India · Delayed Price · Currency is INR Bata India Earnings Call Transcripts
Fiscal Year 2026
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Second consecutive quarter of volume-led growth, with adjusted PBT up 11% year-over-year and strong cash flow. E-commerce and franchise channels expanded, inventory reduced, and premium brands like Hush Puppies accelerated. Raw material inflation and wage hikes are being monitored.
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Turnover grew 3% year-over-year, with EBITDA margin up 200 bps and strong e-commerce growth. Premium brands and franchise expansion drove performance, while inventory efficiency improved and exports are set for significant growth.
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Revenue declined 4% YoY due to GST transition and distribution center disruption, with gross margin down 150 bps but sequentially improved. Inventory health and store experience initiatives progressed, and management expects margin recovery as one-offs subside.
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Revenue and volume remained flat in Q1 FY26, with gross margin down 133 bps and EBITDA margin at 22.9%. Key initiatives in merchandising, value, and premiumization are expected to drive future growth, while inventory and cost controls continue to support profitability.
Fiscal Year 2025
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Revenue declined 1.2% YoY amid muted demand, but operational efficiency improved with inventory down 16% and strong growth in premium and value portfolios. Store expansion and zero-based merchandising are set to accelerate, supporting a volume-driven growth outlook.
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Revenue grew 1.7% YoY to INR 918.55 crores with gross margin and EBITDA margin expanding. Floatz and Power brands led growth, while aggressive inventory management improved availability and reduced aged stock. ZBM rollout and store additions are set to accelerate next quarter.
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Q4 FY23 sales declined 1.4% year-over-year, with franchise and e-commerce channels outperforming while distribution lagged. Premium and casual categories drove growth, inventory management improved, and new store and brand expansions are expected to boost future momentum.