Bata India

BSell / Avoid

BATAINDIA · NSE · Mid Cap · Modern Trade — Specialty

Modern Trade — Specialty

Fetching live…

₹1,320

1D -0.5%1M -2.5%1Y -18%

Fundamental (RQ-100)

Technical (TQ-100)

Valuation

Market cap

₹17.0K Cr

Live decision ratingBSell / Avoid

Fundamental score breakdown

61/100

Growth Quality

5.0 / 20

Rev 1Y 1.0%, 3Y CAGR 6.0%, 5Y CAGR 2.0%

Margin & Profitability

10.3 / 15

EBITDA 22.0%, PAT 6.0%

Return on Capital

11.0 / 20

ROCE 14.0%, ROE 14.0%

Cash Flow Quality

10.0 / 15

OCF/EBITDA 0.78

Leverage

10.0 / 10

ND/EBITDA -0.40

Reinvestment

6.0 / 8

Capex/Sales 3.0%

Accounting

5.0 / 7

Governance

4.0 / 5

Technical score breakdown

38/100

Trend Structure

8.0 / 20

↓ 200 · ↓ 50 · ↓ 20

Momentum

5.0 / 15

1Y -18.0%, 1M -2.5%

Volume Dynamics

8.0 / 15

Vol30 —%

Relative Strength

2.0 / 15

1Y -18.0%

MA Cluster

5.0 / 10

Extension

5.0 / 10

—% from 50DMA

Volatility

4.0 / 8

Price Action

1.0 / 7

-100.0% from 52W H

Business

What this company actually does

India's largest organized footwear retailer.

Stores

1,900

Dark stores

—

Cities

—

Listed status

Listed

Format exposure

How direct is this play?

Primary formatModern Trade — Specialty

Exposure typeDominant

Revenue visibilityHigh

Operating leverage stageMaturity

Policy beneficiaryNone

Data confidenceMedium

Financial snapshot

Live · green dot = live, falls back to curated

Revenue

₹3.5K Cr

Rev 1Y growth

Rev 3Y CAGR

EBITDA margin

22.0%

PAT margin

6.0%

ROE

14%

ROCE

14%

OCF/EBITDA

0.78

Net Debt/EBITDA

-0.4

Financial statements

Multi-year P&L, balance sheet, cash flow — scraped live from Screener.in

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Valuation

Live multiples + retail-specific (curated)

P/E

Forward P/E

EV/EBITDA

EV/Sales

4.8

P/B

8.0

FCF Yield

2.7%

Trading below 25× EV/EBITDA — relatively reasonable for this segment.

Retail KPIs

The unit-economics that define the format

SSSG

-2.0%

Investment thesis

AI-generated · always cite sources before acting

Bull

Long-runway TAM with structural tailwinds.

Base

Earnings growth of ~7% over the next 3 years assuming margins hold. Multiple compression risk if growth slows; multiple expansion possible if Modern Trade — Specialty GMV outperforms.

Bear

Format-level risk: regulation, gig-cess, or competitive pressure compress contribution margin.

Variant perception

Consensus views Bata India as a challenged player. Our differentiated take: the current multiple already prices in mid-cycle outcomes.

Key monitorables

Quarterly contribution margin trajectory
SSSG vs guidance
Capex vs store/dark-store adds
Promoter holding and ESOP dilution

Peers

Same primary format · sorted by market cap