15-18% CAGR over long term across all formats
Management expects each format (Metro, Mochi, Crocs, Walkway, Fila) to deliver 15%+ growth over a long-term horizon, with Metro at only 350 stores having significant runway.
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Metro Brands · forward-looking guidance across the available source record.
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What management said would happen.
growth
30%+ EBITDA margin target maintained
Long-standing EBITDA margin guidance of 30%+ remains intact despite near-term pressure from marketing investments. PAT margins guided at mid-teens (16%).
Fila breakeven by next year
Fila losses were ₹58 crore in FY24, reduced ~40% in FY25, and will decline further in FY26 with breakeven expected in FY27.
Fila EBO stores in H2 FY26
Exclusive brand outlets for Fila planned for second half of FY26 after testing products in Metro stores and building India-based supply chain.
Medium-term revenue growth target of mid-teens (~15%)
Growth bridge comprises mid-high single-digit like-for-like growth, 10% new store contribution at 5% revenue uplift, and full-year annualization benefit from prior year openings. Management sees no reason for deviation from this range.
EBITDA margin guidance of 33% maintained
Management reiterated 33% EBITDA margin as a realistic target, emphasizing that maintaining this level requires ongoing effort despite operating leverage opportunities. The 33% figure represents a 'real good range' per CEO.
PAT margin guidance of 15-16% maintained
Consolidated PAT margin guidance of 15-16% retained for medium to long term. Management noted this has been consistently delivered against guidance.
Gross margin range of 55-58%
Overall gross margin guidance maintained at 55-58% range. Fila format expected to match or exceed this range upon stabilization. New third-party brand formats (Foot Locker, Metroactive) will create drag due to lower inherent margins (~90% third-party brands) but remain immaterial at current scale.