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Last Updated: April 2, 2026, 2:41 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500043 | NSE: BATAINDIA

Bata India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹642.65Fairly Valued by 2.33%vs CMP ₹628.00

P/E (42.0) × ROE (15.6%) × BV (₹119.00) × DY (3.03%)

₹377.78Overvalued by 39.84%vs CMP ₹628.00
MoS: -66.2% (Negative)Confidence: 54/100 (Moderate)Models: 2 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹716.9325%Under (+14.2%)
Graham NumberEarnings₹192.5018%Over (-69.3%)
Earnings PowerEarnings₹96.5812%Over (-84.6%)
DCFCash Flow₹137.7215%Over (-78.1%)
Net Asset ValueAssets₹118.578%Over (-81.1%)
EV/EBITDAEnterprise₹942.1610%Under (+50%)
Earnings YieldEarnings₹138.408%Over (-78%)
Revenue MultipleRevenue₹407.176%Over (-35.2%)
Consensus (8 models)₹377.78100%Overvalued
Key Drivers: Wide model spread (₹97–₹942) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 11.6%

*Investments are subject to market risks

Investment Snapshot

61
Bata India Ltd scores 61/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health74/100 · Strong
ROCE 15.1% GoodROE 15.6% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 50.2% Stable
Earnings Quality60/100 · Moderate
OPM stable around 23% SteadyWorking capital: 16 days (improving) Efficient
Quarterly Momentum40/100 · Moderate
Revenue (4Q): -1% YoY FlatProfit (4Q): -51% YoY Declining
Industry Rank75/100 · Strong
P/E 42.0 vs industry 34.5 In-lineROCE 15.1% vs industry 11.7% Above peersROE 15.6% vs industry 8.7% Above peers3Y sales CAGR: 13% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:41 am

Market Cap 8,072 Cr.
Current Price 628
Intrinsic Value₹377.78
High / Low 1,301/605
Stock P/E42.0
Book Value 119
Dividend Yield3.03 %
ROCE15.1 %
ROE15.6 %
Face Value 5.00
PEG Ratio3.63

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

View Share Price Target for Bata India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bata India Ltd 8,072 Cr. 628 1,301/60542.0 1193.03 %15.1 %15.6 % 5.00
Campus Activewear Ltd 6,837 Cr. 224 304/21048.5 26.00.45 %20.1 %17.2 % 5.00
Relaxo Footwears Ltd 6,483 Cr. 260 531/23638.6 84.71.15 %11.2 %8.31 % 1.00
Liberty Shoes Ltd 386 Cr. 227 475/21033.1 1340.00 %9.99 %7.20 % 10.0
Khadim India Ltd 156 Cr. 85.0 311/77.516.2 90.20.00 %9.34 %2.20 % 10.0
Industry Average4,386.80 Cr238.0334.5077.040.77%11.71%8.72%5.50

All Competitor Stocks of Bata India Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 830900779958819903798945837919788942801
Expenses 669694597719637721616760663719610743656
Operating Profit 161206182240182182182185174200178199145
OPM % 19%23%23%25%22%20%23%20%21%22%23%21%18%
Other Income 1281013-25112215118-1231213
Interest 27292728282931313231353534
Depreciation 74757681828690879090104106105
Profit before tax 72110881444678832177077627019
Tax % 24%24%26%26%26%26%23%20%26%24%26%26%28%
Net Profit 5583661073458641745259465214
EPS in Rs 4.276.475.118.322.644.514.9513.544.044.573.574.051.08

Last Updated: January 2, 2026, 7:02 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 23, 2026, 5:00 am

MetricDec 2013Mar 2015n n n 15mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,0652,6942,4232,4742,6342,9313,0561,7082,3883,4523,4793,4893,476
Expenses 1,7282,3432,1292,1782,2712,4412,2101,5401,9602,6472,6822,7362,742
Operating Profit 338351294296364490846169427804797753734
OPM % 16%13%12%12%14%17%28%10%18%23%23%22%21%
Other Income 187597184966668754391918661
Interest 13181615151412910899118126141136
Depreciation 597979656064296265242295339371419
Profit before tax 283329297234337478487-117140430351426240
Tax % 33%30%27%32%35%31%32%-23%26%25%25%22%
Net Profit 191231217159221329329-89103323263331178
EPS in Rs 14.8618.0016.9112.3717.1625.6025.59-6.958.0125.1320.4225.7313.84
Dividend Payout % 22%18%21%28%23%24%16%-58%680%54%59%74%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-26.73%38.99%48.87%0.00%-127.05%215.73%213.59%-18.58%25.86%
Change in YoY Net Profit Growth (%)0.00%65.72%9.88%-48.87%-127.05%342.78%-2.14%-232.17%44.43%

Bata India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2016-2017 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:3%
5 Years:3%
3 Years:13%
TTM:1%
Compounded Profit Growth
10 Years:1%
5 Years:-6%
3 Years:33%
TTM:-12%
Stock Price CAGR
10 Years:10%
5 Years:-2%
3 Years:-13%
1 Year:-14%
Return on Equity
10 Years:14%
5 Years:11%
3 Years:18%
Last Year:16%

Last Updated: September 5, 2025, 12:40 am

Balance Sheet

Last Updated: December 10, 2025, 2:27 am

MonthDec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 64646464646464646464646464
Reserves 7769571,1571,2601,4101,6781,8301,6941,7501,3741,4631,5111,460
Borrowings 0000001,2491,0321,0941,2461,3571,4461,378
Other Liabilities 542616512599667732589542616587466801788
Total Liabilities 1,3821,6371,7331,9232,1412,4743,7323,3323,5253,2723,3503,8233,691
Fixed Assets 2483093042682963171,3691,1201,2261,3921,5091,8001,688
CWIP 2448193012172034544141
Investments 00000000000125
Other Assets 1,1101,2801,4101,6251,8332,1402,3432,1792,2941,8761,8372,0081,978
Total Assets 1,3821,6371,7331,9232,1412,4743,7323,3323,5253,2723,3503,8233,691

Reserves and Borrowings Chart

Cash Flow

MonthDec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 182119204257160345582461212629453738
Cash from Investing Activity + -118-66-114-229-112-278-189-53934394053
Cash from Financing Activity + -46-50-52-56-56-63-436-369-341-1,011-518-638
Net Cash Flow 18237-28-74-4339-3757-24153
Free Cash Flow 104-1516520985263496425164539355670
CFO/OP 87%75%106%109%76%99%91%245%51%90%69%114%

Free Cash Flow

MonthDec 2013Mar 2015n n n 15mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow338.00351.00294.00296.00364.00490.00845.00168.00426.00803.00796.00752.00

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 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 981110128817119812
Inventory Days 224208217225232238246265292218227195
Days Payable 110105104129146146142192153997384
Cash Conversion Cycle 1231111241069910011290150128162123
Working Capital Days 363961515646281033274316
ROCE %40%34%22%22%25%31%25%-0%8%20%19%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 50.16%50.16%50.16%50.16%50.16%50.16%50.16%50.16%50.16%50.16%50.16%50.16%
FIIs 5.85%6.63%7.51%7.88%8.24%7.63%8.81%7.48%6.93%6.89%6.89%6.18%
DIIs 30.56%30.31%29.97%29.69%28.31%27.52%27.12%29.15%29.46%29.35%29.39%29.31%
Public 13.42%12.89%12.36%12.26%13.28%14.70%13.89%13.21%13.45%13.61%13.55%14.34%
No. of Shareholders 2,31,0722,22,9092,09,8462,04,8612,23,1362,53,3342,37,7352,33,6602,34,0802,34,3882,36,1692,39,885

Shareholding Pattern Chart

No. of Shareholders

Bata India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Mirae Asset Large & Midcap Fund 4,897,607 1 421.244,827,6072026-01-25 06:22:291.45%
Mirae Asset ELSS Tax Saver Fund 3,586,558 1.18 308.483,362,5082026-01-25 15:15:046.66%
Mirae Asset Midcap Fund 2,755,193 1.34 236.972,513,0232026-01-25 01:13:549.64%
Canara Robeco Large and Mid Cap Fund 2,043,454 0.71 175.76N/AN/AN/A
Nippon India Growth Mid Cap Fund 1,900,000 0.39 163.42N/AN/AN/A
ICICI Prudential Value Fund 1,591,349 0.23 136.87N/AN/AN/A
Quant Small Cap Fund 875,658 0.28 75.321,593,6192026-01-25 06:10:49-45.05%
Mirae Asset Multicap Fund 802,357 1.5 69.01N/AN/AN/A
Nippon India Small Cap Fund 556,377 0.07 47.85560,9082026-02-22 10:11:14-0.81%
Mirae Asset Great Consumer Fund 409,496 0.8 35.22N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 25.7320.4225.138.01-6.95
Diluted EPS (Rs.) 25.7320.4225.138.01-6.95
Cash EPS (Rs.) 54.6246.8148.0726.8413.65
Book Value[Excl.RevalReserv]/Share (Rs.) 122.54118.80111.90141.19136.79
Book Value[Incl.RevalReserv]/Share (Rs.) 122.54118.80111.90141.19136.79
Revenue From Operations / Share (Rs.) 271.44270.65268.55185.77132.93
PBDIT / Share (Rs.) 62.4865.9564.7736.9219.94
PBIT / Share (Rs.) 33.5939.5741.8318.09-0.65
PBT / Share (Rs.) 33.1727.2833.4410.87-9.07
Net Profit / Share (Rs.) 25.7320.4225.138.01-6.95
NP After MI And SOA / Share (Rs.) 25.7320.4225.138.01-6.95
PBDIT Margin (%) 23.0124.3624.1119.8714.99
PBIT Margin (%) 12.3714.6115.579.73-0.49
PBT Margin (%) 12.2210.0712.455.85-6.82
Net Profit Margin (%) 9.477.549.354.31-5.22
NP After MI And SOA Margin (%) 9.477.549.354.31-5.22
Return on Networth / Equity (%) 20.9917.1922.455.67-5.07
Return on Capital Employeed (%) 14.9619.4521.958.58-0.32
Return On Assets (%) 8.647.839.872.92-2.68
Asset Turnover Ratio (%) 0.971.051.020.690.48
Current Ratio (X) 1.842.111.962.452.61
Quick Ratio (X) 0.960.840.861.381.75
Inventory Turnover Ratio (X) 4.000.260.290.330.14
Dividend Payout Ratio (NP) (%) 85.5166.09216.8649.91-57.56
Dividend Payout Ratio (CP) (%) 40.2828.84113.3814.9029.30
Earning Retention Ratio (%) 14.4933.91-116.8650.09157.56
Cash Earning Retention Ratio (%) 59.7271.16-13.3885.1070.70
Interest Coverage Ratio (X) 6.257.247.725.112.47
Interest Coverage Ratio (Post Tax) (X) 2.623.593.992.110.18
Enterprise Value (Cr.) 15038.2617126.4717706.9224247.7716956.86
EV / Net Operating Revenue (X) 4.314.925.1310.169.93
EV / EBITDA (X) 18.7320.2121.2751.1066.17
MarketCap / Net Operating Revenue (X) 4.495.045.2810.5610.57
Retention Ratios (%) 14.4833.90-116.8650.08157.56
Price / BV (X) 9.9511.4812.6813.9010.27
Price / Net Operating Revenue (X) 4.495.045.2810.5610.57
EarningsYield 0.020.010.010.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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 footwear. Company's Total Operating Revenue is Rs. 3488.03 Cr. and Equity Capital is Rs. 64.26 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Footwears27B, Camac Street, Kolkata West Bengal 700016Contact not found
Management
NamePosition Held
Mr. Ashwani WindlassChairman & Ind.Director
Mr. Gunjan ShahManaging Director & CEO
Mr. Amit AggarwalDirector - Finance & CFO
Ms. Radha RajappaIndependent Director
Mr. Ashok Kumar BaratIndependent Director
Mr. Mukesh ButaniIndependent Director
Mr. Gerd GraehslerNon Executive Director
Mr. Shaibal SinhaNon Executive Director

FAQ

What is the intrinsic value of Bata India Ltd and is it undervalued?

As of 13 April 2026, Bata India Ltd's intrinsic value is ₹377.78, which is 39.84% lower than the current market price of ₹628.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (15.6 %), book value (₹119), dividend yield (3.03 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bata India Ltd?

Bata India Ltd is trading at ₹628.00 as of 13 April 2026, with a FY2026-2027 high of ₹1,301 and low of ₹605. The stock is currently near its 52-week low. Market cap stands at ₹8,072 Cr..

How does Bata India Ltd's P/E ratio compare to its industry?

Bata India Ltd has a P/E ratio of 42.0, which is above the industry average of 34.50. The premium over industry average may reflect growth expectations or speculative interest.

Is Bata India Ltd financially healthy?

Key indicators for Bata India Ltd: ROCE of 15.1 % indicates efficient capital utilization; ROE of 15.6 % shows strong shareholder returns. Dividend yield is 3.03 %.

Is Bata India Ltd profitable and how is the profit trend?

Bata India Ltd reported a net profit of ₹331 Cr in Mar 2025 on revenue of ₹3,489 Cr. Compared to ₹103 Cr in Mar 2022, the net profit shows an improving trend.

Does Bata India Ltd pay dividends?

Bata India Ltd has a dividend yield of 3.03 % at the current price of ₹628.00. This is a relatively attractive yield for income-seeking investors.

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
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