Metro Brands Ltd - Stock Valuation and Financial Performance

BSE: 543426 | NSE: METROBRAND | Retailing | Mid Cap

Metro Brands Share Price

1,136.25 -6.05 -0.53%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Metro Brands

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Metro Brands stock performance -

mw4me loader
P/E Ratio (SA):
82.08
Market Cap:
31,060.8 Cr.
52-wk low:
765
52-wk high:
1,440.5

Is Metro Brands Ltd an attractive stock to invest in?

1. Is Metro Brands Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Metro Brands Ltd is a good quality company.

2. Is Metro Brands Ltd undervalued or overvalued?

The key valuation ratios of Metro Brands Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Metro Brands Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Metro Brands Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Metro Brands:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Metro Brands Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 29.6%26.1%22.9%20.8%26.2%24.2%25%12.9%23.7%29.7%-
Value Creation
Index
1.61.31.00.91.31.21.20.10.81.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6367027678681,0341,1551,2107891,3122,0522,218
Sales YoY Gr.-10.4%9.3%13.1%19.1%11.7%4.7%-34.8%66.4%56.3%-
Adj EPS 2.733.13.355.65.82.77.613.513.9
YoY Gr.-8.1%4.8%7.1%52%11.1%3.4%-53.8%185.4%77.7%-
BVPS (₹) 10.212.414.617.221.22529.430.345.55666.1
Adj Net
Profit
72.278.181.987.713314815370.9207368379
Cash Flow from Ops. 57.260.483.382.6157107272244218410-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 13.9%14.7%19.3%56.3%
Adj EPS 19.5%21.9%32.8%77.7%
BVPS20.8%21.5%24%23.2%
Share Price - - - 47.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
29.626.122.920.826.224.221.2920.326.622.8
Op. Profit
Mgn %
18.217.817.616.820.919.928.422.93133.232.3
Net Profit
Mgn %
11.411.110.710.112.912.812.7915.817.917.1
Debt to
Equity
0000000000-
Working Cap
Days
96106106116113123111161116112120
Cash Conv.
Cycle
3336364835302026202678

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 22.80%

Sales growth is growing at healthy rate in last 3 years 19.26%

Net Profit is growing at healthy rate in last 3 years 32.81%

Sales growth is good in last 4 quarters at 15.80%

No data to display

Latest Financials - Metro Brands Ltd.

Standalone Consolidated
TTM EPS (₹) 13.9 12
TTM Sales (₹ Cr.) 2,218 2,318
BVPS (₹.) 66.1 65.2
Reserves (₹ Cr.) 1,662 1,638
P/BV 17.28 17.51
PE 82.08 95.33
From the Market
52 Week Low / High (₹) 765.00 / 1440.45
All Time Low / High (₹) 426.10 / 1440.45
Market Cap (₹ Cr.) 31,061
Equity (₹ Cr.) 136
Face Value (₹) 5
Industry PE 105.9

Management X-Ray of Metro Brands:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

Login/Register to view analysis.

Analyst's Notes

Key Ratios of Metro Brands

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales6367027678681,0341,1551,2107891,3122,052
Operating Expenses 5225786347238199268696119091,371
Manufacturing Costs24283235394651384972
Material Costs308341371417458517529352550849
Employee Cost 385763758910211397116171
Other Costs 152151168196233262176124195280
Operating Profit 114124133144215229340178403680
Operating Profit Margin (%) 18.0%17.7%17.3%16.7%20.8%19.8%28.1%22.6%30.7%33.2%
Other Income 5751091825795855
Interest 00000039445062
Depreciation 111213161922120121134175
Exceptional Items 0000000000
Profit Before Tax 10812012513920522420791278498
Tax 364143476976551970125
Profit After Tax 7279829113514815273208373
PAT Margin (%) 11.3%11.3%10.7%10.5%13.1%12.8%12.6%9.2%15.8%18.2%
Adjusted EPS (₹)2.73.03.13.55.15.65.72.77.713.7
Dividend Payout Ratio (%)23%22%22%22%18%22%26%55%29%29%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 2703283884565616657808051,2351,522
Share Capital 1515151515133133133136136
Reserves 2563133734415465326476721,0991,386
Minority Interest0000000000
Debt0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Trade Payables71867899131179155203212264
Others Liabilities 361721523340561589787985
Total Liabilities 3774314876067268841,4951,5962,2332,770

Fixed Assets

Gross Block1001641842302593139031,0351,2731,587
Accumulated Depreciation334350607591199313426477
Net Fixed Assets671221341701832227057228471,109
CWIP 201464135618
Investments 79377796184208346397398570
Inventories184218223250260331320284419587
Trade Receivables12356108222124
Cash Equivalents 8762515121083394183
Others Assets3744455771989382148279
Total Assets 3774314876067268841,4951,5962,2332,770

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 57608383157107272244218410
PBT 10812012513920522420791278498
Adjustment 15712813713891133197
Changes in Working Capital -28-27-12-193-49-1682-121-144
Tax Paid -38-40-42-46-64-75-57-20-71-141
Cash Flow From Investing Activity -61-21-62-84-93-67-161-116-299-45
Capex -20-68-26-58-33-58-42-25-47-91
Net Investments -4343-38-4-85-14-124-3354-62
Others 341-222556-59-305108
Cash Flow From Financing Activity 0-40-220-53-44-112-116118-395
Net Proceeds from Shares 000000002923
Net Proceeds from Borrowing 0000000000
Interest Paid 0000000000
Dividend Paid 0-34-220-53-450-50-71-88
Others 0-60001-112-67-104-310
Net Cash Flow -3-1-1-110-4-11238-30
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)29.3826.5122.9221.6826.5824.1221.039.1520.3627.07
ROCE (%)44.2140.0834.9432.9240.2136.5934.0517.0832.140.41
Asset Turnover Ratio2.312.0821.671.571.441.190.60.80.96
PAT to CFO Conversion(x)0.790.761.010.911.160.721.793.341.051.1
Working Capital Days
Receivable Days1111232653
Inventory Days788787958993841208376
Payable Days7584817791110115185137102

Metro Brands Ltd Stock News

Metro Brands Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Metro Brands on 28-Mar-2024 16:01 is ₹1,136.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Metro Brands stood at ₹31,060.8.
The latest P/E ratio of Metro Brands as of 28-Mar-2024 16:01 is 82.08.
The latest P/B ratio of Metro Brands as of 28-Mar-2024 16:01 is 17.28.
The 52-week high of Metro Brands is ₹1,440.5 and the 52-week low is ₹765.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Metro Brands is ₹2,218 ( Cr.) .

About Metro Brands Ltd

Metro Brands is one of the largest Indian footwear speciality retailers, and is among the aspirational Indian brands in the footwear category. It opened its first store under the Metro brand in Mumbai in 1955, and has 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. The company retail footwear under its own brands of Metro, Mochi, Walkway, Da Vinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop, which complement its in-house brands. These brands have a pan-India appeal across regions. It also offers accessories such as belts, bags, socks, masks and wallets, at its stores. It also retail footcare and shoe-care products at its stores through its joint venture, M.V. Shoe Care, making it a ‘one-stop-shop’ for all footwear and related accessories to its customers.

The company endeavour to drive its sales through a strong focus on product assortment – a Theory-of-Constraints (TOC) method for its supply chain, offering greater availability and reducing stock-outs. This is coupled with an incentive-based remuneration system for its front-end and backend sales staff. The company operates on an asset light model with third-party manufacturing through long-standing vendor relationships, optimum store size and layout, and long-term lease arrangements. It introduces new designs frequently through its vendor engagements based on its combined understanding of prevailing trends and regional sensitivity. To efficiently manage inventory for its wide range of products, it follow a pull model for product availability at its stores where product placement is led by a demand driven inventory replenishment method. This helps it ensure optimum inventory management and accessibility to the latest products.

Business area of the company

The company is one of the largest Indian footwear speciality retailers, and is among the aspirational Indian brands in the footwear category.

Key awards, accreditations or recognitions

  • 2011: ‘Emerging Retailer of the Year’ award at the ET Retail Awards by The Economic Times.
  • 2012: ‘Retailer of the Year (Footwear Non Apparel)’ award at the Asian Retail Leadership Awards.
  • 2013: ‘Most Popular Youth Brand (footwear)’ award at the Global Youth Marketing Awards.
  • 2014: ‘Footwear Brand with Outstanding e-Retail Performance’ at the Indian e-Retail Awards by Franchise India.
  • 2015: ‘Most Admired Multi-Brand Footwear Retail Chain of the Year - Metro” at the India Shoes and Accessories Awards.
  • 2016: ‘Most Admired Multi-Brand Retail Chain of the Year - Mochi’ at the India Shoes and Accessories Awards.
  • 2017: ‘Footwear Retailer of the Year’ award at the 12th Annual Star Retailer Awards.
  • 2017: ‘Shining Star Commercial Partner of the Year 2017’ award received by our store at Indira Gandhi International Airport, New Delhi at the GMR Airport Awards 2017 by the GMR Group.
  • 2017: ‘Most Preferred Woman’s Brand’- 4th World Women Leadership Congress Awards by Femina.
  • 2018: ‘Retailer of the Year (Non-Apparel / Footwear)’ at the ET Global Awards for Retail Excellence by ET Now.
  • 2019: ‘Family Business of the Year - Emerging Companies’ award by The Economic Times.
  • 2021: ‘Best Footwear Brand 2021’ award at the India’s Retail Champions Awards, supported by the Retailers Association of India.

Major events and milestones

  • 1977: Incorporation of the Company.
  • 2000: The Company opened the first ‘Mochi’ branded MBO.
  • 2009: The Company launched the ‘Walkway’ format (previously ‘MSL - More Shoes for Less’).
  • 2010: The Company launched the e-commerce platform and it reached a target of 100 stores.
  • 2012: The Company reached a target of 200 stores.
  • 2015: The Company tied-up with the brand ‘CrocsTM’.
  • 2020: The Company reached a target of 550 stores.
  • 2021: The Company tied with the brand ‘Fitflop’.
Read More Read Less
You have 2 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.