Rekha Jhunjhunwala Stock: Rs 3.00 Interim & Rs 14.50 Special Dividend, Record Date Set; Will This Unlock Value

Metro Brands Limited is an Indian retailer of footwear and accessories. Among the company's several brands are J. Fontini, DaVinchi, Walkway, Mochi, and Metro. Additionally, it sells third-party brands such as Adidas, Puma, Crocs, FitFlop, Fila, Skechers, and Clarks. It is among the leading Indian brands in the footwear industry and one of the largest speciality retailers of footwear and accessories in India. Rekha Jhunjhunwala, wife of Rakesh Jhunjhunwala, who was frequently dubbed India's Warren Buffett, owns shares in Metro Brands.

Metro Brands Dividend

"Pursuant to provisions of Regulation 30, 33 and 42 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Board of Directors of the Company at their Meeting held today i.e. on Friday, February 28, 2025, which commenced at 4:03 P.M. and concluded at 4:13 P.M. have inter alia, considered and declared for the FY 202425, Interim Dividend of INR 3.00/- per equity share and a Special Dividend of INR 14.50/- per equity share having face value of INR 5/- each. Further, it is hereby informed that Friday, March 7, 2025, shall be reckoned as the 'Record Date' for the purpose of ascertaining the eligibility of shareholders for payment of Interim and Special Dividend for the FY 2024-25. The date of payment of the aforesaid Interim and Special Dividend shall be within thirty (30) days from the date of declaration," said Metro Brands in a stock exchange filing.

Metro Brands Financials

The company's third quarter ending December 31, 2024, saw a net profit of Rs 95 crore, decreasing 3% year over year (Y-o-Y) from Rs 98 crore from the year-ago quarter. Metro Brands' revenue for Q3FY25 was Rs 703 crore, rising 10.6% from Rs 636 crore in the same period last year. The company operates 895 stores in 203 locations in 31 Indian states and union territories as of December 31, 2024. In the third quarter of current fiscal year, EBITDA increased 13.1% to ₹225 crore from ₹199 crore in Q3FY24. The reporting quarter's EBITDA margin was 32%, up from 31.3% during the same time in the prior fiscal year.

Metro Brands Share Price Target

Hardik Matalia - Derivative Analyst at Choice Broking said, "METROBRAND is currently trading at ₹1,117.15, experiencing a significant decline of 3.85% in the latest session. The stock has recently broken below key moving averages, suggesting bearish momentum. Despite this weakness, it is hovering near a crucial support zone, making this a decisive phase where price action needs to stabilize to prevent further downside. On the daily timeframe, the stock has been forming lower highs and lower lows, reflecting continued selling pressure. However, a strong rebound from the current level could indicate a potential reversal."

"If Metro Brands manages to hold above the ₹1,150-₹1,200 range, it could signal a strong confirmation of trend reversal, paving the way for further upside momentum. The Relative Strength Index (RSI) is at 41.14, reflecting a sideways-to-bearish trend, suggesting that a time-wise or price-wise correction may be necessary before any meaningful recovery. The stock is currently trading below the 20-day, 50-day, and 200-day EMAs, reinforcing the prevailing downside pressure," the analyst added.

"For short-term traders, a sustained move above ₹1,200 would be an ideal entry point, as it could confirm renewed buying interest and drive the price higher. Until then, a wait-and-watch approach is advisable rather than entering prematurely. Long-term investors, however, can consider accumulating at ₹1,100 and adding on dips, given the potential for a rebound if key support holds. A decisive move above ₹1,200 could turn the trend bullish, while failure to sustain may lead to further consolidation or a retest of lower levels," Hardik Matalia further recommended.

Disclaimer

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