Sunday 19 May, 2024 06:58 PM
Site map | Locate Us | Login
   Kirloskar Ferrous Q4 PAT drops 81% YoY to Rs 18 cr    ZEEL reports turnaround Q4 numbers    NHPC Q4 PAT slides 18% to Rs 610 cr    Nestle India ends higher after public shareholders reject royalty hike proposal to Swiss parent    Sobha Q4 PAT drops 85% YoY to Rs 7 cr    Kirloskar Ferrous Industries Ltd leads losers in 'A' group    Vindhya Telelinks Ltd leads losers in 'B' group    Volumes soar at MTAR Technologies Ltd counter    Godrej Inds slides on reporting net loss of Rs 312 cr in Q4    Granules India Ltd gains for third consecutive session    Glenmark Pharmaceuticals Ltd up for third straight session    Aurobindo Pharma Ltd spurts 3.21%    National Aluminium Company Ltd gains for third straight session    Zee Entertainment Enterprises Ltd spurts 4.37%    Ashok Leyland Ltd up for third consecutive session 
Saravan Stocks
       
Company News
Metro Br&s Ltd
CARE reaffirms credit ratings of Metro Brands with 'stable' outlook
Apr 06,2024   Hrs IST

The credit rating agency has also reaffirmed the company’s short-term rating at ‘CARE A1+’.

CARE Ratings said that the ratings assigned to Metro Brands’ (MBL) bank facilities are driven by the extensive experience of its promoters and the company's longstanding presence in the footwear industry.

MBL continues to benefit from its 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 overall gearing.

The company's operating performance notably improved in FY23 and 9MFY24, driven by heightened demand across all segments. MBL's Total Operating Income (TOI) surged by 58.44% year-on-year, primarily propelled by aggressive store expansion initiatives, resulting in substantial sales growth.

Leveraging omni-channel strategies via Exclusive Brand Outlets (EBOs), Multi-Brand Outlets (MBOs), and e-commerce platforms, MBL operates efficiently with an asset-light structure, fostering sustained profitability. MBL expanded its brand portfolio through the acquisition of Cravatex Brands Limited in FY23, incorporating renowned brands like ‘Fila,’ and ‘Proline,’ which are expected to contribute to incremental growth in the future.

The company has partnered with Footlocker, an American retailer, to access premium brands globally in the sports and athleisure space.

Despite these strengths, MBL faces challenges stemming from the fiercely competitive and fragmented industry landscape, dominated by unorganized players, alongside aggressive expansion by emerging brands and reliance on unorganized vendors/third parties for manufacturing.

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

Metro Brands operates as a footwear and accessories retailer in India, boasting a nationwide presence with 840 stores across 174 cities in 31 states and union territories as of December 31, 2023. MBL offers a diverse range of footwear and accessories, including formal and casual shoes, sandals, slippers, boots, sneakers, and ethnic footwear, alongside accessories like belts, wallets, socks, and shoe care products.

The scrip had declined 0.52% to end at Rs 1075.45 on the BSE yesterday.

   Attention Investors : Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day........issued in the interest of investors.
   Attention Investors : Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers / Depository Participant. Receive information of your transactions directly from Exchange / Depositories on your mobile / email at the end of the day .... Issued in the interest of Investors.
   Attention Investors : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
   Attention Investors : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Email ID: info@ssplwealth.com       Customers grievances : grievances@ssplwealth.com     Compliance officer : Mr.R Udayakumar , compliance@ssplwealth.com,  Mobile No: 7305522205
Hit Count : 32699417
SEBI Regn.Nos : NSE/BSE-INZ000192638 | CDSL : IN-DP-262-2016
Member IDs : NSE : 11221 | BSE : 6292 | CDSL : 12045000 | MCX : 56990 | AMFI Regn.No : 2662
Designed , Developed & Content provided by CMOTS INFOTECH.(ISO 9001:2015 certified) © Copyright 2011 All Rights Reserved. SSPL WEALTH Pvt. Ltd