Page 5 - Footwear

Bata India dives after 2.8% promoter stake sale; stock down 8% in a week

On June 1, 2022, BATA (BN) B V, the promoter of Bata India, divested 3.6 million shares or 2.8 per cent stake of the footwear company for nearly Rs 613 crore through open market transactions.

Campus Activewear Q4 net profit up three-fold to Rs 39.6 crore

Campus Activewear Ltd on Tuesday reported over three-fold increase in its consolidated net profit at Rs 39.60 crore for the fourth quarter ended March 2022. The shoemaker, which was listed on BSE earlier this month, had posted a net profit of Rs 10.01 crore in the January-March quarter a year ago, said Campus Activewear Ltd in a regulatory filing. Its revenue from operation rose 28.07 per cent to Rs 352.33 crore against Rs 275.10 crore in the year-ago period. "Net profit during the quarter stood at Rs 39.61 croe, PAT (Profit After Tax) margins expanded by 760 basis points year-on-year to 11.2 per cent in Q4 FY22," said Campus Activewear in a post-earnings statement. The company's total expenses were at Rs 295.30 crore, up 31.05 per cent in Q4 FY22 compared to Rs 225.32 crore in Q4 FY21. For the entire fiscal ended March 2022, Campus Activewear's net profit was up over four-fold to Rs 124.41 crore. It had reported a net profit of Rs 26.86 crore in the previous fiscal. Its revenue

Relaxo Footwears slips 10% on weak March quarter results

In Q4FY22, EBITDA margin was down 596 bps to 15.9% due to steep increase in raw material prices and extra support to trade towards GST rate differential on inventory.

Decent debut for Campus Activewear; lists 22% higher against issue price

The stock opened at Rs 355, 22 per cent higher against issue price of Rs 292 on the BSE.

Puma, Nike footwear maker Hong Fu to invest Rs 1,000 cr in Tamil Nadu

20,000 jobs to be created, boost for footwear industry in state; Hong Fu has been manufacturing and selling sportswear since 2003

Leather, footwear exports to cross $6 billion in 2022-23: CLE

The industry is also urging the government to extend the Production Linked Incentive (PLI) Scheme to the sector.

GST, raw material costs pushed footwear prices by 20-50% in 1 yr: V Noushad

V Noushad urged the government to take steps to boost the local manufacturing of components, machines and designs in the non-leather category

Sole searching: Preference for smart casual footwear may outlast pandemic

As some things - like office attire and formal shoes - were pushed to the back of closets, stuff that spelled comfort quickly took their place

Metro Brands IPO subscribed 3.6 times last day on Institutional interest

The company had priced its Rs 1,367-crore IPO at Rs 485-500 a share; offer consisted of a fresh issue of Rs 295 cr and Rs 1,072 cr OFS

Footwear retailer Metro Brands subscribed 27% on Day 1 of issue

The Rs 1,367-crore IPO comprises a fresh issue of Rs 295 crore and an offer for sale of Rs 1,072 crore.

Footwear retailer Metro Brands IPO receives 27% subscription on first day

The company on Thursday raised more than Rs 410 crore from anchor investors

Jhunjhunwala-backed Metro Brands eyes pre-Covid margins as sales normalise

The footwear retailer has seen demand pick up across categories post the second wave of the pandemic

Multiple price hikes could impact demand of footwear companies, say experts

The increase in product prices are on account of higher input costs, GST hike

IPO-bound Metro Brands aims to utilise Rs 250 cr for store expansion

At present, the company has 586 stores in 134 cities spread across 29 states and union territories in India. Of these, 211 stores were opened in the last three years

D2C footwear brand Neeman's raises Rs 7 cr in debt from Stride Ventures

The sustainable footwear brand was founded two and a half years back and has sold 250,000 pairs of footwear since then.

Industry divided over 12% uniform GST rate on apparel and footwear

Large manufacturers and retailers are mostly happy as move addresses issue of inverted duty structure; some others see it as hurting small units, along with retailers and customers

12% uniform GST rate on apparel and footwear from Jan evokes mixed reaction

Experts hail move, section of clothing industry decries it saying only a small group within the sector had inverted duty structure

Footwear retailer Metro Brands files IPO papers with Sebi

Footwear retailer Metro Brands Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale. The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 250 crore and an offer-for-sale of 21,900,100 equity shares by selling shareholders, according to the draft red herring prospectus (DRHP). The company will consider a pre-IPO placement aggregating up to Rs 10 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds of the fresh issue will be used towards expenditure for opening new stores of the company, under the "Metro", "Mochi", "Walkway" and Crocs brands and for general corporate purposes. The company-backed by ace investor Rakesh Jhunjhunwala, is an Indian footwear retailer targeting the economy, mid and premium segments in the footwear market. It opened its first store under the Metro brand in Mumbai in 1955, and have since evolved into a one-stop shop for all footwear

Bata India to focus on expansion in small towns, online channels

This is part of the firm's efforts to save cash through enhanced productivity, cost-reduction and tight inventory management

Footwear, readymade garments likely to attract higher rates of GST

The fitment committee, which recommends rate changes to the Council, has proposed increasing the rate on footwear (less than Rs 1,000), readymade garments, and fabrics to 12% from 5% now