Metro Brands COO Sohel Kamdar resigns

8 Mar 2022 , 09:37 AM

The company has accepted the resignation and shall relieve him from his responsibilities w.e.f. 15 March 2022.

Further, the company informed that Tarannum Bhanpurwala, company secretary & compliance officer of the company, had tendered her resignation citing personal reasons. She will continue with the company as deputy company secretary. The board has accepted her resignation and has relieved her from the responsibilities w.e.f. 7 March 2022.

The board of Metro Brands has approved the appointment of Deepa Sood as the company secretary and the compliance office of the company w.e.f. 7 March 2022.

The board has declared an interim dividend of Rs 1.50 per equity share for the financial year 2021-22. At yesterdays closing price of Rs 517.90, the dividend translates to a dividend yield of 0.29%.

The company had fixed 19 March 2022 as the record date for the purpose of ascertaining the members for entitlement of the said interim dividend. The dividend shall be paid to shareholders within 30 days from the date of declaration.

Metro Brands is one of Indias largest footwear retailers and is among the aspirational Indian brands in the footwear category. The company opened its first store under the Metro brand in Mumbai in 1955 and has since evolved into a one-stop-shop for all footwear needs.

The company posted a 54.6% rise in consolidated net profit to Rs 100.85 crore on a 59% jump in net sales to Rs 483.77 crore in Q3 FY22 over Q3 FY21.

Shares of Metro Brands were trading 0.08% higher at Rs 518.30 on BSE.

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