Interim report
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Date: October 15, 2026 To, The Manager Listing Department BSE Limited, Phiroze JeeJeeBhoy Towers, Dalal Street, Mumbai – 400001 (E) Maharashtra, India Scrip code: 543426 To, The Manager Listing Department National Stock Exchange of India Ltd, Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Symbol: METROBRAND Subject: Outcome of Board Meeting held on Thursday, October 15, 2026 Dear Sir/Madam, Pursuant to the provisions of Regulations 30, 33 and 42 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“Listing Regulations”), we would like to inform you that the Board of Directors of the Company, at their Meeting held today i.e., Thursday, October 15, 2026, which commenced at 1:47 P.M. and concluded at 5:09 P.M. has inter alia , considered, and approved the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026, along with Limited Review Report issued thereon by the Statutory Auditors of the Company (Annexure I). The Financial Results will be published in the newspapers in terms of Regulation 47(1)(b) of Listing Regulations in due course. The Financial Results are being uploaded to the websites of BSE Limited and the National Stock Exchange of India Limited and to the Company’s website at www.metrobrands.com. We request you to take the above information on record. Thanking you, Yours faithfully, For and on behalf of Metro Brands Limited, Deepa Sood Chief Legal Officer, Company Secretary & Compliance Officer ICSI Membership No: 16019 111et ro BRANDS METRO BRANDS LIMITED Registered Office: 401, Zillion, 4th Floor, LBS Marg & CST Road Junction, Kurla (W), Mumbai -400070. Tel: +91 22 6656 0444 Email: info@metrobrands.com Website: www.metrobrands.com CIN: L19200MH1977PLC019449 ISO 9001: 2015 Company
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Annexure 1 S R B C& CO LLP Chartered Accountants 12th Floor, The Ruby 29 Senapati Bapat Marg Dada r (West) Mumbai - 400 028 , India Tel : +91 22 6819 8000 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Metro Brands Limited L We have reviewed the accompanying statement of unaudited standalone financial results of Metro Brands Limited (the "Company") for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30 , 2026 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors . Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of mater ial misstatement . A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information requ ired to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For 5 R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 ~ per Flroz Pradhan Partner Membership No.: 109360 UDIN: 26109360IBFXRM6588 Place: Mumbai Date:OctoberlS , 2026 S R BC & CO LLP, a Limited Liability Partnership with LLP Identi ty No, AAB-43 18 Regd. Office : 22. Camac Street, Block 'B', 3rd Floor, Kolkata-700 016
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Sr.No. I II Ill IV V VI VII VIII IX METRO BRANDS LIMITED CIN No. : L19200MH19nPLC019449 Registered office : 401, Zillion, 4th Floor, LBS Marg & CST Road Junction, Kurla (West), Mumbai - 400 070 Statement of Unaudited Standalone financial results for the quarter and six months ended September 30, 2026 Particulars Income (a) Revenue from operations (b) Other Income Total Income Expenses (a) Purchases of stock-in-trade (b) Changes in inventories of stock in trade (c) Employee benefits expense (d) Finance costs (e) Depreciation and amortization expenses (f) Other expenses Total Expenses Profit before tax for the period/year (1-11) Tax expense (a) Current tax (b) Deferred tax ( credit) (c) Tax In respect of prior year Current tax Deferred tax Total tax expense Profit after tax for the period/year (Ill - IV) Other comprehensive income/(loss) for the period/year (i) Items that will not be reclassified to profit or loss - Gain/(Loss) on Remeasurements of the defined benefit plans Income tax relating to items that will not be reclassified to profit or loss (II) Items that will be reclassified to profit or loss Loss arising on fair valuation of quoted investments in bonds - Income tax relating to items that will be reclassified to profit or loss Total comprehensive income for the period/year (V+VI) Paid-up equity share capital (Face value of'( 5 each) Other equity Earnings per equity share (Face value of'( 5 each) (Basic and DIiuted) • Basic Diluted •Basic and Diluted earnings per share for all the periods, except for the year ended March 31, 2026 are not annualized. SIGNED FOR IDENTIFICATION! BY ~ SR BC & CO U . .P MUMBAI Quarter ended September 30, 2026 Unaudited 711.79 22.19 733.98 368.92 (67.17) 81.06 30.00 87.73 135.94 636.48 97.50 25.96 (1.46) -- 24.50 73.00 (0.02) - - (0.02) 72.98 136.31 2.68 2.67 Quarter ended Quarter ended Six months ended June 30, 2026 September 30, 2025 September 30, 2026 Unaudited Unaudited Unaudited 701.62 635.97 1,413.41 25.78 26.04 47.97 727.40 662.01 1,461.38 318.34 373.73 687.26 (35.45) (89.85) (102.62) 72.04 63.06 153.10 29.61 29.43 59.61 84.80 78.23 172.53 136.06 121.71 272.00 605.40 576.31 1,241.88 122.00 85,70 219.50 33.30 22.59 59.26 (2.67) {0.99) (4.13) - - - - 30.63 21.60 55.13 91.37 64.10 164.37 0.81 (0.05) 0.79 1.17 - 1.17 (0.30) - (0.30) (0.06) (0.05) (0.08) - - - 92.18 64.05 165.16 136.28 136.16 136.31 3.35 2.35 6.03 3.34 2.35 6.01 metro BRANDS '( In Crores Six months ended Vear ended September 30, 2025 March 31, 2026 Unaudited Audited 1,251.06 2,797.16 53.98 100.20 1,305.04 2,897.36 675.28 1,385.41 (143.37) (214.69) 122.53 266.41 53.10 110.90 146.90 310.34 236.31 505.93 1,090 .75 2,364 .30 214 .29 533.06 57.29 141.28 (3.39) (8.30) (0.33) (0.41) - - 53.57 132.57 160.72 400.49 (0.10) (0.34) - (0.16) - 0.04 (0.10) {0.22) - - 160.62 400.15 136.16 136.27 1,816.62 5.90 14.70 5.88 14.67 ~ ~
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A 1 2 B 1 2 3 METRO BRANDS LIMITED Unaudited Standalone Balance Sheet as at September 30, 2026 Particulars ASSETS Non-current assets (a) Property , plant and equipment (b) Capital work-in-progress (c) Goodwill {d) Intangible assets (e) Intangible assets under development (f) Right-of-use assets (g) Financial assets (i) Investments (ii) Other Bank Balances (iii) Other financial assets (h) Deferred tax assets (Net) (i) Non-current tax assets (Net) U) Other non-current assets Total non - current assets Current assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Loans (vi) Other financial assets (c) Other current assets Total current assets Total assets {1+2) EQUllY AND LIABILITIES Equity (a) Equity share capital (b) Other equity Total equity Non-current liabilities (a) Financial liabilities (i) Lease liabilities Total non - current liabilities Current liabilities (a) Financial liabilities (i) Lease liabilities (ii) Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises (iii) Other financial liabilities (bl Other current liabilities (c) Provisions (d) Current tax liabilities (Net) Total current liabilities Total equity and liabilities (1+2+3) SIGNED FOR IDENTIFICATION BY SR BC & CO LLP MUMBAI metro err~·IO'I:. >; in Crores As at As at September 30, 2026 March 31, 2026 (Unaudited) (Audited) 449.31 445.67 18.64 13.63 40.37 40.37 109.77 114.36 8.82 4.59 1,387 .27 1,379.42 28.32 28.32 0.11 0.11 118.63 112.37 46.93 42.80 0.12 0.12 6.68 8.75 2,214.97 2,190.51 946.75 844.13 600.04 646.95 65.31 45.47 34.51 32.27 0.06 0.06 2.49 0.91 125.73 97.82 73.30 77.73 1,848 .19 1,745.34 4,063.16 3,935.85 136.31 136.27 1,909 .65 1,816.62 2,045.96 1,952.89 1,368.3 0 1,354 .67 1,368.30 1,354.67 230.88 215.54 57.96 55.35 233.64 220.18 58.59 66.92 54.62 50.13 8.45 15.68 4.76 4.49 648.90 628.29 4,063.16 3,93S.85
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METRO BRANDS LIMITED Unaudited Standalone Statement of Cash Flows for the six months ended September 30, 2026 metro °"ANos "in Crores - For the six months ended For the six months ended Particulars September 30, 2026 September 30, 2025 (Unaudited) !Unaudited) £ash flow from operating activities Profit before tax for the period 219.50 214.29 )'djustments for: Depreciation and Amortisation expenses 172.53 146.90 Interest Expense 59.61 53.10 Gain on termination of lease (0.87) (0.46) (Gain)/Loss on Sale/Discard of Property Plant & Equipment (net) (0.21) 1.96 Dividend income from Current Investments in Mutual Funds (0.59) (0.54) Net gain on sale of Investments (3.91) (3.12) Net fair value gain arising on current investments designated at MPL (12.79) (20.14) Interest Income (27.70) (25.98) Liabilities no longer required, written back (0.01) (1.47) Employee's Stock Options Expenses 6.39 5.52 Operating profit before working capital changes 411.95 370.06 l'/lovement in working capital: (Increase)/ Decrease in Trade Receivable (19.85) (22.64) (Increase)/ Decrease in other financial assets (10.27) (15.30) (Increase)/ Decrease in other current assets 4.42 (37.15) (Increase)/ Decrease in Inventories (102.62) (143.37) (Increase)/ Decrease in Loan Given (1.99) (Increase)/ Decrease in other non-current assets O.Q3 0.44 Increase/ (Decrease) in trade and other payables 19.91 81.70 Increase/ (Decrease) in other current liabilities 4.50 (30.74) Increase/ (Decrease) in other financial liabilities 1.33 (5.64) Increase/ (Decrease) in Provisions (6.06) (1.28) (108.61) (175.97) Cash generated from operations 303.34 194 .09 Less: Income taxes paid (57.84) (56.92) Net cash generated from operating activities 245.50 137.17 cash flows from investing activities Capital Expenditure on Property, Plant & Equipment and intangible assets including capital advances and (56.25) (61.43) capital creditors Proceeds from Sale/ Discard of Property Plant & Equipment 1.62 0.42 Loan Given (1.58) - Interest Received 16.79 30.33 Investment in Fixed Deposits (21.05) - Redemption of Fixed Deposits - 107.00 Purchase of Current Investments (1,096 .56) (970.74) Redemption of Current Investments 1,160 .08 896.26 Dividend Income from Mutual Funds 0.59 0.54 Net cash generated from investing activities 3.64 2.38 Cash flows from financing activities Proceeds from issue of shares 1.82 1.82 Proceeds from Share application money pending allotment - 0.36 Payment of lease liabilities (166.54) (137.21) Interest paid (0.40) (0.37) Payment of Final Dividend (81.78) - Net cash used in financing activities (246.90) (135.40) Net increase In cash and cash equivalents 2.24 4.15 Cash and cash equivalents at the beginning of the period 32.27 92.54 Cash and cash equivalents at the end of the period 34.51 96.69 SIGNED FOR IDENTIFICP.TION I BY \_ l i SR BC & CO LLF MUMBAI -~-! l..---__:.:..:.::.= '-'--'-'-- -
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METRO BRANDS LIMITED metro Notes to the Statement of Unaudited Standalone financial results for the quarter and six months ended September 30, 2026 BRANDS 1 The above results have been prepared in accordance with the Indian Accounting Standard (Ind AS) - 34 "Interim Financial Reporting" as prescribed under Section 133 of the Companies Act, 2013, read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015, as amended . The unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on October 15, 2026. The statutory auditors of the Company have carried out a limited review of the standalone financial results for the quarter and six months ended September 30, 2026 and have issued an unmodified conclusion. 2 During the quarter ended September 30, 2026, the Company has granted 3,30,619 Employee Stock Options to eligible employees under Employee Stock Options Plan 2008 (ESOP 2008) (for the quarter ended June 30, 2026 : 1,02,993 ; for the quarter ended September 30, 2025 : 1,50,308 ; Previous year ended March 31, 2026 : 2,52,282) and 46,172 Employee Stock Options have been exercised during the quarter ended September 30, 2026 (for the quarter ended June 30, 2026 : 8,770 ; for the quarter ended September 30, 2025: 54,610; Previous year ended March 31, 2026 : 3,00,751). 3 The Company's only business being trading of fashion footwear, bags and accessories operating in the premium and economy category, which in terms of Ind AS 108 - 'Operating Segments' constitutes a single reporting segment. Further, there is no geographical segment to be reported since all the operations are undertaken in India. 4 The Board of Directors at its meeting held on May 20, 2026 had recommended payment of final dividend of 'I: 3.00 per equity share which was approved by shareholders in the Annual General Meeting (AGM) held on September 16, 2026 and paid by the Company on September 28, 2026. 5 Previous year/ period figures are regrouped and rearranged wherever necessary. SIGNED FOR IDENTIFICATION l BY ~ I Place: Mumbai Date : October 15, 2026 S R B C & CO LLP Ji v1 UMBAI -------- --------- For and on behalf of the Board of Directors Metro Brands Limited ~ Farah Mali~~i Managinl!'f>irector
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S R B C& CO LLP Chartered Accountants 12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028, India Tel : +91 22 6819 8000 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Metro Brands Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Metro Brands Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), its joint venture for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: a. Metro Brands Limited, Holding Company b. Metmill Footwear Private Limited, Subsidiary Company c. Metro Athleisure Limited, Subsidiary Company d. M.V. Shoe Care Private Limited, Joint Venture Company 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. SR BC & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street. Block 'B', 3rd Floor. Kolkata-700 016
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S R B C& CO LLP Chartered Accountants Metro Brands Limited Unaudited Consolidated Financial Results - September 30, 2026 Page 2 of 2 6. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of: • One subsidiary, whose unaudited interim financial results include total assets of Rs. 82 .39 crores as at September 30, 2026, total revenues of Rs 18.66 crores and Rs 37.40 crores, total net profit after tax of Rs. 3.07 crores and Rs. 6.07 crores, total comprehensive income of Rs. 3.07 crores and Rs. 6.07 crores, for the quarter ended September 30, 2026 and the period ended on that date respectively, and net cash inflows of Rs. 0.25 crores for the period from April 01, 2026 to September 30, 2026, as considered in the Statement which has been reviewed by its independent auditor. • One joint venture, whose unaudited interim financial results include Group's share of net profit of Rs. 0.32 crores and Rs. 0.70 crores and Group's share of total comprehensive income of Rs. 0.32 crores and Rs. 0. 70 crores for the quarter ended September 30, 2026 and for the period from April 01, 2026 to September 30, 2026 respectively, as considered in the Statement whose interim financial results, other financial information has been reviewed by its independent auditor. The independent auditor's reports on interim financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of the subsidiary and joint venture is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above. 7. The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of one subsidiary, whose interim financial results and other financial information reflect total assets of Rs 16.74 crores as at September 30, 2026, and total revenues of Rs 2.57 crores and Rs 4.79 crores, total net profit after tax of Rs. 1.21 crores and Rs. 1.98 crores, total comprehensive income of Rs. 1.21 crores and Rs. 1.98 crores, for the quarter ended September 30, 2026 and the period ended on that date respectively and net cash outflows of Rs. 2.36 crores for the period from April 01, 2026 to September 30, 2026. The unaudited interim financial results and other unaudited financial information of this subsidiary has not been reviewed by their auditor and have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of this subsidiary, is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanations given to us by the Management, this interim financial results are not material to the Group. Our conclusion on the Statement in respect of matters stated in para 6 and 7 above is not modified with respect to our reliance on the work done and the reports of the other auditors and the financial results certified by the Management. For SR BC & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 ~ per Firoz Pradhan Partner Membership No.: 109360 UDIN: 26109360FYLDOH7109 Place: Mumbai Date: October 15, 2026
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Sr. ND, I II Ill IV V VI VII VIII IX X XI XII XIII H METRO BRANDS LIMITED CIN No. : L19200MH1977PLC019449 Registered office : 401, Zillion, 4th Floor, LBS Marg & CST Road Junction, Kurla (West), Mumbai - 400 070 Statement of Unaudited Consolidated financial results for the quarter and six months ended September 30, 2026 Particulars Income (a) Revenue f rom operations (b) Other Income Total Income: Expenses (a) Purchases of stock-in-trade (b) Changes in inventories of stock In trade (c) Emplo~ee benefits e,cpense (d) Finance costs (e) De~reciation and amortization expenses (f) Other expenses Total Expenses Profit before share of profit of a joint venture {I-Ill Share of profit of a joint venture (net of tax) Profit before ta• for the period/year (llt+IV) Tax expense (a) Current tai.: (bl Deferred tax (Credit) (c) Tax in respect of prior year Current tax Deferred tax Total tax eMpense Profit after tax for the period/year (V-VIJ Other comprehensive income/(loss) for the period/year (a) Items that will not be reclassified to profit or loss Gain/(Loss) on Remeasurements of the defined benefit plans (I) Group (ii) Share in Joint Venture Income tax relating to items that will not be reclassified to profit or loss (b) Items that will be reclassified to profit or loss Loss arising on fair valuation of (IUoted investments In bonds Income tax relating to items that will be reclassified to profit or loss Total comprehensive income for the period/year (Vll+VIII) Profit after tax for the period/year Attributable to : Equity holders of the Parent Non•Controlling Interest Total comprehensive income for the period/year Attributable to : Equity haldeu of the Parent Non~Controlllng Interest Paid~up equity share capital {Face value of, 5 each) Ot~er equity Earnings per equity share (Face value of~ 5 each) (Basic and Diluted)• Basic Diluted •easic and Diluted earnings per share for all the periods, except for the year ended March 31, 2026 are not annualized. SIGNED FOR IDENTIFICATION BY SR BC & CO LLP MUMS,\! Quarter ended Quarter ended Quarter ended Six months ended September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 Unaudited Unaudited Unaudited Unaudited 730.27 720.36 651.14 1,450.63 22.94 26.31 28.18 49.25 753.21 746 .67 679.32 1.499 .88 379.53 324.23 386 .96 703,76 (GB.SB) (32.30) (95.58) (100 88) 84.47 75.89 66.18 160 .36 30.00 29.62 29.44 59 62 87.91 84 .97 78.40 172 .88 137.44 137.89 122,86 275.33 650.77 620.30 588.26 1,271.07 102.44 126.37 91.06 228.81 0.32 0.38 0.06 0.70 102.76 126,75 91.12 229.51 27.01 34.25 23 ,54 61 .26 (1.53) (2.76) (1.40) (4.29) - 25.41! 31.49 22.14 56.97 77.28 95.26 68.98 172.54 (0.02) 0.81 (0.05) 0.79 1.17 1.17 - (0.30) (0.30) (0,02) (0,06) (0.05) (0.08) 77.26 96.07 68.93 173.33 77.28 95.26 68.98 172.54 75 .77 93.79 67.69 169.56 1,51 1.47 1.29 2.98 77.26 96.07 68.93 173.33 75.75 94.60 67.64 170.35 1.51 1.47 1.29 2.98 136.31 136 .28 136.16 136.31 2.78 3.44 2.49 6.22 2.77 3.43 2.48 6.20 metro , in Crore.s- Six months ended Year ended ~•ptember 30, 2025 March 31, 2026 Unaudited Audited 1,279.38 2,863.63 56.76 104.22 1,336.14 2,967.85 695.86 1,424.17 (148 .95) (219.05) 129.14 279.83 53.12 110.94 147.24 311,01 238.71 511.24 1,115.12 2.418.14 221.02 549.71 0.92 1.54 221.94 551.25 58.30 144.52 (3.81) (8.77) (0.33) (0.39) - 54.16 135.36 167.78 415.89 (0.10) (0.38) - (0.22) 0.06 (0.10) (0 22) 167.68 415.51 167.78 415.89 166.20 411.17 1.58 4,72 167.68 415.51 166.10 410.81 1.58 4,70 136.16 136.27 1,856 .88 6.10 15.10 6.08 15.06
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A 1 2 B 1 2 3 METRO BRANDS LIMITED Unaudited Consolidated Balance Sheet as at September 30, 2026 Particulars ASSETS Non-current assets (a) Property, plant and equipment (b) Capital work-in-progress (c) Goodwill (d) Intangible assets (e) Intangible assets under development (f) Right-of-use assets (g) Investment accounted for using equity method (h) Financial assets (i) Investment Others (ii) Other Bank Balances (iii) Other financial assets (i) Deferred tax assets (net) (j) Non-current tax assets (net) (kl Other non-current assets Total non• current assets Current assets (a) Inventories (bl Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank Balances other than (iii) above (v) Loans (vi) Other financial assets (cl Other current assets Total current assets Total assets (1+2) EQUITY AND LIABILITIES Equity (a) Equity share capital (bl Other equity Equity attributable to the owners of the Company Non-Controlling Interests Total equity Non-current liabilities (a) Financial liabilities (i) Lease liabilities (bl Provisions Total non• current liabilities Current liabilities (a) Financial liabilities (i) Lease liabilities (ii) Trade payables Total Outstanding dues of micro enterprises and small enterprises Total Outstanding dues of creditors other than micro enterprises and small enterprises (iii) Other financial liabilities (b) Other Current liabilities (c) Provisions (d) Current tax liabilities (Net) Total current liabilities Total equity and liabilities (1+2+3) SIGNED FOR IDENTIFICATION BY ~ SR BC & CO LLP MUMBAI metro E:A/\NO s "in crores As at As at September 30, 2026 March 31, 2026 Unaudited Audited 450.22 446.68 18.64 13.63 40.91 40.91 112.47 117 .23 8.82 4.59 1,387 .27 1,379 .42 17.36 16.66 0.01 0.01 0.11 0.11 124.94 115.10 47.04 42 .75 0.24 0.19 6.68 8.75 2,214.71 2,186.03 956.82 855 .95 614.86 655 .94 118.80 95.46 35.28 32.57 6.68 9.24 2.62 0.96 125.88 98.25 75.74 80.90 1,936.68 1,829.27 4,151.39 4,015.30 136 .31 136 .27 1,955.10 1,856.88 2,091.41 1,993.15 36.53 33.55 2,127.94 2,026.70 1,368.30 1,354.67 0.99 0.93 1,369.29 1,355.60 230.88 215.54 61.22 58.21 233.98 219.95 58.59 66.91 55.78 51.21 8.78 16.02 4.93 5.16 654.16 633.00 4,151.39 4,015.30
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METRO BRANDS LIMITED Unaudited Consolidated Statement of cash flow for the six months ended September 30, 2026 metro BRANDS "in crores Particulars For the six months ended For the six months ended September 30, 2026 September 30, 2025 Unaudited Unaudited caish flow from Operating Activities Profit before tax for the period (before share of profit of joint venture) 228.81 221.02 Adjustments for: Depreciation and Amortisation expenses 172.88 147.24 Interest Expense 59.62 53.12 Gain on termination of lease (0.87) (0.46) (Gain)/Loss on Sale/Discard of Property Plant & Equipment (net) (0.21) 1.96 Dividend income from Current Investments in Mutual Funds (0.59) (0.59) Net gain on sale of Investments (3.99) (3.12) Net Gain arising on Investments designated as FVTPL (12.88) (20.14) Interest Income (28.44) (26.68) Liabilities no longer required, written back (0.33) (1.66) Employee's Stock Options Expenses 6.39 5.52 Operating profit before working capital changes 420.39 376.21 Movement in working capital: (lncrease)/Decrease in Trade Receivable (23.34) (25.19) (lncrease)/Decrease in Other financial assets (13.87) (15.40) (lncrease)/Decrease in Other current assets 5.16 (37.24) (lncrease)/Decrease in Inventories (100.87} (148.95) (lncrease)/Decrease in Loan Given - (2.03) (lncrease)/Decrease in Other non-current assets 0.03 a.so lncrease/(Decrease) in Trade and other payables 21.13 87.76 lncrease/(Decrease) in Other current liabilities 4.57 (30.44) lncrease/(Decrease) in Other financial liabilities 1.33 (5.64) lncrease/(Decrease) in Provisions (6.01) (1.37) (111.87) (178.00) Cash generated from Operations 308.52 198.21 Less: Income taxes paid (60.39) (57.48) Net cash generated from Operating Activities 248.13 140.73 Cash flows from Investing Activities Capital Expenditure on Property, Plant & Equipment and Intangible assets (56.30) (61.54) including Capital Advances and Capital Creditors Proceeds from Sale/ Discard of Property , Plant & Equipment 1.62 0.42 Loan Given (1.66) . Interest Received 17.83 30.68 Investment in Fixed Deposits (21.05) . Redemption of Fixed Deposits . 107.00 Purchase of Current Investments (1,102.20) (981.40) Redemption of Current Investments 1,162 .66 901.76 Dividend Income from Mutual Funds 0.59 0.59 Net cash generated from/(used in) Investing Activities 1.49 (2.49) Cash flow from Financing Activities Proceeds from issue of shares 1.82 1.82 Proceeds from Share application money pending allotment . 0.36 Payment of Lease Liabilities (166.54) (137.21) Finance cost (0.41) (0.39) Payment of Final Dividend (81.78) - Net cash used in Financing Activities (246.91) (135.42) Net Increase in cash and cash equivalents 2.71 2.82 Cash and cash equivalents at the beginning of the period 32.57 94.84 Cash and cash equivalents at the end of the period 35.28 97.66 SIGNED FOR IDENTIFICATION BY \ SR BC & CO LLP \-1'1 ~ ....__ __ ......;M'--'U'-'-M= B;:.;..A-'-'-1 __ __, ~
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METRO BRANDS LIMITED metro BRANDS Notes to the Statement of Unaudited Consolidated financial results for the quarter and six months ended September 30, 2026 1 The above results have been prepared in accordance with the Indian Accounting Standard (Ind AS) 34 - "Interim Financial Reporting" as prescribed under Section 133 of the Companies Act, 2013, read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015, as amended . The unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on October 15, 2026. The statutory auditors of the Parent have carried out a limited review of the consolidated financial results for the quarter and six months ended September 30, 2026 and have issued an unmodified co_nclusion . 2 During the quarter ended September 30, 2026, the Company has granted 3,30,619 Employee Stock Options to eligible employees under Employee Stock Options Plan 2008 (ESOP 2008) (for the quarter ended June 30, 2026 : 1,02,993, for the quarter ended September 30, 2025 : 1,50,308 ; Previous year ended March 31, 2026 - 2,52,282) and 46,172 Employee Stock Options have been exercised during the quarter ended September 30, 2026 (for the quarter ended June 30, 2026: 8,770, for the quarter ended September 30, 2025: 54,610; Previous year ended March 31, 2026- 3,00,751). 3 The Group's only business being trading of fashion footwear, bags and accessories operating in the premium and economy category, which in terms of Ind AS 108 - 'Operating Segments' constitutes a single reporting segment . Further, there is no geographical segment to be reported since all the operations are undertaken in India. 4 The Board of Directors at its meeting held on May 20, 2026 had recommended payment of final dividend of ai: 3.00 per equity share which was approved by shareholders in the Annual General Meeting (AGM) held on September 16, 2026 and paid by the Company on September 28, 2026. 5 Previous year/ period figures are regrouped and rearranged wherever necessary. Place: Mumbai Date : October 15, 2026 SIGNED FOR IDENTIFICATION BY ~ SR BC & CO LLP MUMBAI For and on behalf of the Board of Directors M~ ;ted FarahM ~ Manag ing Director