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Last Updated : Jun 01, 2020 01:46 PM IST | Source: Moneycontrol.com

Buy Bata India target of Rs 1600: Anand Rathi

Anand Rathi is bullish on Bata India has recommended buy rating on the stock with a target price of Rs 1600 in its research report dated May 30, 2020.

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Anand Rathi 's research report on Bata India


Bata India Ltd. reported consolidated revenues of Rs.6,206 million in Q4FY20, down 8.8% year over year (y/y) mainly due to closure of the company's stores owing to the lockdown in last fortnight of March 2020. Consolidated EBITDA grew 47% y/y to Rs.1,397 million while margins improved to 22.5% from 14% in the previous year quarter. The higher margins primarily reflects adoption of Ind-AS 116 by the company. Profit after tax (PAT) declined 56.7% y/y to Rs.384 million in Q4FY20. Notably, the previous year quarter included one-time tax reversal of Rs.199.3 million.



Outlook


We have incorporated latest quarterly numbers and have revised our estimates for the company. We continue to remain positive on the company and maintain BUY rating with a revised target price of Rs.1,600 per share.





For all recommendations report, click here


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First Published on Jun 1, 2020 01:46 pm
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