On consolidated basis
Quarter ended September 2024 compared with Quarter ended September 2023.
Net sales (including other operating income) of Bata India has increased 2.20% to Rs 837.14 crore. Operating profit margin has declined from 22.18% to 20.86%, leading to 3.89% decline in operating profit to Rs 174.59 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 6.36% to 8.59%. Purchase of finished goods cost fell from 39.26% to 34.65%. Employee cost increased from 12.10% to 13.63%. Other expenses rose from 21.50% to 22.22%. Other income rose 10.90% to Rs 17.19 crore. PBIDT fell 2.72% to Rs 191.78 crore. Provision for interest rose 11.78% to Rs 31.79 crore. Loan funds rose to Rs 1,437.86 crore as of 30 September 2024 from Rs 1,262.83 crore as of 30 September 2023. Inventories declined from Rs 923.01 crore as of 30 September 2023 to Rs 854.03 crore as of 30 September 2024. Sundry debtors were higher at Rs 152.26 crore as of 30 September 2024 compared to Rs 100.48 crore as of 30 September 2023. Cash and bank balance rose to Rs 473.45 crore as of 30 September 2024 from Rs 427.42 crore as of 30 September 2023. Investments rose to Rs 1.00 crore as of 30 September 2024 from Rs 0.40 crore as of 30 September 2023 . PBDT fell 5.17% to Rs 159.99 crore. Provision for depreciation rose 10.40% to Rs 90.21 crore. Fixed assets increased to Rs 1,549.00 crore as of 30 September 2024 from Rs 1,402.17 crore as of 30 September 2023. Intangible assets increased from Rs 16.91 crore to Rs 25.53 crore. Profit before tax down 19.79% to Rs 69.78 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 17.8 crore, compared to Rs 12.11 crore. Effective tax rate was 25.51% compared to 26.27%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 52.93% to Rs 51.98 crore. Equity capital stood at Rs 64.26 crore as of 30 September 2024 to Rs 64.26 crore as of 30 September 2023. Per share face Value remained same at Rs 5.00. Promoters’ stake was 50.16% as of 30 September 2024 ,compared to 50.16% as of 30 September 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Bata India has increased 0.25% to Rs 1781.78 crore. Operating profit margin has jumped from 23.70% to 27.70%, leading to 17.17% rise in operating profit to Rs 493.49 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 6.80% to 7.55%. Purchase of finished goods cost fell from 37.47% to 34.22%. Employee cost increased from 11.74% to 13.77%. Other expenses rose from 20.53% to 23.36%. Other income rose 16.16% to Rs 33.42 crore. PBIDT rose 17.11% to Rs 526.91 crore. Provision for interest rose 10.64% to Rs 62.6 crore. Loan funds rose to Rs 1,437.86 crore as of 30 September 2024 from Rs 1,262.83 crore as of 30 September 2023. Inventories declined from Rs 923.01 crore as of 30 September 2023 to Rs 854.03 crore as of 30 September 2024. Sundry debtors were higher at Rs 152.26 crore as of 30 September 2024 compared to Rs 100.48 crore as of 30 September 2023. Cash and bank balance rose to Rs 473.45 crore as of 30 September 2024 from Rs 427.42 crore as of 30 September 2023. Investments rose to Rs 1.00 crore as of 30 September 2024 from Rs 0.40 crore as of 30 September 2023 . PBDT rose 18.04% to Rs 464.31 crore. Provision for depreciation rose 8.99% to Rs 177.42 crore. Fixed assets increased to Rs 1,549.00 crore as of 30 September 2024 from Rs 1,402.17 crore as of 30 September 2023. Intangible assets increased from Rs 16.91 crore to Rs 25.53 crore. Profit before tax grew 24.43% to Rs 286.89 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 60.85 crore, compared to Rs 48.78 crore. Effective tax rate was 21.21% compared to 25.72%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 60.44% to Rs 226.04 crore. Equity capital stood at Rs 64.26 crore as of 30 September 2024 to Rs 64.26 crore as of 30 September 2023. Per share face Value remained same at Rs 5.00. Promoters’ stake was 50.16% as of 30 September 2024 ,compared to 50.16% as of 30 September 2023 . Cash flow from operating activities increased to Rs 387.17 crore for YTD ended September 2024 from Rs 285.65 crore for YTD ended September 2023. Cash flow used in acquiring fixed assets during the YTD ended September 2024 stood at Rs 31.77 crore, compared to Rs 45.52 crore during the YTD ended September 2023.
Full year results analysis.
Net sales (including other operating income) of Bata India has increased 0.78% to Rs 3478.61 crore. Operating profit margin has declined from 23% to 22.59%, leading to 0.99% decline in operating profit to Rs 785.90 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 7.50% to 6.95%. Purchase of finished goods cost fell from 36.93% to 36.48%. Employee cost decreased from 12.00% to 11.96%. Other expenses rose from 20.80% to 22.23%. Other income rose 59.57% to Rs 61.72 crore. PBIDT rose 1.82% to Rs 847.62 crore. Provision for interest rose 8.49% to Rs 117.01 crore. Loan funds rose to Rs 1,357.29 crore as of 31 March 2024 from Rs 1,246.45 crore as of 31 March 2023. Inventories rose to Rs 929.55 crore as of 31 March 2024 from Rs 904.56 crore as of 31 March 2023. Sundry debtors were lower at Rs 80.13 crore as of 31 March 2024 compared to Rs 82.55 crore as of 31 March 2023. Cash and bank balance declined from Rs 531.20 crore as of 31 March 2023 to Rs 407.97 crore as of 31 March 2024. Investments stood at Rs 0.50 crore as of 31 March 2024 to Rs 0.50 crore as of 31 March 2023. PBDT rose 0.83% to Rs 730.61 crore. Provision for depreciation rose 15.03% to Rs 339.08 crore. Fixed assets increased to Rs 1,483.38 crore as of 31 March 2024 from Rs 1,379.24 crore as of 31 March 2023. Intangible assets increased from Rs 16.38 crore to Rs 29.05 crore. Profit before tax down 8.91% to Rs 391.53 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 88.12 crore, compared to Rs 106.83 crore. Effective tax rate was 25.13% compared to 24.85%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 18.73% to Rs 262.51 crore. Equity capital stood at Rs 64.26 crore as of 31 March 2024 to Rs 64.26 crore as of 31 March 2023. Per share face Value remained same at Rs 5.00. Promoters’ stake was 50.16% as of 31 March 2024 ,compared to 50.16% as of 31 March 2023 . Cash flow from operating activities decreased to Rs 453.11 crore for year ended March 2024 from Rs 628.82 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 100.90 crore, compared to Rs 95.41 crore during the year ended March 2023. Other highlights
The company renovated 48 stores during H1
FY25.
Management Comments :
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 : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 837.14 | 819.12 | 2.20 | 1,781.78 | 1,777.27 | 0.25 | 3,478.61 | 3,451.57 | 0.78 | | OPM (%) | 20.86 | 22.18 | -132 bps | 27.70 | 23.70 | 400 bps | 22.59 | 23.00 | -41 bps | | OP | 174.59 | 181.65 | -3.89 | 493.49 | 421.17 | 17.17 | 785.90 | 793.78 | -0.99 | | Other Inc. | 17.19 | 15.50 | 10.90 | 33.42 | 28.77 | 16.16 | 61.72 | 38.68 | 59.57 | | PBIDT | 191.78 | 197.15 | -2.72 | 526.91 | 449.94 | 17.11 | 847.62 | 832.46 | 1.82 | | Interest | 31.79 | 28.44 | 11.78 | 62.60 | 56.58 | 10.64 | 117.01 | 107.85 | 8.49 | | PBDT | 159.99 | 168.71 | -5.17 | 464.31 | 393.36 | 18.04 | 730.61 | 724.61 | 0.83 | | Depreciation | 90.21 | 81.71 | 10.40 | 177.42 | 162.79 | 8.99 | 339.08 | 294.78 | 15.03 | | PBT | 69.78 | 87.00 | -19.79 | 286.89 | 230.57 | 24.43 | 391.53 | 429.83 | -8.91 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 69.78 | 87 | -19.79 | 286.89 | 230.57 | 24.43 | 391.53 | 429.83 | -8.91 | | EO Income | 0 | -40.9 | - | 0 | -40.9 | - | -40.9 | 0 | - | | PBT after EO | 69.78 | 46.1 | 51.37 | 286.89 | 189.67 | 51.26 | 350.63 | 429.83 | -18.43 | | Taxation | 17.8 | 12.11 | 46.99 | 60.85 | 48.78 | 24.74 | 88.12 | 106.83 | -17.51 | | PAT | 51.98 | 33.99 | 52.93 | 226.04 | 140.89 | 60.44 | 262.51 | 323 | -18.73 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 51.98 | 33.99 | 52.93 | 226.04 | 140.89 | 60.44 | 262.51 | 323 | -18.73 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 51.98 | 33.99 | 52.93 | 226.04 | 140.89 | 60.44 | 262.51 | 323 | -18.73 | | EPS (Rs)* | 4.04 | 4.99 | -18.97 | 17.59 | 13.33 | 31.98 | 22.81 | 25.13 | -9.25 | | | * EPS is on current equity of Rs 64.26 crore, Face value of Rs 5, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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