Bata India expands footprint but performs below expectations in Q1

Footwear manufacturer trails peers on 3-year growth parameter

The April-June quarter (first quarter, or Q1) of 2022-23 (FY23) performance of footwear major Bata India was below expectations.

While the sales trajectory over a three-year period was weaker than key peers, its operational performance, too, disappointed the Street.

Some brokerages have cut their operating and net profit estimates 5-10 per cent for FY23 and 2023-24 after Q1 performance.

Although the company has outlined multiple initiatives on various segments, product, and distribution, the Street will await results of the same.

The stock has corrected about 5 per cent from its highs in August and an upward trend in