Company Update - Bata India - ICICI Direct

Bata India witnessed a revenue recovery rate (adjusted) reaching 80% in Q4FY21 vs. 74% in Q3FY21. Lower revenues from formal & fashion footwear continued to impact gross margin YoY though QoQ gross margins witnessed an improvement. Revenue fell 5% YoY to Rs. 589.9 crore in Q4FY21. Aligning with the current demand scenario, Bata tweaked its product portfolio from formals & fashion categories to casuals, fitness & essential categories. Gross margins contracted ~570 bps YoY to 53.1% mainly owing to unfavourable product mix. Cost control measures led to lower other expenses. Subsequently, EBITDA margins declined 340 bps YoY to 19%. Absolute EBITDA declined 19% YoY to Rs. 112 crore. Ensuing PAT came in at Rs. 29 crore (down 22%).

For details, click on the link below: Link to the report

Shares of BATA INDIA LTD. was last trading in BSE at Rs.1626 as compared to the previous close of Rs. 1630.25. The total number of shares traded during the day was 9597 in over 1187 trades.

The stock hit an intraday high of Rs. 1634.5 and intraday low of 1620.05. The net turnover during the day was Rs. 15602207.

Source : Equity Bulls

Keywords