The street is working with a weak set of first-quarter numbers from Bata India. Over the last 12 months both formal and fashion footwear hasn’t done well but open leisure footwear has done well. Despite this the stock is record high on back of few other triggers.

Street is expecting revenues to grow by 92.5 percent at Rs 260 crore versus Rs 135.1 crore for the same period last fiscal but will be a big decline quarter on quarter. As a result of second COVID wave the EBITDA loss is seen at Rs 45 crore versus loss of Rs 85.8 crore year on year. The net loss that the company will post would be close to Rs 80 crore versus 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.

The big trigger for Bata is also the new CEO coming in from Britannia – Gunjan Shah and what he would do to turn around the business, as well the new CFO who came in from Puma India, Vidhya Srinivasan.

For more, watch video

(Edited by : Aditi Gautam)