Bata India announces Q4 results; Growth with Every Step
Mumbai, May 2023: Footwear major Bata India Limited today announced results for the quarter ended March 31, 2023. Revenue from operations for the quarter stood at Rs. 7785.85 million (a growth of 17% over Q4FY22). The Operating Profit stood at Rs. 755.77 million, a growth of 15.1% over Q4FY22.
Revenue from operations for 12MFY23 stood at Rs. 34515.68 million, a growth of 44.6% over last year (1.13x over pre-covid). The Operating Profit stood at Rs. 3882.80 million, a growth of 379.8% over the last year.
The results for the year showcase the significant contribution of strategic growth levers helping Bata India drive growth over pre-covid levels through Innovation, Expansion and Evolution.
The Board has recommended a Dividend of Rs. 13.50 (270%) per equity share of Rs. 5/- each, fully paid up of the Company, amounting to Rs. 1735.12 million for the financial year ended March 31, 2023, for approval of the Members at the ensuing Annual General Meeting.
Key Highlights
- Sales growth of 13% over pre-covid levels (2019-20) with strong margin performance.
- Aggressive network expansion – 2050+ stores in close to 700 cities, with a Franchise & SIS network consisting of over 37%.
- 22 stores were renovated during the quarter. Happy Feet Centre offers special pedicure and customized insole services launched in 9 stores along with shoe insurance across 518 stores in multiple cities.
- Successful execution of portfolio casualization strategy – Sneaker category sales 1.6x over last year. Floatz achieved the highest-ever quarterly turnover with the launch of the Floatz 2.0 collection.
- Drove Premiumization in Top 200 doors with Price Range Rs. 2999-4999. ASP grew by 13% from last year.
- Distribution channel continued to scale up to 1350+ towns. Launched new Value Added Categories (VAC) in Men’s & Lady’s Open – gaining good traction in the market.
- NPS improved from 72 to 80 over last year.
Speaking on the Q4FY23 and 12MFY23 performance, Gunjan Shah, MD and CEO – of Bata India Limited, stated:
“Bata India had a robust year and this reflects in the growth over pre-covid levels for all key metrics and across all business channels of EBOs, MBOs, and E-Commerce. During the last few quarters, we are witnessing consistent demand for casual and comfortable footwear. This is due to the increasing trend for the purchase of non-occasion wear and the demand for comfort & style. With a growing number of nuclear families, footfall across the retail segment is also increasing. We focused on refreshing our product portfolio with our strategy of casualization and offering premium fashionable products highlighted by robust growth momentum in brands like Hush Puppies, Comfit, Floatz, Red Label & North Star. We continue to add Franchise and SIS stores to cater to untapped markets in a capital-efficient way.
We are optimistic about our growth against the backdrop of our innovation and the evolution of product offerings. We will step up our marketing investments in the coming year to fuel accelerate growth momentum backed by strong investments in technology across the value chain.”
