Buy Bata India; target of Rs 2065: ICICI Direct

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ICICI Direct's research report on Bata India

Bata India is a major player in the Indian footwear market with a presence across men’s, women’s and kid’s footwear segment. It has a pan-India presence with the largest network of retail stores having 1700+ stores. Bata has a vision to open 500 franchise stores over the next few years (current: 300). It has a robust balance sheet with healthy cash and bank balance worth Rs 946+ crore, negative working capital cycle and generating RoCE of 20%+.

Outlook

We maintain BUY recommendation on the stock and value Bata at Rs 2065 i.e. 50x FY24E EPS.

For all recommendations report, click here

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

Bata India - 16 -11-2022 - icici