Bata India Q4 Review - Expect Delayed Sales Recovery: Dolat Capital
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Dolat Capital Report
Bata India Ltd.’s Q4 FY21 revenues came below our estimate as we anticipated better revenue traction due to improved business conditions.
We believe that the sales performance would remain low in the coming quarters due to nationwide lock downs and anticipated further delays in opening of malls.
Nevertheless, over 12-18 months, we believe that the continuous store additions, new promotional activities and procuring institutional contracts would help the company to recover from lull sales growth.
Post re-opening of markets, most of the retail businesses have reached pre-Covid-19 level.
With gradual re-opening of schools and offices, we believe that the company would also regain lost momentum.
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