Footwear manufacturer Bata India has recorded a turnover of Rs 2,098 crore in 2013. The announcement was made at the 81st Annual General Meeting (AGM) in Kolkata yesterday. 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 organisation to newer heights. Gopalakrishnan was accompanied by the other directors including Uday Khanna, Chairman and Independent Director; Akshay Chudasama, Independent Director of Bata India Ltd; and Ranjit Mathur, Chief Financial Officer, Bata India.
Speaking on the occasion, Gopalakrishnan, Group Managing Director, Bata Emerging Markets, Bata India Limited, 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 crore in the year 2013. The total turnover of Rs 2,098 crore for the year ended December 31, 2013 reflected a growth of approx. 12 percent, as compared to the previous year. The company’s net profit of Rs 190 crore during the year 2013 also reflected a growth of 11.2 percent. 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 1,400 stores as of now out of which 95 stores were opened in the last calendar year.”
He further added: “The company’s total turnover has doubled – from Rs 1,000 crore in 2008 to Rs 2,000 crore this year, which means the company is growing at a CAGR of approx. 15 percent.We have seen a continuous growth in the performance of all business areas. Our constant focuss has been on the company’s growth 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.”
According to the company officials, Bata India’s 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 and 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 retails footwear through over 1,400 stores located in over 500 cities across India.