Ace investor- Rakesh Jhunjhunwala added stake in this newly listed Footwear company

resr 5paisa Research Team

Last Updated: 14th December 2022 - 04:59 am

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This company has 3rd largest number of retail outlets in India

Rakesh Jhunjhunwala is known as the Big Bull of India. Many investors follow his buy or sell action to that he takes to manage his own portfolio.

According to June quarterly filings, Jhunjhunwala has purchased additional shares of Metro Brands Ltd. Previously he held 9.6% stake in the company which now has increased to 14.4% stake, owing 39,153,600 quantities of equity share. As of August 11, the market value of total stake held is Rs 3120.5 crore.

As of April 2022, Metro Brands operates 644 stores located in 147 cities across 30 states in India. The company is involved in the retail footwear business under their own brands- Metro, Mochi, Walkway, J. Fontini, and Da Vinchi; and, under third-party brands- Crocs, Skechers, Clarks, Fitflop, and Florsheim.

As per Q1 FY23, 75% of the revenue comes from its own brand and the rest 25% comes from third-party brands. According to zone-wise revenue breakdown, Southern part of India contributes 32%, 29% comes from West, 25% comes from North, and the rest 14% is contributed by the East.

About Q1 FY23 result, the company revenue jumped by 294.16% YOY from Rs 126.15 in Q1 FY22 to Rs 497.23% in Q1 FY23. The net profit returned positive from net loss of Rs 10.26 crore in Q1 FY22 to net profit of Rs 103.17 crore in Q1 FY23.

In May, the company had announced dividend payout of Rs 0.75 per equity share with an ex-dividend date of August 29, 2022.

Metro Brands Ltd is newly listed company which went public in late December last year. The company belongs to S&P BSE group ‘B’ and has a market capitalization of Rs 21,723 crore.

On August 11, at 12:43 pm, the stock is trading at Rs 804.3 with 2.1% gain. The stock has a 52-week high and low of Rs 812 and Rs 426.1, respectively.

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