Bata India Ltd (BIL) is the largest retailer and leading manufacturer of footwear in India with ~1300 retail stores as on March 2019. Q4FY19 revenue growth was moderate at 7%YoY impacted by weak performance of E-com channel due to legislation change and one-off institutional order in YoY quarter. EBITDA margin improved by 90bps YoY largely due to expansion in gross margin (120bps YoY) on account of increasing mix of premium products. PAT growth was strong at 69%YoY. Rent expense as % of sales moderately increased by 10bps YoY....