1. Opening Hook
Rainy season ruined your chappals? Don’t worry — Metro Brands turned monsoons into margin season.
Even as footwear sales got drenched, Rafique Malik’s empire quietly opened 38 new stores, including 4 giant Foot Lockers, proving that India’s sneaker dream isn’t a fad — it’s a full-blown retail marathon.
CEO Nissan Joseph sounded like a man juggling 8 shoe brands and still finding time to cut GST discounts.
The quarter had everything — FILA reboot, Clarks comeback, Walkway revival, and an e-commerce sprint at 39% growth.
Keep walking — things get juicy (and maybe a little slippery). 😏
2. At a Glance
- Revenue up 11% YoY (Consolidated) – Even Crocs didn’t squeak this much.
- EBITDA up 10% YoY – Profits growing faster than your shoe size.
- PAT slightly muted – Courtesy of Ind AS 116 and Foot Locker rent math.
- Gross Margin +40 bps YoY – Price cuts didn’t dent style or substance.
- E-commerce +39% YoY – 14% of sales now digital; D2C is the new DLF mall.
- 38 Net Store Additions – 42 openings, 4 closures; the Malik family just can’t stop shopping for real estate.
- Walkway’s biggest quarter ever (10 new stores) – Budget shoes walking tall.
3. Management’s Key Commentary
“We grew 12% standalone and 11% consolidated despite prolonged monsoon and delayed festive buying.”
(Translation: Even Mumbai floods couldn’t drown our top line.)
“Gross margins up 40 bps; EBITDA grew 10%.”
(The CFO’s version of saying, “Margins are waterproof.”)
“42 new stores, 4 closures — net 38 added.”
(If growth had feet, Metro just bought new soles.)
“4 new Foot Locker stores opened.”
(The sneakerheads screamed; the accountants sighed.)
“Walkway saw its highest ever
