On a consolidated basis, the footwear maker's net profit dropped 23.28% to Rs 29.47 crore on 4.94% decline in revenue from operations to Rs 589.90 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax (PBT) skid 30.59% to Rs 40.38 crore in Q4 FY21 as against Rs 58.18 crore in Q4 FY20.
During the financial year, Bata India's consolidated net loss stood at Rs 89.31 crore in FY21 compared with net profit of Rs 328.95 crore in FY20. Revenue from operations tanked 44.09% to Rs 1,708.48 crore in FY21 over FY20.
Bata India has strengthened its ecommerce and omni-channel facilities to cover more pin codes across India. With the second wave forcing people to stay safe indoors, Bata India will continue to serve its customers at their doorstep via multiple channels - www.bata.in, marketplaces, Home delivery, Bata Store-on-Wheel mobile kiosk activation in residential areas and Bata ChatShop WhatsApp shopping with same day delivery promise from nearby stores. The footwear major also continued expanding retail network in tier 3-5 towns via franchisee route by opening 10 new franchisee stores and appointing new distributors to serve multi-brand stores.
Sandeep Kataria, the chief executive officer (CEO) of Bata India, said: "The Q4 results are satisfactory for us, considering Q3 sales have historically been always better because of festive season. We continued our march towards recovery via our channel expansion efforts via franchising, distribution and marketplaces routes. As the economy gained pace and offices started re-opening, we rolled out our first campaign of the year showcasing 'Relaxed Workwear' collection offering the best of comfort technologies across Bata, Hush Puppies, Bata Red Label, Comfit & Naturalizer brands."
"With omni-channel customer generating more revenue than a single-channel customer, we scaled up our tech-related solutions & investments to engage & offer better experiences and driving up cross-channel purchases, customer service & retention. With the surge in COVID-19 cases in wave 2, we refocused to make Essentials & Fitness Sneakers available to our customers, as consumers stayed back in their homes. I am confident that the collective resilience across the country will see the nation through this trying phase also and would like to urge everyone to register for vaccination as it is our strongest shield against the virus."
The company said it has adequate cash reserves and is curbing discretionary expenses to eliminate redundancies and introduce efficiencies in its value chain. Bata India remains hopeful that with the roll-out of vaccines for everyone above 18 years, business would start growing back.
The board has recommended a dividend of Rs 4 per equity share for the financial year ended 31 March 2021.
Meanwhile, the board has intimated that R. K. Gupta would retire at end of business hours on 30 June 2021, upon completion of his tenure of services with the company, from his position as Director Finance and CFO (KMP). The board has also, approved the appointment of Vidhya Srinivasan as a director finance and CFO (KMP) (whole-time director) of Bata India, liable to retire by rotation, for a period of five consecutive years with immediate effect.
Bata India is the largest footwear retailer in India, offering footwear, accessories and bags across brands such as Bata, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubblegummers, to name a few. It retails in more than 1600 Bata own and franchisee stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.
Shares of Bata India rose 4.55% to Rs 1,628.55 on BSE. The stock hit an intraday low of Rs 1,540 and an intraday high of Rs 1,632.90 so far.
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