Page 3 - Bata India

Bata India Q1 results: Net profit jumps 63% to Rs 174 cr, revenue dips 1.4%

Shoemaker Bata India Ltd on Tuesday reported an increase of 62.84 per cent in its consolidated net profit at Rs 174.36 crore in the first quarter ended June 2024, helped by margin expansion and gains from sale of industrial land. It had posted a net profit of Rs 106.89 crore in the April-June period a year ago, according to a regulatory filing from Bata India. However, its revenue from operations was down 1.41 per cent to Rs 944.63 crore during the quarter under review. It was at Rs 958.14 crore in the corresponding period a year ago. "The results for the quarter demonstrate disciplined execution of our strategies on premiumisation, investment in marketing and technology, elevating the customer experience, by maintaining gross margins in the face of sluggish consumption momentum during the quarter," said an earnings statement from the company. Besides, Bata also had a one-time gain on the sale of property of Rs 134 crore in the June quarter. "The results for the quarter also ...

Gains for Bata hinge on recovery hopes, rising premium portfolio

Government policies to improve consumption especially in tier 2 and tier 3 centres could help improve demand for footwear majors such as Bata

Bata India share price rises 3% as management sees demand revival ahead

Bata stock's ascent followed optimistic remarks from management regarding the potential for demand recovery in the near future

Bata India, Lemon Tree Hotels, Nocil among seven stocks to watch on May 30

Stocks to watch on May 30: Lemon Tree Hotels profit surged by 42.3 per cent YoY to Rs 84 crore in comparison to Rs 59 crore

Bata Q4 results: Net profit declines 3% to Rs 63.65 cr as expenses surge

The company, which also sells brands such as Hush Puppies and North Star in India, said its consolidated profit fell to Rs 63.65 crore ($7.6 million)in the three months ended March 31

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

Bata Q3 results: Net profit falls 30% to Rs 58 cr, revenue at Rs 903 cr

Bata India's consolidated net profit declined by 30 per cent to Rs 58 crore in the December 2023 quarter against Rs 83 crore a year ago. Its revenue from operations was steady at Rs 903 crore despite muted market demand, thanks to growth in premium categories, the shoemaker said in a statement. Overall expenses for the quarter were higher at Rs 836 crore compared to Rs 798 crore in the corresponding period last year. The company in a statement attributed the decline in net margin to significant investments made in brand and technology during the quarter. Bata India expanded its network with 54 net new stores and franchise and COCO expansion, while also renovating 36 stores to enhance the brand experience during the quarter. "Despite persistent market headwinds accentuated in discretionary spending, we continued to invest in new product launches, enhancing customer experience, and expanding our reach across channels & markets," Gunjan Shah, MD and CEO of Bata India Limited, said.

Bata India receives Rs 60 crore notice from sales tax authorities

Footwear major Bata India has received a notice from the State Tax Officer, Anna Salai Assessment Circle, Chennai, amounting to Rs 60.56 crore, the company said in a filing to the bourses on Thursday. The notice dated December 27, 2023, pertains to several issues raised in a final audit report on December 25, for the 2018-19 financial year, according to the filing. The issues raised include differences in turnover on outward supplies in the monthly GST returns, differences in tax on outward supplies in the GSTR-9 & GSTR-9C returns, excess Input Tax Credit (ITC) availed, and ITC Reversal on credit note. The company said it initially received an audit notice on April 27, 2023, and submitted relevant documents in response. Bata India was given a personal hearing on January 10, 2024, to present its case and provide further information on the disputed issues, as per the filing. The company expressed confidence in its ability to defend the case before the authorities concerned. "It is

Stocks to Watch today: Zomato, KPI Energy, Banks, M&M, Bata, Kansai Nerolac

Stocks to watch on Thursday, December 28, 2023: Azad Engineering to list today. National Aluminium and RBL Bank only two stocks in futures & options ban period on expiry day.

Bata steps up to take on global moulded footwear and sneaker brands

Bata is pushing its Floatz product line to grab a share of the moulded footwear market but at a lower price than Crocs and Birkenstock

Bata India Q2 results: Net profit falls 38% to Rs 34 cr, revenue down 1%

Leading shoemaker Bata India Ltd on Wednesday reported a decline of 37.77 per cent in its consolidated net profit at Rs 34 crore in the second quarter ended September 2023, citing exceptional items in its balance sheet. It had posted a net profit of Rs 54.62 crore in the July-September period a year ago, according to a regulatory filing from Bata India. Bata India's profit before tax and exceptional items stood at Rs 87 crore in the second quarter of this fiscal, helped by "consistent efficiency improvements across operations", the company said in an earnings statement. Its revenue from operations was down 1.28 per cent to Rs 819.11 crore during the quarter in comparison to Rs 829.75 crore in the corresponding period a year ago. Total expenses of Bata India in the September quarter was at Rs 747.61 crore, down 5.31 per cent. Under exceptional expenses, Bata India spent Rs 40.90 crore on the voluntary retirement scheme (VRS) at its one manufacturing unit during the quarter. Bata I

Bata to sell Nine West shoes, accessories in its retail stores across India

Bata India on Monday said it will sell shoes and accessories of US-based lifestyle brand Nine West through its retail stores. The company's board has "approved licensing and manufacturing deal with Authentic Brands Group for their world-renowned lifestyle brand Nine West," according to a regulatory filing. "Under the arrangement, Bata India will have rights to manufacture, market and distribute Nine West shoes and accessories, across India through its stores," the filing said. Authentic Brands Group owns Nine West brand. It had acquired Nine West's US business after it filed for bankruptcy in 2018. Currently, Bata India has a portfolio of global brands including Power, North Star, Weinbrenner, Bata, Bata Red Label, Bata 3D, Hush Puppies, Naturalizer, and Bzees, for the Indian market. Bata India's revenue from operations stood at Rs 3,451.56 crore in 2022-23.

Asian Games 2022: Here are the companies helping Indian team dress up

Asian Games 2022: India's largest-ever contingent comprising 634 athletes will represent the country at the event that will take place from September 23 to October 8 in Hangzhou, China

Bata India to introduce VRS for worker at its Southcan Unit in Karnataka

Footwear company Bata India will introduce a voluntary retirement scheme for all eligible workers at its Southcan unit located in Karnataka, the company said on Thursday. "The Board of Directors of Bata India Limited has today, ie on August 31, 2023, considered and approved introduction of a Voluntary Retirement Scheme (VRS) for all eligible workmen at the Southcan Unit in the state of Karnataka," Bata India said in a regulatory filing. Bata India said that it believes that implementation of the VRS will be mutually beneficial to the workmen and the company. "Status of implementation of the aforesaid VRS and financial impact thereof will be ascertained and communicated in due course, as per the Company's Policy for Determination of Materiality of an Event or information," the filing said.

Moderation in demand is where the shoe pinches for footwear majors

Valuations factoring in second-half recovery are in the expensive zone

Bata India rallies 6% on report company in talks to tie-up with Adidas

The footwear company is in talks with German sportswear giant Adidas for a strategic partnership for the Indian market, a report said

Footwear maker Bata India in partnership talks with Adidas: Report

The retailer, which houses brands such as Hush Puppies and Scholl, is likely to tie up with Adidas for the Indian market, as per the report

Bata bolsters premium portfolio, aims 20% sales from online channels: CEO

With inflation cooling off, leading shoemaker Bata is bolstering the premium price points with fresh portfolios while it increases spending on advertising and promotions to connect with young digital-savvy consumers, according to company Managing Director and CEO Gunjan Shah. The company, as part of its sales strategy, is expanding its presence in both channels - physical stores and online - and expects e-commerce to contribute 20 per cent of its total sales in the next two to three years, he said. Bata is also pushing for offline sales and expects strong growth to come from its expansion under the franchise system, where it plans to add another 125 stores in FY24 and increase its presence at multi-brand outlet (MBO) channels. Though with the opening of offices and schools, sales of casual wear products have increased, Shah said the trend of casualization would continue in the long term and Bata is pursuing it by extending its mid-premium brands Hush Puppies and Red Label in the ...

Bata re-enters premium segment, eyes 20% sales from online channels

With inflation cooling off, leading shoemaker Bata is re-entering the premium price points with fresh portfolios while it increases spending on advertising and promotions to connect with young digital savvy consumers, according to company Managing Director and CEO Gunjan Shah. The company, as part of its sales strategy, is expanding its presence in both channels - physical stores and online - and expects e-commerce to contribute 20 per cent of its total sales in the next two to three years, he said. Bata is also pushing for offline sales growth and expects a major chunk of growth to come from its expansion under the franchise model, where it plans to add another 125 stores in FY24 and increase its presence at multi-brand outlets (MBOs). Though with the opening of offices and schools, sales of casual wear products have increased, Shah said the trend of casualization would continue in the long term and Bata is pursuing it by extending its mid-premium brands Hush Puppies and Red Label

Optimistic about company's future growth, says Bata India chairman

Footwear maker Bata India chairman Ashwini Windlass is optimistic about the company's future growth given the market outlook and said it is focusing on strategies to retain a high growth trajectory that includes expanding its distribution footprint. Bata India's net profit jumped to Rs 319 crore in 2022-23, up from Rs 100 crore in the previous year. Revenue for the year was Rs 3,451.5 crore, Windlass told shareholders at the company's 90th AGM. The company's retail sales accounted for 75 per cent of its revenue and non-retail the remaining 25 per cent, while R&D expenses during 2022-23 were over Rs 6 crore, he said. The company will invest about Rs 100 crore during the year and will focus on 'casualisation' and 'premiumisation'. It will expand in the multiformat, besides in digital footprint and agile supply chain, he said. Windlass said Bata India wants shorter lifecycles of products tracking the latest fashion and non-footwear is a focus area. Bata India has recently started ..