Relaxo Footwears has announced the immediate resignation of Chief Financial Officer Prince Jain from his position, effective from the closure of business hours on March 11, 2026. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Resignation Details

The resignation announcement provides comprehensive details about the leadership change:

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing both BSE Limited and National Stock Exchange of India about the resignation. Prince Jain served as both CFO and Key Managerial Personnel (KMP) of the company, making this a significant executive departure requiring immediate regulatory notification.

In his resignation letter, Prince Jain expressed gratitude for the company's support during his tenure and acknowledged the collaborative experience with colleagues and leadership. He extended wishes for Relaxo's continued success in the future.

Leadership Transition Impact

The immediate nature of the resignation means Relaxo Footwears will need to quickly address the CFO succession to ensure continuity in financial operations and reporting functions. The company's regulatory filing indicates the resignation has been accepted, with the departure formalized through proper documentation and statutory procedures.

The departure of a senior executive in the CFO role typically requires companies to implement interim arrangements while conducting the search for a permanent replacement to maintain operational stability.

Relaxo Footwears Limited has officially announced its unaudited financial results for the quarter and nine months ended December 31, 2025, following board approval on January 30, 2026. The board meeting, which commenced at 13:00 Hrs and concluded at 15:50 Hrs, approved the financial results that reveal a mixed performance with revenue growth offset by margin pressures.

Board Meeting Outcome and Regulatory Compliance

The Board of Directors approved and took on record the unaudited financial results along with the Limited Review Report issued by M/s Gupta & Dua, Chartered Accountants, the company's statutory auditors. The results have been prepared in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and are being uploaded on the company's website at relaxofootwear.com.

Q3FY26 Financial Performance

The company's quarterly performance showed marginal improvement in revenue but significant pressure on profitability metrics. Revenue from operations for Q3FY26 reached ₹668.03 crore, representing a modest growth of 0.17% compared to ₹666.90 crore in Q3FY25. Total income stood at ₹678.99 crore compared to ₹673.70 crore in the previous year.

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. Net profit for the nine-month period stood at ₹111.60 crore compared to ₹114.11 crore in the previous year, representing a decline of 2.20%.

Cost Structure and Operational Metrics

The company's cost structure showed mixed trends during the quarter. Employee benefits expense increased significantly to ₹110.24 crore from ₹96.00 crore in Q3FY25, reflecting a 14.83% increase. Cost of materials consumed stood at ₹229.54 crore compared to ₹227.08 crore in the previous year. Other expenses remained relatively stable at ₹204.75 crore compared to ₹201.42 crore in Q3FY25.

Regulatory Updates and Credit Rating

The company has assessed the impact of the Labour Codes notified by the Government of India on November 21, 2025, which consolidate 29 existing labour laws. The resulting increase in employee benefits expense amounting to ₹5.72 crore has been recognised in profit or loss in accordance with Ind AS 19. ICRA has reaffirmed the company's Long term rating at [ICRA] AA with Stable outlook and Short Term rating of [ICRA] A1+.

Corporate Structure and Compliance

The company operates as a single entity without any subsidiary, associate, or joint venture for the period ended December 31, 2025. Based on Ind AS 108 guidance, the company's business activities fall within a single operating segment of "Footwear and Related Products." The results were reviewed by the Audit Committee before board approval, with statutory auditors expressing an unmodified opinion on the limited review.