Please find enclosed herewith Investor presentation for the quarter and nine months ended 31st December,2025.
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Bhatia Communications & Retail, a multi-brand consumer electronics retailer with 291 stores (as of 9M FY26) across Gujarat and Maharashtra, reported revenue of Rs. 423.30 crores for 9M FY26, up 24% YoY, and Rs. 176.12 crores for Q3 FY26, up 38% YoY. EBITDA grew 21% YoY to Rs. 20.57 crores (9M) and 37% YoY to Rs. 8.04 crores (Q3), though EBITDA margins slightly compressed to 4.86% from 5.00% in the 9M period. Net profit rose 12% YoY to Rs. 12.22 crores (9M) and 37% YoY to Rs. 4.91 crores (Q3), with diluted EPS of Rs. 0.89 for 9M FY26. The company remains net debt-free with a debt-to-equity of 0.27x, strong return ratios (ROCE and ROE at 22% each), and a cash conversion cycle of just 10 days. Management highlighted continued store expansion in semi-urban Maharashtra (36 stores) as the key growth lever over the next 2-3 years.
Strong topline growth driven by store network expansion is positive for shareholders, while the slight margin compression and modest PAT margin of ~2.9% suggest limited operating leverage. The debt-free balance sheet and steady store additions in Maharashtra support the growth story, but investors should watch for margin recovery.