Metro Brands 49th AGM Transcript FY26 Performance

Consolidated revenue from operations for FY 2025-26 grew by 14.2% to ₹2,864 crores
Quarterly revenue growth progression: Q1: 9%, Q2: 11%, Q3: 15%, Q4: 20%
EBITDA increased by 14.5% to ₹869 crores
Profit after tax rose by 17.3% to ₹416 crores
EBITDA margin remained healthy at 30.3%
E-commerce revenue grew by 39% during the year, contributing 12.9% of overall revenue

Crossed milestone of 1,000 stores in FY 2025-26
Opened 147 stores and closed 23 stores, resulting in 124 net additions
Year-end network reached 1,032 stores (increased to 1,041 stores as of June 2026)
Footwear volume growth was 9% in FY26
Average price increase in footwear portfolio was approximately 3% year-on-year

Investments in distribution infrastructure, supply chain capacity, talent, marketing, and customer engagement
Technology investments focusing on data and AI capabilities for inventory, store expansion, and customer engagement
Sustainability investments including footwear recycling program achieving full recycling coverage against footwear sold
Brand partnerships extended across comfort footwear, sneaker culture, sports performance, and athleisure (MetroActiv, Foot Locker, FILA, New Era, Clarks)

Majority of mature stores are profitable
Store closures historically limited to 2-3% of total network
ROCE remains relatively stable
Payback period continues to be two years
Expansion focused on metros, Tier 1 and Tier 2 cities, and emerging markets
Disciplined approach to store expansion with evaluation of financial viability for each new store

Early monsoon affected consumer movement in key markets at year beginning
Footfalls improved supported by stronger festive and wedding season demand
Positive impact of GST reductions on consumer sentiment
Organization building capabilities to manage larger network and broader portfolio
Aim to build scalable, data-led, and digitally enabled organization

Expansion plans include continued presence in Haryana state
Competitive intensity remains high across most segments and price points
For FY27, pricing actions will be taken judiciously considering customer demand, competitive intensity, and cost movements
Final store addition number for FY27 guided by location availability, brand potential, and expected returns
Confidence about long-term growth opportunity in Indian market

Remote e-voting conducted between September 13, 2026 (9:00 AM) and September 15, 2026 (5:00 PM)
Cut-off date for voting: September 9, 2026
M/s. Mehta & Mehta, Practicing Company Secretaries appointed as scrutinizer
Results to be announced within two working days from meeting conclusion
Meeting concluded at 4:24 PM after 30-minute e-voting window