as 4.27% to a four-month high of 906 rupees

** The footwear maker's stock jumped over 3% on Wednesday after the company reported nearly 10% rise in March quarter revenue and marginal growth in net profit, aided by steady demand

** RLXO also announces dividend of 2.50 rupees per share

** The relative strength index of stock is 75, suggesting it may be overbought

** Stock is most active in over three weeks, with trading volume of 381,347 shares as of 12:53 p.m. IST, thrice the 30-day avg - Refinitiv data

** Of 13 analysts tracking RLXO, four maintain "buy", three suggest "sell" and six recommend "hold"; median TP is 876 rupees

($1 = 81.7800 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of Relaxo Footwears Ltd RLXO.NS rise as much as 4.4% to 880 rupees, highest since Jan 19

** Slippers maker's March-qtr profit rises 0.5%, aided by an 18.5% fall in input costs

** Co's revenue from operations rose 9.5%

** Average rating of 13 analysts covering stock close to equivalent of 'hold'; median PT at 876 rupees

** Up to last close, stock was down ~7% so far this year

(Reporting by Biplob Kumar Das in Bengaluru)

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