Execution key as Bata India eyes expansion, change in product mix

The company has been underperforming peers on the growth front over the FY19-22 period

Footwear maker Bata India’s revenue rose about 13 per cent year-on-year (YoY) in the March quarter (Q4FY22), coming to the pre-pandemic level of Q4FY19. Though sales were impacted by the disruption caused by the Omicron variant’s spread, improved consumer sentiment led to a pick-up in the second half of the quarter.

Despite the recovery, top line growth, which came on a benign base, missed the Street estimates as the company ended FY22 with a revenue growth of 40 per cent.

The company’s sales were driven largely by value growth, with significant contributions from price hikes and improved product mix. Sneakers now account