Relaxo footwears Limited has announced the cancellation of 2,200 stock options under its Employee Stock Option Plan 2014, following regulatory disclosure requirements. The decision was made by the company's Nomination and Remuneration Committee during its meeting held on January 30, 2026.

Stock Option Cancellation Details

The cancelled options were part of the second phase of RFL Employee Stock Option Plan 2014 and were granted to a single employee. According to the company's disclosure, these stock options had already vested but remained unexercised by the employee within the prescribed period, leading to their automatic lapse under the plan's terms and conditions.

Regulatory Compliance

The cancellation was disclosed to both BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Ankit Jain, Company Secretary and Compliance Officer, ensuring proper adherence to regulatory requirements.

ESOP Plan Framework

The Employee Stock Option Plan 2014 operates under specific guidelines that govern the vesting and exercise periods for granted options. When employees fail to exercise their vested options within the stipulated timeframe, the options automatically lapse according to the plan's provisions. This mechanism ensures proper management of the company's equity compensation structure while maintaining compliance with established protocols.

Relaxo Footwears Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing a mixed performance with revenue growth offset by margin pressures. The leading footwear manufacturer demonstrated resilience in top-line growth while facing challenges in maintaining profitability levels.

Financial Performance Overview

The company's quarterly performance showed marginal improvement in revenue but significant pressure on profitability metrics. Total income for Q3FY26 reached ₹678.99 crore, representing a modest growth of 0.79% compared to ₹673.70 crore in the corresponding quarter of the previous year. The latest data shows EBITDA at 690 million rupees compared to 780 million rupees in the previous year, with EBITDA margin compressing to 10.33% from 11.69%.

Nine-Month Performance Analysis

For the nine-month period ending December 31, 2025, the company faced headwinds with revenue from operations declining 6.85% to ₹1,951.06 crore compared to ₹2,094.46 crore in the previous year. Despite the revenue decline, the company managed to maintain relatively stable margins.

Operational Metrics and Cost Structure

The company's cost structure showed mixed trends during the quarter. Employee benefits expense increased to ₹110.24 crore from ₹96.00 crore in Q3FY25, reflecting the company's continued investment in human resources. Other expenses remained relatively stable at ₹204.75 crore compared to ₹201.42 crore in the previous year.

Total operating expenses for Q3FY26 stood at ₹598.64 crore, representing a 2.59% increase from ₹583.51 crore in Q3FY25. The company maintained its finance costs at manageable levels, with quarterly finance costs at ₹5.29 crore compared to ₹5.38 crore in the previous year.

Balance Sheet Strength

The company's financial position remained robust with total assets of ₹2,870.15 crore as of H1FY26, compared to ₹2,762.47 crore in FY25. The equity base strengthened to ₹2,109.49 crore from ₹2,098.07 crore, reflecting the company's solid financial foundation.

Market Position and Distribution Network

Relaxo Footwears continues to maintain its strong market position with an extensive distribution network comprising approximately 550 active pan-India distributors, over 70,000 retailers and multi-brand outlets, and 412 exclusive brand outlets. The company exports to around 37 countries and operates an overseas office in Dubai, demonstrating its global reach in the footwear industry.