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Journey of Rs 1 lakh to Rs 1.70 crores in ten years !! Did you catch this Multi-bagger stock?

 This stock has given massive returns to investors during the last ten years. The footwear firm has raised nearly 16,700%, from Rs 2.5 per share (2009) to Rs 425 per share now. If you had invested Rs 1 lakh into the stock ten years ago then the investment would be worth Rs 1.70 crore today. The smallcap stock gained nearly 11% in last one year and 13% in 2019, with its 52 week high of Rs 497 on 2nd july, 2019 and its 52 week low of Rs 333 on 12th oct 2018.

Can you guess about what stock we are talking about ? Its RELAXO FOOTWEARS.

Compare to its peers, the company has proved to be a multi-bagger and the top gainer in the industry. Bata generated 1684% in last ten years, while Liberty shoes clocked 65% returns during the same period. RELAXO has shown 8 consecutive quaters of double-digit volume growth despite challenging situation. The company has witnessed a constant rise in its sales over the last ten years. Sales rose Rs 2,292 crores for fiscalending March 2019 compare to Rs 407 crores for the fiscal ended March 2009. For Q4, net profit of RELAXO FOOTWEARS rose 1.78% to Rs 54 crores YoY. Net sale rose 15.51% to Rs 635 crores in Q4 March 2019 YoY.

The last bonus issue that RELAXO FOOTWEARS announced was in 2015 in the ratio of 1:1. The share has been quoting ex-bonus from 1st July 2015.The bonus issue was announced on 11th May 2015. Relaxo footwears limited (RWL), a part o fRelaxo group which has a major interest in footwear production, was incorporated on 13th Sept 1984, as a private limited company to market the products of group concerns such as Hawai slippers, light weight slippers, canvas shoes and PVC footwears.

JM Financial recently initiated coverage on Relaxo Footwears with a 'buy' rating as its premium valuations are marited for stable growth, expansion in new territories coupled with strong brand equity.

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