Store expansion a big factor in Bata India’s Q4 results

Footwear major Bata India announced results for the quarter ended March 31, 2023, wherein Revenue from Operations for the quarter stood at Rs. 7785.85 million (a growth of 17% over Q4FY22), while the Operating Profit stood at Rs. 755.77 million, a growth of 15.1% over Q4FY22.

The results for the year showcase significant contribution of strategic growth levers helping Bata India drive growth over pre-covid levels through Innovation, Expansion and Evolution, said the company.

Some of the Key Highlights of the year shared by the company include:

• Sales growth of 13% over pre-covid levels (2019-20) with strong margin performance.
• Aggressive network expansion – 2050+ stores in close to 700 cities, with Franchise & SIS network consisting over 37%.
• 22 stores were renovated during the quarter. Happy Feet Centre offering special pedicure and customized insole service launched in 9 stores alongwith shoe insurance across 518 stores in multiple cities.
• Drove Premiumization in Top 200 doors with Price Range Rs. 2999-4999. ASP grew by 13% from last year.
• Distribution channel continued to scale up to 1350+ towns. Launched new Value Added Categories (VAC) in Men’s & Ladies Open – gaining good traction in the market.

Speaking on the Q4FY23 and 12MFY23 performance, Gunjan Shah, MD and CEO - Bata India Limited, stated:

“Bata India had a robust year and this reflects in the growth over pre-covid levels for all key metrics and across all business channels of EBOs, MBOs and E-Commerce. During the last few quarters, we are witnessing consistent demand for casual and comfortable footwear. This is due to increasing trend for purchase of non-occasion wear and demand for comfort & style. With growing number of nuclear families, footfall across the retail segment is also increasing. We focused on refreshing our product portfolio with our strategy of casualization and offering premium fashionable products highlighted by robust growth momentum in brands like Hush Puppies, Comfit, Floatz, Red Label & North Star. We continue to add Franchise and SIS stores to cater to untapped markets in a capital efficient way.

We are optimistic about our growth in the backdrop of our innovation and evolution of product offerings. We will step-up our marketing investments in the coming year to fuel accelerate growth momentum backed by strong investments in technology across the value chain.”