Metro Brands Share Price

Metro Brands Ltd is a retail chain company specialising in footwear and accessories. The first Metro store was opened in Mumbai in 1955 and today it has over 790 stores in 189 cities across India. The company also markets its products through its websites and leading e-commerce portals. Metro Brands was originally incorporated in 1977. Apart from major brands in the category, the company also retails footwear under its brands – Mochi, Walkway, Da Vinchi and J. Fontini. The company also retails accessories like belts, bags, socks, masks and wallets at its stores. Metro's offerings include footcare and shoe-care products at its stores through the joint venture MV Shoe Care Private Limited.

Business operations

Metro Brands opened its first multi-brand outlet under the brand name Mochi in 2000. Three years later, the company launched Signatures by Metro, a premium range of footwear collections designed by leading designers in the country. The lineup featured footwear designed by Rohit Bal, Manish Malhotra and Azeem Khan. During 2005-06, the company pushed for expansion and added 13 new stores to its network. The company added another 11 stores the next year, including maiden outlets in Jalandhar, Gurugram and Coimbatore.

During FY 2007-08, the company added 14 new showrooms to its network. In 2008-09, the company received ISO 9001-2008 certification for all their activities at their Corporate Office Warehouse and Colaba Showroom. The company launched the Walkway brand in 2009. The next year, the company launched its e-commerce platform and reached the target of 100 stores.

In 2009-10, Metro Brands Ltd promoted Metmill Footwear Pvt Ltd, a 51% subsidiary of the company, jointly with Sunil Shah of Millenium Marketing to take over their footwear business in Shoppers Stop, a leading retail chain in India.

In 2012, the company reached a target of 200 stores in the country and in the next eight years added 300 more outlets to its network. In 2021, the company issued its initial public offering (IPO) which consisted of an offer for sale and issue of fresh shares.

In April 2022, the company's first 1st FitFlop EBO store was launched in Chennai. Metro Brands Ltd breached the milestone of the 600-store landmark.

In FY23, the company acquired a 100% stake in Metro Athleisure Limited (MAL), making it a wholly-owned subsidiary of the company. In FY23, the company added 144 new stores, including the relocation of 13 existing stores to its network

Metro Brands Ltd has over 250 plus footwear vendor partners and the company's team includes more than 5200 employees as of FY23.

Metro Brands Ltd's market capitalisation is valued at over ₹34,000 crore as of January 10, 2024. Metro Brands share price has grown by over 45% in the last year.

Financial highlights

⦁ Metro Brands’ revenue from operation FY23 stood at ₹2,127 crore, recording a staggering 58% year-on-year growth, compared to ₹1,343 crore in the previous financial year. ⦁ The company reported a net profit of ₹365.4 crore in FY23 as against ₹214 crore in FY22. ⦁ The EBITDA stood at ₹681 crore in FY23, as compared to ₹410 crore in the previous financial year, recording an increase of 66%. ⦁ Its basic earnings per share (EPS) increased to ₹13.31 in FY23 from ₹8.01 in the previous financial year.