METRO BRANDS Results Analysis-Q3FY26

Operating Revenue for Q3FY26 is Rs. 811 Crs., 15.39% growth YoY, Total Income is Rs. 827 Crs., 13.92% growth YoY, EBITDA is Rs. 265 Crs., 17.73% growth YoY, EBITDA Margin is 32.66% Improved by 65 Basis points YoY, PBT Rs. 173 Crs, 7.97% growth YoY (which includes 3.46 Cr. one-time impact of New Labour Code), PAT Rs. 130 Crs, 37.12% growth YoY (due to increase in deferred tax in Q3FY25). On QoQ basis Op. Revenue is up by 24.59%, Total Income is up by 21.80%, EBITDA is up by 55.18%, PBT is up by 89.54% (which includes 3.46 Cr. one-time impact of New Labour Code) and PAT is also up by 89%. Q3 FY26 growth was led by festive and wedding season demand, supported by reduction in GST rates for footwear below Rs 2500. Ecommerce sales (including omni-channel) grew by 24%, contributing to 12% of the revenue. GST benefits are passed to customers, affecting select parts of the portfolio. Management pointed to three consecutive quarters of double-digit growth During the quarter, 35 new stores were opened. This was offset by 11 stores closures for the quarter.