Bata India announces Rs. 2,000 crores turnover in 2013 at 81st AGM

Bata India, the retailer and manufacturer of footwear in India held its 81st Annual General Meeting (AGM) in Kolkata recently. At the AGM, Rajeev Gopalakrishnan, Group Managing Director, Bata Emerging Markets, Bata India Limited thanked the shareholders for their trust on the brand and appreciated the employees on their relentless efforts to take the organization to newer heights. Gopalakrishnan was accompanied by the other directors including Uday Khanna, Chairman & Independent Director, Akshay Chudasama, Independent Director of Bata India Ltd., and Ranjit Mathur, Chief Financial Officer, Bata India.

Rajeev Gopalakrishnan, Group Managing Director, Bata Emerging Markets, Bata India Limited in his speech said “With the continuous effort and determination of the team, the company has continued to achieve growth and meet all major targets that we had set for ourselves in the year. I am pleased to share that for the first time in history, the Company has recorded a Turnover of over Rs. 2,000 Crores in the year 2013. The total Turnover of Rs. 2,098 Crores for the year ended December 31, 2013 reflected a growth of approx. 12%, as compared to the previous year. The Company’s Net Profit of Rs. 190 Crores during the year 2013 also reflected a growth of 11.2%. I am very happy to inform you that the Board of Directors recommended a dividend of Rs. 6.50/- per share for the year which is again the highest dividend recommended till date. We have over 1400 successful stores as of now out of which 95 stores were opened in the last calendar year”.

Further adding, Gopalakrishnan said, “the Company’s total Turnover has doubled - from Rs.1,000 Crores in 2008 to Rs.2,000 Crores this year, which means your Company is growing at a CAGR of approx. 15%.We have seen a continuous growth in the performance of all business areas. We have consistently focused on the growth of the company and profitable performance along with delivering value to our esteemed shareholders. The large scale expansion and renovation of stores, addition of accessories like bags, sunglasses, belts to our product portfolio, focus on improving our customer service, addition of new value oriented products, consolidation of manufacturing processes and focus on non-retail sales division, all together has yet again enabled our company to reach the milestones in the year 2013.”

Bata India continued to improve the strategic positioning of the brand and enhanced its retail presence to cater to the masses. The footwear collection has evolved over the years and has launched contemporary, aspirational and fashionable designs. In its strategy of expanding retail operations, the company has opened stores in metros and tier 2 / tier 3 cities including the largest footwear store in India at Viviana Mall, Mumbai, covering an area of approx. 20,500 sq. ft, as well as the first New City Format Store at DLF Saket Mall, New Delhi.

Bata India has witnessed constant growth over the years, which endorses its strong understanding of the consumer needs and lifestyle.

The company has been growing remarkably in all the aspects and will continue to undertake many new projects to ensure the strong leadership position and continuous progression in the footwear industry.