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.

June 01, 2020 / 01:46 PM IST
  • bselive
  • nselive
Todays L/H

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.


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

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jun 1, 2020 01:46 pm

stay updated

Get Daily News on your Browser