bata Archives

Here are some of the major updates that could move the markets tomorrow:

Adani Energy Q2 Results: Net profit rises 34% YoY to ₹276 crore

Adani Energy Solutions Ltd reported a 34% YoY rise in net profit to ₹276 crore for the quarter ended September (Q2 FY24). Its revenue from operations rose 13% YoY to ₹3,674 crore during the same period. EBITDA stood at ₹1,368 crore, up 10% YoY. Other income for the quarter stood at ₹93 crore, compared to ₹125 crore a year ago.

Read more here.

Reliance Jio introduces new onboard diagnostics device

Reliance Jio has introduced a new onboard diagnostics (OBD) device called JioMotive that can transform any car into a smart vehicle. The pocket-size device is easy to install and simply needs to be plugged into the car’s OBD port, commonly found under the dashboard. By using an e-SIM, the device connects to the Jio network, eliminating the need for a separate SIM card or data plan.

Read more here.

Nykaa Q2 Results: Net profit rises 50% YoY to ₹7.8 crore

FSN E-Commerce Ventures Ltd (Nykaa) reported a 50% YoY increase in net profit to ₹7.8 crore for the quarter ended September 2023 (Q2 FY24). Its revenue from operations increased 22% YoY to ₹1,231 crore during the same period. EBITDA stood at ₹80.6 crore, up 32% YoY. The gross merchandise value (GMV) rose 25% YoY to ₹2,943 crore in Q2.

Read more here.

Reliance Retail ramps up Smart Bazaar stores in small towns

Reliance Retail Ventures Ltd (RRVL) is opening more Smart Bazaar stores in towns with a population of up to 50,000 to meet growing demand. RRVL is the retail unit of Reliance Industries. It is the largest grocery retailer in the country that operates stores in multiple formats – Smart Superstore, Smart Point, Smart Bazaar, Fresh Signature, Freshpik and 7-Eleven.

Read more here.

Adani Group in talks to exit JV with Wilmar

Adani Group is in talks with multiple multinational consumer goods companies to sell its entire 43.97% stake in Adani Wilmar Ltd. The conglomerate is expecting $2.5-3 billion for the stake in the joint venture with Wilmar International, which also owns 43.97% of the company. Adani Wilmar owns the Fortune brand of edible oils and packaged groceries.

Read more here.

Divi’s Labs Q2 Results: Net profit falls 29% YoY to ₹348 crore

Divi’s Labs Ltd reported a 29% YoY fall in net profit to ₹348 crore for the quarter ended September 2023 (Q2 FY24); missing street estimates. The pharma company’s revenue rose 3% YoY to ₹1,909 crore during the same period. Consolidated EBITDA stood at ₹479 crore in Q2.

Read more here.

L&T arm secures airport project in Andhra Pradesh

Larsen and Toubro’s (L&T) subsidiary, L&T Construction, has secured an order to construct the greenfield Bhogapuram International Airport project in Andhra Pradesh. The contract is worth approximately ₹2,500-5,000 crore. The project will initially be developed to handle 6 million passengers per annum (MPA), and the capacity will be further enhanced to 12 MPA.

Read more here.

Varun Beverages Q3 Results: Net profit rises 32% YoY to ₹501 crore

Varun Beverages Ltd (VBL) reported a 32% YoY rise in consolidated net profit of ₹501 crore for the quarter ended September (Q3 CY23). The company follows the January-December financial year cycle. Its revenue from operations grew 22% YoY to ₹3,871 crore during the same period. EBITDA stood at ₹882 crore, up 26% YoY. VBL is PepsiCo’s second-largest franchisee outside the US.

Read more here.

Bata to retail Nine West shoes, accessories in India

Bata India will sell shoes and accessories of US-based lifestyle brand Nine West through its retail stores. The company’s board has approved a licensing and manufacturing deal with Authentic Brands Group for their world-renowned lifestyle brand, Nine West. Bata India will have rights to manufacture, market and distribute Nine West shoes and accessories, across India through its stores.

Read more here.

Shoemaker Bata India declared their Q1 FY21 results on Friday. The company reported an 85% fall in net sales year-on-year (YoY). A massive fall in the bottom line also forced the company to report net loss of Rs 101.13 crore. Last June, Bata India reported a net profit of Rs 100.73 crore.

	Q1 FY21	Q4 FY20	Q1 FY20	QoQ	YoY
Revenue	134.79	619.70	882.14	-78.24%	-84.72%
Profit	-101.13	37.61	100.73	-369%	-200%

Values in Crore Rupees

About the Company

Bata India is the leading footwear manufacturer in India. They are also the largest footwear retailer in the country. The company was set-up in Calcutta in 1932. It went public after 40 years in 1973. The company currently has around 1500 retail stores. Also, they cater the customers through non-retail stores with the aid of 30,000 dealers.

Quarter Review

Company’s total expenses also registered a fall of 56.72% from Rs 743 crore to Rs 321 crore. This helped in limiting the damage to the bottom line of the company.

“Results in the first quarter of FY 2020-21 were severely impacted because of disruptions caused by the ongoing COVID-19 pandemic. We re-started our operations keeping the safety of our customers and employees in mind and line with government and our global standards. The results have to be viewed in this context.” said Bata.

Bata India CEO, Sandeep Kataria, also stated that this was one of the most unprecedented quarter in the history of the company. The production lines were completely shut due to the national lockdown and the sales dropped drastically low.

Bata is now focussing on increasing their digital presence. They are in discussion to put more of their items on e-commerce platforms. They are also ready to launch two local channels of shopping: Bata Chat Shop and Bata Stores on Wheel. The former one will help in shopping over the medium of Whatsapp. The latter will allow customers to shop at their doorsteps.

It will be interesting to see how the company deals with opening up of shops and their production houses, without compromising on the social distancing measures. You can find the quarterly results here.