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COMPANY PROFILE
Bata India Limited
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PUBLICATION DATE: 06 Sep 2017
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Bata India Limited
TABLE OF CONTENTS
TABLE OF CONTENTS
Company Overview ........................................................................................................3

Key Facts ......................................................................................................................... 3
Tickers ............................................................................................................................. 4
Business Description .....................................................................................................5
Corporate Strategy .........................................................................................................6
History ............................................................................................................................. 7
Key Employees .............................................................................................................13
Key Employee Biographies .........................................................................................14
Major Products & Services ..........................................................................................15
SWOT Analysis .............................................................................................................17
Top Competitors ...........................................................................................................22
Company View ..............................................................................................................23
Locations And Subsidaries .........................................................................................25
Financial Overview .......................................................................................................28
Bata India Limited Page 2

MarketLine
Bata India Limited
Company Overview
Company Overview
COMPANY OVERVIEW
Bata India Limited (Bata India) is a producer, wholesaler and retailer of footwear and related accessories.
The companys product portfolio consists of a comprehensive range of footwear products including
slippers, sandals, formal wear shoes, casual wear shoes, infants shoes and sport shoes for men, women
and children, and accessories such as school bags, socks, hand bags, belts, polishes and brushes. Bata
India offers these products under various brands including Bata, Ambassador, Comfit, Moccasino, Marie
Claire, Naturalizer, Pata Pata, Sundrop, Bubblegummer, Disney, Power, North Star, Hush Puppies,
Scholl, Footin and Weinbrenner. The company also provides several services such as repairs, gift cards,
and various discount offers. Bata India is headquartered in Gurgaon, Haryana, India.
The company reported revenues of (Rupee) INR25,043.4 million for the fiscal year ended March 2017
(FY2017), an increase of 2% over FY2016. In FY2017, the companys operating margin was 7.9%,
compared to an operating margin of 7.5% in FY2016. In FY2017, the company recorded a net margin of
6.3%, compared to a net margin of 8.9% in FY2016.
Key Facts
KEY FACTS
Head Office Bata India Limited

Bata House, 418/02
M. G. Road, Sector - 17
Mehrauli Gurgaon Road.
Gurgaon
Haryana
Gurgaon
Haryana
IND
Phone 91 124 3990100
Fax 91 124 3990116
Web Address www.bata.in
Revenue / turnover (INR Mn) 25,043.4
Revenue (USD Mn) 373.3
Financial Year End March
Employees 4,796
National Stock Exchange of India BATAINDIA
Ticker

MarketLine
Bata India Limited
Company Overview
Tickers
TICKERS
10000003

MarketLine
Bata India Limited
Company Overview
Business Description
BUSINESS DESCRIPTION
Bata India Limited (Bata India) is involved in manufacturing, wholesaling and retailing of footwear
products in India. It is a part of Bata Shoe Organization, operating under its strategic business unit Bata
Emerging Markets.
The company offers a wide range of footwear and related accessories under established and company-
owned brands. Its company-owned brand portfolio comprises Bata, Ambassador, Comfit, Moccasino,
Marie Claire, Naturalizer, Pata Pata, Sundrop, Bubblegummer, Disney, Power, North Star, Hush Puppies,
Scholl, Footin and Weinbrenner.
For women, it offers accessories, chappals, closed shoes, sandals and sportswear under various brands
including Bata, Comfit, Disney, Footin, Hush Puppies, Marie Claire, Naturalizer, North Star, Patapata,
Power, Scholl and Sundrops. The company under men category provides accessories, boots, casual
shoes, chappals, formal shoes, outdoor, sandals and sportswear under Bata, Comfit, Footin, Hush
Puppies, North Star, Power, Scholl and Weinbrenner brands. Under kids category, Bata India offers
various shoe and chappal for boys, girls under Bata, Bubblegummers, Disney and Power brands.
It also retails its merchandise through an e-commerce site www.bata.in. The company also offers its
products through third party e-commerce website such as Flipkart, Snapdeal, Jabong, E-bay, Amazon,
HomeShop18, Myntra, Rediff and Indiatimes.
The company classifies its business operations under two reportable segments such as Footwear and
Accessories and Surplus Property Development.
Bata Indias Footwear and Accessories segment is involved in manufacturing and trading of footwear and
accessories through its retail and wholesale network. The company operates this segment under two
divisions namely Retail and Non-Retail. Under Retail division, it operates over 1,293 retail stores in 750
cities covering a retail space of 2.62 million sq. ft which are located mainly in Malls, High Street locations
and in the Tier-2 and Tier-3 cities across India.
Non-Retail division of Bata India comprises of urban wholesale, industrial and institutional business
divisions. The urban wholesale business operates through a network of 400 distributors across India. It
also sells its products through wholesale network of 30,000 shoe dealers across India. The company
through institutional sales customizes shoes to corporate customers according to specific requirements by
various clients and industry bodies. In FY2017, the Footwear and Accessories Retail division accounted
for 87.5% of the companys total revenue followed by Non-Retail division accounted for 12.5% of the
companys total revenue.
The Surplus Property Development segment involved in the development of real estate at Batanagar, a
township situated in Konnagar, near Kolkata, which is managed and operated by the company.
Bata India manages four manufacturing facilities in Batagunj, Bihar; Batanagar, West Bengal; Bangalore,
Karnataka; and Hosur, Tamil Nadu; of which, the Batanagar, West Bengal manufacturing unit was the
first unit in the Indian shoe industry to receive ISO 9001 certification for quality management.

MarketLine
Bata India Limited
Company Overview
Corporate Strategy
CORPORATE STRATEGY
Bata India intends to expand its business operations through two dual strategies which include same
store growth and new store openings in under-served locations and cities. The companys strategy
encompasses maximizing its reach to customers through various channels by understanding the
demands of customers. In view of this, it plans to focus on smaller towns to launch more stores with a
different design and look.
In line, it opened stores in Thodupuzha and Angamaly- Tier 2 towns near Kochi, Kerala. In FY2017, the
company opened 100 new retail stores and 25 franchise stores. In FY2018, it plans to open 100 retail
stores and 50 franchise stores across India.
Bata India to expand its presence it also plans to launch various new products under womens and
childrens category based on consumers needs and insights and lifestyles. To increase childrens
category of products, it built a wide portfolio covering different occasions like school, sports, outdoor,
indoor, etc. under Bubblegummers and Disney brands.

MarketLine
Bata India Limited
Company Overview
History
HISTORY
Plans/Strategy
Year: 2017
The company plans to open 100 new retail stores and 50 franchise stores.
Plans/Strategy
Year: 2016
The company plans to close its remaining 29 stores in Switzerland as part of its ongoing restructuring
strategy.
Corporate Changes/Expansions
Year: 2016
The company opened 100 new retail stores and 25 franchise stores across India.
Year: 2015
The company opened 159 new stores.
Plans/Strategy
Year: 2015
The company plans to open 100 new stores in FY2016.
Year: 2014
The company opened its First Global Concept Store at The DLF Place, Saket in India.
Corporate Awards
Year: 2014

MarketLine
Bata India Limited
Company Overview
The company received the Most Trusted Brand and Udyog Rattan awards.
Others
Year: 2013
The company ranked 11 in the Most Attractive Brand of 2013.
Year: 2013
The company opened 95 new stores including eight FOOTIN stores.
Year: 2012
The company opened 189 new stores including 10 FOOTIN and 15 Hush Puppies branded stores.
Year: 2012
The company launched online shopping website.
New Products/Services
Year: 2012
The company launched new brands such as Sundrops and Angry Birds.
Business / Operations Closure
Year: 2012
The company closed/relocated 60 existing stores.
Corporate Awards
Year: 2011
The company received the Most Admired Footwear Brand of the year from Images Fashion Forum.

MarketLine
Bata India Limited
Company Overview
Year: 2011
The company opened a new large format store in Ludhiana, India.
Corporate Awards
Year: 2010
The company won the Consumer Awards 2010 as India's Most Preferred Retailer given by CNBC
Awaaz.
Corporate Awards
Year: 2009
The company won the prestigious Images award for the Most Admired Retailer of the Year Fashion &
Lifestyle.
Corporate Awards
Year: 2008
The company received The Amity Corporate Excellence award and Images Retail award.
Corporate Awards
Year: 2007
The company won the FMCG Consumer Reaction Award in Fashion & Specialties (Shoes), presented by
Bharati Vidyapeeth's Institute of Management Studies & Research.
Corporate Awards
Year: 2007
The company was named as the years Most Admired Brand in the footwear category by the Lycra
Images Fashion Awards, for the third consecutive year.
Year: 2007
Bata India established a new flagship store in Thiruvananthapuram, Kerala, India.

MarketLine
Bata India Limited
Company Overview
Corporate Awards
Year: 2006
The company received the Retailer of the Year award in the footwear category, as part of the Reid &
Taylor Awards for Retail Excellence during the 2006 India Retail Summit.
Corporate Awards
Year: 2005
The company won the Top Retailer 2006 India Bronze award at the Retail Asia-Pacific Top 500 awards
ceremony.
Others
Year: 2005
The company was named as one of the first top 10 Super Brands of India.
Year: 2004
The company established its new flagship store in Mumbai, Maharashtra, India.
Contracts/Agreements
Year: 2003
The company formed a partnership with Lee Cooper to retail the brands shoes.
Year: 1999
The company launched the Sundrops line at New Delhi, India.
Year: 1997
The company signed an agreement to retail Nike products at selected Bata outlets.

MarketLine
Bata India Limited
Company Overview
Year: 1992
The company established an export-oriented unit at Hosur, Tamil Nadu, India.
Year: 1989
The company launched the Adidas collection of sports footwear.
Year: 1988
The company entered into an agreement with Adidas of West Germany to manufacture and market sports
and special-application footwear, sports goods and sportswear in India.
Year: 1988
The company launched the Star clothing range, designed by Murjani International and sourced through
Inmark Brands Pvt Ltd.
Year: 1973
The Bata Shoe Company Private Limited was renamed as Bata India Limited.
Stock Listings/IPO
Year: 1973
The companys shares were listed on the Bombay Stock Exchange.
Year: 1952
The company established a factory in Faridabad, Haryana, India.

MarketLine
Bata India Limited
Company Overview
Year: 1942
The company established a leather footwear factory at Patna, Bihar, India.
Year: 1937
The company launched leather products.
Incorporation/Establishment
Year: 1931
Bata India Limited was established as Bata Shoe Company Private Limited.

MarketLine
Bata India Limited
Company Overview
Key Employees
KEY EMPLOYEES
Name Job Title Board

Vinod Kumar Mangla Assistant Vice President - Internal Senior Management
Audit
Uday Khanna Chairman Executive Board
Juan Pablo Malaver Chief Collection Manager Senior Management
Rajeev Gopalakrishnan Chief Executive Officer, Managing Executive Board
Director
Ram Kumar Gupta Chief Financial Officer, Director- Senior Management
Finance
Uttam Kumar Chief Merchandising Manager Senior Management
Maloy Kumar Gupta Compliance Officer , Secretary Senior Management
Akshay Chudasama Director Non Executive Board
Anjali Bansal Director Non Executive Board
Ravindra Dhariwal Director Non Executive Board
Shaibal Sinha Director Non Executive Board
Christopher MacDonald Kirk Director Non Executive Board
Inderpreet Singh Head-Retail Senior Management
Vikas Baijal Senior Vice President-Human Senior Management
Resource
Sanjay Kanth Senior Vice President-Manufacturing Senior Management
Kumar Sambhav Vice President-eCommerce Senior Management
Vijay Gogate Vice President-Famous Brands & Senior Management
Retail Operations (FSC)
Rupesh Bhagchandani Vice President-Franchisee Senior Management
Operations
Raman Krishnamoorthy Vice President-Information Senior Management
Technology
Manoj Goswani Vice President-Legal Senior Management
Anand Narang Vice President-Marketing and Senior Management
Consumer Services
Amitabh Coomar Vice President-Non-Retail Senior Management
Joshi Kiran Vice President-Procurement Senior Management
Matteo Lambert Vice President-Product Senior Management
Development and Research
Ankur Kohli Vice President-Real Estate Senior Management
Ankur Rastogi Vice President-Sourcing Senior Management

MarketLine
Bata India Limited
Company Overview
Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
Uday Khanna
Board:Executive Board
Job Title:Chairman
Mr. Uday Khanna is the Chairman of the company. Prior to this, he served as the Non-Executive
Chairman from 2011 to 2014 and as Managing Director and Chief Executive Officer of Lafarge India from
2005 to 2011. Earlier, he served as the Senior Vice President for Group Strategy of Lafarge Group. Mr.
Khanna also serves on the Board of Castrol India Ltd., Pfizer Ltd., DSP BlackRock Investment Managers
Pvt. Ltd., Pidilite Industries Ltd. and Kotak Mahindra Bank Ltd.
Rajeev Gopalakrishnan
Board:Executive Board
Job Title:Chief Executive Officer, Managing Director
Age:52
Mr. Rajeev Gopalakrishnan is the Chief Executive Officer and the Managing Director of the company.
Prior to this, he served as the Managing Director of Bata Bangladesh, Managing Director - Bata Retail
Stores and also the Managing Director for Bata Thailand. Earlier, he held various positions including
Director of Wholesale Channels, Sales and Marketing of Bata International in Canada and the Vice
President of Bata India Limited for Retail Operations and Wholesale Division. Mr. Gopalakrishnan joined
Bata in 1990.
Ram Kumar Gupta
Board:Senior Management
Job Title:Chief Financial Officer, Director-Finance
Since:2015
Age:58
Mr. Ram Kumar Gupta has been the Chief Financial Officer and the Director of Finance of the company
since 2015. Prior to this, he served as the Director - Finance of Bata Shoe Company Kenya Ltd. from
2013 to 2015. Previously, he served as the Senior Vice President - Finance of the company from 2011 to
2013. Mr. Gupta joined the company in 1986.

MarketLine
Bata India Limited
Company Overview
Major Products & Services
MAJOR PRODUCTS & SERVICES

Bata India is a manufacturer, wholesaler and retailer of footwear and related accessories. The major
products and services offered by the company include the following:
Products:
Footwear:
Slippers
Sandals
Formal Shoes
Casual Shoes
Infants Shoes
Sports Shoes
Accessories:
Bags
Socks
Belts
Show Polishes
Brushes
Hand Bags
Services:
Repairs
Gifts Cards
Discounts
E-retail
Home Delivery
Brands:
Bata
Comfit
Naturalizer
Pata Pata
Disney
Hush Puppies
Sundrop
Footin
Bubblegummer
Ambassador
Moccasino
Marie Claire

MarketLine
Bata India Limited
Company Overview
Power
North Star
Scholl
Weinbrenner

MarketLine
Bata India Limited
Company Overview
SWOT Analysis
SWOT ANALYSIS
Bata India Limited (Bata India) manufactures and trades footwear and accessories through its retail and
wholesale network. Industry recognition, revenue, offerings and multiple channels selling are the main
strengths of the company, whereas low inventory turnover ratio and lack of focus on overseas operations
remains an area of concern. In the future, risks associated with changes in fashion trends, increasing
wage rate and stringent regulation could affect its growth prospects. However, growing global footwear
market, expanding retail market in India, expanding e-retail market in India and rising demand for private
labels are likely to offer ample growth opportunities to the company.
Strength Weakness
Revenue Growth Inventory Turnover Ratio

Offerings Lack of Focus on Overseas Operations
Multiple Channels Selling
Industry Recognition
Opportunity Threat
Expanding E-Retail Market in India Changes in Fashion Trends

Private Label Gaining Momentum Stringent Regulation
Expanding Retail Market in India Intense Competition
Growing Global Footwear Market
Strength
Revenue Growth
Bata India exhibited a steady revenue growth during the review year. Strong revenue performance
enables the companys ability to provide higher returns to its shareholders and also increases its ability to
allocate adequate funds for future growth initiatives. In FY2017, the company generated revenues of
INR25,043.4 million as compared to INR24,559.1 million in FY2016, with an annual growth of 2% over
FY2016. This growth in annual revenue was driven by increase in the store count by 100 and also due to
the opening of 23 franchise stores across India.
Offerings
The companys product and service offerings help it to serve diverse needs and preferences of customers
enhancing its top line performance. Bata Indias product portfolio includes a wide choice among slippers,
sandals, formal shoes, casual shoes, infants shoes and sports shoes. The company offers these
products under three categories including Mens, Womens and Kids. Under womens category, it offers
accessories, chappals, closed shoes, sandals and sportswear under several brands including Bata,
Comfit, Disney, Footin, Hush Puppies, Marie Claire, Naturalizer, North Star, Patapata, Power, Scholl and

MarketLine
Bata India Limited
Company Overview
Sundrops. Bata India under mens category provides accessories, boots, casual shoes, chappals, formal
shoes, outdoor, sandals and sportswear under Bata, Comfit, Footin, Hush Puppies, North Star, Power,
Scholl and Weinbrenner brands. The companys kids category offers various shoe and chappal for boys
and girls under Bata, Bubblegummers, Disney and Power brands. The company also offers repairs, gifts
cards, discounts, e-retail and home delivery services.
Multiple Channels Selling
The sale of merchandise through multiple channels increases the companys direct-to-consumer
business. Bata India enjoys a dominant market position, which provides it an edge over competitors while
attracting and retaining a loyal customer base. As of March 2017, the company operates over 1,293 retail
outlets across India in 750 cities covering a retail space of 2.62 million sq. ft. It also operates four
manufacturing facilities across India. These facilities holds a production capacity of 21 million footwear
pairs per annum and through its stores, Bata India sold more than 47 million footwear pairs. It also sells
its products through wholesale network of 30,000 shoe dealers across India. The company also
merchandises its products online through an ecommerce website www.bata.in. This dominant presence
in footwear retailing allows the company to enjoy an advantageous position over its competitors in terms
of long business relations with a wide network of suppliers and a strong brand image.
Industry Recognition
Bata India is one of the prominent footwear and related accessories retailer in India. The leading position
offers it a competitive edge over other players in the industry while attracting and retaining a loyal
customer base. The company's retail business has strong market positions in the India. The company
received a number of high-profile industry and consumer awards for its service quality. The company
offers a vast portfolio of footwear products, chappals, closed shoes, sandals and sportswear products. In
FY2017, it was awarded as the Top Indian Footwear Brand for 2017 in the footwear division by Dun &
Bradstreet. It also received Most Admired Retailer of the Year for 2016-17 in the footwear division by
Images Retail, India. Industry recognition enhances the companys brand image improving its revenues.
Weakness
Inventory Turnover Ratio
Bata India reported weak inventory turnover ratio during the review year. The decline in the turnover ratio
and higher inventory turnover days signify that the company incurs high inventory carrying costs, which
affect its operating performance. In FY2017, the company reported inventory turnover ratio of 1.7, lower
than one of its major competitor, Relaxo Footwears Limited (Relaxo) which reported a value of 3.2 during
the same period. Lower inventory turnover than competitors indicates that the company takes more days
to clear its inventory than its competitors. Bata India takes 210 days to sell its inventory compared to 116
days by Relaxo.
Lack of Focus on Overseas Operations
The companys operations are primarily focused in India and this could limit its revenue generation. In

MarketLine
Bata India Limited
Company Overview
FY2017, Bata India generates most of the companys total revenue from India. Dependence on the Indian
market makes the company vulnerable to economic, social, political and climatic instability in this region
and reduces demand for its products or prevents customers from coming to its stores. Any loss of sales
as a result of these factors may reduce the companys revenue generation. This also puts the company at
a disadvantage compared to geographically diversified companies such as Adidas Group, which operates
through 12,800 own-retail and franchised stores across 160 countries at the end of FY2017, and able to
offset revenue losses from one region with profits from another, and benefits from economies of scale
through centralized and bulk sourcing.
Opportunity
Expanding E-Retail Market in India
The company stands to benefit from growing online retail market in India. In FY2017, the company sold
more than 0.63 million pair of footwear products through online channels which generated revenues of
INR692 million accounting for 2.8% of the companys total revenue. Bata India also sells its merchandise
online through its website www.bata.in. The company also sells its products through third party websites
such as e-bay, jabong, flipkart, jungle and snapdeal. These initiatives are expected to strength its
presence across the country and enhance the companys capabilities to explore expanding Indian retail
market. According to the in-house research report, the online retail sales in India reached INR219 billion
in 2014 and are expected to grow at CAGR of 53.9% during 2014-19 which is expected to drive the
market to a value of INR1,282 billion by the end of 2019. Changing consumer trends, higher income
levels and an increasing desire for aspiration and luxury goods are responsible for the changing retail
sector, along with improving economic conditions creating a higher level of consumption among
consumers.
Private Label Gaining Momentum
The company stands to benefit from the increasing demand for private label products. Following a period
of slow and negative economic growth, private label sales are rising as consumers increasingly shop to a
budget. While price is a prime factor driving private label sales, improvements in packaging and quality
have helped to remove the stigma attached to buying store brands. As the company recently expanded
its private label brands such as Bata, Sundrop, Footin, Bubblegummer, Ambassador, Moccasino, Marie
Claire, Power, North Star, Scholl and Weinbrenner, it has a strong opportunity to increase its profit
margins in the future.
Expanding Retail Market in India
Bata India offers a wide range of footwear products through its retail stores which are spread across
India. In FY2017, the company invested INR512.3 million to enhance its foot wear and accessories
business of which it opened 100 new retail stores and 25 franchise stores across India. In FY2018, it
planned to open 100 new retail stores and 50 franchise stores in the Malls, High Street Markets and in the
Tier-2 and Tier-3 cities in India. These initiatives are expected to strengthen its presence across the
country and enhance the companys capabilities to explore expanding Indian retail market. Bata India
would get benefit from growth of retail spending and economic condition in India. According to in-house

MarketLine
Bata India Limited
Company Overview
research, retail market in India reached INR34,896 billion in 2014 and is expected to reach INR62,721
billion by 2019 growing at a CAGR of 12.4% during 2014-19. Food and grocery is expected to lead the
share with 62.7% of the total retail sales followed by electrical and electronics (9.3%), and clothing (7.2%)
will continue to be major product categories contributing to retail sales. Change in lifestyle, greater
employment opportunities in service sectors and increased industrial output have resulted in a new era of
consumerism with an increased per capita spending level.
Growing Global Footwear Market
Bata India offers different types of footwear through its portfolio of strong brands across various
geographies. The global footwear market has been growing at a moderate pace in the recent years and
the trend is expected to continue in the future. According to in-house research report, the global footwear
market had total revenues of US$1,493.1 billion in 2015, representing a compound annual growth rate
(CAGR) of 1.6% between 2010 and 2015. As per estimations, the global footwear market will grow at an
anticipated CAGR of 5% for the five-year period 201520, which is expected to drive the market to a
value of US$1,904.5 billion by the end of 2020. The US sales are expected to account for 41% of the
global total sales, followed by Asia-Pacific with 30%, Europe with 26% and remaining 3% from Middle
East and Africa. The growth will be primarily driven by growing world population, expanding base of
middle class consumers, rising standards of living, increasing household income and per capita spends.
Asia-Pacific represents the largest market in terms of volume sales and the third largest in terms of dollar
sales. The growing market also offers opportunity to increase market share beside sales.
Threat
Changes in Fashion Trends
The companys performance could be impacted by the frequent evolution in the fashion trends. The rate
of change in fashion trends has been increasing over the years, thereby forcing companies such as Bata
India to constantly update its product offerings with the latest market trends. To adopt the latest fashion
trends, customers often shift their loyalties to those brands that offer these trendy merchandises. Inability
of the company to change or update its collection, according to the fashion trends and varying customer
preferences, may negatively affect its brand image.
Stringent Regulation
Stringent regulations pose a challenge to retailers which might impede their growth. In India, the country
does not have heterogeneous rules and regulations, it keeps on changing state by state which result in
company has to adopt different pricing for each state that increase in cost to the company. In most of the
states in India, the companys registration is compulsory for all business whose annual turnovers is over
INR500,000, whereas in some states monetary limits of sales and purchases are also specified by state
VAT laws. The companies whose business lines are not involved in manufacturing of excisable goods
and also not engaged in providing taxable services are not eligible to offset any input service tax.
Imposition of new acts and policies by the government might escalate the operational cost of Bata India
and may affect its growth strategies.

MarketLine
Bata India Limited
Company Overview
Intense Competition
Bata India faces intense competition from both domestic and international companies in the Indian shoe
market. High competition in the market could force the company to increase its product differentiation by
offering merchandise at low prices and/or increase its promotional expenses, which might escalate its
operating costs. The companys major competitors include Liberty Shoes Limited, Metro Shoes Ltd, Mirza
International Limited, Relaxo Footwears Ltd and Adidas India Marketing Pvt. Ltd. The company also faces
competition from local malls and brand outlets. Furthermore, with India becoming an attractive retail
market, there is a gradual increase in the number of global giants such as Wal-Mart, showing interest in
the countrys retail market. Thus, there is rivalry among leading retailers for new locations and quality real
estate space, which is limited. These conditions may force the company to spend more to retain its
customers and acquire new locations, which may affects its profits.

MarketLine
Bata India Limited
Company Overview
Top Competitors
TOP COMPETITORS
The following companies are the major competitors of Bata India Limited
Action Footwear Pvt Ltd

Adidas India Marketing Pvt. Ltd.
Liberty Shoes Limited
Metro Shoes Ltd.
Mirza International Limited
Relaxo Footwears Ltd

MarketLine
Bata India Limited
Company Overview
Company View
COMPANY VIEW
A statement by Mr. Rajeev Gopalakrishnan, Chief Executive Officer and Managing Director of Bata India
Limited is given below. The statement has been taken from the companys 2016 annual report.
Dear Shareholders, It gives me immense pleasure to share with you an update on the overall
performance of your Company during 2016-17. Bata India Limited continues to be the market leader in
the organized footwear segment with a wide portfolio of products across different categories like Women,
Children, Youth, Sports and Men. In India, the demand of our shoes and accessories has been consistent
throughout the year but faced a temporary slow-down due to certain external factors beyond our control.
Despite the unknown setbacks, we have closed the Financial Year 2016-17 with a turnover of Rs. 24,972
Million.
As our customers become more and more demanding and the marketplace gets increasingly crowded,
we have realized that our best bet for winning is by offering a great product. And so for the past year we
have singularly focused on the strategy of Product is king! Here we have explored and identified for
ourselves a unique space, which is owning comfort with style as a brand. That has enabled us to not
only create comfort related innovations on large scale, but also add contemporary, sleek and quality
styling to our products.
After getting the product right, the other key milestone that we accomplished was to be commercially
aggressive. We have actively mapped the consumer preferences, fashion trends and demands to the
right target audiences through our over 1290 retail stores across 500 cities in India. Our offerings are
becoming more contemporary with comfort and wow pricing as strong differentiators. We have evolved
from building a wide range across multiple categories to now launching more flagship products and hero
collections across categories.
We have been following a dual strategy of driving same store growth and opening new stores in under-
served locations and cities. Geographically, the consumption story and the need for great shopping
experience are not limited to only the urban centres. In fact, non-urban markets are growing equally fast,
with consumers from Tier 2 and Tier 3 cities aspiring for better designs. Bata India has increased its focus
on smaller towns with internationally-designed stores being launched in these areas. The latest ones are
at Thodupuzha and Angamaly- Tier 2 towns near Kochi, Kerala. These large sized, modern concept
stores are unique with their clutter free aesthetics and visual impact which creates a truly international
shopping experience for our customers.
Now we are at the stage, even globally, where we are focusing on evolving Bata the Brand and to
encompass style and fashion very intrinsically as well. At present, we are developing the communication
across all touch points to convey Batas point of view on these attributes. We are also substantially
increasing our advertising budget for 2017. In recent past, there have been a range of stylish collections
launched, like the hand-crafted premium European Collection in Mens Dress space, The Buckline
collection giving a fashion fillip to Mens Business Casual range and the Festive range for party/marriage
wear for women. All these new initiatives were well received by our patrons and so it has made us
confident about our new focus.
Attracting and nurturing talent to build a robust pipeline of leadership has been an ongoing focus for the
Company. Our diversified workforce ranges from those at the forefront in our retail stores to those who
translate innovative ideas into products. Retaining and motivating the best people with the right skills at all
levels is the key focus to ensure that the organizations objective is accomplished.
This year, young women are the new focus market for Bata India. The first step was to sharply define our
audience and understand her aspirations so as to tailor-make our offering to excite and entice her. This

MarketLine
Bata India Limited
Company Overview
has helped shape our new brand manifesto to celebrate the modern woman. Our new television
campaign of Bata Me. And comfortable with it has been launched, highlighting the brands admiration
for women in a very special way and presenting a glimpse of the transformation in Batas image and
product line. At the product level our women focus is supported through our latest Bata Insolia range of
heels, with technology that enables women to walk taller, walk further. Leveraging on the patented
technology of Insolia owned by American company HBN Batas new line of heels can be worn three
times longer than regular heels and reduce the pressure on the front of the foot by almost 30%. This is a
benefit that no other brand can claim and our women customers are loving it.
But its not just the womens category which has kept our attention, the childrens category is also growing
at a very fast rate and offers a big opportunity for growth. We have made concrete plans to corner a major
share of this market and have built a wide portfolio covering different occasions like school, sports,
outdoor, indoor, etc. under Bubblegummers and Disney brands. The childrens category, which has been
the legacy of Bata, will be seeing further expansion in the coming times.
With majority of the population in India becoming younger, new ways to connect with the new customers
and launching new collections of footwear at a faster pace become imperative. The needs for footwear
are becoming increasingly specific, especially in sports and athleisure. We have always introduced our
products based on consumers needs and insights. Also with more and more people living healthier
lifestyles, we have launched the Power XoRise Collection with 4D mesh, memory foam, and Tunnel
technology for a run more, tire less proposition.
In another first, Bata India has partnered with fbb Colors Femina Miss India 2017 as their official
Footwear/Ramp walk partner, bringing Bata firmly in all style conversations throughout the pageant
season and beyond. Their 29 state winners also graced our key Bata stores all over the Country and
brought alive the conversation of styling, wardrobe and the need for great shoes in life!
Our achievements have further been encouraged and recognized by Dun & Bradstreet Corporate Award
as Top Indian Footwear Brand for 2017 and Images Retail Most Admired Retailer of the Year
Footwear for 2016-17. Last one year saw all of us at Bata constantly evolving with the changing times.
The consumers, going forward, will be more digitally savvy, craving for newer levels of experiences and
latest footwear solutions which are more customized and individualistic in approach and Bata India will
mirror these needs in all its offerings.
As always, I would like to take this opportunity to thank you for reposing your immense trust in us and
growing with us. We will continue to try and keep this journey as successful as it has been in the legacy
spanning more than eight decades.

MarketLine
Bata India Limited
Company Overview
Locations And Subsidaries
LOCATIONS AND SUBSIDARIES
Head Office
Bata India Limited

Bata House, 418/02
M. G. Road, Sector - 17
Mehrauli Gurgaon Road.
Gurgaon
Haryana
Gurgaon
Haryana
IND
Phone:91 124 3990100
Fax:91 124 3990116
www.bata.in
Other Locations and Subsidiaries
Bata Brands S.a.r.l. Bata India Limited

Avenue De Rhodanie 70 27B, Camac Street
Succursale De 1st Floor
Lausanne Kolkata
Lausanne West Bengal
CHE Kolkata
West Bengal
IND
Phone:91 33 22895796
Fax:91 33 22895748
Bata India Limited Bata Industrials Europe
7A, Beltala Road, 1st Floor Europaplein 1
Kolkata Noord-Brabant
West Bengal Noord-Brabant
Kolkata NLD
West Bengal
IND
Phone:91 33 24192641
Fax:91 33 24192642
Bata Malaysia Sdn Bhd Bata Properties Limited
3 1/4 Mile 6A, S.N. Banerjee Road
Jalan Kapar Kolkata
Klang West Bengal
Selangor Kolkata

MarketLine
Bata India Limited
Company Overview
Klang West Bengal

Selangor IND
MYS
Phone:60 3 33425411
Fax:60 3 33426034
bata.com.my
Bata Shoe (Singapore) Pte. Ltd. Bata Shoe Co. (Bangladesh) Ltd.
111 North Bridge Road #19-02 Peninsula Plaza Tongi
Singapore Gazipur
Singapore Gazipur
SGP BGD
Phone:65 6339 7000
Fax:65 6337 3000
www.bataintergroup.com
Bata Shoe Co. (Kenya) Ltd. Bata Shoe Co. Of Ceylon Ltd.
KEN 100, General Sir John Kotalawala Road,
Ratmalana
Ratmalana
LKA
Bata Shoe Company of Thailand PCL China Footwear Services Limited
35th floor CHN
1858-2, 1858-134-136 Bangna-Trad Road
Bangna
Bangkok
Bangkok
THA
Phone:66 2 3120341
www.bata.co.th
Coastal Commercial & Exim Limited Euro Footwear Holdings S.a.r.l
16A, Shakespeare Sarani LUX
Kolkata
West Bengal
Kolkata
West Bengal
IND
Futura Footwear Ltd. Global Footwear Services Pte Ltd.
1 Manchester Park 111 North Bridge Road
Manchester Road #19-04 Peninsula Plaza
Pinetown Singapore
Pinetown Singapore
ZAF SGP
International Footwear Investment B.V. Manufactura Boliviana S.A.
NLD BOL
Way Finders Brands Limited
204 Rashbehari Avenue

MarketLine
Bata India Limited
Company Overview
Kolkata
IND

MarketLine
Bata India Limited
Company Overview
Financial Overview
FINANCIAL OVERVIEW
Summarized Statement
*Note: Eliminations not included, all figures in Million except per share data.
Parameters Currency 2013 2014 2015 2016 2017

Income Statements
Total Revenue INR 20,651.74 0.00 26,939.95 24,559.12 25,043.36
Gross Profit INR 10,618.37 0.00 13,872.73 12,126.99 12,590.20
Operating Income INR 2,565.46 0.00 2,646.59 1,850.23 1,981.43
Net Income INR 1,909.04 0.00 2,313.41 2,173.90 1,589.51
Diluted Normalized EPS INR 15.59 0.00 16.28 12.92 13.84
Balance Sheet
Total Current Assets INR 9,231.61 0.00 10,252.09 11,576.22 13,619.11
Total Assets INR 13,820.22 0.00 16,208.10 17,330.57 19,231.38
Total Current Liabilities INR 4,628.73 0.00 4,680.85 4,092.60 4,948.44
Total Liabilities INR 5,421.48 0.00 5,658.45 5,121.33 5,988.15
Total Equity INR 8,398.74 0.00 10,549.65 12,209.24 13,243.23
Total Common Shares INR 128.53 0.00 128.53 128.53 128.53
Outstanding
Cash Flow
Cash from Operating Activities INR 1,825.04 0.00 1,187.62 2,036.42 2,565.05
Cash from Investing Activities INR -1,181.52 0.00 -660.37 -1,143.08 -2,288.18
Cash from Financing Activities INR -462.23 0.00 -504.27 -518.80 -556.97
Net Change in Cash INR 181.29 0.00 22.98 374.54 -280.10
Detailed Statement
*Note: Eliminations not included, all figures in Million except per share data.
Parameters Currency 2013 2014 2015 2016 2017

Income Statements
Revenue INR 20,651.74 0.00 26,939.95 24,559.12 25,043.36
Total Revenue INR 20,651.74 0.00 26,939.95 24,559.12 25,043.36
Cost of Revenue, Total INR 10,033.37 0.00 13,067.22 12,432.13 12,453.16
Gross Profit INR 10,618.37 0.00 13,872.73 12,126.99 12,590.20
Selling/ General/ Admin. INR 6,730.67 0.00 9,554.77 8,515.36 8,729.58
Expenses, Total
Research & Development INR 20.96 0.00 21.18 59.74 57.97

MarketLine
Bata India Limited
Company Overview
Depreciation/ Amortization INR 592.19 0.00 792.84 788.22 650.36

Unusual Expense (Income) INR 100.77 0.00 -76.06 167.31 216.69
Other Operating Expenses, Total INR 608.32 0.00 933.41 746.13 954.17
Total Operating Expense INR 18,086.28 0.00 24,293.36 22,708.89 23,061.93
Operating Income INR 2,565.46 0.00 2,646.59 1,850.23 1,981.43
Gain (Loss) on Sale of Assets INR -38.78 0.00 237.80 867.22 -62.65
Other, Net INR 123.08 0.00 184.53 1.91 20.36
Net Income Before Taxes INR 2,828.61 0.00 3,289.36 2,965.48 2,338.64
Provision for Income Taxes INR 919.57 0.00 975.95 791.58 749.13
Net Income After Taxes INR 1,909.04 0.00 2,313.41 2,173.90 1,589.51
Net Income Before Extra. Items INR 1,909.04 0.00 2,313.41 2,173.90 1,589.51
Net Income INR 1,909.04 0.00 2,313.41 2,173.90 1,589.51
Income Available to Com Excl INR 1,909.04 0.00 2,313.41 2,173.90 1,589.51
ExtraOrd
Income Available to Com Incl INR 1,909.04 0.00 2,313.41 2,173.90 1,589.51
ExtraOrd
Diluted Net Income INR 1,909.04 0.00 2,313.41 2,173.90 1,589.51
Diluted Weighted Average INR 128.53 0.00 128.53 128.53 128.53
Shares
Diluted EPS Excluding ExtraOrd INR 14.85 0.00 18.00 16.91 12.37
Items
Diluted Normalized EPS INR 15.59 0.00 16.28 12.92 13.84
DPS - Common Stock Primary INR 3.25 0.00 3.25 3.50 3.50
Issue
Balance Sheet
Cash INR 486.34 0.00 521.71 598.58 617.80
Cash & Equivalents INR 0.00 0.00 0.00 300.41 0.00
Short Term Investments INR 2,060.50 0.00 1,582.28 2,513.93 4,589.70
Cash and Short Term INR 2,546.84 0.00 2,103.99 3,412.92 5,207.50
Investments
Accounts Receivable - Trade, INR 509.20 0.00 583.99 709.96 694.08
Net
Total Receivables, Net INR 765.46 0.00 904.89 1,068.62 1,090.76
Total Inventory INR 5,826.94 0.00 7,070.04 6,902.82 7,164.73
Prepaid Expenses INR 66.44 0.00 158.65 180.08 143.25
Other Current Assets, Total INR 25.93 0.00 14.52 11.78 12.87
Total Current Assets INR 9,231.61 0.00 10,252.09 11,576.22 13,619.11
Property/ Plant/ Equipment, Total INR 6,182.85 0.00 3,243.44 3,942.30 4,281.26
- Gross
Accumulated Depreciation, Total INR -3,552.39 0.00 0.00 -773.08 -1,373.33
Property/ Plant/ Equipment, Total INR 2,630.46 0.00 3,243.44 3,169.22 2,907.93

MarketLine
Bata India Limited
Company Overview
- Net
Intangibles, Net INR 89.65 0.00 325.33 62.18 69.94
Long Term Investments INR 0.00 0.00 0.00 5.00 5.00
Note Receivable - Long Term INR 1,019.79 0.00 937.34 852.93 985.74
Other Long Term Assets, Total INR 848.71 0.00 1,449.90 1,665.02 1,643.66
Total Assets INR 13,820.22 0.00 16,208.10 17,330.57 19,231.38
Accounts Payable INR 2,861.42 0.00 3,567.50 3,286.22 4,084.47
Accrued Expenses INR 0.00 0.00 0.00 0.00 0.00
Notes Payable/ Short Term Debt INR 0.00 0.00 0.00 0.00 0.00
Other Current liabilities, Total INR 1,767.31 0.00 1,113.35 806.38 863.97
Total Current Liabilities INR 4,628.73 0.00 4,680.85 4,092.60 4,948.44
Total Long Term Debt INR 0.00 0.00 0.00 0.00 0.00
Total Debt INR 0.00 0.00 0.00 0.00 0.00
Other Liabilities, Total INR 792.75 0.00 977.60 1,028.73 1,039.71
Total Liabilities INR 5,421.48 0.00 5,658.45 5,121.33 5,988.15
Common Stock, Total INR 642.64 0.00 642.64 642.64 642.64
Additional Paid-In Capital INR 501.36 0.00 501.36 501.36 501.36
Retained Earnings (Accumulated INR 6,975.23 0.00 9,405.65 11,065.24 12,099.23
Deficit)
Unrealized Gain (Loss) INR 279.51 0.00 0.00 0.00 0.00
Total Equity INR 8,398.74 0.00 10,549.65 12,209.24 13,243.23
Total Liabilities & Shareholders' INR 13,820.22 0.00 16,208.10 17,330.57 19,231.38
Equity
Total Common Shares INR 128.53 0.00 128.53 128.53 128.53
Outstanding
Cash Flow
Net Income/ Starting Line INR 2,828.61 0.00 3,289.36 2,965.48 2,338.64
Depreciation/ Depletion INR 592.19 0.00 792.84 784.73 646.30
Amortization INR 0.00 0.00 0.00 3.49 4.06
Non-Cash Items INR 119.91 0.00 -244.11 -231.57 -300.48
Changes in Working Capital INR -1,715.67 0.00 -2,650.47 -1,485.71 -123.47
Cash from Operating Activities INR 1,825.04 0.00 1,187.62 2,036.42 2,565.05
Capital Expenditures INR -817.23 0.00 -1,464.90 -404.14 -512.74
Other Investing Cash Flow Items, INR -364.29 0.00 804.53 -738.94 -1,775.44
Total
Cash from Investing Activities INR -1,181.52 0.00 -660.37 -1,143.08 -2,288.18
Financing Cash Flow Items INR -78.52 0.00 -88.55 -102.27 -108.22
Total Cash Dividends Paid INR -383.71 0.00 -415.72 -416.53 -448.75
Issuance (Retirement) of Debt, INR 0.00 0.00 0.00 0.00 0.00
Net

MarketLine
Bata India Limited
Company Overview
Cash from Financing Activities INR -462.23 0.00 -504.27 -518.80 -556.97
Net Change in Cash INR 181.29 0.00 22.98 374.54 -280.10
Cash Interest Paid INR 12.99 0.00 17.56 17.23 16.65
Cash Taxes Paid INR 1,106.46 0.00 1,435.44 1,076.81 651.37
Capital Market Ratios
Key Ratios November 10,2017

P/E (Price/Earnings) Ratio 32.34
EV/EBITDA (Enterprise Value/Earnings Before Interest, Taxes, 0.00
Depreciation and Amortization)
Enterprise Value/Sales 0.00
Enterprise Value/Operating Profit 0.00
Enterprise Value/Total Assets 0.00
Dividend Yield 0.01
Market Cap 70,304.56
Enterprise Value 0.00
Note: The above ratios are based on

the share price as of November
10,2017, they are absolute numbers
Annual Ratios
Key Ratios Unit Currency 2013 2014 2015 2016 2017

Growth Ratios
Sales Growth % 18.94 12.09 0.00 0.00 -8.84
Operating Income Growth % 0.00 0.00 0.00 18.70 14.31
EBITDA Growth % -22.78 12.26 0.00 0.00 -8.05
Net Income Growth % 0.00 0.00 0.00 -33.52 10.94
EPS Growth % -34.14 17.80 0.00 0.00 -20.64
Working Capital Growth % 0.00 0.00 0.00 21.81 32.14
Equity Ratios
EPS (Earnings per Share) USD 0.00 0.00 20.14 13.39 14.85

MarketLine
Bata India Limited
Company Overview
Dividend per Share USD 3.00 3.25 0.00 3.25 3.50

Dividend Cover Absolute 0.00 0.00 8.06 4.46 4.57
Book Value per Share USD 54.39 65.35 0.00 82.08 94.99
Cash Value per Share USD 0.00 0.00 0.00 0.00 0.00
Profitability Ratios
Gross Margin % 0.00 0.00 50.42 50.29 51.42
Operating Margin % 12.18 12.42 0.00 9.82 7.53
Net Profit Margin % 0.00 0.00 16.71 9.34 9.24
Profit Markup % 101.18 105.83 0.00 106.16 97.55
PBT Margin (Profit Before Tax) % 0.00 0.00 22.75 13.71 13.70
Return on Equity % 24.62 22.73 0.00 21.93 17.81
Return on Capital Employed % 0.00 0.00 29.77 29.72 27.91
Return on Assets % 15.24 13.81 0.00 14.27 12.54
Return on Fixed Assets % 55.17 55.91 0.00 44.44 32.15
Return on Working Capital % 0.00 0.00 66.12 64.43 55.74
Cost Ratios
Operating Costs (% of Sales) % 87.82 87.58 0.00 90.18 92.47
Administration Costs (% of Sales) % 0.00 0.00 32.16 32.44 32.59
Liquidity Ratios
Current Ratio Absolute 1.93 1.99 0.00 2.19 2.83
Quick Ratio Absolute 0.00 0.00 0.63 0.70 0.74
Cash Ratio Absolute 0.50 0.55 0.00 0.45 0.83
Leverage Ratios
Debt to Equity Ratio Absolute 0.00 0.00 0.00 0.00 0.00
Net Debt to Equity Absolute 0.05 0.06 0.00 0.05 0.02
Debt to Capital Ratio Absolute 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
Asset Turnover Absolute 0.00 0.00 1.68 1.63 1.49
Fixed Asset Turnover Absolute 7.06 7.85 0.00 8.31 7.75
Inventory Turnover Absolute 1.98 1.72 0.00 1.85 1.80
Current Asset Turnover Absolute 2.55 2.24 0.00 2.63 2.12
Capital Employed Turnover Absolute 0.00 0.00 2.71 2.64 2.46
Working Capital Turnover Absolute 5.29 4.49 0.00 4.84 3.28
Revenue per Employee USD 0.00 0.00 0.00 0.00 0.00
Net Income per Employee USD 0.00 0.00 0.00 0.00 0.00
Capex to Sales % 4.65 3.96 0.00 5.44 1.65
R&D to Sales % 0.00 0.00 0.00 0.00 0.10

MarketLine
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Bata India Limited

REFERENCE CODE: 2696221C-F9C9-492B-BFFF-B665B9AF61B5

Company Overview ........................................................................................................3

Bata India Limited Page 2

Head Office Bata India Limited

Bata India Limited Page 3

Bata India Limited Page 4

Bata India Limited Page 5

Bata India Limited Page 6

The company opened 159 new stores.

The company plans to open 100 new stores in FY2016.

Bata India Limited Page 7

The company ranked 11 in the Most Attractive Brand of 2013.

The company opened 95 new stores including eight FOOTIN stores.

The company launched online shopping website.

Business / Operations Closure

The company closed/relocated 60 existing stores.

Bata India Limited Page 8

The company opened a new large format store in Ludhiana, India.

Bata India established a new flagship store in Thiruvananthapuram, Kerala, India.

Bata India Limited Page 9

The company launched the Sundrops line at New Delhi, India.

Bata India Limited Page 10

The company established an export-oriented unit at Hosur, Tamil Nadu, India.

The company launched the Adidas collection of sports footwear.

The companys shares were listed on the Bombay Stock Exchange.

The company established a factory in Faridabad, Haryana, India.

Bata India Limited Page 11

The company established a leather footwear factory at Patna, Bihar, India.

The company launched leather products.

Bata India Limited Page 12

Name Job Title Board

Bata India Limited Page 13

Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

Ram Kumar Gupta

Bata India Limited Page 14

Major Products & Services

MAJOR PRODUCTS & SERVICES

Bata India Limited Page 15

Bata India Limited Page 16

Revenue Growth Inventory Turnover Ratio

Expanding E-Retail Market in India Changes in Fashion Trends

Bata India Limited Page 17

Multiple Channels Selling

Inventory Turnover Ratio

Lack of Focus on Overseas Operations

Bata India Limited Page 18

Expanding E-Retail Market in India

Private Label Gaining Momentum

Expanding Retail Market in India

Bata India Limited Page 19

Growing Global Footwear Market

Changes in Fashion Trends

Bata India Limited Page 20

Bata India Limited Page 21

Action Footwear Pvt Ltd

Bata India Limited Page 22

Bata India Limited Page 23

Bata India Limited Page 24

Locations And Subsidaries

LOCATIONS AND SUBSIDARIES

Bata India Limited