Conference Call with Metro Brands Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Footwear company Metro Brands announced Q11FY24 results: Standalone revenue of Rs 556 crore, representing a growth of 11.7% over Q1FY23 with a strong 19.1% PAT margin, and a stable 35% EBITDA margin. The e-commerce segment registered its highest-ever quarterly sales with 63% growth over Q1FY23 and a CAGR of 71% over the last 4 years. The company achieved an impressive increase in standalone EBITDA, reaching Rs 194 crore. In the context of demand experienced last year, Q1FY24 witnessed going against pent-up demand post-Covid and a higher number of wedding days in Q1FY23. The company has opened 27 new stores, expanding its presence to 182 cities (8 new cities covered in Q1FY24). It remains dedicated to continuous growth, seeking opportunities to create value for both customers and shareholders. Commenting on the performance of the company, Nissan Joseph, CEO, Metro Brands, said, "I am pleased with our results as we finally entered a normalized quarter for the retail business. We experienced remarkable growth, surpassing pre-pandemic performance by 82%. Embracing the digital landscape allowed us to expand our reach and explore new markets with new brick-and-mortar stores and e-commerce channels. We remain confident in our strategic positioning of focusing on the premium consumer to drive growth.” Result PDF
Conference Call with Metro Brands Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Footwear company Metro Brands announced Q4FY23 & FY23 results; In FY23, Metro Brands recorded a Standalone revenue of Rs 2,052 crore, with a strong PAT margin of 18.2%, an increase of 570 basis points compared to the average precovid PAT margin in FY20 of ~12.5% The growth rate of 80% PAT year-on-year (YoY) underscores Metro Brands' growth trajectory The company achieved its highest ever gross margin of 58.6% in FY23. In addition to this accomplishment, the company attained its highest Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) margin which stood at 33.2% for FY23. In Q4FY23, the company demonstrated strong performance with 30% quarter-on-quarter (QoQ) revenue growth, a steady PAT margin of 15.9%, and an EBIDTA margin of 29.7%. Commenting on the performance of the company Nissan Joseph, CEO, Metro Brands, said, “In FY23, we achieved a recordbreaking milestone by opening 115 stores, further solidifying our presence in the market. We surpassed the benchmark of Rs 2,000 crore in revenue, while simultaneously enhancing our overall profitability metrics in this fiscal year. The discerning affinity exhibited by consumers towards our premium products has been highly gratifying, resulting in a steady growth in the average selling price (ASP). As we progress, we are observing moderation in nearterm sales growth, as we transition from the initial surge due to pentup demand observed between October 2021 and June 2022.” Result PDF