Bata India’s Weak Performance Continues In Q3: ICICI Securities  
Bata slippers are displayed inside a newly opened Bata India Ltd. store in Ghaziabad, India. (Photographer Prashanth Vishwanathan/Bloomberg)

Bata India’s Weak Performance Continues In Q3: ICICI Securities  

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.

ICICI Securities Report

Bata India Ltd.’s weak performance continued in Q3 (revenue declined 26%; volume declined 12%), as expected.

We note several initiatives by the company to accelerate recovery-

  1. ramping up sales from new channels (ChatShop, home delivery, store on wheels) to 15% of sales (albeit on a low in-store sales),
  2. capturing semi-urban/rural demand through franchisee stores,
  3. expanding the distribution business, and
  4. restarting promotional campaigns and new launches.

That said, we believe these initiatives are inadequate to mitigate the medium-term headwinds from potential pause in the growth of per capita spending on footwear.

Click on the attachment to read the full report:

ICICI Securities Bata Q3FY21 Results Update.pdf


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