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Metro Brands

METROBRAND NSE

Key Fundamentals

SmallcapFootwearConsumer Goods
Market Cap
₹25,645 Cr
Volatility
Moderate
P/E Ratio
63.02
EBITDA
₹972 Cr
Return on Equity
20.52%
Debt to Equity
0.79
Book Value
₹73.11
EPS
₹15.13
52W High
₹1,340.4
52W Low
₹883

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 76.0%

Weaknesses

1
  • Stock is trading at 12.9 times its book value

Growth Rate

Revenue Growth
14.13% higher than 3Y
Net Income Growth
17.32% higher than 3Y
Cash Flow Change
-32.08% lower than 3Y
ROE
0.59% lower than 3Y
ROCE
-7.95% lower than 3Y
EBITDA Margin (Avg.)
0.12% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

Metro Brands Ltd trades at a market cap of ₹25,641 Cr with a PE of 61.8x and PB of 12.79x, reflecting premium valuation. The company has delivered a consistent ROE of ~22% over 3, 5, and 10-year periods with TTM sales growth of 15%, while the stock has declined 22% over the past year.

Bull Case 7
  • Consistent return on equity of 22% maintained across 3-year, 5-year, and 10-year horizons, indicating durable capital efficiency
  • TTM revenue growth of 15% signals continued top-line momentum despite a maturing base
  • Compounded profit growth of 44% over 5 years demonstrates strong operating leverage and margin expansion over a medium-term cycle
  • 10-year compounded sales CAGR of 14% reflects a long runway of sustained demand in the branded footwear segment
  • Healthy dividend payout ratio of 76.0%, indicating shareholder-friendly capital allocation and confidence in cash flow generation
  • TTM profit growth of 14% broadly tracking revenue growth of 15%, suggesting margin stability at current scale
  • Compounded profit CAGR of 17% over 10 years outpaces the 14% sales CAGR over the same period, pointing to structural margin improvement
Bear Case 8
  • PE ratio of 61.8x is significantly elevated versus broader market and most consumer goods peers, leaving limited room for execution misses
  • Stock is trading at 12.79x book value, a steep premium that prices in considerable future growth
  • Stock price has declined 22% over the past 1 year, underperforming the broader market and signaling weakening investor sentiment
  • 3-year stock CAGR of -5% indicates the stock has destroyed value for medium-term holders despite underlying earnings growth
  • 3-year compounded profit growth of only 5% marks a sharp deceleration from the 5-year CAGR of 44%, suggesting growth normalization
  • 3-year compounded sales growth of 10% is notably lower than the 5-year CAGR of 29%, indicating a slowdown in revenue momentum
  • Dividend yield of just 0.64% offers minimal income cushion relative to risk-free alternatives above 7%
  • At ₹25,641 Cr market cap with a 61.8x PE, the stock requires sustained high earnings growth to justify current valuation — any miss could trigger meaningful de-rating

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 5
  • Rich valuation at 51x FY28E Sep 11

    Stock trades at 51x FY28 earnings with analysts maintaining mixed ratings and target prices ranging from ₹1,000 to ₹1,124, suggesting limited upside at current levels.

  • Stock down 23% YTD Aug 26

    Metro Brands shares have fallen over 23% year-to-date, 20% in one year, and 31% over three years, indicating a sustained longer-term downward trend.

  • Operating margin compression Sep 11

    EBITDA margin fell 110 bps YoY to 29.8% in Q1 due to higher employee costs (+50 bps) and other expenses (+70 bps), offsetting a 20 bps gross margin expansion to 59.5%.

  • Sharp slowdown in store additions Sep 11

    Only 9 stores added in Q1 versus 42 in Q4 and a trailing three-quarter average of 35, raising concerns about the pace of network expansion.

  • Slowing revenue growth trajectory Sep 11

    While Q1 revenue grew 15% YoY, this marked a declining trend over the last two quarters, and e-commerce growth lagged at just 9% versus 16% for offline.

Positives 4
  • Solid Q1 revenue growth at 15% Sep 11

    Metro Brands delivered 15% YoY revenue growth in the June quarter, supported by pickup in demand sentiment and a healthy wedding season, with mid-teens guidance reiterated for FY27.

  • Kotak upgrades to Add Aug 26

    Kotak Institutional Equities upgraded Metro Brands from Reduce to Add, noting the 23% YTD decline offers a better entry point and highlighting GST rate cuts and Walkway brand as long-term drivers.

  • ₹3 per share final dividend Aug 19

    Board recommended a final dividend of ₹3 per share for FY26, with the 49th AGM scheduled for September 16, 2026.

  • Strong ESG and sustainability push Aug 24

    Metro Brands diverted 4,892 tonnes of footwear waste from landfills in FY26, generated 1.42 lakh kWh of renewable energy, and sourced 48% of inputs from MSMEs.

Neutral 1
  • Investor meet on Sep 2 Aug 27

    Metro Brands will hold a physical group meeting with analysts and institutional investors on September 2, 2026 at the Elara India Dialogue 2026 Conference.

TL;DR: Metro Brands delivered steady 15% Q1 revenue growth with healthy gross margins, but operating margin compression and a sharp slowdown in store additions to just 9 are near-term concerns. The stock's 23% YTD decline has prompted Kotak to upgrade to Add, though the 51x FY28E valuation remains rich relative to current growth rates. New brand partnerships and Walkway's scaling potential are key catalysts, but execution on store expansion and margin discipline will determine whether the stock can re-rate from here.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
583
556
636
583
576
585
703
643
628
651
811
773
720
Expenses
396
400
437
424
396
431
478
446
434
480
546
535
506
Operating Profit
187
155
199
159
180
155
225
197
194
171
265
238
215
OPM %
32%
28%
31%
27%
31%
26%
32%
31%
31%
26%
33%
31%
30%
Other Income
14
16
16
26
23
24
24
23
29
28
17
32
27
Interest
18
20
20
20
21
22
23
24
24
29
29
29
30
Depreciation
54
57
59
59
60
62
66
70
69
78
80
84
85
PBT
128
95
136
105
123
94
160
126
131
91
173
157
127
Tax %
28%
29%
28%
-48%
25%
24%
41%
24%
24%
24%
25%
25%
25%
Net Profit
94
68
99
156
92
72
95
95
99
69
130
118
95
EPS in Rs
3.42
2.45
3.6
5.71
3.37
2.56
3.48
3.48
3.62
2.49
4.71
4.28
3.44
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
732
803
910
1,075
1,217
1,285
800
1,343
2,127
2,357
2,507
2,864
2,956
Expenses
600
663
758
848
880
930
625
930
1,447
1,653
1,748
1,991
2,068
Operating Profit
132
140
152
227
337
355
175
412
680
704
759
873
888
OPM %
18%
17%
17%
21%
28%
28%
22%
31%
32%
30%
30%
30%
30%
Other Income
6
7
9
8
19
23
76
55
53
69
93
100
103
Interest
1
1
0
0
34
40
45
50
63
79
90
111
117
Depreciation
12
13
16
20
94
121
122
134
181
229
258
311
327
PBT
125
133
144
215
228
218
85
283
489
465
504
551
547
Tax %
34%
34%
35%
34%
34%
27%
23%
25%
26%
11%
30%
25%
—
Net Profit
82
87
95
142
153
161
65
214
365
415
354
416
412
EPS in Rs
55.83
57.67
61.8
94.39
11.13
11.8
2.57
7.79
13.3
15.17
12.88
15.09
14.92
Div. Payout %
21%
22%
22%
21%
22%
25%
58%
29%
30%
33%
155%
40%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
15
15
15
15
133
133
133
136
136
136
136
136
Reserves
318
381
449
562
517
675
695
1,129
1,412
1,728
1,573
1,857
Borrowings
8
3
3
6
424
549
567
692
943
1,098
1,227
1,570
Other Liabilities
114
118
170
189
247
261
265
348
416
391
398
452
Total Liabilities
455
517
636
772
1,322
1,617
1,659
2,305
2,906
3,353
3,334
4,015
Fixed Assets
122
135
172
185
593
708
724
848
1,302
1,482
1,602
1,984
CWIP
0
1
4
6
4
13
5
6
18
9
9
18
Investments
37
76
83
185
210
348
400
401
478
750
550
673
Other Assets
296
305
377
397
515
548
532
1,050
1,109
1,111
1,173
1,340
Total Assets
455
517
636
772
1,322
1,617
1,659
2,305
2,906
3,353
3,334
4,015
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
—
82
155
196
273
265
220
381
590
698
474
Investing
—
—
-83
-94
-67
-163
-122
-301
-52
-251
122
-100
Financing
—
—
-1
-50
-132
-112
-127
116
-359
-323
-773
-436
Net Cash Flow
—
—
-1
10
-4
-1
16
35
-30
16
47
-62
Free Cash Flow
—
—
24
121
137
229
241
172
289
479
611
335
CFO/OP
—
—
87
98
82
94
163
71
77
96
110
69
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
11
10
13
13
16
20
23
13
18
12
13
13
Inventory Days
230
218
221
214
243
241
293
284
276
274
228
273
Days Payable
92
82
89
108
129
129
207
141
126
99
81
89
Cash Conversion Cycle
148
146
145
119
129
132
109
155
168
186
160
197
Working Capital Days
79
75
66
55
65
43
25
41
56
52
58
64
ROCE %
39%
36%
32%
40%
31%
21%
9%
20%
24%
20%
19%
20%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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59 extracted metrics + investor summaries across FY15–FY27.

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Shareholding Pattern

Others0.27%Promot.71.80%FIIs3.73%DIIs7.68%Public16.52%As ofJun 2026

Documents

Frequently Asked Questions about Metro Brands

What does Metro Brands Ltd do?
The company is one of the largest Indian footwear & accessories specialty retailers and are among the aspirational Indian brands in the footwear category.Its a one-stop shop for of branded products for the entire family, including men, women, unisex, and children, and for every occasion, includin...
Where is Metro Brands Ltd (METROBRAND) listed?
Metro Brands Ltd trades as METROBRAND on the NSE and under code 543426 on the BSE.
Which sector does Metro Brands Ltd belong to?
Metro Brands Ltd is classified under the Consumer Goods sector, in the Footwear industry.
What is the market capitalisation of Metro Brands Ltd?
Metro Brands Ltd has a market capitalisation of ₹25,645 Cr, which places it in the Large Cap band.
What is the PE ratio of Metro Brands Ltd?
Metro Brands Ltd trades at a PE ratio of 63.02, on earnings per share of ₹15.13, against a book value of ₹73.11 per share.
What is the 52-week high and low of Metro Brands Ltd?
Over the last 52 weeks Metro Brands Ltd has traded between ₹883 and ₹1,340.4.
Does Metro Brands Ltd pay dividends?
Metro Brands Ltd has a dividend yield of 0.63%.
What is the Return on Equity (ROE) of Metro Brands Ltd?
Metro Brands Ltd reported a return on equity of 20.52%. Its debt-to-equity ratio is 0.79.

Company Information

The company is one of the largest Indian footwear & accessories specialty retailers and are among the aspirational Indian brands in the footwear category.Its a one-stop shop for of branded products for the entire family, including men, women, unisex, and children, and for every occasion, including casual and formal events.[1]

Website metrobrands.com
Listed 2021-12-22
Face Value ₹ 5
Issued Size 27,24,33,991

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