Shares of Bata India Ltd will attract significant attention when the market opens on Wednesday, July 31, 2024. The company’s Board of Directors has declared a final dividend of ₹12.00 per equity share for the financial year 2024.
The record date for determining shareholder eligibility for this dividend has been set for July 31, and Bata India shares will trade ex-dividend on that day.
In a recent exchange filing, Bata India announced: “The Board has recommended a dividend of ₹12/- (240%) per equity share of ₹5/- each, fully paid-up, for the financial year ending March 31, 2024. The payment of this dividend is subject to approval by shareholders at the upcoming Annual General Meeting (AGM).”
On July 16, Bata India revealed its strategy to boost same-store sales growth by focusing on its “top six brands.” The company plans to expand the reach of its successful Floatz brand and capitalize on the positive reception of its Power apparel line.
Bata India’s Managing Director and CEO, Gunjan Shah, stated: “Our continued focus on expanding along with same-store sales growth is crucial for our retail business. We are prioritizing our top six brands and Bata Core to unlock new opportunities.”
Q4 Earnings Report
For the fourth quarter ended March 2024, Bata India reported a 3.02% decline in consolidated net profit, totaling ₹63.64 crore. The company’s total expenses for the quarter amounted to ₹736.83 crore, reflecting a 5.22% increase.
For the fiscal year 2023-24, Bata India achieved sales of ₹3,478.4 crore, demonstrating a 2% improvement in operating profit margin compared to the previous year.
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