Metro Brands Limited shareholders have approved the appointment of Sonny Iqbal as an independent director. The appointment takes effect from August 5, 2026.

The company confirmed the ratification in a filing with stock exchanges on September 16, 2026. Shareholders approved the move at the 49th Annual General Meeting held on the same date.

Appointment Details

Mr. Iqbal will serve a term of five years. He is appointed as a non-executive independent director and is not liable to retire by rotation. The company stated he satisfies the independence criteria under the Companies Act, 2013, and SEBI Listing Obligations Regulations.

Professional Background

Mr. Iqbal brings extensive experience in leadership development and family enterprise advisory. He spent 27 years at Egon Zehnder, helping establish its offices in New Delhi, Bengaluru, and Mumbai. He currently serves as a Senior Advisor at the firm.

He co-founded Egon Zehnder’s global Family Business Advisory Practice, guiding multigenerational enterprises through succession and governance structures. His work has been published in six articles in the Harvard Business Review. Additionally, he serves as a Senior Advisor at ChrysCapital, one of India’s largest private equity firms.

Prior to his tenure at Egon Zehnder, Mr. Iqbal held key positions with the Oberoi Group across India, the UK, and the Middle East. He also managed the financial and travel services business of American Express in India. He holds an MBA in Marketing from the University of Surrey, UK.

Metro Brands shareholders approved the FY26 financial results at its 49th annual general meeting held on September 16, 2026. The footwear retailer reported consolidated revenue from operations of ₹2,864 crore, a 14.2% increase year-on-year.

Profit after tax (PAT) rose 17.3% to ₹416 crore, while EBITDA grew 14.5% to ₹869 crore, maintaining an EBITDA margin of 30.3%. The Board declared a final dividend of ₹3 per equity share, in addition to the interim dividend of ₹3 per share already paid.

Financial Performance

The company demonstrated accelerating growth momentum during the fiscal year. Revenue expansion strengthened progressively, starting at 9% in Q1FY26 and reaching 20% in Q4FY26. This acceleration occurred despite continued investments in store expansion, marketing, technology, and newer retail formats.

What the Numbers Show

PAT growth outpaced top-line revenue growth by approximately 3 percentage points (17.3% vs 14.2%), even as the company maintained its EBITDA margin at 30.3%. This divergence suggests that factors beyond operating leverage—such as lower effective tax rates or higher other income—contributed to the bottom-line expansion, as operating margins remained stable despite significant capex in new stores and formats.

Operational Highlights

Metro Brands crossed the milestone of 1,000 stores during FY26. The network expanded by 124 net additions, with 147 new stores opened and 23 closed, bringing the total year-end count to 1,032 outlets.

E-commerce emerged as a significant growth driver, with digital revenue surging 39% to contribute 12.9% of overall sales. The integration of physical and digital networks supported this expansion, alongside investments in supply chain infrastructure and AI-driven decision-making tools.

Strategic Initiatives

The company broadened its portfolio through partnerships in comfort footwear, sneaker culture, sports performance, and athleisure. Key brands under the Metro Brands umbrella include MetroActiv, Foot Locker, FILA, New Era, and Clarks.

Sustainability remained a core focus, with the company achieving full recycling coverage for all footwear sold during the year through its scaled recycling programme.

Governance and Resolutions

Shareholders approved several key resolutions at the AGM:

• Re-appointment of Ms. Alisha Rafique Malik as Whole-time Director.
• Re-appointment of Ms. Farah Malik Bhanji as Managing Director.
• Appointment of Mr. Sonny Iqbal as Independent Director.
• Approval of remuneration for Non-Executive Chairman Mr. Rafique Abdul Malik.
• Amendments to the 'METRO Stock Option Plan 2008' and approval of the 'Metro Brands Limited – Employee Stock Option Scheme 2026'.

The Statutory Auditors' Report and Secretarial Auditors' Report for FY25-26 contained no qualifications or adverse remarks.