12th August 2021, Mumbai:
Bata India’s Q1FY22 revenues is expected to grow 92.5 per cent at Rs 260 crore as against Rs 135.1 crore for the same period last fiscal though the brand’s revenues are likely to decline quarter on quarter. The company’s EBITDA during Q1 FY22 is likely to decline to Rs 45 crore year-on-year against Rs 85.8 crorer. Its net loss is expected to widen to Rs 80 crore against a loss of Rs 108 crore YoY.
Management commentary on demand will be the key focus and street would also focus on store opening and opening up of cities from June 2021. Bata India recently appointed Gunjan Shah, Chief Commercial Officer as its new CEO and Vidhya Srinivasan, Executive Director, Puma India as its new CFO. The company was incorporated as Bata Shoe Company in 1931, In January 1934, the foundation stone for the first building of Bata’s operation - now called the Bata was laid. In the years that followed, the overall site was doubled in area. This township is popularly known as Batanagar. It was also the first manufacturing facility in the Indian shoe industry to receive the ISO: 9001 certification.
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