Metro Brands Ltd

Business Overview

• One of India's largest pan-India footwear retailers; omni-channel focus.
• COCO model; outsourced manufacturing; 1,053 stores across 31 states/UTs.
• Exclusive partnerships with Crocs, Foot Locker, Fitflop, New Era, Fila, Clarks for India.
• Focus on mid & premium segments; strong brand and vendor relationships.

Key Operational Highlights

• H1 FY27 revenue 1,451 crore; 13.4% YoY growth.
• Q2 FY27 consolidated revenue 730 crore; EBITDA 198 crore; PAT 77 crore.
• E-commerce contribution 13.6% of H1 revenue; 14.2% in Q2.
• 34 net store openings in H1; 21 new stores in Q2; 13 closures in H1.

Financial Performance

• Standalone Q2 revenue 712 crore; EBITDA 193 crore; PAT 73 crore.
• Consolidated H1 revenue 1,451 crore; EBITDA 413 crore; PAT 173 crore.
• EBITDA margin 27.1% (Q2); PAT margin 10.6% (Q2).

Capital Structure & Liquidity

• Cash and cash equivalents INR 35 crore as of Sep-26.
• Net cash from operating activities INR 248 crore in H1 FY27.
• Balance sheet shows healthy equity base; no major debt action disclosed.

Strategic Priorities & Outlook

• Expand H1 FY27 new formats; shift to EBO-led expansion for New Era.
• Clarks EBO supply expected by Q3 FY27; full rollout later FY27.
• Local manufacturing for Fila due to BIS; expansion pace from FY29.

Risks & Mitigation

• BIS-related supply-chain challenges for external brands; normalization underway.
• Supply chain readiness and expansion pace monitored; calibrate store openings accordingly.

Governance & Leadership

• Independent directors and strong promoter-led management; dividend history since 2000.
• Board includes experienced directors; management team with track record in retail.

Key financials

• Consolidated revenue ₹730 crore, up 12.2% YoY.
• EBITDA ₹198 crore, margin 27.1%, up 15.8% YoY.
• PAT ₹77 crore, margin 10.6%.

Operational footprint

• Ecommerce (omni-channel) grew 12% YoY, 14.2% of revenue.
• 21 new stores opened; 9 closures in quarter.
• Total stores 1,053 across 223 cities and 31 states/UTs.

Standalone performance

• Q2 Sep 30, 2026: Revenue from operations 711.79 cr; Total income 733.98 cr.
• Q2 PBT 97.50 cr; PAT 73.00 cr; EPS Basic 2.68; EPS Diluted 2.67.
• Six-months ended Sep 30, 2026: Total income 1,461.38 cr; PAT 164.37 cr; EPS 6.03.
• Final dividend Rs 3.00 per share; paid Sep 28, 2026.
• ESOPs: 3,30,619 options granted; 46,172 exercised in quarter.
• Standalone assets: Total assets 4,063.16 cr; equity 2,045.96 cr.
• Six-months cash flow: operating cash 245.50 cr; capex 56.25 cr.

Consolidated snapshot & balance sheet

• Consolidated Q2 total income 753.21 cr; six months 1,499.88 cr.
• Consolidated assets 4,151.39 cr; consolidated equity 2,127.94 cr.

Business model & operations

• Single reporting segment; premium and economy fashion footwear, bags, accessories in India.

Cybersecurity incident update

• Cybersecurity incident involving unauthorised activity in the IT environment, including Active Directory.
• Unauthorised privileged activity with suspected credential-access attempts and malicious communications across multiple systems.
• Containment and remediation measures commenced with cybersecurity partners.
• Specialised investigators engaged to determine root cause and recommend corrective actions.
• Preliminary assessment shows no material financial loss to date; full extent under investigation.
• CERT-In notified; measures to safeguard systems and operations are in place.
• Further updates will be provided as required under applicable regulations.
• Information also available on the company's website.

Meeting Details

• Date and time: Friday, October 16, 2026 at 3:30 PM IST.
• Type/mode: Investor/Analyst conference call (virtual).

Participants

• Company participants: Chairman; Managing Director; CEO; CFO; COO.
• Additional: President – Sports Division, E-Commerce and CRM.

Purpose

• Discuss unaudited Q2FY27 results for quarter and half-year ended September 30, 2026.

Metro Brands Ltd: Trading Window closed from Oct 01, 2026 until 48 hours after unaudited results for the quarter and half-year ending Sept 30, 2026

Meeting Details

• Date and time: September 23, 2026, 4:00 p.m.–5:00 p.m.
• Type and mode: Group meeting, physical
• Organizer: J.P. Morgan India Consumption Forum
• Investors attended: Azim Premji Trust; Dsp Investment Managers; Franklin Templeton; HSBC Global Asset Management; Sanlam Limited
• Company participants: not disclosed
• Purpose: Disclosure of outcome of Analyst/Institutional Investor meet

AGM Details

• Date, time, mode: 16 September 2026, 3:00 PM, via VC/OAVM.
• Cut-off/record date for voting: 9 September 2026.
• Remote e-voting window: 13–15 September 2026; IST.
• E-voting during meeting open; closes 30 minutes after start.
• Two directors unable to attend due to personal reasons.

Key Resolutions

• Ordinary: Adoption of financial statements and annual report for FY2025-26.
• Ordinary: Dividend recommendation for FY2025-26.
• Ordinary: Re-appointment/continuation of directors on term expiry.
• Ordinary: Appointment/ratification of statutory and secretarial auditors.
• Ordinary: Approval of material related party transactions.

Voting Results

• Adoption of financial statements: voting results not disclosed.
• Dividend recommendation: voting results not disclosed.
• Director re-appointments: voting results not disclosed.
• Auditor appointments: voting results not disclosed.
• RPT approvals: voting results not disclosed.

Dividend

• Dividend proposed/recommended; per-share amount not disclosed in transcript.

Director Changes

• Two directors unable to attend; no changes in board announced.

Auditor Appointments

• Statutory auditors attended; no new appointment announced.

Material Related Party Transactions

• No material related party transactions disclosed in transcript.

Other Material Approvals

• No other material approvals disclosed in transcript.

AGM Details

• Date, time, mode: 16 Sep 2026, 3:00 PM, VC/OAVM.
• Record date: 9 Sep 2026.
• Remote e-voting: 13–15 Sep 2026; AGM voting through NSDL.

Key Resolutions and Outcome

• Resolution 1 (Ord): Adopt standalone and consolidated financials — Passed (100%).
• Resolution 2 (Ord): Interim dividend paid; final dividend Rs 3 per share — Passed.
• Resolution 3 (Ord): Re-appoint Whole-time Director (rotating) — Passed (99.21%).
• Resolution 4 (Special): Re-appoint Farah Malik Bhanji as MD — Passed (99.16%).
• Resolution 5 (Special): Appoint Sonny Iqbal as Independent Director — Passed (99.999%).
• Resolution 6 (Special): Remuneration to Rafique Malik, Non-Executive Chairman — Passed (97.83%).
• Resolution 7 (Special): Amend METRO Stock Option Plan 2008 — Passed (96.83%).
• Resolution 8 (Special): Metro Brands Employee Stock Option Scheme 2026 — Passed (93.79%).
• Resolution 9 (Special): ESOPs for subsidiary/associate under METRO Stock Option Plan 2008 — Passed (94.10%).
• Resolution 10 (Special): ESOPs under Metro Brands Scheme 2026 — Passed (93.02%).
• Resolution 11 (Special): Secondary acquisition via Trust for plan 2008 and 2026 — Passed (94.56%).
• Resolution 12 (Special): Funds for Trust buy-back under both plans — Passed (93.79%).

Dividend Details

• Interim dividend already paid.
• Final dividend of Rs 3 per equity share declared.

Director Changes

• Re-appoint Whole-time Director (rotating) for a fresh term.
• Appoint Farah Malik Bhanji as Managing Director.
• Appoint Sonny Iqbal as Independent Director.

ESOP and Stock Option Plans

• Amendments to METRO Stock Option Plan 2008 approved.
• Metro Brands Employee Stock Option Scheme 2026 approved.
• ESOPs for subsidiary/associate under METRO Stock Option Plan 2008 approved.
• ESOPs for subsidiary/associate under Metro Brands 2026 Scheme approved.
• Secondary share acquisitions via Trust for plans approved.
• Funding for Trust buy-back under both plans approved.

Meeting Details

• Date: September 23, 2026; Time: 4:00 p.m.–5:00 p.m.
• Meeting type: Group meeting; Mode: Physical
• Event: Consumption Forum; Organizer: J.P. Morgan India

Participants

• Company management attendees not disclosed

Purpose

• Intimation of Schedule for Analyst/Institutional Investor meet

Additional Notes

• Schedule subject to change; discussions based on generally available information per Metro Brands Code of Conduct