Metro Brands Ltd
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]
- Market Cap ₹ 31,811 Cr.
- Current Price ₹ 1,166
- High / Low ₹ 1,348 / 890
- Stock P/E 89.5
- Book Value ₹ 66.7
- Dividend Yield 0.47 %
- ROCE 19.4 %
- ROE 19.0 %
- Face Value ₹ 5.00
Pros
- Company has been maintaining a healthy dividend payout of 72.8%
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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 668 | 732 | 803 | 910 | 1,075 | 1,217 | 1,285 | 800 | 1,343 | 2,127 | 2,357 | 2,507 | 2,625 | |
| 546 | 600 | 663 | 758 | 848 | 880 | 930 | 625 | 930 | 1,447 | 1,653 | 1,748 | 1,838 | |
| Operating Profit | 122 | 132 | 140 | 152 | 227 | 337 | 355 | 175 | 412 | 680 | 704 | 759 | 787 |
| OPM % | 18% | 18% | 17% | 17% | 21% | 28% | 28% | 22% | 31% | 32% | 30% | 30% | 30% |
| 3 | 6 | 7 | 9 | 8 | 19 | 23 | 76 | 55 | 53 | 69 | 93 | 105 | |
| Interest | 1 | 1 | 1 | 0 | 0 | 34 | 40 | 45 | 50 | 63 | 79 | 90 | 101 |
| Depreciation | 11 | 12 | 13 | 16 | 20 | 94 | 121 | 122 | 134 | 181 | 229 | 258 | 283 |
| Profit before tax | 113 | 125 | 133 | 144 | 215 | 228 | 218 | 85 | 283 | 489 | 465 | 504 | 508 |
| Tax % | 34% | 34% | 34% | 35% | 34% | 34% | 27% | 23% | 25% | 26% | 11% | 30% | |
| 75 | 82 | 87 | 95 | 142 | 153 | 161 | 65 | 214 | 365 | 415 | 354 | 358 | |
| EPS in Rs | 50.63 | 55.83 | 57.67 | 61.80 | 94.39 | 11.13 | 11.80 | 2.57 | 7.79 | 13.30 | 15.17 | 12.88 | 13.07 |
| Dividend Payout % | 22% | 21% | 22% | 22% | 21% | 22% | 25% | 58% | 29% | 30% | 33% | 155% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 14% |
| 3 Years: | 23% |
| TTM: | 10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 16% |
| 3 Years: | 17% |
| TTM: | -14% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 13% |
| 1 Year: | -5% |
| Return on Equity | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 21% |
| 3 Years: | 23% |
| Last Year: | 19% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 133 | 133 | 133 | 136 | 136 | 136 | 136 | 136 |
| Reserves | 260 | 318 | 381 | 449 | 562 | 517 | 675 | 695 | 1,129 | 1,412 | 1,728 | 1,573 | 1,681 |
| 7 | 8 | 3 | 3 | 6 | 424 | 549 | 567 | 692 | 943 | 1,098 | 1,227 | 1,439 | |
| 118 | 114 | 118 | 170 | 189 | 247 | 261 | 265 | 348 | 416 | 391 | 398 | 528 | |
| Total Liabilities | 399 | 455 | 517 | 636 | 772 | 1,322 | 1,617 | 1,659 | 2,305 | 2,906 | 3,353 | 3,334 | 3,784 |
| 68 | 122 | 135 | 172 | 185 | 593 | 708 | 724 | 848 | 1,302 | 1,482 | 1,602 | 1,811 | |
| CWIP | 2 | 0 | 1 | 4 | 6 | 4 | 13 | 5 | 6 | 18 | 9 | 9 | 18 |
| Investments | 78 | 37 | 76 | 83 | 185 | 210 | 348 | 400 | 401 | 478 | 750 | 550 | 649 |
| 251 | 296 | 305 | 377 | 397 | 515 | 548 | 532 | 1,050 | 1,109 | 1,111 | 1,173 | 1,306 | |
| Total Assets | 399 | 455 | 517 | 636 | 772 | 1,322 | 1,617 | 1,659 | 2,305 | 2,906 | 3,353 | 3,334 | 3,784 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 82 | 155 | 196 | 273 | 265 | 220 | 381 | 590 | 698 | ||||
| -83 | -94 | -67 | -163 | -122 | -301 | -52 | -251 | 122 | ||||
| -1 | -50 | -132 | -112 | -127 | 116 | -359 | -323 | -773 | ||||
| Net Cash Flow | -1 | 10 | -4 | -1 | 16 | 35 | -30 | 16 | 47 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 10 | 11 | 10 | 13 | 13 | 16 | 20 | 23 | 13 | 18 | 12 | 13 |
| Inventory Days | 209 | 230 | 218 | 221 | 214 | 243 | 241 | 293 | 284 | 276 | 274 | 228 |
| Days Payable | 85 | 92 | 82 | 89 | 108 | 129 | 129 | 207 | 141 | 126 | 99 | 81 |
| Cash Conversion Cycle | 134 | 148 | 146 | 145 | 119 | 129 | 132 | 109 | 155 | 168 | 186 | 160 |
| Working Capital Days | 59 | 79 | 75 | 66 | 55 | 65 | 43 | 25 | 41 | 56 | 52 | 58 |
| ROCE % | 39% | 36% | 32% | 40% | 31% | 21% | 9% | 20% | 24% | 20% | 19% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
19 Nov - Metro Brands investor meeting (Avendus Spark INDX) on Nov 18, 2025; institutional investors attended.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
13 Nov - Nov 13, 2025 investor meeting at Anand Rathi G200 Summit attended by eight institutional investors.
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
13 Nov - Allotment of 49,061 equity shares under Metro Stock Option Plan ("ESOP 2008")
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
5 Nov - Metro Brands investor meeting on Nov 5, 2025 (2–5pm); many mutual funds and asset managers attended.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
30 Oct - Group analyst/institutional investor meetings scheduled Nov 5, Nov 13, Nov 18, 2025 (physical).
Annual reports
Concalls
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Oct 2025Transcript PPT REC
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Aug 2025Transcript PPT
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May 2025Transcript PPT
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Jan 2025Transcript PPT
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Oct 2024Transcript PPT
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Oct 2024TranscriptNotesPPT
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Aug 2024Transcript PPT REC
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Jun 2024Transcript PPT
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Feb 2024TranscriptPPT
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Jan 2024Transcript PPT REC
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Oct 2023Transcript PPT
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Oct 2023TranscriptNotesPPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Jan 2023Transcript PPT
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Oct 2022Transcript PPT
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Oct 2022TranscriptNotesPPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Jan 2022Transcript PPT
Network as of 9MFY25[1]
Store Formats: 8
Stores: 895 (57 stores added in 9MFY25)
States: 31
Cities: 203
Loyalty membership: 16+ mn
Vendors: 250