Redtape Adjusts Valuation Grade, Highlighting Competitive Position in Footwear Sector

Redtape, a midcap player in the footwear industry, has recently undergone a valuation adjustment, reflecting its current financial standing. The company's price-to-earnings (P/E) ratio stands at 49.01, while its price-to-book value is recorded at 11.83. Additionally, Redtape's enterprise value to EBITDA ratio is 26.51, and its enterprise value to EBIT is 34.37. The company also showcases a return on capital employed (ROCE) of 18.04% and a return on equity (ROE) of 22.39%.
In comparison to its peers, Redtape's valuation metrics indicate a notable position within the footwear sector. For instance, V-Guard Industries and Campus Activewear are categorized differently, with P/E ratios of 53.34 and 70.13, respectively. Bata India and Relaxo Footwear also present higher P/E ratios, at 65.76 and 64.49. This context highlights Redtape's competitive stance, particularly in relation to its peers, as it navigates the dynamic market landscape.

Overall, the evaluation revision underscores the company's financial metrics and market position, providing insight into its performance relative to industry counterparts.