Metro Brands Ltd

Metro Brands Ltd

₹ 1,086 -1.11%
24 Apr 11:45 a.m.
About

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]

Key Points

Network as of 9MFY24[1]
Store Formats : 5
Stores : 826 (87 added in FY24)
States : 31
Cities : 192
Loyalty membership : 13+ mn
Vendors : 250

  • Market Cap 29,526 Cr.
  • Current Price 1,086
  • High / Low 1,441 / 826
  • Stock P/E 78.0
  • Book Value 62.0
  • Dividend Yield 0.36 %
  • ROCE 25.3 %
  • ROE 26.6 %
  • Face Value 5.00

Pros

  • Company has delivered good profit growth of 22.0% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 37.8%

Cons

  • Stock is trading at 17.5 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Leather Industry: Leather / Leather Products

Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
293 318 314 476 396 497 463 577 514 556 532 616
200 230 223 309 268 316 320 373 362 361 371 407
Operating Profit 93 88 92 167 128 181 143 204 152 194 161 209
OPM % 32% 28% 29% 35% 32% 36% 31% 35% 30% 35% 30% 34%
17 10 17 12 13 9 12 15 19 16 18 16
Interest 10 12 12 12 15 13 15 17 17 18 19 20
Depreciation 30 30 34 34 35 39 41 49 46 50 54 56
Profit before tax 70 56 63 133 92 138 99 153 109 142 106 149
Tax % 12% 20% 20% 24% 27% 25% 25% 25% 25% 25% 25% 25%
62 45 50 100 68 103 74 115 82 106 79 111
EPS in Rs 4.64 1.69 1.89 3.69 2.49 3.80 2.72 4.22 3.00 3.91 2.92 4.09
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
636 702 767 868 1,034 1,155 1,210 789 1,312 2,052 2,218
520 577 632 722 818 925 867 608 906 1,370 1,501
Operating Profit 116 125 135 146 216 230 343 181 407 682 717
OPM % 18% 18% 18% 17% 21% 20% 28% 23% 31% 33% 32%
3 7 3 9 8 17 23 76 55 53 70
Interest 0 0 0 0 0 0 39 44 50 62 74
Depreciation 11 12 13 16 19 22 120 121 134 175 206
Profit before tax 108 120 125 139 205 224 207 91 278 498 506
Tax % 34% 34% 34% 34% 34% 34% 27% 20% 25% 25%
72 79 82 92 135 148 152 73 208 373 378
EPS in Rs 48.64 53.84 55.71 62.13 91.78 11.14 11.44 2.73 7.65 13.73 13.92
Dividend Payout % 23% 22% 22% 22% 22% 22% 26% 55% 29% 29%
Compounded Sales Growth
10 Years: %
5 Years: 15%
3 Years: 19%
TTM: 15%
Compounded Profit Growth
10 Years: %
5 Years: 22%
3 Years: 34%
TTM: 5%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 29%
Return on Equity
10 Years: %
5 Years: 21%
3 Years: 20%
Last Year: 27%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 15 15 15 15 15 133 133 133 136 136 136
Reserves 256 314 374 441 547 532 647 672 1,102 1,397 1,549
0 0 0 0 0 0 536 566 692 922 1,049
108 103 99 150 164 219 190 242 324 348 373
Total Liabilities 379 431 488 606 726 884 1,506 1,612 2,255 2,803 3,107
67 122 134 170 183 222 705 722 847 1,109 1,265
CWIP 2 0 1 4 6 4 13 5 6 18 13
Investments 79 37 77 96 184 208 346 397 398 570 627
232 272 277 336 352 450 443 488 1,004 1,106 1,202
Total Assets 379 431 488 606 726 884 1,506 1,612 2,255 2,803 3,107

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
83 157 107 272 244 218 410
-84 -93 -67 -161 -116 -299 -45
0 -53 -44 -112 -116 118 -395
Net Cash Flow -1 10 -4 -1 12 38 -30

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 1 1 1 2 2 3 2 10 6 4
Inventory Days 196 215 219 219 207 234 221 295 278 253
Days Payable 77 85 77 86 104 127 107 210 140 113
Cash Conversion Cycle 120 131 144 134 105 110 117 95 144 143
Working Capital Days 54 73 70 57 47 56 57 48 59 59
ROCE % 40% 35% 32% 40% 37% 25% 10% 20% 25%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.27% 74.27% 74.27% 74.26% 74.20% 74.20% 74.20% 74.20% 74.17% 74.16%
3.57% 3.38% 3.24% 3.28% 3.22% 2.80% 2.61% 2.33% 2.69% 2.68%
3.53% 4.58% 4.88% 4.73% 4.93% 5.29% 5.72% 6.10% 5.98% 6.02%
18.64% 17.77% 17.61% 17.73% 17.65% 17.72% 17.45% 17.36% 17.16% 17.13%
No. of Shareholders 1,19,15574,79467,28267,73266,86067,78563,45162,69058,87262,653

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls