Metro Brands Ltd. · NSE:METROBRAND
Metro Brands — H1 FY2027 Earnings Presentation
38 slides from Metro Brands's earnings presentation, Oct 15, 2026
Slide 1: Cover letter to stock exchanges
October 15, 2026 To, To, The Manager The Manager Listing Department Listing Department BSE Limited, National Stock Exchange of India Ltd, Phiroze JeeJeeBhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, Mumbai – 400001 (E) G Block, Bandra Kurla Complex, Bandra Maharashtra, India (Ea
Slide 2: H1 FY2026-27 Earnings Presentation
H1 FY2026-27 EARNINGS PRESENTATION 15th October 2026
Slide 3: Brief Overview
metro BRANDS BRIEF OVERVIEW
Slide 4: Our Journey
Our Journey 1955 Started first Metro Store 2000 Launch of Mochi MBO Launch of Walkway MBO 2009 • Launch of E-commerce 2010 • Hits 100 stores 2015 Tie-up with Crocs • Exclusive tie up with Fitflop 2021 • Hits 600 stores 2022 • Listed on BSE, NSE • Acquired Cravatex Brands Ltd • Exclusive license for
Slide 5: Our story in numbers
Our story in numbers Company Facts Performance in H1 FY27 9 Rs 1,451 crores store formats Revenue from operations 13.4% YoY growth 1,053 Rs 413 crores Stores EBITDA 28.5% EBITDA margin 31 70% States & Union territories Revenue contribution of in-house brands at MBOs 223 Cities 11% YoY growth Q1: 1 n
Slide 6: One Stop Shop for all Footwear Needs
One Stop Shop for all Footwear Needs Sep’26 / (MBO) (MBO) (EBO) (MBO) (EBO) (EBO) (MBO) (EBO) (MBO) H1FY27 Target Value Family Youth Premium Premium Premium Premium Premium Premium Customer Format No. of. Stores 379 291 239 108 14 4 7 81 3 Cities 186 140 104 71 10 4 4 5 3 Price Range 2,000 – 2,000 –
Slide 7: One Stop Shop for all Footwear Needs
One Stop Shop for all Footwear Needs (as of Sep 2026) 379 291 108 239 14 7 8 4 3 6 Note: The above map is not to scale and is for illustrative purposes only.
Slide 8: One Stop Shop for all Footwear Needs
One Stop Shop for all Footwear Needs PAN India Presence with 1053 Stores I 223 Cities I 31 States and UTs (As of Sep’26) Zone wise1 Tier wise1 Location Wise1 West Tier III Metro South 30% 18% cities 33% 29% High Street 57% Tier II 25% North East Malls 13% Tier I 24% 28% 43% Primarily follows “Compan
Slide 9: Q2 & H1 FY27 Financial Highlights
Q2 & H1 FY27 FINANCIAL HIGHLIGHTS
Slide 10: Q2: Business Highlights
Q2 : Business Highlights Standalone Consolidated In INR Crore Q2 FY27 Q2 FY26 YoY Growth% Q2 FY27 Q2 FY26 YoY Growth% Revenue 712 636 11.9% Revenue 730 651 12.2% EBITDA 193 167 15.4% EBITDA 198 171 15.8% EBITDA% 27.1% 26.3% EBITDA% 27.1% 26.2% PAT 73 64 13.9% PAT 77 69 12.0% PAT% 10.3% 10.1% PAT% 10
Slide 11: H1: Business Highlights
H1 : Business Highlights Standalone Consolidated In INR Crore H1 FY27 H1 FY26 YoY Growth% H1 FY27 H1 FY26 YoY Growth% Revenue 1,413 1,251 13.0% Revenue 1,451 1,279 13.4% EBITDA 404 360 12.0% EBITDA 413 366 12.9% EBITDA% 28.6% 28.8% EBITDA% 28.5% 28.6% PAT 164 161 2.3% PAT 173 168 2.8% PAT% 11.6% 12.
Slide 12: H1 Business Highlights (Standalone)
H1 Business Highlights (Standalone) Revenue from Operations and Revenue per sq.ft Gross Profit and Gross Margins 4,350 4,300 5,150 4,750 4,350 4,250 59.7% 55.4% 59.4% 57.9% 59.7% 57.6% 789 757 469 702 712 439 636 419 410 615 367 352 H1 FY26: 1,251 ;8,500 H1 FY27: 1,413 ; 8,550 H1 FY26: 719 ; 57.5% H
Slide 13: H1 Business Highlights (Consolidated)
H1 Business Highlights (Consolidated) Revenue from Operations Gross Profit and Gross Margins 811 59.3% 55.3% 59.1% 57.8% 59.5% 57.4% 773 720 730 628 651 479 447 428 419 373 360 H1 FY26: 1,279 H1 FY27: 1,451 H1 FY26: 732 ; 57.3% H1 FY27: 848 ; 58.4% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q1
Slide 14: Update on new business formats
Update on new business formats Clarks ❑ We now have Clark’s ladies’ range in more than 400 MBOs and limited men’s range in more than 100 MBOs. ❑ We expect to get supply of complete EBO product range by Q3 from Clarks. Post stabilization of supply chain & assortment, Clarks EBO’s are expected to be l
Slide 15: Year wise Store additions - Standalone
Year wise Store additions - Standalone Stores 624 +18% 739 +13% 836 +9% 908 +14% 1032 +1% 1041 + 1% 1053 124 9 12 1053 70 # 97 115 624 H1 : 21 Opened 131 110 79 147 13 21 34 Opened Closed 16 13 9 23 4 9 13 Closed FY22 FY23 FY24 FY25 FY26 Jun'26 Sep'26 Sep'26 FY22 FY23 FY24 FY25 FY26 Jun26 Sep26 Metr
Slide 16: Profit & Loss Statement (Standalone)
Profit & Loss Statement (Standalone) In INR Crore Particulars Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Revenue from Operations 712 702 636 1,413 1,251 2,797 Other Income 22 26 26 48 54 100 Total Income 734 727 662 1,461 1,305 2,897 EXPENSES Purchases of stock-in-trade 369 318 374 687 675 1,385 C
Slide 17: Profit & Loss Statement (Consolidated)
Profit & Loss Statement (Consolidated) In INR Crore Particulars Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Revenue from Operations 730 720 651 1,451 1,279 2,864 Other Income 23 26 28 49 57 104 Total Income 753 747 679 1,500 1,336 2,968 EXPENSES Purchases of stock-in-trade 380 324 387 704 696 1,424
Slide 18: Balance Sheet (Consolidated)
Balance Sheet (Consolidated) Balance Sheet In INR Crore As at As at As at As at Particulars September March 31, Particulars September March 31, 30, 2026 2026 30, 2026 2026 Non-current assets Equity Property, plant and equipment 450 447 Equity share capital 136 136 Capital work-in-progress 19 14 Othe
Slide 19: Cash Flow statement (Consolidated)
Cash Flow statement (Consolidated) In INR Crore For the six months For the six months Particulars ended ended September 30, 2026 September 30, 2025 Cash flow from Operating Activities Profit before tax for the period 229 221 Add: Non-cash items/re-classification 192 155 Operating profit before worki
Slide 20: MBL's Strengths
metro BRANDS MBL’S STRENGTHS
Slide 21: Our Key Strengths
Our Key Strengths 1 One of India's largest pan India footwear retailers1 with a brand appeal among aspirational consumer segments 2 Pivoting from primarily "Offline" to an "Omni-channel" enabled footwear & accessories retailer Wide range of brands and products catering to all occasions across age gr
Slide 22: One of India's largest pan India footwear retailers
1 One of India's largest pan India footwear retailers1 with a brand appeal among aspirational consumer segments 624 739 836 908 1032 1053 13% 15% 14% 15% 13% 14% 13% 15% 13% 14% 13% 14% 25% 23% 25% 22% 24% 22% 24% 23% 24% 24% 24% 22% …with diversified presence across regions2 32% 32% 31% 33% 33% 33%
Slide 23: Pivoting from Offline to Omni-channel
2 Pivoting from primarily "Offline" to an "Omni-channel" enabled footwear and accessories retailer E-commerce – Online & Omnichannel 14.5% 8.4% 7.6% 7.9% 11.0% 9.5% 10.9% 10.6% 13.9% 12.9% 13.6% ❑ Majority of online business comes through leading e- commerce marketplaces (Present on major E- 361 com
Slide 24: Wide range of brands and products (1/2)
3 Wide range of brands and products catering to all occasions across age groups and market segments resulting in strong customer loyalty (1/2) Product presence across multiple categories through Own and Third party brands Own Brands Casual Formal Sports Accessories Third Party Brands Zeolite Fitflop
Slide 25: Wide range of brands and products (2/2)
3 Wide range of brands and products catering to all occasions across age groups and market segments resulting in strong customer loyalty (2/2) Own Brands contribute ~ 70-75% of total store product sales at Targeting Mid and Premium Segment – Average Realization (Rs.) MBOs1 1,600 1,675 1,500 1,550 H1
Slide 26: Asset light business with an efficient operating model
4 Asset light business with an efficient operating model leading to sustained profitable growth 1 2 3 4 Outsourced Leveraging scale Identification of Variable Cost Manufacturing of operations store location Structure ✓ One of the few footwear ✓ One of the highest gross ✓ Robust store selection ✓ Lea
Slide 27: Efficient operating model through vendor engagements and machine learning
5 Efficient operating model through deep vendor engagements and advanced machine learning model for supply chain Long Standing Relationships with Vendors • 250+ vendors dealt with over last 3 fiscal years • 20+ years of relationship with certain vendors Leveraging omni channel distribution New Desig
Slide 28: Platform of choice for third party brands
6 Platform of choice for third party brands looking to expand in India ❑ Fila is one of the fastest- ❑ We have exclusive rights to ❑ FitFlop is renowned for offering growing global sportswear operate and own Crocs “full shoes designed for all-day wear, brands and has a rich heritage price” stores ac
Slide 29: Board of Directors
7 Board of Directors1 UTPAL HEMENDRA SHETH, VIKAS VIJAYKUMAR KHEMANI, MITHUN PADAM SACHETI, BHASKAR BHAT, Non-Executive Director (Nominee) Independent Director Independent Director Independent Director ❖ Holds bachelor’s degree in commerce ❖ Holds a degree in Mechanical Engineering from IIT ❖ He is
Slide 30: Promoters
7 Strong promoter background and an experienced and entrepreneurial management team with a proven track record RAFIQUE A. MALIK, FARAH MALIK BHANJI, ALISHA RAFIQUE MALIK, Chairman Managing Director President - Sports Division, E-Commerce and CRM ❖ Over 50 years of experience in the ❖ Over 20 years o
Slide 31: Strong track record of growth, profitability and financial discipline
8 Strong track record of growth, profitability and financial discipline Revenue from Operations Gross Profit and Gross Margins EBITDA and EBITDA Margins 16,800 10,150 15,450 19,800 18,700 18,200 17,300 55.6% 54.9% 57.9% 58.1% 58.1% 57.7% 57.9% 27.5% 21.5% 30.6% 32.0% 29.8% 30.3% 30.3% 2,864 869 2,50
Slide 32: Levers of Growth
metro BRANDS LEVERS OF GROWTH
Slide 33: Long term growth levers
Long term growth levers 1 3 5 2 4 Store Inorganic E-Commerce Expansion Plans Opportunities Expansion Leverage Multi-brand Evaluation basis Target to open Leverage existing Leverage Sports & Platform targeted returns, sustainable and capabilities to increase Athleisure Segment profitable stores acros
Slide 34: Sustainability Initiatives
SUSTAINABILITY INITIATIVES
Slide 35: CSR & Sustainability Initiatives (1/3)
CSR & Sustainability Initiatives (1/3) ❑ Processing of Old & Discarded Footwear (ODF) in an eco-friendly manner o Under this project, ODF is collected & then sorted, cut, and again sorted material wise as below: o Rubber and Plastic materials are sent for recycling. o Other totally worn off parts ar
Slide 36: CSR & Sustainability Initiatives (2/3)
CSR & Sustainability Initiatives (2/3) ❑ Education/ Skilling ❑ Well-Being • We are enhancing the employability of 400+ unemployed youth • We are creating awareness and early detection of hypertension, through practical on-the-job training at our retail outlets. diabetes & oral cancer through screeni
Slide 37: CSR & Sustainability Initiatives (3/3)
CSR & Sustainability Initiatives (3/3) ❑ Afforestation & Water conservation Before After We are planting approximately 25,000 fruit-bearing trees and rejuvenating six water harvesting structures in remote villages of Gujarat. The initiative is expected to replenish water equivalent to nearly 20% of
Slide 38: Disclaimer
Disclaimer • The information contained in this Presentation should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date of the Presentation. The information set out herein m