Date: May 22d, 2024
Mumbai, 22 May 2024: Metro Brands Limited, one of the largest Indian footwear specialty
retailer, today announced the Standalone and Consolidated Financial Results for the quarter
and FY ended 31st March 2024.
In FY’24, Metro Brands Limited recorded a Standalone revenue of Rs 2,305 crores with a YoY
revenue growth of 11%, driven by sustained consumer demand and strategic efforts. In Q4
FY’24, the Company achieved a YoY revenue growth of 10%. Ecommerce sales (including
omni-channel) for Q4 and full year FY’24 was Rs 41 crores and Rs 215 crores respectively i.e.
YoY growth of 25% and 33% respectively. Further, in FY’24, the company achieved gross
margin of 58% and a PAT margin of 18%. The total net stores opening for the year is 97.
During this quarter, Metro Brands Ltd. also extended its retail agreement with Crocs India,
granting exclusive rights to operate and own Crocs stores across the western and southern
states in India. Further, MBL will have rights to continue, renew & operate all existing stores
that are currently operational in northern & eastern states of India.
Commenting on the performance of the company Mr. Nissan Joseph, CEO, Metro Brands
Limited, said, “Despite the high base effect in FY’23 due to post Covid19 easing, I am pleased
to see our sales grow by 11% YoY. Additionally, our sales per square foot have increased from
Rs 17,500 per sq. ft. in FY'19 to Rs 18,700 per sq. ft. in FY24, reflecting our successful
adaptation to the new market conditions and the ongoing normalization post-Covid. Our
strategic initiatives and robust operational frameworks have enabled us to maintain our
performance, ensuring that we continue to meet the needs of our customers and
stakeholders effectively. We are confident that our agility and customer focused approach
will continue to drive growth."
About Metro Brands Limited (BSE: 543426; NSE: METROBRAND)
www.metrobrands.com
Metro Brands is one of the largest Indian footwear specialty retailers and is amongst the
aspirational Indian brands in the footwear category. The Company opened its first store under
the Metro brand in Mumbai in 1955, and have since evolved into a one‐stop shop for all
footwear needs, by retailing a wide range of branded products for the entire family including
men, women, unisex and kids, and for every occasion including casual and formal events. In
addition to men’s, women’s, and kid's footwear, it also has a wide range of handbags, belts,
wallets, etc. Metro Brands retails footwear under its own brands of Metro, Mochi, Walkway,
Da Vinchi and J. Fontini, as well as certain third‐party brands such as Crocs, Fitflop, Fila,
Skechers, Clarks, Puma and Adidas which complement its in‐house brands. The Metro
footwear range is specially curated based on the regional sensitivity to cater to the needs of
different regions.
As of March 31, 2024, the Company operated 836 Stores across 193 cities spread across 31
states and union territories in India.
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