DINESH

Bata India

Industry: Retail
Latest CMP 619
Today's Change ▼ -0.26%
52-Week High / Low 1,165 | 580
Price Date: 30-Sep-2026
Recommendation Buy
Target Price 941
Expected Upside 23.3%
Forecast Horizon 2 Years
Historical CAGR 12.2%
1,000 Invested 01-Oct-2006
Today's Value 10,035
Investment Period 20 Years

Stock Snapshot

Post Results Return
-0.7%
Neutral Market Reaction
1-Year Target Price
884
2-Year Target Price
941
52-Week High / Low
1,165 / 580
20-Day Return
-8.7%
Market Cap (Cr.)
7,952
Current PE
56.7
P/BV Ratio
5.0
Dividend Yield
1.2%
Industry PE
61.0

Price Performance

Vista Outlook

Basis of our Recommendation

Bata India's management is optimistic about the company's growth trajectory, emphasizing a strategic pivot towards premiumization and operational efficiency. The recent expansion of its exclusive brand outlets (EBOs) to over 2,000, with a target of 3,000, is a key driver for revenue growth, supported by a focus on enhancing average selling prices (ASP) through a reimagined product funnel. Despite facing challenges from raw material cost volatility and competitive pressures, management's initiatives in inventory rationalization and vendor consolidation are expected to bolster margins over the long term. Vista's financial outlook reflects stable revenue growth and improving margins, aligning with management's focus on structural profitability rather than aggressive top-line expansion. The retail sector's recovery, particularly in premium segments, further supports this outlook, although rising input costs and consumer price sensitivity remain headwinds. Over the next 12-24 months, key opportunities include the successful rollout of the redesigned product portfolio and continued digital channel growth, while watchpoints include the sustainability of demand recovery and potential margin pressures from inflationary trends

👍 Why We Like This Stock

  • Expansion of exclusive brand outlets to enhance market reach and revenue
  • Strategic focus on premiumization expected to improve average selling prices and margins
  • Operational initiatives like inventory rationalization and vendor consolidation aimed at long-term profitability

⚠ Things To Watch Out For

  • Rising input costs and inflationary pressures could impact margins
  • Intense competition may challenge market share and pricing power
  • Sustainability of the current demand recovery remains uncertain

Key Parameters

Balance Sheet Strength
Stable Financial Structure
Market Share
Stable
Industry Outlook
Improving
Analyst View
Hold
Dividend History
Consistent
FII Holdings
Stable

Financial Snapshot

View Technicals Analysis →
Actuals Forecast
FY24 FY25 FY26 FY27 FY28
Revenue (Cr.) 3,479 3,489 3,516 3,588 3,777
Profit Before Tax (Cr.) 394 306 231 267 291
PBT Margin 11.3% 8.8% 6.6% 7.4% 7.7%
Net Profit (Cr.) 280 226 149 200 219
Earnings Per Share 21.8 17.6 11.6 15.6 17.0

Analyst Recommendations

Broker Recommendation Target Price Date
Elara Capital ► Accumulate 781 20-Aug-2026
Axis Securities ► Hold 755 17-Aug-2026
IDBI Capital ▲ Buy 839 14-Aug-2026
Motilal Oswal ► Neutral 645 14-Aug-2026
Nuvama ▼ Reduce 598 14-Aug-2026
Consensus Recommendation ► Hold
Consensus Target 719
Coverage 5 Analysts
Analysts' Viewpoint
Bata India's focus on premiumization and operational efficiency, through initiatives like Zero-Based Merchandising and ERP implementation, aims to enhance store productivity and inventory management. The company is expanding its franchise network, targeting 1,000 locations, and leveraging digital channels for growth. However, challenges such as input cost inflation, elevated marketing expenses, and competitive pressures pose risks to margins. Future catalysts include a comprehensive product portfolio refresh by H2FY27 and the realization of price hike benefits to offset material costs.

Company Overview

Show Company Profile

Bata India Limited manufactures, sells, and trades in footwear and accessories through its retail and wholesale network in India and internationally. It offers men's footwear, including casual shoes, slippers and flipflops, as well as ethnic, formal, loafers, sandals, sneakers, sports, and outdoor shoes. The company also offers women's footwear, such as ballerinas, boots, casual, flats, flipflop, loafers, mule, sandals, sneakers, sports, thongs, and toe ring shoes, as well as heel footwear. It is also involved in kids' footwear; apparel, including joggers and bottoms, shorts, t-shirt, and Polos for men and women; and accessories, such as belts, handbags, laptop bags, belts, wallets, school bags, and other bags. In addition, the company sells its products primarily under Bata, Hush Puppies, Nine West, North Star, Power, Bata Red Label, Bata Comfit, Bubblegummers, Disney, Naturalizer, Marie Claire, Scholl, Floatz by Bata, Weinbrenner, and Bata Industrials brand names through retail and franchisee stores, a wholesale network, and e-commerce. The company was formerly known as Bata Shoe Company Private Limited and changed its name to Bata India Limited in 1973. Bata India Limited was incorporated in 1931 and is based in Gurugram, India. Bata India Limited operates as a subsidiary of Bata (BN) B.V.