Metro Brands LimitedRevenue +12%, PAT margin flat, festive shift to Q3

Metro Brands' Q2 FY27 call, held on 16 October 2026, reported consolidated revenue of ₹730 crore, up 12.2%, EBITDA of ₹198 crore at a 27.1% margin and profit after tax of ₹77 crore at an unchanged 10.6% margin.

Management said festive demand shifted from September into October, costing 250 to 350 basis points of growth and taking underlying growth back to about 15%. H1 gross margin rose to 58.4%, but wage revisions, talent and brand spend, new-format occupancy and lower treasury income absorbed the gain. The store network reached 1,053 after 34 openings and 13 closures in H1, with openings tightened and H2 expected to be higher.

BIS rules still limit Foot Locker and FILA supply, FILA store growth waits until FY28, and Clarks exclusive stores are planned for H2. Inventory of about ₹1,000 crore should normalise from March, and the 13% to 15% PAT margin is a medium to long-term aim. No like-for-like growth figure was given.