Mass segment slowdown to keep Bata India's stock under pressure

The premiumisation efforts seem to be working with the share of the same in the overall portfolio improving to 34 per cent as compared to 30 per cent a couple of years earlier

The Bata India stock has been the top loser among larger listed players in the footwear segment, falling 12 per cent over the past three months.

The company’s muted performance in the first half of FY24 continued in the December quarter. Given the sluggish performance in the previous three quarters, the brokerages have trimmed their earnings estimates for FY24 and FY25 by 14 to 21 per cent.

The footwear major's revenues were flat in the October-December quarter (Q3 FY24) as compared to the year-ago period on the back of the single-digit volume fall.
 

This was on the back of a slowdown in