Metro Brands Ltd, originally established as Metro Shoes in 1955 by Malik Tejani, is a leading multi-brand footwear retail company in India. Starting as a single store near Mumbai’s Metro Cinema, the company has expanded into a vast retail network with 598 showrooms across 136 cities. Known for offering a wide range of footwear and fashion accessories, Metro Brands operates under various labels such as Metro Shoes, Mochi Shoes, Walkway, FitFlop, and Da Vinchi. The company also partners with international brands like Crocs to provide exclusive products in the Indian market. In December 2021, Metro Brands raised ₹1,367.5 crore (approximately $160 million) through its IPO and continues to pursue an aggressive expansion strategy, aiming to add 200 more stores in the coming years while maintaining its reputation for quality and style.
Shareholding Patterns of Metro Brands Ltd
| 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. from June 2023 to June 2024 shows slight variations across different shareholder groups. The promoters consistently maintained a strong majority, beginning at 74.20% in June 2023 and slightly decreasing to 74.16% by March 2024, where it remained stable through June 2024. Foreign Institutional Investors (FIIs) saw an increase in their stake, moving from 2.61% in June 2023 to 3.05% by June 2024. On the other hand, Domestic Institutional Investors (DIIs) experienced minor fluctuations, starting at 5.72% in June 2023, reaching a high of 6.10% in September 2023, and eventually settling at 5.59% by June 2024. The public shareholding remained relatively constant, with a slight change from 17.45% in June 2023 to 17.19% in June 2024. The number of shareholders varied, beginning at 63,451 in June 2023 and increasing to 64,470 by June 2024, reflecting a growing investor base.
Recent News on Metro Brands
Recently, five promoters of Metro Brands Ltd sold a 2.19% stake, amounting to ₹749 crore, with the shares acquired by Kotak Mahindra Mutual Fund and Citigroup Global Markets Mauritius. This transaction reduced the promoters’ overall holding in the company to 71%. Additionally, Metro Brands is scheduled to conduct its 47th Annual General Meeting (AGM) on September 19, 2024. The AGM will be held via video conferencing and other digital means, allowing stakeholders to participate remotely.
How to Purchase Metro Brands Shares in India?
Below are the trading platforms that you can use to purchase Metro Brands shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
Metro Brands Share Price Prediction 2024 - 2030
Metro Brands Share Price Target 2024
| When | Maximum Price | Minimum Price |
| September 2024 | 1,253.05 | 1,089.61 |
| October 2024 | 1,240.65 | 1,078.82 |
| November 2024 | 1,290.27 | 1,121.98 |
| December 2024 | 1,303.18 | 1,133.20 |
In September 2024, the Metro Brands stock price is projected to reach a maximum of ₹1,253.05 and a minimum of ₹1,089.61. Moving forward, October 2024 is expected to see the stock fluctuate between a maximum of ₹1,240.65 and a minimum of ₹1,078.82.
As we approach November 2024, the Metro Brands stock price is anticipated to climb to a maximum of ₹1,290.27 and settle at a minimum of ₹1,121.98. Finally, by December 2024, the stock is projected to achieve a maximum of ₹1,303.18, with a minimum of ₹1,133.20.
Metro Brands Share Price Target 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 1,316.21 | 1,012.47 |
| February 2025 | 1,329.50 | 1,022.69 |
| March 2025 | 1,357.42 | 1,044.17 |
| April 2025 | 1,343.98 | 1,033.83 |
| May 2025 | 1,304.84 | 1,003.72 |
| June 2025 | 1,363.56 | 1,048.89 |
| July 2025 | 1,336.82 | 1,028.32 |
| August 2025 | 1,378.16 | 1,060.13 |
| September 2025 | 1,394.70 | 1,072.85 |
| October 2025 | 1,430.96 | 1,100.74 |
| November 2025 | 1,466.74 | 1,128.26 |
| December 2025 | 1,532.74 | 1,179.03 |
As we move into 2025, the Metro Brands stock price is expected to fluctuate throughout the year. In January, the stock may reach a maximum of ₹1,316.21 and a minimum of ₹1,012.47, with steady growth projected as the year progresses. By June, the price could vary between ₹1,363.56 and ₹1,048.89, and in September, it may rise to a maximum of ₹1,394.70 and a minimum of ₹1,072.85. As we approach December 2025, the stock is anticipated to peak at ₹1,532.74, with a minimum of ₹1,179.03.
Metro Brands Share Price Target 2026
| When | Maximum Price | Minimum Price |
| January 2026 | 1,578.72 | 1,214.40 |
| February 2026 | 1,539.26 | 1,184.04 |
| March 2026 | 1,570.04 | 1,207.72 |
| April 2026 | 1,602.08 | 1,232.37 |
| May 2026 | 1,586.22 | 1,220.17 |
| June 2026 | 1,625.88 | 1,250.67 |
| July 2026 | 1,594.00 | 1,226.15 |
| August 2026 | 1,643.29 | 1,264.07 |
| September 2026 | 1,676.16 | 1,289.35 |
| October 2026 | 1,719.74 | 1,322.88 |
| November 2026 | 1,762.73 | 1,355.95 |
| December 2026 | 1,806.80 | 1,389.85 |
Metro Brands Share Price Target 2027
| When | Maximum Price | Minimum Price |
| January 2027 | 1,824.87 | 1,403.75 |
| February 2027 | 1,871.66 | 1,439.74 |
| March 2027 | 1,944.66 | 1,495.89 |
| April 2027 | 1,906.53 | 1,466.56 |
| May 2027 | 1,851.00 | 1,423.84 |
| June 2027 | 1,934.29 | 1,487.92 |
| July 2027 | 1,896.36 | 1,458.74 |
| August 2027 | 1,955.01 | 1,503.86 |
| September 2027 | 2,023.44 | 1,556.49 |
| October 2027 | 2,076.05 | 1,596.96 |
| November 2027 | 2,127.95 | 1,636.88 |
| December 2027 | 2,181.15 | 1,677.81 |
Metro Brands Share Price Target 2028
| When | Maximum Price | Minimum Price |
| January 2028 | 2,224.77 | 1,711.36 |
| February 2028 | 2,281.82 | 1,755.24 |
| March 2028 | 2,370.81 | 1,823.70 |
| April 2028 | 2,324.32 | 1,787.94 |
| May 2028 | 2,256.62 | 1,735.86 |
| June 2028 | 2,358.17 | 1,813.98 |
| July 2028 | 2,311.93 | 1,778.41 |
| August 2028 | 2,383.44 | 1,833.41 |
| September 2028 | 2,466.86 | 1,897.58 |
| October 2028 | 2,530.99 | 1,946.92 |
| November 2028 | 2,594.27 | 1,995.59 |
| December 2028 | 2,659.13 | 2,045.48 |
Metro Brands Share Price Target 2029
| When | Maximum Price | Minimum Price |
| January 2029 | 2,712.31 | 2,086.39 |
| February 2029 | 2,781.85 | 2,139.89 |
| March 2029 | 2,890.35 | 2,223.34 |
| April 2029 | 2,833.67 | 2,179.75 |
| May 2029 | 2,751.14 | 2,116.26 |
| June 2029 | 2,874.94 | 2,211.49 |
| July 2029 | 2,818.57 | 2,168.13 |
| August 2029 | 2,905.74 | 2,235.19 |
| September 2029 | 3,007.44 | 2,313.42 |
| October 2029 | 3,085.64 | 2,373.57 |
| November 2029 | 3,162.78 | 2,432.91 |
| December 2029 | 3,241.85 | 2,493.73 |
Metro Brands Share Price Target 2030
| When | Maximum Price | Minimum Price |
| January 2030 | 3,306.68 | 2,543.60 |
| February 2030 | 3,391.47 | 2,608.82 |
| March 2030 | 3,523.74 | 2,710.57 |
| April 2030 | 3,454.64 | 2,657.42 |
| May 2030 | 3,354.02 | 2,580.02 |
| June 2030 | 3,504.96 | 2,696.12 |
| July 2030 | 3,436.23 | 2,643.25 |
| August 2030 | 3,542.51 | 2,725.00 |
| September 2030 | 3,666.49 | 2,820.38 |
| October 2030 | 3,761.82 | 2,893.71 |
| November 2030 | 3,855.87 | 2,966.05 |
| December 2030 | 3,952.26 | 3,040.20 |
In 2030, the Metro Brands stock price is anticipated to show significant growth. In January, it is expected to reach a maximum of ₹3,306.68 and a minimum of ₹2,543.60. As the months progress, we foresee fluctuations, with August seeing a potential maximum of ₹3,542.51 and a minimum of ₹2,725.00. By September, the stock may peak at ₹3,666.49 with a minimum of ₹2,820.38, and as we step into December 2030, the price could rise further to a maximum of ₹3,952.26 and a minimum of ₹3,040.20.
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% |
Over the last five years, Metro Brands Ltd has shown significant growth and resilience across its financial metrics:
- Sales: The company’s sales increased steadily, rising from ₹1,285 crore in March 2020 to ₹2,357 crore in March 2024. The only dip was during the pandemic year (March 2021), where sales fell to ₹800 crore but recovered swiftly thereafter, reflecting strong market demand and operational resilience.
- Expenses: Expenses followed a similar upward trajectory, increasing from ₹930 crore in March 2020 to ₹1,653 crore by March 2024. While expenses grew, they remained well-managed relative to the rise in sales, allowing for steady profit growth.
- Operating Profit: Operating profit saw a consistent increase, moving from ₹355 crore in March 2020 to ₹704 crore in March 2024. The Operating Profit Margin (OPM) remained robust, improving from 28% in March 2020 to around 30% in March 2024, indicating strong cost control and efficiency.
- Other Income: Other income fluctuated, peaking at ₹76 crore in March 2021, largely aiding profitability during that year, before stabilizing at ₹66 crore in March 2024.
- Interest and Depreciation: Both interest and depreciation expenses rose steadily, with interest increasing from ₹40 crore in March 2020 to ₹79 crore in March 2024, and depreciation climbing from ₹121 crore to ₹229 crore over the same period, signaling ongoing capital investments and borrowings.
- Profit Before Tax: Profit before tax saw a strong recovery post-2021, surging from ₹85 crore in March 2021 to ₹489 crore in March 2023. However, it slightly dipped to ₹462 crore in March 2024, likely due to increased costs associated with expansion.
- Tax and Net Profit: The effective tax rate varied, but the tax burden decreased to 11% in 2024, boosting net profits. Net profit rose consistently from ₹161 crore in March 2020 to ₹415 crore in March 2024, reflecting solid bottom-line growth.
- Earnings Per Share (EPS): EPS improved significantly, from ₹11.8 in March 2020 to ₹15.17 in March 2024, marking strong shareholder value creation.
- Dividend Payout: The company has maintained a prudent dividend policy, with the payout ratio ranging from 25% to 33%, balancing rewards to shareholders with the need for reinvestment.
FAQs
What is Metro Brands’s current market cap?
Presently, Metro Brands Ltd commands a market capitalization of ₹33,523 Crores.
What is the current share price of Metro Brands Ltd?
As of September 19th, 2024, Metro Brands’s shares are priced at ₹1,233.
What is the share price target for Metro Brands in 2025?
The anticipated share price for Metro Brands in December 2025 ranges between ₹1,179.03 and ₹1,532.74.
What is the share price target for Metro Brands Ltd in 2030?
By December 2030, Metro Brands is projected to reach a share price range of ₹3,040.20 to ₹3,952.26.
What is Metro Brands’s current P/E ratio?
Metro Brands Ltd currently maintains a P/E ratio of 81.5.
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Conclusion
In conclusion, Metro Brands Ltd has demonstrated consistent growth and resilience in both its financial performance and stock market presence. The company’s expansion from a single store to a vast retail network across India underscores its leadership in the multi-brand footwear retail sector. Its financials over the last five years reveal a steady increase in sales, operating profit, and a robust operating profit margin (OPM). Furthermore, the company’s shareholding patterns reflect a strong promoter presence, growing FII participation, and a stable investor base. The share price projections for 2024 to 2030 show promising growth, with the stock expected to steadily rise over the years, making it an attractive option for investors.
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