Review

BATA INDIA LTD.

Ticker : 500043 
FV: Rs 5 
52-Week H/L: Rs 1,705/1,215

We recommended Bata India Limited in vol. 37, no. 35, dated June 21, 2021. Bata India provides the world’s most comfortable and stylish shoes, accessories as well as apparel to help consumers look & feel their best. On the consolidated quarterly front, the company recorded net sales & operating income of Rs 589.91 crore for Q4FY21, recording a dip of 4.94 per cent from its net sales and operating income of Rs 620.57 crore reported for Q4FY20. The operating profit declined by 19.3 per cent to reach Rs 126.51 crore in Q4FY21 from Rs 156.75 crore posted in Q4FY20. The net profit was reported at Rs 29.47 crore in Q4FY21 from Rs 38.41 crore in Q4FY20, squeezing by 23.26 per cent. The company’s Q4 results showed steady and consistent growth in line with the quarter's seasonality. Hence, expecting the company’s gradual revival due to the rollout of vaccines for the 18 plus age group, we recommend HOLD.