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Bata India Limited (BATAINDIA) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹96.7B (≈ $1.0B) · ISIN INE176A01028

What is Bata India Limited really worth?

BI Bata India Limited BATAINDIA · BSE
Price₹672.70
Fair Value₹229.72
Upside−65.9%
Quality67/100

A solid business, but trading 193% above our fair value of ₹229.72.

As of Aug 19, 2026, the fair value of Bata India Limited is ₹229.72 per share against a price of ₹672.70, so the fair value sits 66% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓generates free cash flow

Risks

!Mixed Growth (revenue 5y +15.5 %/yr)
!Thin margins · 4.9% net margin
!Narrow moat 43/100

For context

·1.34% dividend yield
Evidence: High Range ₹172.29 – ₹287.15

Fair value as of: Aug 19, 2026

From 23 valuation models · updated 18 days ago

Share price −8.0% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹287.15). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹2,132 ₹599.69 Fair Value ₹229.72 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range ₹599.69 – ₹2,132 · fair‑value band ₹172.29 – ₹287.15 · the ₹672.70 price screens above the ₹229.72 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Bata India Limited (BATAINDIA) currently trades at ₹672.70, while our model-based Fair Value estimate is ₹229.72, implying the stock looks roughly 192.8% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of ₹461.97 per share, and 2 of the 23 models we run sit above the ₹672.70 price. Bear case: the Asset-Based group reads lowest at ₹83.18, and 21 of the 23 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Bata India Limited generated revenue of ₹34.5B at a net margin of 4.9%. Revenue declined 4.3% year over year. It earns a return on equity of 11.4%. The stock trades on a trailing P/E of 50.8. Fundamentals as of Aug 19, 2026

Our scenario range runs from ₹172.29 (bear case) to ₹287.15 (bull case); at ₹672.70, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 47% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 32% fair-value upside, at −66%, BATAINDIA screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹1.85 per share, which is 0.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence ₹442.55 ₹644.18 ₹933.97 78
Growth DCF ₹454.89 ₹641.23 ₹897.06 76
Residual Income ₹104.58 ₹113.00 ₹138.63 76
All 23 models by family
DCF Models
FCF DCF best evidence ₹442.55 ₹644.18 ₹933.97 78
Owner Earnings ₹408.64 ₹594.80 ₹862.35 74
5Y Revenue Exit ₹298.16 ₹421.25 ₹570.04 71
5Y EBITDA Exit ₹454.50 ₹700.93 ₹976.56 72
5Y P/E Exit ₹256.84 ₹347.32 ₹435.64 69
10Y Revenue Exit ₹341.38 ₹461.97 ₹607.28 65
10Y EBITDA Exit ₹445.96 ₹651.60 ₹905.08 66
10Y P/E Exit ₹322.14 ₹411.86 ₹508.82 63
Earnings-Based
Graham-Dodd ₹71.00 ₹172.75 ₹223.35 65
PEG = 1.0 ₹30.77 ₹43.96 ₹57.15 57
EPV ₹218.00 ₹254.21 ₹285.90 70
Multiples
P/E Multiple ₹172.29 ₹229.72 ₹287.15 63
P/S Multiple ₹133.13 ₹177.51 ₹221.89 58
P/B Multiple ₹133.13 ₹177.51 ₹221.89 55
EV/EBIT ₹347.27 ₹462.79 ₹578.30 63
EV/EBITDA ₹525.90 ₹700.96 ₹876.02 64
EV/Revenue ₹230.38 ₹328.80 ₹427.23 51
Asset-Based
NCAV (Graham) ₹62.07 ₹83.18 ₹124.14 51
Growth DCF
Growth DCF ₹454.89 ₹641.23 ₹897.06 76
Rev-Margin DCF ₹298.16 ₹427.68 ₹569.71 71
Economic Profit
Residual Income ₹104.58 ₹113.00 ₹138.63 76
ROIC Compounder ₹227.82 ₹280.87 ₹339.49 70
Growth Earnings
Growth-Adj P/E ₹131.27 ₹187.53 ₹243.79 67

Widest divergence: DCF Models (₹461.97) versus Asset-Based (₹83.18). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 50.8
P/S ratio 1.94 P/E × margin
EPS (TTM) ₹13.25 price ÷ EPS = P/E 50.8
Dividend yield 1.3% payout 67.9%
Net margin 3.8% FY2026
Return on equity 11.4% TTM
More key figures
Profitability
Return on assets (EBIT) 10.3% avg 5y
Operating margin 5.0% TTM
Growth
Revenue (TTM) ₹34.5B TTM
Revenue growth (YoY) −4.3% 3y avg +0.6%
EPS growth (YoY) −73.3%
Balance sheet & cash flow
Free cash flow ₹5.3B FY2026

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 66 · Market factors (momentum, volatility) 37

Profitability 52
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Bata India Limited manufactures and trades in footwear and accessories through its retail and wholesale network in India and internationally. The company offers footwear for women, men, and kids; apparels; and accessories, such as belts, scarves, socks, handkerchiefs, wallets and clutches, handbags, masks, and shoe and foot care products.

Full company description

Bata India Limited manufactures and trades in footwear and accessories through its retail and wholesale network in India and internationally. The company offers footwear for women, men, and kids; apparels; and accessories, such as belts, scarves, socks, handkerchiefs, wallets and clutches, handbags, masks, and shoe and foot care products. It also engages in trading of apparel; and property letting activities. It sells its products primarily under the Bata, Hush Puppies, Nine West, North Star, Power, Bata Red Label, Bata Comfit, Bubblegummers, Disney, Naturalizer, Marie Claire, Scholl, Floatz by Bata, Weinbrenner, Bata Industrials, and Bata 3D brand name through retail and franchisee stores, wholesale network, and e-commerce. The company was formerly known as Bata Shoe Company Private Limited and changed its name to Bata India Limited in 1973. Bata India Limited was incorporated in 1931 and is based in Gurugram, India. Bata India Limited is a subsidiary of Bata (BN) B.V.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Bata India Limited reported revenue of ₹35.1B in FY2026 versus ₹23.9B in FY2022, a compound +10.1%/yr. Reported net income was ₹1.3B in FY2026, compounding +6.8%/yr from FY2022.

Growth Quality 90/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹35.1B
Latest YoY
+0.7%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.6%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.5%
Avg. revenue growth/yr (12Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.5%
Value creation/yr (5Y, in INR) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−0.5% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−1.8%
Dividend yield1.3%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −9.1% vs 10Y −1.7%, flattening
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−4.4% (2021) → 9.4% (2026) · rising
Worst earnings drop127% (2021) (loss year, drop beyond 100%) · in INR
Revenue +10.1%/yr
FY22 ₹23.9B
FY23 ₹34.5B
FY24 ₹34.8B
FY25 ₹34.9B
FY26 ₹35.1B
Net income +6.8%/yr
FY22 ₹1.0B
FY23 ₹3.2B
FY24 ₹2.6B
FY25 ₹3.3B
FY26 ₹1.3B

BATAINDIA screens 193% overvalued. Compare with NIKE, Inc →

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Bata India Limited · Fair Value
₹229.72 −193%Fair Value
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Cite: Fair Value Calculator (2026). "Bata India Limited Fair Value". https://www.fairvalue-calculator.com/stock/BATAINDIA.BSE

Peer Group

Footwear & Accessories · 93 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 66 · Top 25%
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 11% · Above median
Return on assets 6% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 5% · Below median
Revenue growth −4% · Below median
Dividend yield (TTM) 1.3% · Bottom 25%

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/E (TTM) 50.8× · Pricier than 75% of peers
P/B 6.06× · Pricier than 75% of peers
P/S (TTM) 2.80× · Pricier than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 21.8× · Pricier than 75% of peers
PEG 1.09× · Cheaper than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $38.44 $35.63 −7%
Deckers Outdoor Corporation DECK $87.76 $125.16 +43%
On Holding ONON $31.03 $17.79 −43%
Zhejiang China Commodities City Group 600415 ¥12.61 ¥13.03 +3%
Birkenstock Holding BIRK $33.95 $44.93 +32%
Crocs, Inc CROX $122.23 $203.65 +67%
Huali Industrial Group 300979 ¥34.24 ¥51.36 +50%
PUMA SE PUM €25.63 €10.57 −59%
Steven Madden, Ltd SHOO $47.70 $11.69 −75%
Yue Yuen Industrial (Holdings) Limited 0551 HK$13.65 HK$31.67 +132%

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Frequently asked questions

Is Bata India Limited (BATAINDIA) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹229.72 versus a price of ₹672.70, about −66% upside (overvalued).
What is the fair value of BATAINDIA?
Our model-based fair value for Bata India Limited is ₹229.72 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹672.70.
What is the quality score of BATAINDIA?
Bata India Limited has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bata India Limited (BATAINDIA)?
Our model-based price target is the fair value of ₹229.72 (as of Aug 19, 2026) from 23 valuation models. Cautious scenario ₹172.29, optimistic scenario ₹287.15. It is a calculation from audited fundamentals, not an analyst target.
What is the Bata India Limited stock forecast for 2026?
Our models put fair value at ₹229.72, about −66% upside versus a price of ₹672.70 (overvalued). Cautious scenario ₹172.29, optimistic scenario ₹287.15. The calculation is refreshed regularly with new filings.
What is the revenue of Bata India Limited (BATAINDIA)?
Bata India Limited reported trailing-twelve-month revenue of about ₹34.5B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of BATAINDIA?
The net profit margin of Bata India Limited is about 4.9%, meaning it keeps roughly 4.9% of revenue as net income. Based on the latest reported figures.
Does Bata India Limited pay a dividend?
Bata India Limited currently shows a dividend yield of about 1.34% relative to its recent price (as of Aug 19, 2026).
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