Bata witnessed its highest ever Ebidta (earnings before interest, tax, depreciation and amortisation) margin of 21 per cent in Q3
In Q3, net revenues grew 15.5 per cent year-on-year (YoY) to Rs 778.7 crore, against expectations of Rs 743 crore
Street backs premium valuation given firm's earnings potential
Bata India, Liberty Shoes, Relaxo Footwear, Superhouse and Khadim India were up 1% to 8% on the BSE
Store expansion plans in tier-2, 3 towns will aid top line, margins
On a standalone basis, net profit grew 28.2 per cent to Rs 71.37 crore.
With festival season round-the-corner, companies are hoping for a pick-up in the overall consumption, which along with the cut in corporation tax, would aid earnings growth over the next few quarters
Here is the weekly technical view on Nifty and stock recommendation by Prabhudas Lilladher
In the last fiscal year, the company sold 47.25 million pairs which helped it retain market leadership
Bata India's stock trades at 15% premium to its historic valuation
Bata India CEO believes that the company's focus on the millennial consumer has helped
Linde India up 10% to Rs 759, surging 56% since November 7, after the promoter BOC Group has offered to take full ownership of the company and delist the firm from the country bourses.
The gains will not only come from the GST cut but also from the company's efforts to add new and revamped products, which would aid overall top line growth
The stock hit a new high of Rs 1,135, up 3% on the BSE in intra-day trade on Friday in otherwise weak market, surpassing its previous high of Rs 1,128 recorded on Wednesday.
In 2017-18, Bata India added over 100 new retail stores, 31 franchise stores and renovated more than 90 stores across India
In order to expand its presence in the e-commerce space, the company also listed its products on high traffic-generating websites
The stock rallied 5% to Rs 817, trading close to its record high of Rs 833 touched on November 1, 2017 in intra-day trade
Store-level inventory management issues benefiting peers but firm's profitability expected to keep improving
Revival in revenue growth, margin expansion keeping analysts positive
The Securities and Exchange Board of India (Sebi) asked Bata India to probe the leak of its December 2015 quarter earnings on social media platform WhatsApp. A preliminary examination by Sebi showed the financial numbers, including sales and profits, circulated through WhatsApp posts closely matched the actual results.Sebi has directed Bata to "conduct an internal inquiry into the leakage of unpublished price-sensitive information (UPSI) relating to its financial results and take appropriate action against those responsible". It has given three months to the footwear maker for completing the probe.Sebi has also the company to strengthen its processes, systems and controls to ensure "such instances of leakage of UPSI do not recur in future".In its reply to Sebi, Bata India had submitted it had "received confirmation" from employees and auditors involved result finalization process that "they did not discuss" the results with any person outside the company."Sebi in the recent past has .