Transcript of the Investor Call on Un-audited Financial Results (Consolidate and Standalone) for the quarter ended June 30, 2026.

Date: August 10, 2026 The Manager The Manager Listing Department Listing Department BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, “Exchange Plaza”, 5th Floor, Plot No. C/1, Dalal Street, Mumbai – 400001 G Block, Bandra – Kurla Complex, Bandra Maharashtra, India Mumbai-400051, Maharashtra, India Scrip code: 543426 Symbol: METROBRAND Subject: Transcript of the Investor Call on Unaudited Financial Results (Consolidated and Standalone) for the quarter ended June 30, 2026. Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Dear Sir/Madam, In continuation of our letters dated July 28, 2026, and August 05, 2026, and pursuant to Regulation 30(6) of the Listing Regulations, please find enclosed the transcript of the earnings conference call for the quarter ended June 30, 2026, conducted after the meeting of Board of Directors held on August 04, 2026, for your information and records. The above information is also available on the website of the Company at https://metrobrands.com. Yours faithfully, For Metro Brands Limited, Deepa Sood Chief Legal Officer, Company Secretary & Compliance Officer Membership No: 16019 Encl.: As above “Metro Brands Limited Q1 FY ’27 Earnings Conference Call” August 05, 2026 MANAGEMENT: MR. RAFIQUE MALIK – CHAIRMAN – METRO BRANDS LIMITED MRS. FARAH MALIK BHANJI – MANAGING DIRECTOR – METRO BRANDS LIMITED MR. NISSAN JOSEPH – CHIEF EXECUTIVE OFFICER – METRO BRANDS LIMITED MR. KAUSHAL PAREKH – CHIEF FINANCIAL OFFICER – METRO BRANDS LIMITED MR. MOHIT DHANJAL – CHIEF OPERATING OFFICER – METRO BRANDS LIMITED MS. ALISHA RAFIQUE MALIK – PRESIDENT, SPORTS DIVISION, E-COMMERCE AND CRM – METRO BRANDS LIMITED MODERATOR: MR. ADITYA BANSAL – MOTILAL OSWAL FINANCIAL SECURITIES Page 1 of 18 Metro Brands Limited August 05, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Metro Brands Q1 FY '27 Earnings Conference Call hosted by Motilal Oswal Financial Securities. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Aditya Bansal from Motilal Oswal Financial Securities. Thank you, and over to you, sir. Aditya Bansal: Thanks, Alaric. Good afternoon, everyone. On behalf of Motilal Oswal, I welcome you to the 1Q FY '27 earnings call of Metro Brands. Joining us today from the management, we have Mr. Rafique Malik, Chairman; Ms. Farah Malik Bhanji, Managing Director; Mr. Nissan Joseph, CEO; Mr. Kaushal Parekh, CFO; Mr. Mohit Dhanjal, COO; and Ms. Alisha Rafique Malik, President- Sports Division, E-commerce and CRM. Without further delay, let me now hand over the call to the management for their opening remarks. Over to you, Nissan. Nissan Joseph: Thank you, Aditya. Good afternoon, everyone, and thank you for joining our earnings call. In Q1 FY '27, we posted a 14% growth in our stand-alone business, along with a 9% growth in EBITDA, leading to a 13% PAT. As a recap of our sales performance through the quarter, April and May were soft due to the overhang of the U.S.-Iran conflict and also a shift in marriage dates linked to the Adhik Maas. However, we were very pleased to see June recover extremely well for us to post a mid-teen double-digit gain for the quarter. Through the quarter, we saw very good sales performance come from Clarks and also from the marketing campaigns that we launched in Metro and Mochi. We continue to see consistent growth from our multiple e-com channels. While the total growth was only 9%, to give you some color, I would like to break it out by our 3 pillars of our digital business. Our D2C website grew at almost 60% compared to last year. Our marketplace omni business also grew by 60%. It was the SOR 3P business that pulled down the numbers to a 9% growth. This was due to a certain degree of lumpiness of sales that comes from these kind of seasonal orders, but also a conscious decision on our part to reduce lower price points and our discounts on the 3P business. For the year, we are confident that our D2C business and our omni business continuing to produce double-digit gains for the year. In the area of new stores, we opened 13 new stores and closed 4 stores for a net of 9 stores. While I know this is a much lower number than most other quarters, it is in no way reflective of our goal of continuing our growth. Sometimes market economics change how stores open from quarter-to-quarter, but we remain committed to continuing the growth that you've seen from us over the last few years. A few points to highlight before I hand it over to questions. The health of our business is indicated in a few areas. One is our gross margins, which continue to match our highest gross margin for the past 5 quarters, coming in at almost 60%. This was largely due to the quick action of the team to mitigate any input costs while also controlling inventory. Page 2 of 18 Metro Brands Limited August 05, 2026 Secondly, our revenue per square foot has stayed consistent year-on-year despite opening many new stores, which, as you know, do not have the same productivity as our mature stores. And last but not least, EBITDA margins continue to remain at 30%, which is what we've always guided to. Our PAT margins were impacted by 4 items: our increase in investment in brand-building marketing; a modest increase in occupancy costs, primarily driven by new format additions and the number of new stores we opened; lower treasury income against a high-performing number last year; and last, but most importantly, our investment in talent and tech in the organization as we continue to invest for the future. Also as an update, our new distribution center of roughly 250,000 square feet, which launched in March, is now fully operational with all integrations complete. As a wrap-up to the opening remarks, I'm extremely pleased to see us drive business without compromising gross margins or productivity per square foot. Our gross margins and EBITDA continue to remain healthy, and we continue to guide to a 15% PAT for the full year. With that, I'd like to turn it back to the operator for questions. Moderator: Thank you. The first question comes from the line of Videesha Sheth with AMBIT Capital. Please go ahead. Videesha Sheth: My first question was when we look at the numbers of consumer companies which have reported recently, the growth has largely held up without any material impact from macros, or even where wedding slowness is on the higher side, growth has not been as impacted. So can you elaborate a little on the muted growth seen in the months of April and May? And just as a follow-up to this or as an extension to this, was there a material divergence in the growth seen in April and May versus June? Nissan Joseph: Yes, we definitely saw a shift in business, Videesha, between April and May. If you compare it to last year, there was significantly lower wedding dates. In fact, if I recall correctly, the number was 0 in April and May, and it rebounded in June. So, we did see that shift come through. And, I think there was a distraction. I wouldn't call it an impact to business, but there was a distraction in consumer sentiment as the war prolonged through April and May, which I think a lot of people did not anticipate that to happen. But overall, we did see a little damp in April and May. But however, June came back rebounding very well. And just to give you some more color on June, last year in June, we had significant monsoons throughout the country, which, as you know, helped our Crocs business tremendously. We did not have that this year. So, our Crocs business, while it didn't do as well, pre-monsoon, the rest of the busin [Showing first 8,000 characters — download PDF for full document]