ICICI Direct has hold call on Bata India with a target price of Rs 1640.The current market price of Bata India is Rs 1449.85. Time period given by analyst is a year when Bata India price can reach defined target.
Bata India, incorporated in the year 1931, is a Large Cap company (having a market cap of Rs 18637.14 Crore) operating in Leather sector.
Bata India key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 907.80 Crore, up 7.86 % from last quarter Total Income of Rs 841.62 Crore and up 6.20 % from last year same quarter Total Income of Rs 854.81 Crore. Company has reported net profit after tax of Rs 83.19 Crore in latest quarter.
The company’s top management includes Mr.Ashwani Windlass, Mr.Ravindra Dhariwal, Ms.Radha Rajappa, Mr.Ashok Kumar Barat, Mr.Shaibal Sinha, Mr.Alberto Toni, Ms.Kanchan Chehal, Ms.Vidhya Srinivasan, Mr.Gunjan Shah, Mr.Akshay Chudasama. Company has B S R & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 13 Crore shares outstanding.
Investment RationaleBata, in the last five years, has delivered ~16% CAGRreturn. Focus on cost reduction, omni channel, product mix change (higher share ofcasual footwear) and calibrated expansion of retail network through franchisee routecan be structurally positive. However, new initiatives are taking longer to delivermaterial improvement in performance in a tough macro and competitiveenvironment. Hence, growth could be constrained in near to medium term.
Promoter/FII Holdings
Promoters held 50.16 per cent stake in the company as of 31-Dec-2022, while FIIs owned 4.86 per cent, DIIs 31.51 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
