Buy Metro Brands; target of Rs 1315: Motilal Oswal

Buy

Motilal Oswal's research report on Metro Brands

Metro Brands (MBL) delivered robust 15% YoY revenue growth (vs. our est. ~12% YoY) in 3QFY26, driven by an improvement in in-store sales (+11% YoY vs. 4%/10% YoY in 1Q/2Q) on the back of acceleration in area additions (+11% YoY) and robust growth in e-commerce (+24% YoY). MBL continued its pace of store addition, with ~24 net store additions in 3Q, driven by a scale-up of the value format Walkway (+7 stores) and the launch of multi-brand sports performance format MetroActiv (+3 stores).

Outlook

We reiterate our BUY rating on MBL with a revised TP of INR1,315 (earlier INR1,400). Consistent double-digit growth and ramp-up of newer formats, such as FILA, Foot Locker, and Clarks, remain the key re-rating triggers for the stock.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Metro Brands_29012026_Motilal Oswal