Resilient Performance with Gross Margins growth

Newsmantra — Fri, 02 Feb 2024 07:14:58 +0000

Mumbai, February 1, 2024: Footwear major Bata India Limited today announced results for the quarter ended December 31, 2023. Revenue from operations for the quarter stood at Rs. 9,035 million vs. Rs. 9,002 million (Q3FY23), growth driven by premium categories, despite muted demand. Gross Profit expanded by 119 bps for the quarter ended December 31, 2023 showcasing consistent efficiency improvements across operations in its commitment to the strategic priorities towards sustainable profitable growth. With an optimistic outlook to be future ready, significant investments were made behind Brand and technology during the quarter which impacted net margins.

Key Highlights

• Network expansion – 54 net new stores, Franchise & COCO expansion.

• 36 stores were renovated during the quarter to provide an elevated brand experience.

• Successful execution of portfolio casualization strategy – Sneaker Studio implemented in 655 Stores.

• Floatz business continues to do exceptionally well with growth of 65%, enhanced by Floatz banner in 7 new stores.

• Robust Ecom performance driving the growth.

• Launched “Every Walk is a Ramp Walk” campaign enhancing Brand metrics significantly.

• HPM – Merchandising project and ERP continue to progress.

• 3PL implemented in Hosur.

• Nine West is on track for launch in stores Q4FY24 onwards.

Speaking on the Q3FY24 performance, Gunjan Shah, MD and CEO – Bata India Limited, stated:

“Despite persistent market headwinds accentuated in discretionary spending, we continued to invest in new product launches, enhancing customer experience and expanding our reach across channels & markets.

We saw handsome growth in Red Label, Floatz, Comfit and Hush Puppies. Our strategy for premiumization continues progressively.

Prudent expansion of our Retail Network and marketing investments continue to be our key strategy. We launched our latest campaign “Every Walk is a Ramp Walk” that has met encouraging response and impact on the Brand.

We would continue to focus on efficiency and productivity backed by digital transformation for future readiness with cautious optimism.”

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Bata India announces Q2 results; Striding ahead efficiently with Strong Operating Profit growth

Newsmantra — Thu, 09 Nov 2023 05:46:30 +0000

Mumbai, November 8, 2023: Footwear major Bata India Limited today announced results for the quarter ended September 30, 2023. The Profit before tax & Exceptional items stood at Rs. 874.59 million (28.4% growth) for the quarter ended September 30, 2023, vs. Rs. 681.41 million from Q2FY23, showcasing consistent efficiency improvements across operations. This is in alignment with the Company’s commitment to make sustainable profitable growth. Revenue from operations for the quarter stood at Rs. 8,191 million, vs. Rs. 8,297 million (Q2FY23) despite the delayed festive season until Q3 this year.

Key Highlights

• Aggressive network expansion – 30 stores in close to 25 cities, with Franchise & SIS network consisting over 39 %.

• 54 stores were renovated during the quarter.

• Successful execution of portfolio casualization strategy – Sneaker Studio implemented in 612 Stores.

• Floatz business continues to do exceptionally well with growth of 70%, backed by Floatz banner in 10 new stores.

• Launched Casual Style campaign, Bata Celebration campaign, Monsoon campaign, School campaign to strengthen our consumer connect.

• HPM – Merchandising project implemented. ERP project on track.

• Comprehensive licensing and manufacturing agreement signed for globally renowned fashion brand Nine West for bringing on-trend fashion designs to Indian consumers.

• IMEVA capability commissioned in Batanagar Unit to further enhance casualization portfolio.

• Initiated Voluntary Retirement Scheme in one of the Manufacturing units and booked as an exceptional item, in this quarter.

Speaking on the Q2FY24 performance, Gunjan Shah, MD and CEO – Bata India Limited, stated:

“Despite navigating through short-term demand headwinds in the quarter gone by, our focus on efficiency and productivity was reflected in robust operating profit margin growth. Prudent expansion of our Retail Network and marketing investments continue to be our key strategy.

We launched our latest campaign “Every Walk is a Ramp Walk” that has met encouraging response. We are looking for the ongoing festive season in the current quarter.

We unveiled our latest collection, bringing global fashion and premium designs to everyone in the country, introducing on-trend styles and comfortable offerings from Comfit, North Star, Red Label, Hush Puppies, Floatz.

We continue to flesh out new opportunities across our value chain. We remain focused on cost efficiency across all operations including manufacturing facilities and optimizing our resources. In line with our strategy of sustainable profitable growth, we continue to expand across tiers in capital efficient manner, digital channels and make investments in elevating customer experience & brand marketing.”

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Resilient Performance with Gross Margins growth

Bata India announces Q2 results; Striding ahead efficiently with Strong Operating Profit growth