Relaxo Footwears Ltd reported steady profitability for the second quarter ended September 2025 (Q2FY26), even as revenue declined amid weak demand in mass-market segments and customers delaying purchases due to the rollout of GST 2.0 norms.

The domestic footwear major’s revenue fell 7.5% year-on-year (YoY) to ₹629 crore, compared with ₹679 crore in Q2 FY25. EBITDA stood at ₹81 crore, down from ₹88 crore a year ago, but the EBITDA margin remained stable at 12.9%, supported by disciplined cost control and operational efficiencies.

Profit after tax (PAT) came in at ₹36 crore, with the PAT margin improving by 34 basis points to 5.8%. Relaxo said demand has started to recover following the implementation of GST 2.0.

Demand revival expected post-GST 2.0 implementation

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