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The Print Times
Bata India Limited reported sales of INR 35,155 million for FY 2025-26, as the footwear retailer pursued a comprehensive business transformation strategy amid subdued discretionary spending, inflationary pressures and currency depreciation. The company recorded EBITDA of INR 7,063 million and generated INR 5,953 million in cash from operations, supported by operational efficiency and disciplined cost management.
In his annual report message for FY 2025-26, Ashwani Windlass, Chairman of Bata India Limited, said the year marked a period of purposeful transformation for the company. He emphasised that enduring market leadership requires businesses to anticipate change rather than merely respond to it, adding that Bata India had embarked on a comprehensive strategy to strengthen its competitive position and prepare the business for sustainable growth.
Founded in India in 1931, Bata India has evolved into one of the country's largest footwear retailers and manufacturers. Its retail network comprises close to 2,000 exclusive brand outlets across multiple cities, supported by strategically located manufacturing facilities. During the year, the company continued to focus on building a faster, more agile and customer-centric organisation through its Reignite strategy, an integrated transformation programme spanning various aspects of its business.
The strategy is designed to respond to changing consumer preferences shaped by evolving lifestyles, digital engagement and rising aspirations. Operational excellence forms another key pillar, with initiatives across manufacturing, sourcing and supply chain management aimed at simplifying processes, strengthening planning capabilities and improving responsiveness. The company is also working to enhance resource productivity, streamline decision-making and integrate technology more effectively into its operations.
During FY26, Bata India undertook measures to optimise its product architecture, improve stock-keeping unit (SKU) productivity, streamline operations and enhance organisational efficiency. Windlass acknowledged that transforming operating models and embedding new ways of working can create short-term disruptions, but emphasised that these measures are necessary investments in building a stronger and more resilient organisation.
Bata India continued to strengthen its retail footprint, with close to 2,000 exclusive brand outlets, including more than 1,100 company-owned stores, over 700 franchise stores and more than 125 Hush Puppies stores. Its reach in the institutional and distribution business extended to over 1,650 towns, while nearly 700 stores were equipped to fulfil online orders.
Digitalisation has emerged as an increasingly important contributor to the company's business. Alongside its technology-enabled website and presence across e-commerce platforms, Bata India launched its own mobile application, which has become a significant contributor to its direct-to-consumer business. Digital-enabled channels now account for a mid-teens share of revenue, compared with low single digits a few years ago, and are expected to support further growth.
Despite a challenging operating environment, Bata India maintained its focus on protecting profitability. Profit after tax stood at INR 1,336 million for FY26 after accounting for a one-time voluntary retirement scheme (VRS) expense of INR 424 million, a non-cash foreign exchange loss of INR 224 million arising from currency depreciation, and an impact of INR 67 million related to the new wage code. The company stated that operational efficiency and disciplined execution helped defend EBITDA margins, excluding exceptional items.
The domestic footwear market continued to face subdued discretionary spending, a trend that had persisted since the end of March 2023, alongside inflationary pressures, geopolitical uncertainty and limited growth in real wages. The introduction of GST 2.0 in September 2025, however, supported a revival in demand. Bata India said it passed on GST-related benefits to customers ahead of the official announcements to help stimulate demand. Following the rollout, brands such as Floatz, Power and Hush Puppies recorded a healthy recovery, particularly during the festive, wedding and winter seasons, supported by growth in e-commerce sales.
Product innovation and faster development have remained central to the company's strategy. Bata India has reworked its product creation process, with an emphasis on partner consolidation, improved quality and standardisation of product kits. These initiatives are intended to bring new and trend-led products to stores more quickly while maintaining comfort, technology and quality standards.
The company is also advancing its portfolio casualisation strategy, which delivered encouraging results during FY26. The Power brand led performance in the sneaker category, while the Power Easy Slide collection gained consumer traction by addressing demand for convenience, accessibility and innovation. The collection also recorded its highest weekly contribution to pair sales, according to the company.
Floatz continued to gain popularity among consumers, crossing INR 1,500 million in sales during the year. The performance of its brands reflects Bata India's focus on adapting its product portfolio to evolving customer preferences while strengthening its position across footwear categories.
Looking ahead, the company intends to pursue retail footprint expansion alongside same-store sales growth, with a focus on towns and semi-urban markets under the Bata and Hush Puppies concepts. Through its Reignite strategy, digital expansion, product innovation and operational improvements, Bata India aims to build a more competitive and responsive business capable of navigating market uncertainty and delivering sustainable growth.
