Buy Metro Brands, target price Rs 1500: Motilal Oswal

Motilal Oswal has buy call on Metro Brands with a target price of Rs 1500. The current market price of Metro Brands Ltd. is Rs 1373.

Metro Brands Ltd., incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 37155.69 Crore) operating in Leather sector.

Metro Brands Ltd. key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 571.85 Crore, down -4.20 % from last quarter Total Income of Rs 596.89 Crore and up 17.17 % from last year same quarter Total Income of Rs 488.07 Crore. Company reported net profit after tax of Rs 67.11 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 74.2 per cent stake in the company as of 30-Sep-2023, while FIIs owned 2.33 per cent, DIIs 6.1 per cent.