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Last Updated on: 24 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 500043 | NSE: BATAINDIA

Bata India Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 11:30 pm

Market Cap 16,727 Cr.
Current Price 1,301
High / Low1,724/1,269
Stock P/E48.1
Book Value 114
Dividend Yield0.92 %
ROCE18.7 %
ROE19.8 %
Face Value 5.00
PEG Ratio0.47

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bata India Ltd

Competitors of Bata India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Campus Activewear Ltd 7,985 Cr. 261372/21382.0 22.70.00 %16.7 %14.9 % 5.00
AKI India Ltd 157 Cr. 17.832.5/17.2152 7.260.00 %6.22 %4.10 % 2.00
Relaxo Footwears Ltd 15,785 Cr. 635950/62987.2 80.80.47 %13.9 %10.5 % 1.00
Liberty Shoes Ltd 785 Cr. 462570/24449.3 1260.00 %9.45 %7.21 % 10.0
Khadim India Ltd 671 Cr. 365445/281114 1360.00 %7.82 %2.88 % 10.0
Industry Average7,018.33 Cr506.9788.7781.130.23%12.13%9.90%5.50

All Competitor Stocks of Bata India Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales267614841665943830900779958819903798945
Expenses299495673503698669694597719637721616760
Operating Profit-32119169162245161206182240182182182185
OPM %-12%19%20%24%26%19%23%23%25%22%20%23%20%
Other Income1212141991281013-251122150
Interest23222325252729272828293131
Depreciation50596272697475768182869087
Profit before tax-925097851607211088144467883217
Tax %-25%26%26%26%25%24%24%26%26%26%26%23%20%
Net Profit-69377263119558366107345864174
EPS in Rs-5.412.895.634.909.294.276.475.118.322.644.514.9513.54

Last Updated: September 11, 2024, 3:40 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 11, 2024, 3:40 pm

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales1,8422,0652,6942,4232,4742,6342,9313,0561,7082,3883,4523,4793,465
Expenses1,5561,7282,3432,1292,1782,2712,4412,2101,5401,9602,6472,6822,734
Operating Profit287338351294296364490846169427804797731
OPM %16%16%13%12%12%14%17%28%10%18%23%23%21%
Other Income291875971849666687543919158
Interest1213181615151412910899118126120
Depreciation51597979656064296265242295339345
Profit before tax253283329297234337478487-117140430351424
Tax %32%33%30%27%32%35%31%32%-23%26%25%25%
Net Profit172191231217159221329329-89103323263330
EPS in Rs13.3914.8618.0016.9112.3717.1625.6025.59-6.958.0125.1320.4225.64
Dividend Payout %22%22%18%21%28%23%24%16%-58%680%54%59%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-6.06%-26.73%38.99%48.87%0.00%-127.05%215.73%213.59%-18.58%
Change in YoY Net Profit Growth (%)0.00%-20.67%65.72%9.88%-48.87%-127.05%342.78%-2.14%-232.17%

Bata India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2015-2016 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:3%
3 Years:27%
TTM:1%
Compounded Profit Growth
10 Years:4%
5 Years:-2%
3 Years:77%
TTM:11%
Stock Price CAGR
10 Years:8%
5 Years:-4%
3 Years:-14%
1 Year:-19%
Return on Equity
10 Years:14%
5 Years:11%
3 Years:15%
Last Year:20%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:37 am

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital64646464646464646464646464
Reserves6357769571,1571,2601,4101,6781,8301,6941,7501,3741,4631,405
Borrowings00000001,2491,0321,0941,2461,3571,438
Other Liabilities430542616512599667732589542616587466580
Total Liabilities1,1301,3821,6371,7331,9232,1412,4743,7323,3323,5253,2723,3503,487
Fixed Assets2432483093042682963171,3691,1201,2261,3921,5091,569
CWIP1824481930121720345446
Investments0000000000001
Other Assets8681,1101,2801,4101,6251,8332,1402,3432,1792,2941,8761,8371,912
Total Assets1,1301,3821,6371,7331,9232,1412,4743,7323,3323,5253,2723,3503,487

Reserves and Borrowings Chart

Cash Flow

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +184182119204257160345582461212629453
Cash from Investing Activity +-128-118-66-114-229-112-278-189-539343940
Cash from Financing Activity +-46-46-50-52-56-56-63-436-369-341-1,011-518
Net Cash Flow1118237-28-74-4339-3757-24

Free Cash Flow

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow287.00338.00351.00294.00296.00364.00490.00845.00168.00426.00803.00796.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days99811101288171198
Inventory Days194224208217225232238246265292218227
Days Payable921101051041291461461421921539973
Cash Conversion Cycle1111231111241069910011290150128162
Working Capital Days323639615156465447645272
ROCE %42%40%34%22%22%25%31%25%-0%8%20%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters52.96%52.96%50.16%50.16%50.16%50.16%50.16%50.16%50.16%50.16%50.16%50.16%
FIIs6.01%6.66%6.84%7.87%4.86%5.85%6.63%7.51%7.88%8.24%7.63%8.81%
DIIs27.46%27.41%30.11%28.97%31.58%30.56%30.31%29.97%29.69%28.31%27.52%27.12%
Public13.57%12.97%12.89%13.00%13.41%13.42%12.89%12.36%12.26%13.28%14.70%13.89%
No. of Shareholders2,01,9512,02,5432,06,8982,16,9792,28,6782,31,0722,22,9092,09,8462,04,8612,23,1362,53,3342,37,735

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Mirae Asset Large & Midcap Fund3,094,2951.12449.491,043,0612024-11-23196.66%
ICICI Prudential Value Discovery Fund1,648,9270.48239.531,043,0612024-11-2358.09%
Canara Robeco Emerging Equities1,598,2750.93232.171,043,0612024-11-2353.23%
Mirae Asset ELSS Tax Saver Fund1,482,4140.83215.341,043,0612024-11-2342.12%
Quant Small Cap Fund1,391,5480.79202.141,043,0612024-11-2333.41%
Nippon India Growth Fund1,043,0610.45151.521,043,0612024-11-230%
ICICI Prudential Multicap Fund767,7780.78111.531,043,0612024-11-23-26.39%
ICICI Prudential India Opportunities Fund701,9220.43101.961,043,0612024-11-23-32.71%
Aditya Birla Sun Life MNC Fund - Div451,1541.6265.541,043,0612024-11-23-56.75%
Aditya Birla Sun Life MNC Fund - Gr451,1541.6265.541,043,0612024-11-23-56.75%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue5.005.005.005.005.00
Basic EPS (Rs.)20.4225.138.01-6.9525.59
Diluted EPS (Rs.)20.4225.138.01-6.9525.59
Cash EPS (Rs.)46.8148.0726.8413.6548.61
Book Value[Excl.RevalReserv]/Share (Rs.)118.80111.90141.19136.79147.35
Book Value[Incl.RevalReserv]/Share (Rs.)118.80111.90141.19136.79147.35
Revenue From Operations / Share (Rs.)270.65268.55185.77132.93237.78
PBDIT / Share (Rs.)65.9564.7736.9219.9470.08
PBIT / Share (Rs.)39.5741.8318.09-0.6547.07
PBT / Share (Rs.)27.2833.4410.87-9.0737.91
Net Profit / Share (Rs.)20.4225.138.01-6.9525.59
NP After MI And SOA / Share (Rs.)20.4225.138.01-6.9525.59
PBDIT Margin (%)24.3624.1119.8714.9929.47
PBIT Margin (%)14.6115.579.73-0.4919.79
PBT Margin (%)10.0712.455.85-6.8215.94
Net Profit Margin (%)7.549.354.31-5.2210.76
NP After MI And SOA Margin (%)7.549.354.31-5.2210.76
Return on Networth / Equity (%)17.1922.455.67-5.0717.36
Return on Capital Employeed (%)19.4521.958.58-0.3220.63
Return On Assets (%)7.839.872.92-2.688.81
Asset Turnover Ratio (%)1.051.020.690.480.98
Current Ratio (X)2.111.962.452.612.50
Quick Ratio (X)0.840.861.381.751.41
Inventory Turnover Ratio (X)0.260.290.330.140.30
Dividend Payout Ratio (NP) (%)66.09216.8649.91-57.5624.42
Dividend Payout Ratio (CP) (%)28.84113.3814.9029.3012.85
Earning Retention Ratio (%)33.91-116.8650.09157.5675.58
Cash Earning Retention Ratio (%)71.16-13.3885.1070.7087.15
Interest Coverage Ratio (X)7.247.725.112.477.65
Interest Coverage Ratio (Post Tax) (X)3.593.992.110.183.79
Enterprise Value (Cr.)17126.4717706.9224247.7716956.8614859.80
EV / Net Operating Revenue (X)4.925.1310.169.934.86
EV / EBITDA (X)20.2121.2751.1066.1716.50
MarketCap / Net Operating Revenue (X)5.045.2810.5610.575.18
Retention Ratios (%)33.90-116.8650.08157.5675.57
Price / BV (X)11.4812.6813.9010.278.35
Price / Net Operating Revenue (X)5.045.2810.5610.575.18
EarningsYield0.010.010.000.000.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Bata India Ltd as of November 24, 2024 is: 1,095.70

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 24, 2024, Bata India Ltd is Overvalued by 15.78% compared to the current share price 1,301.00

Intrinsic Value of Bata India Ltd as of November 24, 2024 is: 2,212.76

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 24, 2024, Bata India Ltd is Undervalued by 70.08% compared to the current share price 1,301.00

Last 5 Year EPS CAGR: 101.95%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 24.00%, which is a positive sign.
  2. The company has higher reserves (1,337.62 cr) compared to borrowings (570.46 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (2.15 cr) and profit (302.00 cr) over the years.
  1. The stock has a high average Working Capital Days of 50.83, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 118.00, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Bata India Ltd:
    1. Net Profit Margin: 7.54%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 19.45% (Industry Average ROCE: 12.13%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 17.19% (Industry Average ROE: 9.9%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 3.59
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.84
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 48.1 (Industry average Stock P/E: 88.77)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Bata India Ltd. is a Public Limited Listed company incorporated on 23/12/1931 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L19201WB1931PLC007261 and registration number is 007261. Currently Company is involved in the business activities of Retail sale of leather goods and travel accessories of leather and leather substitutes. Company’s Total Operating Revenue is Rs. 2387.72 Cr. and Equity Capital is Rs. 64.26 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Footwears27B, Camac Street, 1st Floor, Kolkata West Bengal 700016share.dept@bata.com
http://www.bata.in
Management
NamePosition Held
Mr. Ashwani WindlassChairman & Ind.Director
Mr. Gunjan ShahManaging Director & CEO
Mr. Anil SomaniDirector - Finance & CFO
Mr. Akshay ChudasamaIndependent Director
Mr. Ashok Kumar BaratIndependent Director
Ms. Radha RajappaIndependent Director
Mr. Mukesh ButaniIndependent Director
Mr. Gerd GraehslerNon Executive Director
Ms. Kanchan ChehalNon Executive Director
Mr. Ravindra DhariwalNon Executive Director
Mr. Shaibal SinhaNon Executive Director

FAQ

What is the latest intrinsic value of Bata India Ltd?

The latest intrinsic value of Bata India Ltd as on 24 November 2024 is ₹1095.70, which is 15.78% lower than the current market price of ₹1,301.00.

What is the Market Cap of Bata India Ltd?

The Market Cap of Bata India Ltd is 16,727 Cr..

What is the current Stock Price of Bata India Ltd as on 24 November 2024?

The current stock price of Bata India Ltd as on 24 November 2024 is 1,301.

What is the High / Low of Bata India Ltd stocks in FY 2024?

In FY 2024, the High / Low of Bata India Ltd stocks is 1,724/1,269.

What is the Stock P/E of Bata India Ltd?

The Stock P/E of Bata India Ltd is 48.1.

What is the Book Value of Bata India Ltd?

The Book Value of Bata India Ltd is 114.

What is the Dividend Yield of Bata India Ltd?

The Dividend Yield of Bata India Ltd is 0.92 %.

What is the ROCE of Bata India Ltd?

The ROCE of Bata India Ltd is 18.7 %.

What is the ROE of Bata India Ltd?

The ROE of Bata India Ltd is 19.8 %.

What is the Face Value of Bata India Ltd?

The Face Value of Bata India Ltd is 5.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bata India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE