Neutral on Bata India, target price Rs 1,240: Motilal Oswal Financial Services

Motilal Oswal Financial Services has a neutral call on Bata India with a target price of Rs 1240. The current market price of Bata India Ltd. is Rs 1390.9. Bata India, incorporated in 1931, is a Large Cap company with a market cap of Rs 17900.03 crore, operating in Leather sector.

Bata India's key products/revenue segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2024.

Financials

For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 854.33 crore, down -11.09% from last quarter Total Income of Rs 960.87 crore and up 2.36% from last year same quarter Total Income of Rs 834.62 crore. The company has reported net profit after tax of Rs 51.98 Crore in latest quarter.

The company's top management includes Mr.Ashwani Windlass, Mr.Gunjan Shah, Mr.Anil Somani, Mr.Akshay Chudasama, Mr.Ashok Kumar Barat, Ms.Radha Rajappa, Mr.Mukesh Butani, Mr.Gerd Graehsler, Ms.Kanchan Chehal, Mr.Ravindra Dhariwal, Mr.Ashwani Windlass, Mr.Shaibal Sinha, Mr.Gunjan Shah, Mr.Anil Somani, Mr.Akshay Chudasama, Mr.Ashok Kumar Barat, Ms.Radha Rajappa, Mr.Mukesh Butani, Mr.Gerd Graehsler, Ms.Kanchan Chehal, Mr.Ravindra Dhariwal, Mr.Shaibal Sinha. Company has Price Waterhouse Chartered Accountants LLP as its auditors. As on 30-09-2024, the company has a total of 13 crore shares outstanding.

Promoter/FII Holdings
Promoters held 50.16 per cent stake in the company as of 30-Sep-2024, while FIIs owned 8.81 per cent, DIIs 27.11 per cent.