Metro Brands Ltd Share Price – NSE  /  BSE

Leather, Small Cap

The credit rating agency has also reaffirmed the company’s short-term rating at ‘CARE A1+’.

CARE Ratings said that the ratings assigned to Metro Brands’ (MBL) bank facilities are driven by the extensive experience of its promoters and the company's longstanding presence in the footwear industry.

MBL continues to benefit from its well-established market position and a broad distribution network across India, contributing to consistent operational performance and a robust financial risk profile marked by ample liquidity and low overall gearing.

The company's operating performance notably improved in FY23 and 9MFY24, driven by heightened demand across all segments. MBL's Total Operating Income (TOI) surged by 58.44% year-on-year, primarily propelled by aggressive store expansion initiatives, resulting in substantial sales growth.

Leveraging omni-channel strategies via Exclusive Brand Outlets (EBOs), Multi-Brand Outlets (MBOs), and e-commerce platforms, MBL operates efficiently with an asset-light structure, fostering sustained profitability. MBL expanded its brand portfolio through the acquisition of Cravatex Brands Limited in FY23, incorporating renowned brands like ‘Fila,’ and ‘Proline,’ which are expected to contribute to incremental growth in the future.

The company has partnered with Footlocker, an American retailer, to access premium brands globally in the sports and athleisure space.

Despite these strengths, MBL faces challenges stemming from the fiercely competitive and fragmented industry landscape, dominated by unorganized players, alongside aggressive expansion by emerging brands and reliance on unorganized vendors/third parties for manufacturing.

The company's ability to adapt to evolving industry dynamics, effectively scale up operations, uphold healthy margins, and maintain a resilient financial risk profile will be crucial determinants influencing its ratings.

Metro Brands operates as a footwear and accessories retailer in India, boasting a nationwide presence with 840 stores across 174 cities in 31 states and union territories as of December 31, 2023. MBL offers a diverse range of footwear and accessories, including formal and casual shoes, sandals, slippers, boots, sneakers, and ethnic footwear, alongside accessories like belts, wallets, socks, and shoe care products.

The scrip had declined 0.52% to end at Rs 1075.45 on the BSE yesterday.

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Metro Brands has received reaffirmation in credit ratings for bank facilities at CARE AA; Stable / CARE A1+.

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Eicher Motors Ltd, Sapphire Foods India Ltd, Praj Industries Ltd, Procter & Gamble Health Ltd are among the other stocks to see a surge in volumes on NSE today, 20 March 2024.

Metro Brands Ltd notched up volume of 30.4 lakh shares by 14:14 IST on NSE, a 9.12 fold spurt over two-week average daily volume of 3.33 lakh shares. The stock rose 9.80% to Rs.1,133.40. Volumes stood at 84848 shares in the last session.

Eicher Motors Ltd recorded volume of 27.13 lakh shares by 14:14 IST on NSE, a 4.97 times surge over two-week average daily volume of 5.46 lakh shares. The stock gained 4.35% to Rs.3,878.60. Volumes stood at 5.59 lakh shares in the last session.

Sapphire Foods India Ltd registered volume of 11 lakh shares by 14:14 IST on NSE, a 4.02 fold spurt over two-week average daily volume of 2.74 lakh shares. The stock rose 2.29% to Rs.1,553.65. Volumes stood at 3.98 lakh shares in the last session.

Praj Industries Ltd registered volume of 29.46 lakh shares by 14:14 IST on NSE, a 3.7 fold spurt over two-week average daily volume of 7.97 lakh shares. The stock rose 6.66% to Rs.505.25. Volumes stood at 3.99 lakh shares in the last session.

Procter & Gamble Health Ltd recorded volume of 55916 shares by 14:14 IST on NSE, a 3.57 times surge over two-week average daily volume of 15650 shares. The stock lost 1.04% to Rs.4,820.00. Volumes stood at 68743 shares in the last session.

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L T Foods Ltd, Time Technoplast Ltd, Chalet Hotels Ltd and Eicher Motors Ltd are among the other gainers in the BSE's 'A' group today, 20 March 2024.

Metro Brands Ltd spiked 9.08% to Rs 1125.35 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 25450 shares were traded on the counter so far as against the average daily volumes of 7014 shares in the past one month.

L T Foods Ltd soared 7.68% to Rs 174.6. The stock was the second biggest gainer in 'A' group. On the BSE, 2.74 lakh shares were traded on the counter so far as against the average daily volumes of 2.72 lakh shares in the past one month.

Time Technoplast Ltd surged 6.45% to Rs 206.15. The stock was the third biggest gainer in 'A' group. On the BSE, 60202 shares were traded on the counter so far as against the average daily volumes of 1.74 lakh shares in the past one month.

Chalet Hotels Ltd added 6.28% to Rs 788.65. The stock was the fourth biggest gainer in 'A' group. On the BSE, 22698 shares were traded on the counter so far as against the average daily volumes of 17410 shares in the past one month.

Eicher Motors Ltd jumped 4.50% to Rs 3885.5. The stock was the fifth biggest gainer in 'A' group. On the BSE, 62799 shares were traded on the counter so far as against the average daily volumes of 16491 shares in the past one month.

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