Gunjan Shah

We saw turnover growth of about 3% this quarter, it's been welcome after some time. We do see signs of momentum and green shoots.

The biggest one, not a hard decision but the one with the longest gestation, is the product piece.

We would have at least reported a flat revenue versus a 4% decline what we're seeing right now from a top-line perspective.

We have seemingly cracked the model of moving this much faster, so instead of doing almost about 60-70 stores a quarter, we should be accelerating much faster now.

While overarching, the quarter was a relatively tough one. It seemed a little better than what we had seen in the previous quarter of June to March. It still resulted in only flattish kind of a growth.

The lower price point, less than INR 1,000, is where the stress is, and that's where we want to basically keep accelerating ourselves while we push the premium part separately.

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.

We actually sucked out the stocks, but we had not put in the fresh stocks sufficiently. And we actually lost sales for a week, and which is criminal.

The core will be to make sure that 1,250-store Bata banner keeps growing.

We have also closed unprofitable stores, right? Stores which were diluting from, let's say, like-for-like growth within the town.

It's been overall a relatively tough quarter, reflecting in our sales for a long time having dipped actually negative to -1%.