Metro Brands FY26: Crossing 1,000 Stores With Stable Margins and a Cautious Sports Rollout

FY26 consolidated revenue from operations was INR 2,864 crore, EBITDA was INR 869 crore (30.3% margin), and PAT was INR 416 crore (14.5% margin).

Metro Brands reported 1,032 stores across 221 cities and 31 states and union territories as of March 2026.

E-commerce sales (including omnichannel) grew 39% in FY26 and contributed 12.9% of revenue. In Q4 FY26, it grew 53% and contributed 12.2% of revenue.

Clarks was launched online in Q3 (FY26). The company expects supply of the complete product range by Q2 FY27, and Clarks EBOs are expected to be launched in Q3 FY27 after supply chain and assortment stabilization.

Management cited BIS implementation challenges faced by select external brands, impacting supply chain readiness and leading to a cautious approach to Foot Locker store expansion.

FY26 PAT includes a one-time INR 3.39 crore expense due to increased actuarial provision on New Labour Code implementation and a one-time INR 7 crore gain from reversal of net lease liability following warehouse closure and new commissioning.

For Metro, Mochi and Walkway, own brands contributed 73% of total store product sales at MBOs in FY26, with third-party brands at 27%.