Relaxo footwear- good times ahead for the price action

12 May 2018

support to the bearish divergence


point and figure chart link
drive.google.com/file/d/1lnvbJoY772DUv1mN5yBRMeAkoqThqhcn/view?usp=sharing
Disclaimer... not invested, interested, just began to research the business after noting this reaccumualtion
Not an investing/trading recommendation

12 May 2018

Not

the annual results are just lovely..!
operational topline growth yoy= 19%
finance cost slashed down by 42%, as it is , there isnt much of debt
total borrowings of 125.35cr vs ebit of 243.62cr.. practically nothing..
the noncurrent asset has been increasing by 10.5% whine the non current liabilities has been reduced by 29% ...
trade receivable is 10.5% more than the trade payable at the book closure
More than 2x i the capital work in progress compared to the previous year, while the inventory is on the same level as is maintained as usual..
A robust 34% growth in earnings this year....
Something definitely has been happening in the business demand situation..
with implementation of the GST, definitely the organized players have a favor, but the effects of gst is too soon to be seen in the effect sheet ... warrants a deeper digging and finding some cheaper peers, too..