Buy Bata India: target of Rs 2370: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Bata India

Bata is eyeing growth through its strategic levers of maintaining a relevant product portfolio, expanding its network, becoming an aspirational brand for youth, increasing digital footprint, creating an efficient supply chain, and curbing costs. Casuals’ portfolio fetched 30% of pre-COVID revenue; share has risen to 40% now. Bata aims to build a portfolio with focus on casualisation. Bata had 270 franchise stores in mid-November; it plans to add over 150 more, taking store count to over 500 in 2-3 years.

Outlook

We maintain Buy on stock with an unchanged PT of Rs. 2,370. Bata trades at 52.5x/45x its FY2023E/FY2024E EPS and 22.8x/19.6x its FY2023E/FY2024E EV/EBIDTA.

For all recommendations report, click here

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