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Metro Brands
SectorConsumer Discretionary
Metro Brands Limited is an Indian footwear and accessories specialty retailer founded in 1977. The company operates 854 stores across 195 cities in 31 states and union territories in India. It retails products under its own brands Metro, Mochi, Walkway, Da Vinchi, and J. Fontini, as well as third-party brands like Crocs, Skechers, Clarks, and FitFlop. Metro Brands offers footwear for men, women, unisex, and kids for various occasions, along with accessories such as belts, bags, socks, and wallets. The company distributes products through physical stores, websites, e-commerce marketplaces, and social media platforms. Its subsidiaries include Metmill Footwear Private Limited and Metro Atleisure Limited. In December 2021, Metro Brands went public with an IPO of Rs 1367 crore.
In the news
Metro Brands Q2 profit up 10% to ₹76 cr, shares rise 2.72%
Metro Brands posts 15% Q1 growth but faces valuation concerns
Kotak Securities Upgrades Metro Brands to 'Add' Despite Price Cut
Metro Brands Q1FY27 results: Mixed performance with recovery signs
Citi 'Sell' on United Breweries; Goldman Sachs maintains 'Buy'
Metro Brands Shows Strong E-commerce Growth in FY26
Metro Brands shares surge on strong Q4 results, broker upgrades
ITC Shares Fall 1.8% Despite Q4 Results: Technical Analysis Shows Weakness
Metro Brands shares rise 5% on 24% YoY profit growth in Q4FY26
Metro Brands gets buy rating, target Rs 1215: Motilal Oswal
Metro Brands Launches New Store Format, Expands Network
Metro Brands shares surge 10% on strong Q3 results
Metro Brands Q3 profit jumps 37% to ₹130 cr, declares ₹3 dividend
The Quarter story
The two most recent quarterly results, compared side-by-side.
Store network keeps growing, but margins and cash cycle are cooling.
Consolidated store count grew from 966 to 1,053 from Q2 FY26 to Q2 FY27 — wider footprint supports sales
EBITDA margin fell from 32.7% in Q3 FY26 to 27.1% in Q2 FY27 — festive margin not sustained
Crocs stores grew from 222 to 239 and cities from 100 to 104 from Q2 FY26 to Q2 FY27 — brand gaining reach
Inventories rose from ₹786 in Q2 FY26 to ₹957 in Q2 FY27 — stock build tying up cash
Mochi stores grew from 275 to 291 and cities from 131 to 140 from Q2 FY26 to Q2 FY27 — value brand scaling
Net core working capital days rose from 83 in Q2 FY26 to 97 in Q2 FY27 — slower cash cycle
Walkway stores grew from 84 to 108 and cities from 56 to 71 from Q2 FY26 to Q2 FY27 — mass brand gaining reach
Employee benefits expense rose from ₹66 in Q2 FY26 to ₹84 in Q2 FY27 — staffing costs rising
Ecommerce sales contribution held at 14.2% from Q2 FY26 to Q2 FY27 — digital mix stable
Financial liabilities rose from ₹1,242 in Q2 FY26 to ₹1,368 in Q2 FY27 — balance-sheet leverage increased