Bata India Ltd Share Price – NSE  / BSE

Leather, Small Cap

Durgesh Singh is a qualified Chartered Accountant and qualified Company Secretary with over 20 years of professional experience. He has been playing strategic part in the finance function of the Company since last 9 years.

Throughout Durgesh career, Singh has developed deep proficiency in finance, strategy, compliance, taxation, treasury, business planning and commercial operations. Durgesh has worked with reputed organizations such as Bharti Airtel, Apollo Tyres and Aditya Birla Group, at various positions demonstrating exceptional leadership and strategic acumen.

Bata India is the largest retailer and manufacturer of footwear in the country. The company is engaged in the business of manufacturing and trading of footwear and accessories through their retail and wholesale network. Their products include leather footwear, rubber/canvas footwear and plastic footwear.

Bata India’s consolidated net profit jumped 52.89% to Rs 51.97 crore in Q2 FY25 as against Rs 33.99 crore posted in Q2 FY24. Revenue from operations rose 2.19% year on year (YoY) to Rs 837.14 crore in the quarter ended 30 September 2024.

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The frontline indices traded with modest losses in mid-morning trade. The Nifty traded below the 23,950 mark. Pharma shares extended losses for the second consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex fell 233.84 points or 0.30% to 78,547.28. The Nifty 50 index lost 71.75 points or 0.30% to 23,923.60.

In the broader market, the S&P BSE Mid-Cap index fell 0.56% and the S&P BSE Small-Cap index shed 0.10%.

The market breadth was positive. On the BSE, 2,130 shares rose and 1,610 shares fell. A total of 145 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Sagility India received bids for 3,10,67,500 shares as against 38,70,64,594 shares on offer, according to stock exchange data at 11:20 IST on Tuesday (05 November 2024). The issue was subscribed 0.08 times.

The issue opened for bidding on Tuesday (05 November 2024) and it will close on Thursday (07 November 2024). The price band of the IPO is fixed between Rs 28 to Rs 30 per share. An investor can bid for a minimum of 500 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Pharma index fell 0.49% to 22,528.25. The index slipped 1.22% in two consecutive past trading sessions.

Lupin (down 2.91%), Zydus Lifesciences (down 2.72%), Mankind Pharma (down 2.25%), Divis Laboratories (down 2.13%), Aurobindo Pharma (down 2.1%), Alkem Laboratories (down 2.08%), Torrent Pharmaceuticals (down 1.18%), Granules India (down 1.17%), Dr Reddys Laboratories (down 0.95%) and Abbott India (down 0.88%) declined.

On the other hand, Gland Pharma (up 12.08%), Ajanta Pharma (up 3.09%) and J B Chemicals & Pharmaceuticals (up 1.48%) edged higher.

Stocks in Spotlight:

Bata India shed 0.44%. The company’s consolidated net profit jumped 52.89% to Rs 51.97 crore in Q2 FY25 as against Rs 33.99 crore posted in Q2 FY24. Revenue from operations rose 2.19% year on year (YoY) to Rs 837.14 crore in the quarter ended 30 September 2024.

Gland Pharma surged 12.06% after the company’s net profit increased 9.39% to Rs 281.71 crore on 5.18% rise in revenue from operations to Rs 1,062.99 crore in Q2 FY25 over Q1 FY25.

Tilaknagar Industries soared 16.58% after the firm’s consolidated net profit surged 57.21% to Rs 58.23 crore on 9.75% rise in revenue from operations to Rs 823.32 crore in Q2 FY25 over Q2 FY24.

Global Markets:

Most Asian shares traded mixed on Tuesday as investors remained cautious ahead of the closely watched U.S. presidential election later in the day. Chinese markets were buoyed by strong business activity data. Investors are also closely monitoring the meeting of China's National People's Congress this week, anticipating further clues on fiscal spending.

Regional markets took a neutral stance following a negative session on Wall Street. The S&P 500 declined 0.28%, the NASDAQ Composite fell 0.33% and the Dow Jones Industrial Average dropped 0.61%.

The US Federal Reserve's meeting is scheduled for this week, with a 25 basis point rate cut widely expected, following a 50 basis point cut in September.

Third-quarter earnings have delivered mixed results, with a slew of middling big-tech earnings reported last week. Berkshire Hathaway Inc. fell 2% after missing operating earnings estimates. In contrast, data software firm Palantir Technologies Inc. rallied nearly 13% in after-market trading as its earnings surpassed expectations.

Dollar Tree Inc. rose 6.3% after announcing that CEO Rick Dreiling would resign, and Chief Operating Officer Michael Creedon Jr. would take over on an interim basis.

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Revenue from operations rose 2.19% year on year (YoY) to Rs 837.14 crore in the quarter ended 30 September 2024.

Profit before exceptional items and tax spiked 51.34% to Rs 69.77 crore in second quarter of FY25 as compared to Rs 46.10 crore reported in Q2 FY24.

Bata continued expansion with a network of 1,955 COCO and franchise stores. Successful execution of portfolio casualization strategy – Sneaker Studio implemented in 756 stores, added the footwear maker.

During the quarter, 48 stores renovated in this year, elevating customer experience with style and technology propositions.

On half year basis, the company’s net profit jumped 60.42% to Rs 226.01 crore on 0.25% marginally rose in revenue from operations to Rs 1781.8 crore in H1 FY25 over H1 FY24.

Gunjan Shah, MD and CEO - Bata India, stated: “Despite continuing market headwinds and subdued consumption, we saw some recovery in our growth trajectory through the quarter backed by focused execution of strategic initiatives. We are seeing strong validation of our premiumisation strategy across channels, with premium products showing robust growth and increased contribution to our revenue mix.

Our Brand stories connected well with targeted audience. Our expansion through franchise stores in Tier 3-5 markets, combined with our robust digital presence, is helping us tap into new growth opportunities with strengthened omni-channel approach. Our conscious efforts on Franchise model expansion are showing good results. Cost efficiency remains a cornerstone across all operations including manufacturing facilities.

We continue to maintain a balanced approach between managing near-term challenges and investing in long-term growth drivers. We are optimistic about consumption recovery in the coming quarters, backed by festive season momentum and our strong market positioning.”

Bata India is the largest retailer and manufacturer of footwear in the country. The company is engaged in the business of manufacturing and trading of footwear and accessories through their retail and wholesale network. Their products include leather footwear, rubber/canvas footwear and plastic footwear.

Shares of Bata India rose 0.98% to Rs 1,350 on the BSE.

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Net profit of Bata India rose 52.93% to Rs 51.98 crore in the quarter ended September 2024 as against Rs 33.99 crore during the previous quarter ended September 2023. Sales rose 2.20% to Rs 837.14 crore in the quarter ended September 2024 as against Rs 819.12 crore during the previous quarter ended September 2023.

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