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Plans 200 new outlets in next two years

Our Bureau

Kolkata, June 27

Bata India Ltd is looking at a 17 per cent growth in turnover in the current calendar year. The company’s turnover growth is expected to be propelled by its plans to set up 200 new Bata stores within the next two years, according to Mr P. M. Sinha, Chairman of the company.

Speaking to reporters after the conclusion of the company’s 74th annual general meeting held here today, Mr Sinha said the company’s revenue grew by 8.3 per cent in 2006 compared with the previous year. In 2007, the revenue growth was expected to double from the 2006-levels, he said, adding that the growth was likely to be propelled by sales from the 200 new outlets that would be opened up in Tier I and Tier II cities within the next two years.

Mr Sinha said the company had redesigned its stores to make them look on par with stores in international cities. These stores were giving handsome returns to the company and, consequently, the company had decided to open 200 new stores in Tier I and Tier II cities.

Earlier, addressing shareholders, Mr Sinha said the company was a market leader in the branded footwear business. In the year 2006, the company’s gross margins went up to 36 per cent, up from 27 per cent in 2004. During the year, cash drain stores were reduced from 400 to 140.

During the year ended December 31, 2006, Bata India notched an income of Rs 797.86 crore, up from Rs 726.60 crore in the previous year. The profit before tax in 2006 stood at Rs 49.18 crore compared with Rs 13.59 crore in 2005. The profit after tax during the year under review was Rs 40.15 crore against Rs 12.49 crore in 2005.

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