Raw material prices hit by surge in crude: Relaxo Footwear

Raw material prices have been impacted by the spike in crude oil price, said Ramesh Kumar Dua, managing director of Relaxo Footwear, on Wednesday.

In an interview to CNBC-TV-18, he said, “Things were stabilizing in December 2021, and some of the polymers were going down, but now because of Russia-Ukraine war crude oil started rising and rupee started weakening. So this will have an adverse impact on the prices.”

On growth, Dua said, “Things will stabilise by April-June quarter. All uncertainties will settle down and things will only grow.”