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Buy Bata India target of Rs 1905: Sharekhan

Sharekhan is bullish on Bata India has recommended buy rating on the stock with a target price of Rs 1905 in its research report dated June 10, 2021.

June 14, 2021 / 04:32 PM IST
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Sharekhan's research report on Bata India

Bata India’s (Bata) Q4FY2021 business recovered to ~95% of pre-COVID levels, better than a 74% revival in Q3FY2021. Due to the quarter’s seasonality, revenue declined by 4% q-o-q. Gross margins stood at 53.1% versus 58.8% in Q4FY2020 affected by an unfavourable mix as formals and fashion categories are yet to revive. OPM stood at 19.0% versus 22.4% in Q4FY2020. Bata continued investing on brand-building (appointed Kartik Aryan as brand ambassador) and network expansion (opened 10 new stores and expanded its reach in the e-commerce and omni-channels).


We maintain a Buy rating on stock with a revised PT of Rs. 1,905. Stock is currently trading at 46x its FY2023E EPS and 19.8x its FY2023 EV/EBIDTA.

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 14, 2021 04:32 pm

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