Bata India has declared an equity dividend of 1090.00 per cent at a face value of Rs 5 or a dividend of Rs 54.5 per share for the fiscal year ended in March 2022. Bata generates a dividend yield of 2.73 per cent at the current share price of Rs 1,985.95. The company has said in a regulatory filing that “The Board at the Meeting recommended a Dividend of Rs. 54.5 (1090 per cent) per equity share of Rs. 5/- each fully paid-up of the Company, which includes onetime Special Dividend of Rs. 50.5 (1010 per cent) per equity share of Rs. 5/- each fully paid-up of the Company, for the year ended March 31, 2022, for approval of the Members at the AGM. The payment of dividend, is subject to approval of the shareholders, at the AGM. Pursuant to Regulation 42 of the SEBI Listing Regulations, the Share Transfer Books and Register of the Members will remain closed from Saturday, August 6, 2022 to Friday, August 12, 2022 (both days inclusive) for the purpose of the 89th AGM and payment of Dividend. Dividend on Equity Shares, if declared, at the 89th AGM will be paid from Tuesday, August 23, 2022 onwards to those Members who are entitled thereto.”
As per the data available on BSE, the ex-date for the dividend is 04 Aug 2022. The ex-date for corporate actions like dividends falls 2 days prior to the record date and it indicates that in the instance of Bata India, the record date is August 6, and in order for shareholders to receive the dividend, they must be listed in the company’s record book on that day. The shares of Bata India closed today at Rs 1,985.95 on the NSE, up by 1.24 per cent from the previous close of ₹1961.65. In the last 1 year, the stock has gained 18.09 per cent and on a YTD basis, the stock has gained 6.82 per cent so far in 2022.
With a market cap of Rs 25,460.66 crore, Bata India Ltd. is a large cap company that serves the nation’s consumer discretionary industry. As a division of the Bata Shoe Organization, Bata India is the largest footwear retailer and producer in India. According to Value Research, Bata India is a debt-free organisation.
Should you Invest?
Short-term traders can look to buy the stock now or on dips for a possible target of Rs 2,262 in the next 1-3 months which will surpass its 16 November 2021 high of Rs 2261.65 on the BSE, suggest experts.
International brokerage firm Phillip Capital said that “On the retail front, Bata will continue to expand through an asset-light franchise route (net added 75 stores in FY22), which will account for approximately 80 per cent of new store additions(20-30 store additions on a quarterly basis). Our analysis of store data from the official website’s store locator suggests that there is further room to strengthen its footprint in smaller towns. On the distribution front, Bata has been gradually increasing its town coverage (1,047 in FY22 vs. 687 in FY19) coupled with strong growth in the distributor base (500 in FY22 vs. 325 in FY19). Management is targeting higher sales contribution from the MBO channel.”
“We maintain Buy, with a revised target of Rs 2,222 (55x FY24). Footfalls coming back to pre-covid level coupled with steep price hikes, increasing focus on its casual portfolio (which could account for 50 per cent of revenues in medium term led by channel expansion – MBO, franchise EBO and SIS should drive topline growth and margin expansion,” mentioned in its report.
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