Metro Brands (METROBRAND) Q3 25/26 earnings summary

Executive summary

• Achieved consolidated revenue of ₹811.27 crore for Q3 FY26, up 15.4% year-over-year, and ₹2,091 crore for 9M FY26, up 12.1% YoY, with strong festive and wedding season demand and GST rate reduction supporting growth.

• Opened over 100 new stores in 9M FY26, offset by closures, expanding to 990 stores across 212 cities and 31 states/UTs.

• E-commerce sales grew 35% YoY in 9M FY26, contributing 13.2% to total revenue, with digital commerce at 12% in Q3.

• Launched new formats including MetroActiv and Foot Locker, expanded Clarks partnership, and initiated local manufacturing for Fila to address BIS-related supply issues.

• Unaudited consolidated and standalone financial results for Q3 and 9M FY26 were reviewed and approved, with auditors issuing unmodified conclusions.

Financial highlights

• Q3 FY26 consolidated revenue: ₹811 crore (up 15.4% YoY); EBITDA: ₹265 crore (up 17.6% YoY); PAT: ₹130 crore (up 37.1% YoY); EBITDA margin: 32.7%.

• 9M FY26 consolidated revenue: ₹2,091 crore (up 12.1% YoY); EBITDA: ₹631 crore (up 12.4% YoY); PAT: ₹298 crore (up 15.1% YoY); EBITDA margin: 30.2%.

• Gross margin for 9M FY26 at 58.0% (consolidated); PAT margin improved to 14.3% for 9M FY26.

• Digital commerce contributed 12%-13.2% of revenue in Q3 and 9M FY26.

• Volume growth contributed 9%-12% of overall growth, with ASPs up 2%-3%.

Outlook and guidance

• Management expects consistent double-digit growth, with store expansion focused on profitability and market share.

• EBITDA margin guidance remains at 30%-33%, gross margin at 55%-58%, and PAT margin at 15% for the medium to long term.

• Continued investment in e-commerce, omni-channel, and sports/athleisure segments, with Clarks EBOs expected to launch in Q3 FY27.

• Interim dividend of ₹3.00 per equity share declared in January 2026.