Bata India Share price

Bata India Limited the Company was originally incorporated as Bata Shoe Company Limited on 23rd December 1931 under the Indian Companies Act 1913. The Company was promoted by Leader A.G. Switzerland a member of the multinational BSO (BSO) with a 100% Equity Shareholding. In 1973 the Company changed its name to Bata India Limited and made its first public issue of shares. The first manufacturing unit of the Bata Shoe Company started at Batanagar with land acquired from the Port Commissioners and small land owners in the outskirts of Calcutta. The Batanagar factory first started manufacturing shoes in 1936 and the Kottayam Rubber Collection Centre came up in 1939. During World War II the factory''s production was geared to meet war requirements. This was followed by the setting up of the factory at Bataganj Bihar in 1942 the rubber/canvas factory at Faridabad Haryana in 1951. Asia''s largest tannery at Mokamehghat Bihar in 1952 and the Peenya factory at Bangalore in 1988. The Company''s EOU factory at Hosur in the State of Tamil Nadu became operational in 1994. THE COMPANY today operates a chain of over 1000 retail outlets 600 franchisees over 200 wholesalers servicing 10000 retail outlets all over the country. THE COMPANY has also been exporting footwear particularly to the developed countries in the world like Germany Australia USA UK Holland Denmark New Zealand France and Canada. In addition to products manufactured by it the Company also sells footwear accessories garments etc. manufactured by others. At Batanagar the biggest and oldest plant of the Company is located. This unit witnessed industrial unrest last in 1992 when there was a strike from January 3rd to May 25th which was resolved through a tripartite settlement and a three year agreement was signed. This agreement which expired in 1995 was signed at a bipartite level without disruption of work by a Long Term Agreement with the Bata Mazdoor Union representing employees of Batanagar and Calcutta Offices. The Company has a wholly owned subsidiary name Bata Properties Limited (BPL). Certain properties belonging to the Company were transferred to BPL pursuant to Schemes of Arrangement under the Companies Act in 1990 as well as in 1991. The objective of setting up BPL as a wholly owned subsidiary was to ensure better and profitable development of properties. As BPL has not been able to productively employ its assets the Management considered it expedient to re-transfer the immovable property from the BPL to the Company comprised in Premises No. 30 Shakespeare Sarani Calcutta 700 017 by reduction of share capital of BPL to an amount of Rs.40000000. This property has since been sold by the Company at a price of Rs.19 crores to raise finances to meet the working capital requirements for the Company.