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EMIL - Electronics Mart

📊 NSE: EMIL 🏢 Trading 📅 Last Updated: 12/13/2025 21:47

📢 Recent Corporate Announcements

Electronics Mart India to Attend Investec Investor Conference on March 11, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Mar 2026, 03:38 PM

Electronics Mart India Limited (EMIL) has announced its participation in an investor conference organized by Investec on March 11, 2026. The event will be held at Trident BKC, Mumbai, featuring both group and one-to-one interactions between 10:00 AM and 6:00 PM. The company stated that discussions will be based strictly on publicly available information. Such meetings are standard practice for listed companies to engage with institutional investors and analysts.

Investor meeting scheduled for March 11, 2026, in Mumbai.
Event organized by Investec at Trident BKC from 10:00 AM to 6:00 PM.
Format includes both group and one-to-one interaction sessions.
Compliance with SEBI Regulation 30(6) regarding institutional disclosures.

💡 No immediate action is required as this is a routine regulatory filing. Investors should look for any subsequent investor presentations or transcripts that may be released following the conference.

EMIL Releases Audio Recording of Q3 & 9M FY26 Earnings Conference Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Feb 2026, 06:28 PM

Electronics Mart India Limited (EMIL) has officially released the audio recording of its earnings conference call held on February 9, 2026. The call focused on the company's financial performance for the third quarter and nine-month period ending December 31, 2025. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations, 2015. Investors can access the recording via the company's investor relations portal to gain insights into management's outlook.

Audio recording of Q3 and 9M FY26 earnings call is now available for public access.
The conference call was conducted on February 9, 2026, following the results announcement.
The recording covers financial performance discussions for the period ended December 31, 2025.
Compliance filing submitted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements).

💡 Investors should listen to the recording to understand management's perspective on consumer demand and store expansion strategies. No immediate action is required as this is a procedural filing.

Electronics Mart India Opens New 7,700 Sq. Ft. Bajaj Electronics Store in Telangana

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 09 Feb 2026, 02:46 PM

Electronics Mart India Limited (EMIL) has announced the commencement of commercial operations for a new multi-brand retail store under the 'BAJAJ ELECTRONICS' brand. The new outlet is located in Shankarpally, Ranga Reddy District, Telangana, and spans an area of 7,700 square feet. This expansion aligns with the company's strategy to deepen its retail presence in its core market of Telangana. The store became operational on February 9, 2026, and is expected to contribute to the company's revenue growth in the retail segment.

Commenced commercial operations of a new 'BAJAJ ELECTRONICS' store on February 9, 2026
The new retail outlet covers a total area of 7,700 square feet
Located at Fathepur, Shankarpally, Ranga Reddy District, Telangana
Strengthens the company's footprint in the high-growth Telangana region

💡 Investors should view this as a positive step in the company's physical expansion strategy. Monitor the company's quarterly revenue growth and store-level productivity to assess the efficiency of these new rollouts.

Electronics Mart India Q3 FY26 Revenue Up 7% to ₹1,940 Cr; PAT Impacted by Exceptional Charge

🔵 WATCH ⭐ 8/10

EARNINGS 📅 09 Feb 2026, 02:08 PM

Electronics Mart India Limited (EMIL) reported a 7% YoY revenue growth in Q3 FY26, reaching ₹1,940 Crores, supported by a 2.5% Same Store Sales Growth (SSSG). While EBITDA grew 17% YoY to ₹119 Crores, Profit After Tax (PAT) declined 12% to ₹30 Crores due to a one-time exceptional charge for new Labour Code gratuity provisioning. The company is aggressively scaling its North cluster, which saw 30% revenue growth but currently operates at a thin 0.5% EBITDA margin compared to 6.2% in the South. With 136 stores still in the non-mature phase (average age 1.9 years), management anticipates significant operating leverage as these locations scale.

Q3 FY26 Revenue increased 7% YoY to ₹1,940 Crores with EBITDA rising 17% to ₹119 Crores.
PAT for Q3 FY26 stood at ₹30 Crores, down 12% YoY, after accounting for exceptional labour code adjustments.
The company expanded its network to 219 stores across 94 cities, with 19 net store openings in 9M FY26.
North cluster revenue grew 30% YoY in Q3, though store-level EBITDA margins remain low at 0.5%.
Average Ticket Size increased to ₹23,616 in Q3 FY26, reflecting a premiumization trend in product mix.

💡 Investors should focus on the margin expansion potential as 136 non-mature stores reach the 4-year maturity mark. Monitor the North cluster's progress in reaching the 6%+ EBITDA margins seen in the mature South cluster.

Electronics Mart India Q3 FY26 Revenue Up 7.5% to ₹1,940 Cr; PAT Declines 11.5% YoY

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 09 Feb 2026, 01:49 PM

Electronics Mart India Limited (EMIL) reported a 7.5% year-on-year growth in revenue for Q3 FY26, reaching ₹19,396.53 million. However, Net Profit for the quarter declined by 11.5% to ₹296.51 million compared to ₹335.11 million in Q3 FY25. The profitability was impacted by a one-time exceptional charge of ₹42.63 million related to the New Labour Code and a significant rise in finance costs. For the nine-month period ended December 2025, PAT saw a sharp decline of nearly 50% YoY, falling to ₹674.43 million.

Revenue from operations grew 7.5% YoY to ₹19,396.53 million in Q3 FY26.
Net Profit (PAT) decreased by 11.5% YoY to ₹296.51 million from ₹335.11 million.
Finance costs increased by 29% YoY to ₹387.02 million during the quarter.
Exceptional loss of ₹42.63 million recorded due to employee benefit obligations under the New Labour Code.
9M FY26 PAT stands at ₹674.43 million, down from ₹1,338.44 million in 9M FY25.

💡 Investors should exercise caution as rising finance and depreciation costs are significantly compressing margins despite steady revenue growth. Monitor the company's debt levels and operational efficiency in the upcoming quarters to see if profitability stabilizes.

Electronics Mart India to Attend Nuvama Investor Conference on February 11, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Feb 2026, 12:25 PM

Electronics Mart India Limited (EMIL) has announced its participation in an upcoming investor conference organized by Nuvama. The event is scheduled for February 11, 2026, and will involve group meetings with institutional investors and analysts from 9:00 A.M. to 6:00 P.M. The company has clarified that discussions will be based strictly on publicly available information, ensuring compliance with SEBI regulations. Such meetings are standard practice for listed companies to maintain transparency and engage with the investment community.

Investor conference scheduled for February 11, 2026, at Grand Hyatt.
The event is organized by Nuvama and features group-style interactions.
Meeting window is set between 09:00 A.M. and 06:00 P.M.
Discussions will be limited to publicly available information only.
Intimation filed under Regulation 30(6) of SEBI LODR Regulations 2015.

💡 No immediate action is required as this is a routine regulatory disclosure. Investors should look for any subsequent investor presentations or transcripts that may be uploaded following the conference for insights into management's outlook.

Electronics Mart India Opens New 8,190 Sq. Ft. Bajaj Electronics Store in Telangana

🟢 POSITIVE ⭐ 4/10

EXPANSION 📅 24 Jan 2026, 04:09 PM

Electronics Mart India Limited (EMIL) has announced the commencement of commercial operations for a new multi-brand retail store under the 'BAJAJ ELECTRONICS' brand. Located in Muthangi, Isnapur, Telangana, the new facility spans a total area of 8,190 square feet. This expansion, effective from January 24, 2026, is part of the company's strategy to deepen its market penetration in the Telangana region. The addition of this store is expected to contribute to the company's retail revenue growth in the current quarter.

New multi-brand store opened under the 'BAJAJ ELECTRONICS' brand on January 24, 2026
The store is located at Muthangi, Isnapur, Sanga Reddy district in Telangana
Total retail area of the new store is 8,190 square feet
Expansion strengthens the company's existing retail footprint in its core Telangana market

💡 Investors should view this as a routine but positive growth step. Monitor the company's total store count and square footage growth to assess its ability to scale and maintain regional dominance.

Electronics Mart India Opens New 5,800 Sq. Ft. Bajaj Electronics Store in Pileru, Andhra Pradesh

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 14 Jan 2026, 05:15 PM

Electronics Mart India Limited (EMIL) has officially commenced commercial operations of a new multi-brand retail store under its 'Bajaj Electronics' brand on January 14, 2026. Located in Pileru, Andhra Pradesh, the new facility spans a total area of 5,800 square feet. This opening is part of the company's strategic regional expansion to strengthen its market presence in Southern India. The addition of this store is expected to contribute to the company's retail revenue stream starting from the current quarter.

New multi-brand store launched under the 'Bajaj Electronics' brand in Pileru, Andhra Pradesh
The store covers a total retail area of approximately 5,800 square feet
Commercial operations officially commenced on January 14, 2026
Expansion aligns with the company's strategy to deepen penetration in the Andhra Pradesh market

💡 Investors should view this as a routine but positive growth step; continue to track the company's store count growth and same-store sales metrics to gauge overall performance.

EMIL Submits Quarterly Compliance Certificate Under SEBI Regulation 74(5) for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jan 2026, 04:39 PM

Electronics Mart India Limited (EMIL) has filed its compliance certificate for the quarter ended December 31, 2025, as per SEBI (Depositories and Participants) Regulations. The document, provided by KFin Technologies, confirms that all dematerialization and rematerialization requests were handled according to regulatory standards. This filing is a routine administrative requirement for listed entities to maintain transparency in shareholding records. It indicates the company is meeting its standard regulatory obligations on time.

Quarterly compliance certificate submitted for the period ending December 31, 2025
Certificate issued by Registrar and Share Transfer Agent, KFin Technologies Limited
Confirms details of dematerialized/rematerialized securities were furnished to NSE and BSE
Submission made in accordance with Regulation 74(5) of SEBI Regulations 2018

💡 This is a standard procedural update with no impact on stock fundamentals; investors should continue to monitor operational performance and upcoming earnings.

Electronics Mart India to Meet Institutional Investors on January 8, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Jan 2026, 01:49 PM

Electronics Mart India Limited (EMIL) has announced a virtual group meeting with institutional investors scheduled for January 8, 2026. The meeting is organized by Nirmal Bang Institutional Equities and will be held from 4:00 PM to 5:00 PM. The company has clarified that the discussions will be strictly based on publicly available information. Such meetings are standard practice for listed companies to engage with the analyst community and institutional shareholders.

Meeting scheduled for January 8, 2026, from 4:00 PM to 5:00 PM IST
Interaction organized by Nirmal Bang Institutional Equities (NBIE)
Format of the interaction is a virtual group meeting
Discussions will be limited to information already in the public domain
Intimation filed under Regulation 30(6) of SEBI Listing Obligations and Disclosure Requirements

💡 No immediate action is required as this is a routine investor interaction. Investors may look for any subsequent disclosures or transcripts if the company provides them to gain qualitative insights into management's outlook.

Electronics Mart India Announces Trading Window Closure for Q3 FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Dec 2025, 05:59 PM

Electronics Mart India Limited (EMIL) has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading Regulations. This closure is ahead of the declaration of the company's un-audited financial results for the third quarter ending December 31, 2025. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be communicated at a later date.

Trading window closure commences on January 1, 2026.
Closure is related to the Q3 FY 2025-26 financial results for the period ending December 31, 2025.
Restriction applies to all Designated Persons and their immediate relatives under SEBI regulations.
The window will reopen 48 hours after the official announcement of the financial results.

💡 This is a routine regulatory announcement with no direct impact on the company's valuation. Investors should monitor for the upcoming board meeting date to prepare for the Q3 earnings release.

Electronics Mart India Board Authorizes Exploration of Organic and Inorganic Growth

🔵 WATCH ⭐ 6/10

EXPANSION 📅 26 Dec 2025, 04:07 PM

Electronics Mart India Limited (EMIL) has announced that its Board of Directors passed a circular resolution on December 24, 2025, to authorize specific individuals to explore expansion opportunities. The mandate covers both organic growth and inorganic routes such as acquisitions, joint ventures, and strategic alliances in India and overseas. While no specific deal has been finalized yet, this move signals a clear intent to scale operations and diversify the company's footprint. Investors should view this as a preliminary step towards future capital allocation for growth.

Board resolution passed on December 24, 2025, to authorize expansion exploration.
Mandate includes inorganic opportunities such as acquisitions, investments, and joint ventures.
Expansion scope covers both domestic (India) and international (overseas) markets.
No specific material event or transaction has been finalized at this stage.

💡 Monitor future disclosures for specific acquisition targets or new market entries that may impact the company's debt-to-equity ratio and revenue growth. Maintain a neutral stance until concrete financial commitments are announced.

Electronics Mart India Opens New 9,100 Sq. Ft. Store in Northwest Delhi

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 17 Dec 2025, 06:11 PM

Electronics Mart India Limited (EMIL) has officially commenced commercial operations of a new multi-brand retail store in Northwest Delhi on December 17, 2025. The new outlet, branded as 'ELECTRONICS MART', spans a significant area of 9,100 square feet. This expansion is part of the company's strategic push to increase its market presence in the Delhi-NCR region. The addition of this store is expected to contribute to the company's top-line growth in the upcoming quarters.

Commencement of a new multi-brand store under the 'ELECTRONICS MART' brand on December 17, 2025.
The new retail outlet is located at Pooth Kalan Village, Northwest Delhi.
The store covers a total area of approximately 9,100 square feet.
This move strengthens EMIL's geographical footprint in the competitive North Indian market.

💡 Investors should monitor the company's ability to scale its presence in North India, as successful penetration in Delhi-NCR can drive significant revenue growth. Maintain a positive outlook on the stock given its steady physical expansion strategy.

EMIL Credit Rating: Outlook revised to Stable, Rating affirmed at IND A

🟡 NEUTRAL ⭐ 5/10

REGULATORY 📅 11 Dec 2025, 05:48 PM

India Ratings and Research (IRR) has revised the outlook on Electronics Mart India Limited's bank loan facilities to 'Stable' from 'Positive' while affirming the rating at 'IND A'. The rating applies to bank loan facilities totaling ₹8,030.65 million and ₹1,100 million. This indicates IRR's view on the company's ability to meet its financial obligations. Investors should monitor the company's performance and any further rating updates from IRR.

Outlook on bank loan facilities revised to 'Stable' from 'Positive'
Rating affirmed at 'IND A' by India Ratings and Research
Bank loan facilities rated: ₹8,030.65 million
Bank loan facilities rated: ₹1,100 million

💡 The credit rating outlook revision to Stable suggests a balanced view on EMIL's creditworthiness. Investors should review the detailed rationale behind the rating on IRR's website and monitor the company's financial performance for any impact on its credit profile.

View All EMIL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue for Q2 FY26 was INR 1,591.0 Cr, representing a 12.7% increase from INR 1,411.0 Cr in Q2 FY25. H1 FY26 revenue reached INR 3,330.4 Cr, up 2.1% from INR 3,262.1 Cr YoY. Product mix for Q2 FY26 consisted of Large Appliances at 48%, Mobiles at 38%, and Small Appliances/IT/Others at 14%. Large appliance sales were temporarily hindered by a 22-day slowdown due to GST rate anticipation.

Geographic Revenue Split

The company is the largest electronics retailer in South India, with a dominant presence in Telangana and Andhra Pradesh. The North Cluster (NCR) contributed INR 162 Cr in revenue during H1 FY26, showing aggressive scaling with 31 MBOs and 1 EBO across 5 cities. Mature stores (84 units) contributed INR 2,254 Cr in H1 FY26, while newer stores (131 units) contributed INR 933 Cr.

Profitability Margins

Gross Margin for H1 FY26 was 14.3%, a decline from 15.2% in H1 FY25, primarily due to higher discounting and a shift in sales mix toward lower-margin mobiles. PAT Margin for Q2 FY26 stood at 1.0% (INR 16.1 Cr), which includes exceptional gains. H1 FY26 PAT Margin was 1.1% (INR 38 Cr).

EBITDA Margin

EBITDA Margin for Q2 FY26 was 5.1% (INR 82 Cr) compared to 5.6% (INR 79.1 Cr) in Q2 FY25. H1 FY26 EBITDA Margin was 5.8% (INR 192 Cr). Pre-IndAS 116 EBITDA margin for H1 FY26 was 3.7%. Profitability is currently suppressed by the rapid addition of 75 stores since H1 FY24, which are yet to reach full cost absorption.

Capital Expenditure

Historical Property, Plant & Equipment (PPE) stood at INR 905.1 Cr as of March 2025, increasing to INR 987.4 Cr by September 2025. The company raised INR 500 Cr via IPO in October 2022 to fuel its cluster-based expansion strategy.

Credit Rating & Borrowing

Finance costs for H1 FY26 rose to INR 75.9 Cr from INR 51.0 Cr YoY, a 48.8% increase. This rise is attributed to higher borrowing for expansion and the impact of IndAS 116 lease accounting on a rapidly growing store network.

⚙️ Operational Drivers

Raw Materials

As a retailer, the primary cost is 'Purchases of stock in trade', which accounted for INR 2,821.5 Cr (84.7% of revenue) in H1 FY26. Key product categories include Air Conditioners, Mobiles, and Large Appliances.

Import Sources

Not disclosed; however, the company sources finished goods from global and domestic consumer durable brands operating in India.

Key Suppliers

The company maintains long-term relationships with marquee brands. The top 5 brands account for approximately 61% of total sales as of FY25, down slightly from 64.8% in FY21, indicating a diversifying supplier base.

Capacity Expansion

Current store count is 215 stores as of Q2 FY26. The company added 8 net stores in Q2 FY26 (9 gross openings minus 1 divestment). 131 stores are less than 4 years old (average age 1.9 years), representing significant 'embedded' growth as they mature.

Raw Material Costs

Purchase costs increased 1.5% YoY to INR 2,821.5 Cr in H1 FY26. Procurement is managed through strategically located logistics and warehousing facilities using IT-driven replenishment to optimize stock turns.

Manufacturing Efficiency

Not applicable as a retail entity. Efficiency is measured by 'Average Ticket Size', which was INR 22,479 in Q2 FY26, and 'Bill Cuts', which totaled 678,000 in the same period.

Logistics & Distribution

Distribution and other expenses represented 6.3% of revenue in H1 FY26. The company is focusing on technology-driven replenishment to accelerate inventory rotation.

📈 Strategic Growth

Expected Growth Rate

10-12%

Growth Strategy

Growth will be driven by the maturation of 131 'non-mature' stores which currently operate at only 3.0% EBITDA margin compared to 6.8% for mature stores. EMIL is also scaling aggressively in the NCR and Western UP markets through a cluster-based strategy to capture shifts from unorganized to organized retail.

Products & Services

Mobiles, Air Conditioners, Televisions, Refrigerators, Washing Machines, Laptops, and Small Home Appliances.

Brand Portfolio

Electronics Mart, Bajaj Electronics, IQ (divested 4 stores but remains a partner), and various Multi-Brand Outlet (MBO) formats.

New Products/Services

Expansion into newer clusters like Western UP and deepening penetration in the NCR region are expected to contribute to the low double-digit growth target.

Market Expansion

The company added 75 stores since H1 FY24. Future expansion focuses on the North Cluster (NCR) and Western UP, targeting unorganized segments.

Market Share & Ranking

Ranked as the 4th largest consumer durable and electronics retailer in India and the largest in South India.

Strategic Alliances

Maintains partnerships with leading global brands for live demos and brand-led events in MBO formats. Recently divested 4 IQ Apple stores to refocus on core multi-brand scalability.

🌍 External Factors

Industry Trends

Clear shift from unorganized to organized retail in India. The industry is seeing a rebound in demand following GST rate reductions on select categories, with strong festive season momentum noted in October.

Competitive Landscape

Competes with other large-format retailers (Reliance Digital, Croma) and unorganized local players. EMIL's advantage is its high revenue productivity in established clusters.

Competitive Moat

Moat is built on a 4-decade legacy, cluster-based dominance in South India (providing logistics and marketing leverage), and deep relationships with marquee brands that ensure access to the latest product launches.

Macro Economic Sensitivity

Highly sensitive to GST policy changes and seasonal weather patterns. The 22-day GST-related slowdown shifted the sales mix toward lower-margin IT/Mobiles, squeezing Q2 margins.

Consumer Behavior

Increasing preference for organized retail offering live demos and consultative selling. Consumers showed high price sensitivity in Q2, deferring purchases in anticipation of GST cuts.

Geopolitical Risks

Indirect exposure through global supply chain disruptions affecting brand availability and pricing of electronics.

⚖️ Regulatory & Governance

Industry Regulations

Operations are significantly impacted by GST rate classifications on consumer durables. A 22-day period of uncertainty regarding GST rates led to a significant deferment of large appliance purchases in Q2 FY26.

Taxation Policy Impact

Effective tax rate for H1 FY26 was approximately 25.3% (INR 12.8 Cr tax on INR 50.5 Cr PBT).

Legal Contingencies

The company successfully settled an insurance claim of INR 8 Cr related to a godown fire accident that occurred on May 29, 2025.

⚠️ Risk Analysis

Key Uncertainties

Seasonality risk is high; a 'bad summer' can significantly impact annual EBITDA due to poor AC sales. Rapid expansion risks include a temporary dip in ROCE (9.8% in H1 FY26) until new stores mature.

Geographic Concentration Risk

High concentration in South India, though the North Cluster expansion is mitigating this. NCR now contributes INR 162 Cr (approx. 4.8% of H1 revenue).