Bata India slips after weak Q4 results

Bata India fell 0.80% to Rs 1,282.55 at 9:28 IST on BSE after net profit fell 33.76% to Rs 34.94 crore on 3.1% decline in total income to Rs 544.72 crore in Q4 December 2014 over Q4 December 2013.

The result was announced after market hours yesterday, 11 February 2015.

Meanwhile, the BSE Sensex was up 38.54 points, or 0.14%, to 28,572.51.

On BSE, so far 15,000 shares were traded in the counter, compared with an average volume of 18,130 shares in the past one quarter.

The stock hit a high of Rs 1,285 and a low of Rs 1,242.35 so far during the day. The stock hit a record high of Rs 1,495 on 22 January 2015. The stock hit a 52-week low of Rs 990 on 13 February 2014.

The stock had underperformed the market over the past one month till 11 February 2015, falling 4.97% compared with 3.92% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 3.28% as against Sensex's 2.24% rise.

The mid-cap company has an equity capital of Rs 64.26 crore. Face value per share is Rs 10.

Bata India's board of directors at its meeting held yesterday, 11 February 2015, noted that Way Finders Brands (WFBL) has become a wholly owned subsidiary of Bata India with effect from 10 February 2015. The entire share capital of Rs 10 lakh of WFBL is held by the company and its nominees, Bata India said.

Rajeev Gopalakrishnan, Group Managing Director, Bata Emerging Markets, Bata India said that the company's Q4 performance was affected by teething problems relating to introduction of new supply chain IT systems. Issues have now been addressed and resupplies have resumed. The company continues to invest behind various activities like new channels and stores to address the growing consumer demand & preferences, Rajeev Gopalakrishnan said. The last quarter saw an opening of more than 50 stores and the company has an aggressive plan of expanding our retail presence across the country in 2015, he added.

Bata India is the largest footwear retailer in India, enjoying a large market share in the organized sector. It retails through over 1400 Bata Shoe stores located in over 500 cities across India.

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