Dolat Capital: Bata India Q2 Review - Revenue Broadly In-Line; Expect Gradual Recovery
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Dolat Capital Report
Bata India Ltd.’s Q2 FY21 revenues were broadly in line with our estimate but Ebitda and profit after tax was a miss.
Sequential recovery was encouraging. Given that 25-30% of Bata stores are in malls, the company would take longer to witness revamp in footfalls.
Nevertheless, ongoing rent negotiations would help it restrict costs at the operating level.
The company witnessed strong revenue growth in past couple of years, mainly led by increase in average selling prices.
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