Bata India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2017 • Footwear: 100.0%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 29.9%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.48x)
- Company has delivered good sales growth of 15.5% CAGR over last 5 years
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (44.9% of PBT)
- Recent results are weak - TTM profit is down 24.5% versus prior year
- Recurring exceptional / one-off items are inflating headline profit
- Operating margins have contracted to 20.4% from 24.3%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BATAINDIA | 653.70 | 57.47 | 8401.85 | 1.38 | 63.98 | 23.05 | 978.95 | 3.94 | 20.77 | 20.84 |
| RELAXO | 327.00 | 43.93 | 8140.29 | 1.07 | 54.94 | 12.35 | 705.05 | 7.73 | 12.34 | 15.35 |
| CAMPUS | 213.75 | 60.20 | 6533.90 | 0.70 | 28.66 | — | 337.71 | — | 26.65 | 18.27 |
| MIRZAINT | 30.76 | 0.00 | 425.11 | 0.00 | -4.07 | -122.85 | 128.40 | -9.65 | 1.29 | 2.37 |
| LIBERTSHOE | 229.50 | 61.20 | 391.07 | 0.00 | 0.68 | -79.46 | 169.86 | -1.70 | 11.81 | 7.95 |
| SUPERHOUSE | 169.65 | 23.97 | 187.04 | 0.47 | 3.56 | 213.28 | 162.87 | 4.07 | 4.30 | 6.58 |
| KSR | 41.17 | 0.00 | 75.66 | 0.00 | 0.32 | 106.56 | 52.25 | 0.36 | -13.35 | 5.86 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 958 | 819 | 903 | 798 | 945 | 837 | 918 | 788 | 942 | 801 | 945 | 828 | 979 | |
| 718 | 637 | 722 | 618 | 760 | 663 | 720 | 612 | 743 | 656 | 733 | 677 | 911 | |
| Operating Profit | 240 | 182 | 182 | 179 | 185 | 174 | 199 | 175 | 199 | 145 | 212 | 151 | 68 |
| OPM % | 25.08% | 22.22% | 20.12% | 22.49% | 19.57% | 20.84% | 21.61% | 22.26% | 21.08% | 18.08% | 22.44% | 18.22% | 6.93% |
| 13 | -25 | 11 | 22 | 150 | 18 | -1 | 23 | 12 | 13 | 13 | -9 | 18 | |
| Interest | 28 | 28 | 29 | 31 | 31 | 32 | 31 | 35 | 35 | 34 | 32 | 34 | 33 |
| Depreciation | 81 | 82 | 86 | 90 | 87 | 90 | 90 | 104 | 106 | 105 | 104 | 105 | 103 |
| Profit before Tax | 144 | 47 | 77 | 80 | 217 | 70 | 77 | 60 | 70 | 19 | 89 | 4 | 86 |
| Tax % | 25.35% | 25.92% | 25.88% | 24.90% | 19.79% | 25.32% | 24.19% | 26.83% | 25.85% | 27.96% | 25.60% | 42.66% | 25.51% |
| Net Profit | 108 | 34 | 57 | 60 | 174 | 52 | 58 | 44 | 52 | 14 | 66 | 2 | 64 |
| 8.39 | 2.68 | 4.46 | 4.69 | 13.57 | 4.07 | 4.53 | 3.39 | 4.02 | 1.07 | 5.14 | 0.16 | 4.96 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,467 | 2,629 | 2,928 | 3,053 | 1,707 | 2,388 | 3,452 | 3,478 | 3,488 | 3,515 | 3,553 | |
| 2,179 | 2,265 | 2,440 | 2,213 | 1,542 | 1,965 | 2,650 | 2,686 | 2,743 | 2,799 | 2,977 | |
| Operating Profit | 289 | 364 | 488 | 841 | 166 | 422 | 801 | 793 | 745 | 716 | 576 |
| OPM % | 11.70% | 13.86% | 16.66% | 27.53% | 9.71% | 17.69% | 23.21% | 22.78% | 21.36% | 20.37% | 16.20% |
| 25 | 51 | 69 | 69 | 89 | 56 | 37 | 21 | 191 | 32 | 35 | |
| Interest | 15 | 15 | 14 | 129 | 108 | 99 | 118 | 126 | 141 | 147 | 132 |
| Depreciation | 65 | 60 | 64 | 296 | 265 | 242 | 295 | 339 | 371 | 420 | 417 |
| Profit before Tax | 234 | 340 | 478 | 485 | -118 | 137 | 426 | 349 | 424 | 181 | 197 |
| Tax % | 32.04% | 34.24% | 31.07% | 32.61% | 23.29% | 26.27% | 25.02% | 25.44% | 22.49% | 26.28% | 26.10% |
| Net Profit | 159 | 224 | 330 | 327 | -90 | 101 | 319 | 260 | 328 | 134 | 146 |
| EPS | 12.35 | 17.40 | 25.65 | 25.44 | -7.02 | 7.85 | 24.83 | 20.22 | 25.55 | 10.39 | — |
| Dividend Payout % | 28.34% | 22.99% | 24.37% | 15.73% | -56.95% | 694.32% | 54.37% | 59.34% | 74.35% | 86.61% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 16%
- 3 Years:
- 1%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -5%
- 5 Years:
- —
- 3 Years:
- -25%
STOCK PRICE CAGR
- 10 Years:
- 2%
- 5 Years:
- -18%
- 3 Years:
- -27%
- 1 Year:
- -48%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 15%
- 3 Years:
- 16%
- Last Year:
- 8%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 |
| 1,261 | 1,414 | 1,682 | 1,832 | 1,696 | 1,750 | 1,370 | 1,456 | 1,502 | 1,522 | |
| 104 | 104 | 100 | 1,035 | 860 | 891 | 1,010 | 1,086 | 1,310 | 1,213 | |
| Trade Payables | 407 | 479 | 516 | 503 | 440 | 456 | 409 | 298 | 349 | 331 |
| -14 | -22 | 6 | 189 | 137 | 258 | 431 | 411 | 557 | 545 | |
| Total Liabilities | 1,822 | 2,039 | 2,369 | 3,624 | 3,196 | 3,420 | 3,283 | 3,315 | 3,782 | 3,675 |
| 266 | 294 | 315 | 1,368 | 1,118 | 1,224 | 1,389 | 1,505 | 1,798 | 1,649 | |
| Capital Work in Progress | 24 | 12 | 17 | 20 | 29 | 4 | 2 | 2 | 14 | 4 |
| 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 40 | |
| 705 | 762 | 839 | 874 | 608 | 871 | 904 | 929 | 815 | 708 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 80 | 112 | 184 | |
| Cash & Bank | 521 | 588 | 839 | 962 | 1,094 | 965 | 523 | 403 | 624 | 485 |
| 301 | 377 | 354 | 396 | 342 | 351 | 461 | 391 | 414 | 604 | |
| Total Assets | 1,822 | 2,039 | 2,369 | 3,624 | 3,196 | 3,420 | 3,283 | 3,315 | 3,782 | 3,675 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 327 | 271 | 485 | 767 | 411 | 218 | 726 | 459 | 738 | 595 | |
| Cash from Investing | -233 | -107 | -277 | -187 | -50 | 93 | 438 | 33 | 51 | -255 |
| Cash from Financing | -56 | -56 | -63 | -436 | -369 | -341 | -1,011 | -517 | -638 | -531 |
| -27 | -7 | 4 | -44 | 39 | -37 | 57 | -25 | 151 | -191 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Bata India Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-09-09 - Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bata India Limited has informed about change in SMP
2026-09-02 - Pursuant to SEBI Circular dated January 30, 2026, Bata India Limited has informed about Lodgement and Re-lodgement of Physical Shares
2026-08-24 - Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bata India Limited has informed about Newspaper Publications
2026-08-24 - Bata India Limited has made disclosure regarding updated contact details under Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-08-17 - Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bata India Limited has informed about transcript of Post Earnings Call
2026-08-13 - Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bata Indlia Limited has informed about Audio Recording of Post Earnings Call
2026-08-12 - Pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bata India Limited has informed about Voting Results
2026-08-12 - Bata India Limited has informed the Exchange regarding Change in Director(s) of the company.
News
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