Slide 1: Exchange filing cover letter for investor presentation
May 20, 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 (East),
Slide 2: Metro Brands Limited FY2025-26 Earnings Presentation
METRO BRANDS LIMITED FY2025-26 EARNINGS PRESENTATION 20th May 2026
Slide 3: Brief Overview
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 FY26 9 Rs 2,864 crores store formats Revenue from operations 14.2% YoY growth 1,032 Rs 869 crores Stores EBITDA 30.3% EBITDA margin 31 73% States & Union territories Revenue contribution of in-house brands at MBOs 221 Cities 39% YoY growth Q1: 1 new
Slide 6: One Stop Shop for all Footwear Needs
One Stop Shop for all Footwear Needs Mar’26 / FY26 (MBO) (MBO) (EBO) (MBO) (EBO) (EBO) (MBO) (EBO) (MBO) Target Value Family Youth Premium Premium Premium Premium Premium Premium Customer Format No. of. Stores 374 288 232 103 13 4 6 91 3 Cities 185 137 100 68 9 3 4 5 3 Price Range 2,000 – 2,000 – 10
Slide 7: One Stop Shop for all Footwear Needs: Network of Retail Outlets
One Stop Shop for all Footwear Needs Network of Retail Outlets (as of Mar’26) 374 288 103 232 13 6 9 4 3 6 Note: The above map is not to scale and is for illustrative purposes only.
Slide 8: PAN India Presence with 1032 Stores
One Stop Shop for all Footwear Needs PAN India Presence with 1032 Stores I 221 Cities I 31 States and UTs (As of Mar’26) Zone wise1 Tier wise1 Location Wise1 West Tier III Metro South 30% 17% cities 33% 30% High Street 56% Airports 1% Tier II 25% North East Tier I Malls 24% 13% 28% 43% Primarily fol
Slide 9: Q4 & FY26 Financial Highlights
Q4 & FY26 FINANCIAL HIGHLIGHTS
Slide 10: Q4: Business Highlights
Q4 : Business Highlights Standalone Consolidated In INR Crore Q4 FY26 Q4 FY25 YoY Growth% Q4 FY26 Q4 FY25 YoY Growth% Revenue 757 632 19.8% Revenue 773 643 20.3% EBITDA 234 195 20.2% EBITDA 238 198 20.5% EBITDA% 31.0% 30.9% EBITDA% 30.8% 30.7% PAT 115 97 17.6% PAT 118 95 23.5% PAT% 15.1% 15.4% PAT%
Slide 11: Full Year: Business Highlights
Full Year : Business Highlights Standalone Consolidated In INR Crore FY26 FY25 YoY Growth% FY26 FY25 YoY Growth% Revenue 2,797 2,450 14.2% Revenue 2,864 2,507 14.2% EBITDA 854 748 14.1% EBITDA 869 759 14.5% EBITDA% 30.5% 30.6% EBITDA% 30.3% 30.3% PAT 400 350 14.6% PAT 416 354 17.3% PAT% 14.3% 14.3%
Slide 12: Q4 & FY Business Highlights (Standalone)
Q4 & FY Business Highlights (Standalone) Revenue from Operations and Revenue per sq.ft Gross Profit and Gross Margins 4,500 4,300 5,150 4,750 4,350 4,300 5,150 4,750 60.0% 55.0% 59.1% 57.5% 59.7% 55.4% 59.4% 57.9% 789 757 469 688 439 632 615 636 406 563 567 363 367 352 338 312 FY25: 2,450 ; 18,200 F
Slide 13: Q4 & FY Business Highlights (Consolidated)
Q4 & FY Business Highlights (Consolidated) Revenue from Operations Gross Profit and Gross Margins 811 59.5% 55.0% 58.6% 57.5% 59.3% 55.3% 59.1% 57.8% 773 703 643 628 651 479 576 585 447 412 369 373 360 343 322 FY25: 2,507 FY26: 2,864 FY25: 1,447 ; 57.7% FY26: 1,659 ; 57.9% Q1 FY25 Q2 FY25 Q3 FY25 Q4
Slide 14: Strategic partnership with Clarks (Jun25)
Strategic partnership with Clarks (Jun25) About Clarks ❑ C. & J. Clark International Limited (trading as Clarks) is a British footwear manufacturer and retailer founded in 1825. ❑ A global leader and pioneer in comfort footwear, Clarks operates 320 stores across the United Kingdom and Ireland, along
Slide 15: Launch of MetroActiv (Nov25)
Launch of MetroActiv (Nov25) Launch of MetroActiv ❑ MBL launched MetroActiv, a dynamic, multi-brand retail destination, expanding its portfolio into the sports performance segment. ❑ MetroActiv brings together leading global brands such as Nike, adidas, Puma, ASICS, Skechers, New Balance, FILA, and
Slide 16: Update on new business formats
Update on new business formats Launch of Foot Locker ❑ Metro Brands Limited (MBL) signed a long-term licensing agreement with Foot Locker, Inc., the New York-based specialty athletic retailer in Q3 FY24. ❑ The Company launched its first Foot Locker store in India, at New Delhi's Nexus Select City Wa
Slide 17: Year wise Store additions - Standalone
Year wise Store additions - Standalone Stores 586 +6% 624 +18% 739 +13% 836 +9% 908 +2% 928 +4% 966 +2% 990 +4% 1032 24 42 1032 # 20 38 70 97 115 35 38 FY : 124 551 Opened 56 75 131 110 79 23 42 35 47 147 Opened Closed 21 37 16 13 9 3 4 11 5 23 Closed FY20 FY21 FY22 FY23 FY24 FY25 Jun'25 Sep'25 Dec'
Slide 18: Profit & Loss Statement (Standalone)
Profit & Loss Statement (Standalone) In INR Crore Particulars Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25 Revenue from Operations 757 789 632 2,797 2,450 Other Income 31 15 27 100 95 Total Income 788 805 659 2,897 2,545 EXPENSES Purchases of stock-in-trade 321 389 224 1,385 962 Changes in inventories of stock
Slide 19: Profit & Loss Statement (Consolidated)
Profit & Loss Statement (Consolidated) In INR Crore Particulars Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25 Revenue from Operations 773 811 643 2,864 2,507 Other Income 31 16 23 104 93 Total Income 804 827 666 2,968 2,600 EXPENSES Purchases of stock-in-trade 329 400 230 1,424 988 Changes in inventories of sto
Slide 20: Balance Sheet (Consolidated)
Balance Sheet (Consolidated) Balance Sheet In INR Crore As at As at As at As at Particulars March 31, March 31, Particulars March 31, March 31, 2026 2025 2026 2025 Non-current assets Equity Property, plant and equipment 447 371 Equity share capital 136 136 Capital work-in-progress 14 9 Other equity
Slide 21: Cash Flow statement (Consolidated)
Cash Flow statement (Consolidated) In INR Crore For the year ended For the year ended Particulars March 31, 2026 March 31, 2025 Cash flow from Operating Activities Profit before tax for the year 550 502 Add: Non-cash items/re-classification 341 275 Operating profit before working capital changes 891
Slide 22: Metro's Strengths
metro ae BRANDS seit METRO’S STRENGTHS
Slide 23: 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 24: 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 551 586 624 739 836 908 1032 13% 14% 13% 16% 13% 15% 14% 15% 13% 14% 13% 15% 13% 14% 23% 21% 24% 22% 25% 23% 25% 22% 24% 22% 24% 23% 24% 24% …with diversified presence across regions2 31%
Slide 25: Pivoting from Offline to Omni-channel retailer
2 Pivoting from primarily "Offline" to an "Omni-channel" enabled footwear and accessories retailer E-commerce – Online & Omnichannel 2.5% 7.3% 8.4% 7.9% 9.5% 10.6% 12.9% ❑ Majority of online business comes through leading e- 361 commerce marketplaces (Present on major E-commerce marketplaces) 259 21
Slide 26: 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 27: 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 1,550 1,600 1,450 1,500 FY
Slide 28: 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 29: 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 30: Platform of choice for third party brands
6 Platform of choice for third party brands looking to expand in India ❑ We have exclusive rights ❑ FitFlop is renowned for ❑ Fila is one of the fastest- ❑ Foot Locker, Inc. is an ❑ New Era Cap, LLC. is to operate and own offering shoes designed for growing global sportswear American premium sports
Slide 31: Board of Directors
7 Board of Directors1 UTPAL HEMENDRA SHETH, ARVIND KUMAR SINGHAL, VIKAS VIJAYKUMAR KHEMANI, MITHUN PADAM SACHETI, Non-Executive Director (Nominee) Independent Director Independent Director Independent Director ❖ He is a Cost Accountant and CFA and ❖ Holds a bachelor’s degree in ❖ Fellow Member of th
Slide 32: Promoters and management team
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 33: 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 17,500 16,800 10,150 15,450 19,800 18,700 18,200 17,300 54.9% 55.6% 54.9% 57.9% 58.1% 58.1% 57.7% 57.9% 27.7% 27.5% 21.5% 30.6% 32.0% 29.8% 30.3% 3
Slide 34: Levers of Growth
metro BRANDS LEVERS OF GROWTH
Slide 35: Key Strategies
Key Strategies 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 across operati
Slide 36: Sustainability Initiatives
SUSTAINABILITY INITIATIVES
Slide 37: 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 38: CSR & Sustainability Initiatives (2/3)
CSR & Sustainability Initiatives (2/3) ❑ Education/ Skilling We are supporting to increase the We are sponsoring school fees We are introducing digitized smart We are sponsoring to construct a employability quotient of more and counselling charges for more class program and supporting lecture theate
Slide 39: CSR & Sustainability Initiatives (3/3)
CSR & Sustainability Initiatives (3/3) ❑ Afforestation & ❑ Well-Being Water conservation We are creating awareness and early detection of hypertension, We are planting ~25,000 fruit-bearing trees and refurbishing two diabetes & oral cancer through screening in ~2000 cobblers as water harvesting stru
Slide 40: 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