Sells consumer electronics and appliances through a chain of multi-brand and exclusive-brand retail outlets, primarily in South India and the National Capital Region. Operates 223 stores under the 'Bajaj Electronics' and 'Electronics Mart' brand names — 215 multi-brand outlets and 8 exclusive-brand outlets. The South cluster spanning Hyderabad, Andhra Pradesh and Telangana is the larger base, with about 72 stores in Hyderabad alone; the NCR cluster is smaller at 35 stores but turned EBITDA-positive on a full-year basis for the first time in FY26. Product mix centres on mobile phones, large appliances such as washing machines and panel TVs, and cooling products like air conditioners. Store economics depend heavily on maturity: the 83 stores older than four years run at roughly 7.3% EBITDA margin, while the 140 newer stores sit at about 3.1%, making ramp-up of recent additions the main lever for margin expansion. Plans for FY27 include around 20 new stores, an entry into East India via Calcutta with 5-7 outlets, and a target of ₹800+ crore in NCR revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Mobile phones, Large appliances, Cooling products, Accessories and attachments. Multi-brand consumer electronics retail expansion, with margins dependent on the ramp-up of newer stores.
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 5,446 | 6,285 | 6,965 | 7,183 |
| EBITDA (ex other income) | 336 | 449 | 451 | 445 |
| margin % | 6.2 | 7.2 | 6.5 | 6.2 |
| Owners' profit | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 3.63 | 4.78 | 4.16 | 2.78 |
| ROE % · ROCE % | 10.4 · 13.4 | 13.4 · 15.5 | 10.5 · 12.5 | 6.6 · 10.3 |
| Debt / equity (x) | 0.61 | 0.52 | 0.64 | 0.55 |
| Cash from operations | 6 | 160 | 176 | 444 |
| Capex | (244) | (162) | (324) | (124) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,386 | 1,885 | 1,719 | 1,739 | 1,591 | 1,940 | 1,913 | 2,419 |
| Profit before tax | 33 | 42 | 44 | 29 | 22 | 39 | 53 | 162 |
| Net profit | 25 | 32 | 31 | 22 | 16 | 30 | 40 | 121 |
| EPS (₹) | 0.64 | 0.82 | 0.82 | 0.56 | 0.42 | 0.77 | 1.03 | 3.14 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| AVENUE SUPERMARTS LIMITED | 2,40,550 | 78.5 | 9.83 | 46.1 | 12.1 | 15.9 | 23.3 | 8.1 |
| VISHAL MEGA MART LIMITED | 47,563 | 53.3 | 6.42 | 23.9 | 11.3 | 12.7 | — | 15.5 |
| ELECTRONICS MART IND LTD ◆ | 7,272 | 35.3 | 4.47 | 17.9 | 6.6 | 5.0 | — | 10.0 |
| VMART RETAIL LTD | 6,405 | 46.3 | 6.73 | — | 13.0 | 9.8 | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · EMIL dispatches web link of Integrated Annual Report FY 2025-26 to Members | compliance | minimal | — | — |
| 4 Sept 2026 · Electronics Mart to attend Axis Capital investor conference on Sep 10 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Electronics Mart to hold investor meetings on 09 Sept 2026 | investor communications | low | — | — |
| 2 Sept 2026 · Newspaper publication of 8th AGM notice | compliance | minimal | — | — |
| 1 Sept 2026 · EMIL files Integrated Annual Report for FY 2025-26, AGM on Sep 25, 2026 | board shareholder meetings | medium | — | — |
| 1 Sept 2026 · AGM on Sept 25, 2026; borrow limit hike to Rs 3,000 Cr proposed | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Electronics Mart to close Hyderabad MBO store effective 31 Aug 2026 | capex operations | medium | — | — |
| 31 Aug 2026 · Notice of 8th AGM on 25 Sept 2026 via video conferencing | compliance | minimal | — | — |
| 31 Aug 2026 · Notice of 8th Annual General Meeting on 25 September 2026 | compliance | minimal | — | — |
| 29 Aug 2026 · Board approves FY26 Annual Report, calls 8th AGM on Sept 25, 2026 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 15.0 |
| SHOPPERS STOP LIMITED | 4,120 | — | 14.16 | 5.6 | (12.4) | (1.7) | 23.6 | 14.9 |
| PATEL RETAIL LIMITED | 703 | 16.2 | 1.93 | — | 10.7 | 12.8 | — | 6.4 |
| SPENCER S RETAIL LIMITED | 256 | — | — | 95.4 | 27.3 | (135.8) | (5.8) | 2.0 |
| JAY AMBE SUPERMARKETS LIMITED | 149 | 15.6 | — | — | — | 15.1 | — | — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 35.3 | 32.7 | 6 of 9 | 38% |
| P/B | 4.5 | 4.5 | 5 of 9 | 50% |
| ROCE | 5.0 | 7.4 | 7 of 12 | 46% |
| ROE | 6.6 | 11.0 | 7 of 10 | 33% |
| Debt / Equity | 0.6 | 0.2 | 9 of 10 | 11% |
| EBITDA margin | 10.0 | 12.4 | 6 of 10 | 44% |
| Revenue growth | 39.1 | 16.8 | 2 of 10 | 89% |
| Profit growth | 458.1 | 31.5 | 2 of 10 | 89% |
| Market cap | 7272 | 480 | 3 of 12 | 82% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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