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 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.
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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.
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The footwear company is in talks with German sportswear giant Adidas for a strategic partnership for the Indian market, a report said
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
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 ...
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
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 ..
Stocks to watch on August 10, 2023: Shares of rate sensitive sectors, such as auto, banks and real-estate will be in focus on Thursday as RBI announces its policy decision.
Bata has lagged its peers due to a slow pace of innovation and ebbing brand pull, while its lower-price products have grown at a slower pace, brokerage Ambit Capital had said in a note in May
The total income for Q1FY24 came in at Rs 971.42 crore, compared to Rs 952.3 crore year-on-year
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Geopolitical concerns and doubts about inflation may continue to impact consumer sentiment in the short term, said Bata India managing director and CEO Gunjan Shah. Shah, however, remained positive about the growth and profitability outlook for the company in the latest annual report. He did not elaborate on this. "We have made huge strides this past year. 2023 will be a great year for us. We will strengthen 'OneTeam' collaboration, focus on people development, invest in digitization, and improve efficiency. We are perfectly equipped to achieve future profitable growth," he said. Bata achieved several milestones in FY'23, including crossing the 2,000+ store milestone for the first time and expanding the Sneaker Studios concept. "Expanding our footprint through a combination of franchisee and COCO models, we opened 200 plus franchise stores, shop-in-shop and company-owned-company-operated stores, and the overall store count crossed the impressive 2,000 milestone," Shah said. In FY
The company raises stake in Tata Power from 5.917% to 7.935%
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The company said in a statement that it had refreshed its portfolio to offer premium products under these brands
Bata India, Metro Brands, Sreeleathers, Relaxo Footwears and Campus Activewear were up in the range of 2 per cent to 7 per cent
BATA INDIA has been correcting from 1,950 without any meaningful bounce