Relaxo Footwear's Q1 financial results show negative performance, highest net sales in 5 quarters.

Relaxo Footwear, a largecap company in the consumer durables industry, recently declared its financial results for the quarter ending June 2024. According to the data, the company has seen a negative financial performance with a score of -6, a significant decrease from the previous quarter's score of 2.

Despite this, there are some positive aspects to the company's performance. The net sales for the quarter were the highest in the last five quarters, at Rs 748.19 crore. This indicates a positive trend in the near term for the company's sales.

However, there are also some areas of concern for Relaxo Footwear. The Profit After Tax (PAT) for the quarter was Rs 44.37 crore, which is a decrease of 21.2% compared to the same quarter last year. The Profit Before Tax less Other Income (PBT) also saw a decline of 19.85% year on year. This indicates a very negative trend in the near term for the company's profits.

Another concerning factor is the Debtors Turnover Ratio, which is at its lowest in the last five half yearly periods at 8.15 times. This shows that the company's pace of settling its debtors has slowed down.

Based on these financial results, MarketsMOJO has given a 'Sell' call for Relaxo Footwear's stock. Investors should carefully consider these factors before making any investment decisions.