Weak distribution channel drags down performance

Company
03 Jun 2024
5 Min read 
  • Bata India's 4QFY24 results update includes changes in estimates, target price, and rating.
  •  Revenue grew 2% YoY, but weak distribution channel dragged down performance.
  •  Gross margins improved, but weak SSSG and high SG&A led to EBITDA margin contraction.
  •  Persistent softness in the value segment remains a drag on growth.
  •  Management aims for double-digit revenue growth and steady marketing costs.
  •  The company plans to expand in tier-3/tier-4 cities and improve its product portfolio.
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