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Care Edge Ratings reaffirmed ratings of Metro Brands at 'AA/A1+' with 'stable' outlook

03-Apr-26 17:18 Hrs IST

The agency has also affirmed the company's short-term rating at 'CARE A1+'.

Care Edge Ratings stated that the reaffirmation of ratings assigned to Metro Brands Limited's (MBL or the Company) bank facilities is driven by the extensive experience of promoters and long-standing presence in the footwear industry.

MBL benefits from a well-established market position and a broad distribution network across India, contributing to consistent operational performance and a robust financial risk profile marked by ample liquidity and low gearing.

However, MBL faces challenges in the competitive and fragmented industry landscape dominated by unorganised players, and aggressive expansion by emerging brands and reliance on unorganised vendors or third parties for manufacturing.

The company's ability to adapt to evolving industry dynamics, scale up operations, maintain healthy margins, and uphold a resilient financial risk profile will be crucial determinants of ratings.

Metro Brands is one of India's largest specialty footwear retailers, operating in premium and economy categories. As on 31 December 2025, MBL has a nationwide presence with 990 stores across 212 cities in 31 states and union territories, complemented by a rapidly growing online presence.

The company had reported 35.71% rise in consolidated net profit to Rs 128.35 crore on a 15.39% to Rs 811.27 crore in Q3 FY26 over Q3 FY25.

The scrip had risen 2.26% to end at Rs 938.60 on the BSE yesterday.

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