Bata India Q2 Review - Pre-Covid-19 Performance Likely By Q3: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.The better-than-expected Q2 FY22 results by Bata India Ltd. points to pre-Covid-19 type performance by H2 FY22. Q2 FY22 sales, Ebitda (post Indian-AS 116) and profit after tax outperformed our estimates. Sales and Ebitda were up by 67% and 557% YoY, respectively on a low base. The key differences between our estimates and the actuals seem to be the 21% beat on revenue and significant control in employee expenses. Gross margin at ~53% was in line with estimate. Bata India's Q2 FY22 revenue though higher YoY is still 15% lower than Q2 FY20 level, possibly because of weaker demand for premium office and casual wear.While no more color is available on internals of Q2 FY22, we believe that revenue was driven by digital, franchising and wholesale in terms of growth rates (YoY). .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bata India Q2 Review - Pre-Covid-19 Performance Likely By Q3: Nirmal Bang

Bata India Q2 Review - Pre-Covid-19 Performance Likely By Q3: Nirmal Bang

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