RK Gupta, CFO of Bata India, spoke to CNBC-TV18 about the company's business plans and growth outlook.

"Margins are sustainable at 20 percent plus and also expect double-digit growth going forward," said Gupta on Tuesday.

Gupta said that long-term agreement with vendors helped margins improve in Q3.

Talking about the business, he said, “In retail, we grew by 18 percent and we are putting our best efforts. We expect that it will continue.”

“We are taking a lot of new initiatives in wholesale business and from the coming quarter business will stabilize,” he added.

On the store addition front, Gupta said, “In first 9 months, we have opened almost 62 new stores. In the current quarter, we are planning to add almost 20 new stores and in FY20, we have a plan to add 70-80 new stores, subject to availability of right space in the right town.”