has buy call on Metro Brands with a target price of Rs 1050. The current market price of Metro Brands Ltd. is Rs 868.55.
Metro Brands, incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 23705.49 Crore) operating in General sector.
Metro Brands key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 613.34 Crore, up 25.67 % from last quarter Total Income of Rs 488.07 Crore and up 23.71 % from last year same quarter Total Income of Rs 495.78 Crore. Company has reported net profit after tax of Rs 112.76 Crore in latest quarter.
The company’s top management includes Mr.Rafique A Malik, Ms.Farah Malik Bhanji, Mr.Mohammed Iqbal Hasanally Dossani, Mr.Utpal Hemendra Sheth, Mr.Manoj Kumar Maheshwari, Ms.Aruna Advani, Mr.Arvind Kumar Singhal, Mr.Vikas Khemani, Mr.Srikanth Velamakanni. Company has Deloitte Haskins & Sells as its auditors. As on 30-09-2022, the company has a total of 27 Crore shares outstanding.
Investment Rationale
Metro’s 3QFY23 performance was a positive surprise with highest ever store (48 stores) addition till date. This may drive consensus upgrades. Incremental focus towards distribution driven revenue growth under Fila and Proline brands (now consolidated in standalone financials effective 1st Dec’22) is a key growth vector, noted the brokerage.
Promoter/FII Holdings
Promoters held 74.25 per cent stake in the company as of 30-Sep-2022, while FIIs owned 3.24 per cent, DIIs 4.73 per cent.
Metro Brands, incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 23705.49 Crore) operating in General sector.
Metro Brands key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 613.34 Crore, up 25.67 % from last quarter Total Income of Rs 488.07 Crore and up 23.71 % from last year same quarter Total Income of Rs 495.78 Crore. Company has reported net profit after tax of Rs 112.76 Crore in latest quarter.
The company’s top management includes Mr.Rafique A Malik, Ms.Farah Malik Bhanji, Mr.Mohammed Iqbal Hasanally Dossani, Mr.Utpal Hemendra Sheth, Mr.Manoj Kumar Maheshwari, Ms.Aruna Advani, Mr.Arvind Kumar Singhal, Mr.Vikas Khemani, Mr.Srikanth Velamakanni. Company has Deloitte Haskins & Sells as its auditors. As on 30-09-2022, the company has a total of 27 Crore shares outstanding.
Investment Rationale
Metro’s 3QFY23 performance was a positive surprise with highest ever store (48 stores) addition till date. This may drive consensus upgrades. Incremental focus towards distribution driven revenue growth under Fila and Proline brands (now consolidated in standalone financials effective 1st Dec’22) is a key growth vector, noted the brokerage.
Promoter/FII Holdings
Promoters held 74.25 per cent stake in the company as of 30-Sep-2022, while FIIs owned 3.24 per cent, DIIs 4.73 per cent.
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