Communication Details
• Date of communication: August 13, 2024
• Transcript availability: On the company's website
• Compliance: SEBI regulations
• Key participants:
• Gunjan Shah (MD and CEO)
• Anil Somani (CFO)
• Udit Gajiwala (Moderator from YES Securities)
Company Performance
• Sales decline: 1% due to heat wave, elections, and wedding season
• Strong brand performance:
• "Floats" treated as a start-up with significant investments
• "Power" brand showing double-digit growth
• Store expansion focus:
• Franchises in tier three to five towns
• Enhancing customer experience
• Growth in e-commerce and omni-channel sales
• Improved inventory management
Brand Expansion and Marketing
• Nine West brand expansion:
• Current presence in 50 stores, aiming for 70
• E-commerce performance:
• Enhancements planned for successful offline brands
• Marketing investments:
• Increased significantly with successful campaigns
Financial Overview
• Sales down by 1.4%, gross margins flat
• One-time gain from land monetization
• Expense management:
• IT project costs charged off
• Overall expenses expected to align with sales growth
Q&A Highlights
• Fastest growth channels: Franchise and e-commerce
• Same-store sales growth: Slightly negative, aiming for mid to high single digits
• Manufacturing mix: Shift to 25% in-house manufacturing
• Employee costs: 15% increase attributed to tech investments
Market Trends
• Key trends:
• Sneakerization, casualization, and fashion driving sales
• Casual and sneaker segments:
• Currently 50-55% of business, expected to grow to 60-65% in three years
Future Plans
• Store openings:
• 120-140 new stores, primarily in Tier 3 and lower markets
• Evolite brand:
• Gaining traction in the mass market
• Nine West licensing agreement:
• Strategic fit in high fashion premium segment
Conclusion
• Positive consumer response in tier 3 towns
• Strong traction from new store openings
• Closing remarks by Nitin Bagaria, thanking participants and YES Securities team.

Communication Details
• Date of communication: June 3, 2024
• Recipients: BSE, NSE, Calcutta Stock Exchange
• Transcript availability: On Bata's website
• Management present: CEO Gunjan Shah, CFO Anil Somani, moderated by Varun Singh (ICICI Securities)
Key Highlights from the Earnings Call
• Growth Drivers:
• Premium segments (Red Label, Comfort, Power) outperformed overall growth.
• Significant sales increases in the Floats category.
• Retail expansion included 24 new stores (target was 40).
• Strategic Focus:
• Enhancing distribution network and marketing investments.
• Strong performance in e-commerce and omni-channel sales.
• Launch of new products, including Nine West and more Power EBO stores.
• Financial Performance:
• Gross margins maintained despite challenging market conditions.
• FY'24 growth at 2.4%, with optimism for future growth due to operational efficiencies from a new ERP system.
Marketing and Operational Efficiency
• Ongoing marketing initiatives and successful ERP implementation aimed at improving operational efficiency.
• Focus on leveraging fixed costs and driving top-line growth.
Analyst Questions and Insights
• Demand Trends:
• Demand pickup noted in March; growth driven by e-commerce and franchise channels.
• Gross margin variability linked to seasonal factors and product mix.
• Product and Channel Performance:
• Sneaker market segmentation discussed; focus on casual and lifestyle sneakers.
• Premium products (priced above 2,000) growing faster than lower-end products.
• Expense Management:
• Increase in other expenses attributed to marketing, IT, and freight costs.
• Full ERP expense charged off in the current financial year.
Future Outlook
• Focus on portfolio additions catering to casualization and comfort.
• Aim for consistent double-digit revenue growth despite market challenges.
• No operational disruptions from BIS implementation; successful ERP integration reported.
Store Opening Strategy
• Majority of new stores will be franchise-based (80-20 ratio).
• Emphasis on enhancing distribution quality and penetration.
Strategic Interventions
• Three key strategies to stimulate growth:
• Enhance product trendiness and reduce complexity in offerings.
• Drive foot traffic through innovative promotions.
• Improve store staff performance metrics.
Conclusion
• Gunjan Shah expressed eagerness for future interactions and thanked participants for their engagement.

Communication Details
• Date of communication: February 9, 2024
• Transcript availability: On the company's website
• Hosted by: ICICI Securities
• Key management present: Gunjan Shah (MD and CEO), Anil Somani (CFO)
Company Performance Highlights
• Market Environment: Operating in a muted demand environment.
• Portfolio Evolution: Focus on premium categories and successful franchising.
• Digital Expansion: Rapid growth in e-commerce and omni-channel capabilities.
• Supply Chain Improvements: Outsourcing non-core operations and closing an underperforming factory.
• Technology Initiatives: ERP and merchandising projects on track for commercialization.
• Future Growth Outlook: Optimistic about mass market and new store concepts.
Financial Performance
• Revenue Growth: Modest increase of 0.4%.
• Gross Margin: Increased to 56%.
• EBITDA Decline: 10% drop due to marketing and IT investments.
• Profit Before Tax: 29.5% decrease compared to the previous year.
Key Metrics and Strategies
• Freshness Metric: Increased to 34%, with a target of 40%.
• Product Pricing: 30% of products priced under 1000p; commitment to both premium and mass market.
• Marketing Strategy: Increased spend to 4% of top line, focusing on digital influencer campaigns.
Brand Performance
• Key Brands: Red Label, Comfit, Floatz (15% of revenue); Hush Puppies (20% of revenue).
• BIS Implementation: Prepared for market turbulence due to new standards.
Pricing and Margin Dynamics
• Average Selling Price (ASP): Increase due to product/channel mix, not price hikes.
• Channel Mix Impact: Growth in non-company owned channels may dilute margins.
• Rental Costs: 100 basis point impact due to expiration of COVID-related concessions.
Future Initiatives
• Nine West Brand Rollout: Entering 50 Bata stores with a focus on premium pricing.
• Sustainable Growth: Aiming for profitable growth without specific margin guidance.
• Marketing Spend: Expected to increase to around 3% of sales over time.
Conclusion
• Focus on continued investment in brand and technology, with optimism for future growth despite current challenges.

Communication Details
• Date of communication: November 14, 2023
• Transcript of Q2 FY24 earnings call held on November 9, 2023
• Signed by: Nitin Bagaria, AVP-Company Secretary & Compliance Officer
• Hosted by: Axis Capital with key management members including Gunjan Shah (MD & CEO) and Anil Somani (CFO)
Key Highlights from the Conference Call
• Performance Overview
• Expansion of points of sale to 2,150
• Strategic alliance with Global Brand 9 West
• Growth of Sneaker Studios to over 600 stores
• Successful casual footwear line, Floatz, supported by manufacturing investments
• Technology and Operations
• Technology upgrades on schedule, including ERP system expected in Q4
• Focus on retail excellence with a target of 500 franchise stores by FY25
• Plans to enhance product offerings in multi-brand distribution
• Sales and Marketing
• Strong double-digit growth in digital sales
• Omni-channel model accounts for 4-5% of retail turnover
• Ongoing marketing campaign "Every Walk is a Ramp Walk"
• Financial Performance
• Revenues down by 1%, but EBITDA grew by 12.8%
• Implementation of automated inventory management tools
• Launch of voluntary retirement scheme (VRS) for operational agility
Q&A Session Insights
• Same-Store Growth (SSG)
• Low single digits negative for the quarter; positive growth expected without festive shift
• Expansion and Strategy
• Focus on sneakerization strategy and enhancing the Power brand
• Plans for store renovations and expansions for underperforming brands like Hush Puppies
• Market Segments
• Premiumization expected to outpace overall growth
• Anticipated rebound in the mass segment as consumer spending stabilizes
• Growth in Tier 2 and Lower Markets
• Franchise expansion with 120 new stores, primarily in Tier 3 and below
• Strategy to refresh 20% of product portfolio each season
• Leveraging omni-channel strategy for broader product access
Future Outlook
• Commitment to sustainable and profitable growth
• Targeting double-digit growth in the medium term
• Focus on expanding franchise and multi-brand outlet strategies along with online sales

Communication Details
• Date: August 17, 2023
• Transcript availability: Compliant with SEBI regulations, available on the website
• Key participants:
• Gunjan Shah (MD & CEO)
• Anil Somani (CFO)
• Moderator: Gaurav Jogani (Axis Capital)
Conference Call Agenda
• Business overview
• Strategy highlights
• Financials
• Q&A session
Key Highlights
• Expansion to nearly 2,100 points of sale
• Significant technology investments
• Sneaker Studios extended to 565 locations
• Strong sales of new product, Floats
• Focus on comfort and style brands
• Renovation of 40 stores and addition of 29 franchise stores
• E-commerce growth with new initiatives
Supply Chain and Digital Initiatives
• Implementation of Warehouse Management System (WMS)
• Cost efficiency improvements
• Expansion of digital presence and partnerships (e.g., ONDC)
• Effective marketing campaigns, especially in the school segment
New Initiatives
• Launch of "floatz" banner and shoe insurance program (Bata Shoe Care)
• Automated application for Landlord Connect
• Pilot of Power Activewear apparel line in 60 stores
• Digital receipts goal of over 90%
Financial Performance
• 2% growth driven by same-store sales
• EBITDA increased from 23 to 25
• Year-over-year decline noted
Q&A Session Insights
• Revenue growth challenges despite increased points of sale
• Margin decline attributed to inventory optimization and early sales
• Apparel line targeting athleisure products
• Focus on diversifying sourcing and enhancing manufacturing capabilities in India
• Management's strategy for franchise vs. company-owned stores
Future Outlook
• Optimism for recovery in the mass segment
• Plans for further store additions and innovative offerings
• Ongoing efficiency initiatives to reduce costs
• New merchandising software expected to improve inventory management
Conclusion
• Management remains optimistic about future growth and encourages further inquiries.

Communication Details
• Date of communication: May 22, 2023
• Transcript availability: Confirmed for the company website
• Key participants:
• Gunjan Shah (MD and CEO)
• Anil Somani (CFO)
• Nitin Bagaria (Company Secretary)
• Moderator: Nikita Jain (Batlivala & Karani Securities)
Key Highlights from the Conference Call
• Milestones Achieved:
• Surpassed 2,000 points of sale
• Expanded to over 700 cities
• Growth of Sneaker Studios to over 500 stores
• Product Performance:
• New product line performing well
• Strong growth in e-store and omni-channel business
• Strategic Focus:
• Portfolio expansion and retail excellence
• Marketing investments and digital commerce enhancement
• High Net Promoter Score indicating customer satisfaction
Financial Performance
• Growth Metrics:
• 17% top-line growth, returning to pre-COVID volume levels
• Generated INR 726 crores in cash
• Improved return on capital to 20%
• Market Strategy:
• Plans to enter apparel market with competitive pricing
• Expansion of clothing collection and testing kiosks
Premiumization Strategy
• Product Pricing:
• Decrease in products priced below INR 1,000 from 50% to 35%-40%
• Focus on maintaining presence in sub-INR 1,000 market
• Franchise Contribution:
• Significant profitability from franchise stores with improved EBITDA margins
Challenges and Concerns
• Distribution and Revenue Growth:
• Discrepancy between distribution growth (7% CAGR) and revenue growth (4%)
• Demand pressures in lower-priced segments affecting performance
• Working Capital and Margins:
• Efficient inventory growth aligned with revenue
• Temporary margin suppression due to technology and marketing investments
Future Outlook
• Dividends and Expansion:
• Current payout aligns with policy; optimistic about growth as inflation stabilizes
• Franchisee Expansion:
• New stores primarily opened by existing franchise partners
• Ongoing efforts in contract manufacturing and diversifying sourcing
Closing Remarks
• Management expressed confidence in premiumization strategy and future growth potential.
• Encouraged further inquiries from participants.

Communication Details
• Date of communication: February 20, 2023
• Transcript availability: Confirmed for the company website
• Call date: February 15, 2023
• Participants:
• Gunjan Shah (MD and CEO)
• Nikita Jain (Moderator)
• Nitin Bagaria (Company Secretary)
Company Performance Highlights
• Growth Areas:
• Significant growth in the Juniors segment
• Successful penetration of Floatz footwear
• Record expansion in franchise stores
• Financials:
• 7% year-over-year revenue increase
• EBITDA growth outpacing PAT due to lower interest income
• Challenges:
• Distribution business facing challenges
• Increased expenses (INR 700 crores annually vs. INR 500 crores pre-COVID)
Product Segment Insights
• Revenue Contribution:
• Products below INR 500: Decreased to 22%
• Higher-priced segments (above INR 1,000): Growing, especially above INR 2,000
• ERP Implementation:
• Phased approach starting with finance module in nine months
Store Expansion Strategy
• Store Growth:
• 19-20% increase in store numbers, but only 8% sales growth
• Focus on franchise stores in smaller towns as a long-term strategy
• Store Additions and Closures:
• Net addition of one COCO store; 12-14 stores added, 17 closed (mostly unprofitable)
Future Plans and Market Strategy
• Store Openings:
• Plans to add around 170 stores
• Product Development:
• New product lines including Floatz and apparel
• Premiumization Strategy:
• Focus on enhancing value and style offerings
Cost Management and Efficiency
• Cost Savings:
• Flexi Manpower contributing to a 15% productivity increase
• Transition to third-party logistics expected to yield benefits
• Material Costs:
• Some declines in key raw materials noted
Growth Outlook
• Future Growth Expectations:
• Aiming to return to pre-COVID CAGR levels
• Three to five-year strategy in place for growth
Closing Remarks
• Gunjan Shah emphasized balancing cost savings with strategic investments for future growth.