The company would utilise the surplus cash for expansion and upgrade 60 to 80 existing outlets, Chairman of Bata India P M Sinha told reporters after the company's annual general meeting here today.
Sinha said whether the company would adopt the franchisee model in opening the new outlets was yet to be decided. At present, out of the 1200 outlets of Bata, 143 are franchisee owned.
The cost of a new outlet would typically vary between Rs 1.5 crore to Rs two crore.
He said that the company has targetted the institutional business for raising sales.
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Sinha said that the company would manufacture specialised footwear for defence, para-military, hospitality, airlines, and mining.
He said that institutional sales would be a main revenue earner for the company.
The company was also looking for space at malls and other key locations.