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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹788 Cr
verified against source
Revenue YoY
-1.2%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Bata India's Q4 FY25 revenue declined 1.2% YoY to INR 788 crore, with PAT down 215 bps to INR 46 crore. EBITDA margin contracted 14 bps to 25.5%, impacted by gross margin erosion of 230 bps due to channel mix shift and value investments. Management highlighted progress on zero-based merchandising (146 stores), inventory reduction (16% YoY), and volume growth in mid-single digits. Floats revenue crossed INR 100 crore and is expected to reach INR 200 crore this year. Guidance points to higher store additions and continued inventory agility. Risk: sustained demand weakness could delay volume-led revenue recovery.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects store additions in FY26 to exceed the ~100 stores added in FY25, with an 80:20 franchise-to-COCO mix.
- Target to expand ZBM to ~300 stores by June 2025, covering ~45-50% of retail turnover.
- Floats brand revenue, which crossed INR 100 crore in FY25, is expected to double to INR 200 crore in FY26.
- Inventory reduction and quality improvement will continue, with aged inventory targeted to reach best-in-class levels of 2-3%.
Risks flagged
- Muted demand environment may delay volume-led revenue recovery despite operational improvements.
- Shift towards franchise and e-commerce, along with value proposition initiatives, may continue to pressure gross margins.
- ZBM rollout was behind initial target of 250 stores by Q4; scaling to 300+ by June may face challenges.
Key quotes
- We want to make sure Bata is the heart of our consumer base, which is basically the middle-class Indian.
- We want over the next not only two years, but also five years to make sure that it's a volume-driven growth trajectory overall.
- The overall cost structure, which is including your employee expenses, finance cost, depreciation, and other expenses, overall the spend is marginally lower versus last year.
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