Metro Brands LimitedRetailMETROBRAND
Q1 FY27 concall · earnings callMetro Brands Limited
Metro Brands reported FY26 consolidated revenue of INR2,864 crores, up 14.2%, with profit after tax up 17.3% to INR416 crores, while crossing 1,032 stores and growing e-commerce to 12.9% of revenue.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Consolidated revenue from operations - FY26 | ₹2,864 Cr | +14.2% | |
| EBITDA - FY26 | ₹869 Cr | +14.5% | |
| Profit after tax - FY26 | ₹416 Cr | +17.3% | |
| EBITDA margin - FY26 | 30.3% | — | |
| Store network - March 26 | 1,032 stores | +124 net additions | |
| E-commerce share of revenue - FY26 | 12.9% | +39% |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹703.09 Cr+10.6% YoY+20.1% QoQ | ₹95.08 Cr-3.7% YoY+32.5% QoQ | ₹3.48-3.3% YoY+35.9% QoQ |
| Q2 FY25 | ₹585.45 Cr+5.4% YoY+1.6% QoQ | ₹71.77 Cr+6.1% YoY-22.2% QoQ | ₹2.56+4.5% YoY-24% QoQ |
| Q1 FY25 | ₹576.08 Cr-1.1% YoY-1.2% QoQ | ₹92.27 Cr-1.3% YoY-40.7% QoQ | ₹3.37-1.5% YoY-41% QoQ |
| Q4 FY24 | ₹582.98 Cr+7.1% YoY-8.3% QoQ | ₹155.57 Cr+126.3% YoY+57.5% QoQ | ₹5.71+126.6% YoY+58.6% QoQ |
| Q3 FY24 | ₹635.50 Cr+6.1% YoY+14.4% QoQ | ₹98.78 Cr-12.6% YoY+46.1% QoQ | ₹3.60-12.6% YoY+46.9% QoQ |
TL;DR
- Consolidated revenue from operations grew by 14.2% to INR2,864 crores, with revenue growth progressing from 9% in quarter one to 20% in quarter four.
- EBITDA increased by 14.5% to INR869 crores at 30.3% margin, and profit after tax rose by 17.3% to INR416 crores.
- Store network reached 1,032 stores after opening 147 stores and closing 23, rising to 1,041 stores as of June 2026.
- E-commerce revenue increased by 39% to contribute 12.9% of overall revenue, with footwear volume growth of 9% and average price increase of approximately 3% in FY26.
Said on the call
“Crossing the 1,000-store mark reflects the depth and versatility of the platform we have built.”
From the Q&A
| Topic | What management said |
|---|---|
| Store productivity and capital efficiency | A shareholder asked about revenue per square foot declining from INR18,200 to INR17,300 and ROCE from 21.3% to 19.6%, incremental returns and payback for new stores, and whether expansion should slow; management said majority of mature stores are profitable, closures have been limited to around 2% to 3%, ROCE remains relatively stable and payback continues to be two years. |
| Store expansion plans | Shareholders asked about expansion in Tier 2 and Tier 3 cities, Haryana, and net openings in FY27; management said focus remains on metros, Tier 1 and Tier 2 cities and emerging markets including Haryana, with each store evaluated for financial viability, and disclosed 1,032 stores as of March 26 increasing to 1,041 stores as of June 2026 without giving a fixed FY27 number. |
| Growth, volume and pricing | Asked about annual revenue growth outlook, FY26 volume growth, and price increases; management said footwear volume growth was 9% in FY26, average price increase was approximately 3% reflecting product mix and input cost improvements, and it expects healthy growth supported by store expansion, brand growth and e-commerce. |
| Competition and e-commerce | Asked about competitive intensity and online strategy; management said e-commerce contributed 12.9% of revenue in FY26 with year-on-year growth of 39%, competition remains high across segments and price points, and its diversified brand portfolio and retail presence help it compete. |
Guidance
- Continue disciplined network expansion in FY27, with final store additions guided by location availability, brand potential and expected returns.
- Expect healthy growth over coming years supported by store expansion, brand growth and e-commerce.
- Take FY27 pricing actions judiciously based on customer demand, competitive intensity and cost movements.
Source
Summary written from the transcript filed by Metro Brands Limited for the call held on 16 Sept 2026; published 23 Sept 2026, 16:39 IST.
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