Metro Brands Ltd, originally known as Metro Shoes, is a leading multi-brand footwear retail company in India. Established in 1955 by Malik Tejani, the company began as a small shoe store in Colaba, Mumbai, named after the nearby Metro Cinema. Over the decades, Metro Brands has grown from a standalone outlet into one of India’s largest footwear retailers, with a strong presence across 136 cities in the country. It now operates a vast network of 598 showrooms, offering a wide array of footwear and fashion accessories.
The company’s portfolio includes popular brands such as Metro Shoes, Mochi Shoes, Walkway, FitFlop, and Da Vinchi, catering to diverse customer preferences. Metro Brands has also formed strategic partnerships with international brands like Crocs, making exclusive products available in the Indian market. In December 2021, the company went public, raising ₹1,367.5 crore (approximately $160 million) through its initial public offering (IPO). Metro Brands continues its expansion plans with a goal of adding 200 new stores over the next two years, reinforcing its commitment to growth and delivering quality products to its customers.
Latest News on Metro Brands
Metro Brands Ltd recently saw five of its promoters sell a 2.19% stake, valued at ₹749 crore. The buyers included Kotak Mahindra Mutual Fund and Citigroup Global Markets Mauritius. As a result, the promoters’ shareholding in the company has been reduced to 71%. In other developments, the company is preparing for its 47th Annual General Meeting, scheduled for September 19, 2024. This meeting will be held through video conferencing and other virtual platforms, enabling remote participation for attendees.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 74.20% | 74.20% | 74.17% | 74.16% | 74.16% |
| FIIs + | 2.61% | 2.33% | 2.69% | 2.68% | 3.05% |
| DIIs + | 5.72% | 6.10% | 5.98% | 6.02% | 5.59% |
| Public + | 17.45% | 17.36% | 17.16% | 17.13% | 17.19% |
| No. of Shareholders | 63,451 | 62,690 | 58,872 | 62,653 | 64,470 |
The shareholding pattern of Metro Brands Ltd. over the period from June 2023 to June 2024 reflects slight shifts among different categories of shareholders. Promoters held a steady majority, starting at 74.20% in June 2023 and gradually decreasing to 74.16% by March 2024, remaining unchanged through June 2024. Foreign Institutional Investors (FIIs) experienced fluctuations, with their stake increasing from 2.61% in June 2023 to 3.05% by June 2024. Domestic Institutional Investors (DIIs) saw a minor decrease, starting at 5.72% in June 2023, peaking at 6.10% in September 2023, and settling at 5.59% in June 2024. The public shareholding remained relatively stable, hovering between 17.45% in June 2023 and 17.19% in June 2024. The number of shareholders exhibited some variation, starting at 63,451 in June 2023 and increasing to 64,470 by June 2024, reflecting a growing base of investors.
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➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| September 2024 | 1,267.35 | 1,102.05 |
| October 2024 | 1,254.81 | 1,091.14 |
| November 2024 | 1,305.00 | 1,134.78 |
| December 2024 | 1,318.05 | 1,146.13 |
As we step into September 2024, Metro Brands Ltd is expected to see its maximum share price reach ₹1,267.35, while the minimum price is anticipated to be around ₹1,102.05. Moving forward to October 2024, the maximum price of Metro Brands may slightly decrease to ₹1,254.81, with a minimum of ₹1,091.14. In November 2024, the share price could climb again, with the maximum projected to be ₹1,305.00 and the minimum likely to be ₹1,134.78. Finally, as we approach December 2024, Metro Brands’ stock is forecasted to reach a peak of ₹1,318.05, while the lowest price could be around ₹1,146.13.
| When | Maximum Price | Minimum Price |
| January 2025 | 1,331.23 | 1,024.02 |
| February 2025 | 1,344.68 | 1,034.37 |
| March 2025 | 1,372.91 | 1,056.09 |
| April 2025 | 1,359.32 | 1,045.63 |
| May 2025 | 1,319.73 | 1,015.18 |
| June 2025 | 1,379.12 | 1,060.86 |
| July 2025 | 1,352.07 | 1,040.06 |
| August 2025 | 1,393.89 | 1,072.22 |
| September 2025 | 1,410.62 | 1,085.09 |
| October 2025 | 1,447.29 | 1,113.30 |
| November 2025 | 1,483.48 | 1,141.14 |
| December 2025 | 1,550.23 | 1,192.49 |
As we move into 2025, Metro Brands Ltd’s stock prices are expected to fluctuate, with January seeing a maximum of ₹1,331.23 and a minimum of ₹1,024.02. Prices could rise through the year, with March reaching ₹1,372.91 and August seeing ₹1,393.89. By September, the stock is likely to hit ₹1,410.62, and in November, it may reach ₹1,483.48. As we approach December 2025, Metro Brands could see its highest price for the year at ₹1,550.23, with a minimum of ₹1,192.49.
| When | Maximum Price | Minimum Price |
| January 2026 | 1,596.74 | 1,228.26 |
| February 2026 | 1,556.82 | 1,197.56 |
| March 2026 | 1,587.96 | 1,221.51 |
| April 2026 | 1,620.37 | 1,246.43 |
| May 2026 | 1,604.32 | 1,234.09 |
| June 2026 | 1,644.43 | 1,264.95 |
| July 2026 | 1,612.19 | 1,240.14 |
| August 2026 | 1,662.05 | 1,278.50 |
| September 2026 | 1,695.29 | 1,304.07 |
| October 2026 | 1,739.37 | 1,337.97 |
| November 2026 | 1,782.85 | 1,371.42 |
| December 2026 | 1,827.42 | 1,405.71 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,845.70 | 1,419.77 |
| February 2027 | 1,893.02 | 1,456.17 |
| March 2027 | 1,966.85 | 1,512.96 |
| April 2027 | 1,928.28 | 1,483.30 |
| May 2027 | 1,872.12 | 1,440.09 |
| June 2027 | 1,956.37 | 1,504.90 |
| July 2027 | 1,918.01 | 1,475.39 |
| August 2027 | 1,977.33 | 1,521.02 |
| September 2027 | 2,046.53 | 1,574.26 |
| October 2027 | 2,099.74 | 1,615.19 |
| November 2027 | 2,152.23 | 1,655.57 |
| December 2027 | 2,206.04 | 1,696.95 |
| When | Maximum Price | Minimum Price |
| January 2028 | 2,250.16 | 1,730.89 |
| February 2028 | 2,307.86 | 1,775.28 |
| March 2028 | 2,397.86 | 1,844.51 |
| April 2028 | 2,350.85 | 1,808.34 |
| May 2028 | 2,282.38 | 1,755.67 |
| June 2028 | 2,385.08 | 1,834.68 |
| July 2028 | 2,338.32 | 1,798.71 |
| August 2028 | 2,410.64 | 1,854.34 |
| September 2028 | 2,495.01 | 1,919.24 |
| October 2028 | 2,559.88 | 1,969.14 |
| November 2028 | 2,623.88 | 2,018.37 |
| December 2028 | 2,689.47 | 2,068.82 |
| When | Maximum Price | Minimum Price |
| January 2029 | 2,743.26 | 2,110.20 |
| February 2029 | 2,813.60 | 2,164.31 |
| March 2029 | 2,923.33 | 2,248.72 |
| April 2029 | 2,866.01 | 2,204.62 |
| May 2029 | 2,782.54 | 2,140.41 |
| June 2029 | 2,907.75 | 2,236.73 |
| July 2029 | 2,850.74 | 2,192.87 |
| August 2029 | 2,938.90 | 2,260.69 |
| September 2029 | 3,041.76 | 2,339.82 |
| October 2029 | 3,120.85 | 2,400.65 |
| November 2029 | 3,198.87 | 2,460.67 |
| December 2029 | 3,278.84 | 2,522.19 |
| When | Maximum Price | Minimum Price |
| January 2030 | 3,344.42 | 2,572.63 |
| February 2030 | 3,430.17 | 2,638.60 |
| March 2030 | 3,563.95 | 2,741.50 |
| April 2030 | 3,494.07 | 2,687.75 |
| May 2030 | 3,392.30 | 2,609.46 |
| June 2030 | 3,544.95 | 2,726.89 |
| July 2030 | 3,475.45 | 2,673.42 |
| August 2030 | 3,582.93 | 2,756.10 |
| September 2030 | 3,708.34 | 2,852.57 |
| October 2030 | 3,804.75 | 2,926.73 |
| November 2030 | 3,899.87 | 2,999.90 |
| December 2030 | 3,997.37 | 3,074.90 |
As we step into 2030, Metro Brands Ltd’s stock is projected to start with a maximum of ₹3,344.42 and a minimum of ₹2,572.63 in January. Throughout the year, prices are expected to rise, reaching ₹3,563.95 at the end of March and peaking at ₹3,997.37 by December, with a minimum of ₹3,074.90.
Financial Condition of Metro Brands Ltd: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,285 | 800 | 1,343 | 2,127 | 2,357 | 2,350 |
| Expenses + | 930 | 625 | 930 | 1,447 | 1,653 | 1,657 |
| Operating Profit | 355 | 175 | 412 | 680 | 704 | 693 |
| OPM % | 28% | 22% | 31% | 32% | 30% | 30% |
| Other Income + | 23 | 76 | 55 | 53 | 66 | 80 |
| Interest | 40 | 45 | 50 | 63 | 79 | 81 |
| Depreciation | 121 | 122 | 134 | 181 | 229 | 235 |
| Profit before tax | 218 | 85 | 283 | 489 | 462 | 457 |
| Tax % | 27% | 23% | 25% | 26% | 11% | |
| Net Profit + | 161 | 65 | 214 | 365 | 415 | 414 |
| EPS in Rs | 11.8 | 2.57 | 7.79 | 13.3 | 15.17 | 15.13 |
| Dividend Payout % | 25% | 58% | 29% | 30% | 33% |
Metro Brands Ltd. has shown consistent growth in its financial performance over the years, with notable improvements in sales, profitability, and efficiency. From March 2020 to March 2024, the company’s sales increased steadily from ₹1,285 crore in 2020 to ₹2,357 crore in 2024, with a slight dip in 2021 due to the pandemic. Expenses also rose during this period, from ₹930 crore in 2020 to ₹1,653 crore in 2024. Despite rising costs, the company maintained healthy operating profits, growing from ₹355 crore in 2020 to ₹704 crore in 2024, with an Operating Profit Margin (OPM) fluctuating between 22% and 32%.
Other income remained steady, contributing positively to the company’s financials, with the highest other income of ₹80 crore reported in the trailing twelve months (TTM). Interest and depreciation expenses increased over time, reflecting higher borrowing and asset expansion, with interest rising from ₹40 crore in 2020 to ₹79 crore in 2024, and depreciation climbing from ₹121 crore to ₹229 crore.
Profit before tax improved significantly, from ₹218 crore in 2020 to ₹462 crore in 2024, despite a slight dip in 2023. The company benefited from a lower tax rate of 11% in 2024, down from 27% in 2020, resulting in a net profit of ₹415 crore in 2024, up from ₹161 crore in 2020. Earnings per share (EPS) also rose steadily from ₹11.8 in 2020 to ₹15.17 in 2024. Metro Brands maintained a consistent dividend payout policy, with payout percentages ranging from 25% to 33% over the years.
FAQs
What is Metro Brands current market capitalization?
Metro Brands is currently valued at approximately ₹33,848 crore in the market.
As of September 19, 2024, Metro Brands shares are trading at ₹1,245.
Metro Brands aims for its share price to range from ₹1,015.18 to ₹1,550.23 throughout 2025, reflecting optimistic growth expectations.
Looking ahead, Metro Brands anticipates its share price to potentially reach between ₹3,074.90 and ₹3,997.37 by December 2030, underlining its long-term growth strategy.
What is Metro Brands price-to-earnings (P/E) ratio?
Currently, Metro Brands stock is trading at a P/E ratio of 82.3, reflecting its valuation relative to earnings.
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Conclusion:
Metro Brands Ltd has demonstrated remarkable financial growth and resilience over recent years. The company’s sales have surged from ₹1,285 crore in March 2020 to ₹2,357 crore in March 2024, with operating profits and net profits also showing substantial increases. Its consistent EPS growth and robust dividend payouts highlight its strong financial health and commitment to shareholder returns.
Recent news, including the stake sale by promoters and the upcoming Annual General Meeting, underscores Metro Brands’ strategic focus on governance and shareholder engagement. With ambitious expansion plans and positive share price projections, including a potential peak of ₹1,550.23 by December 2025 and ₹3,997.37 by December 2030, Metro Brands Ltd is well-positioned for continued success and growth in the retail sector.
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