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Electronics Mart India Q2 FY27 results: net profit up 148.7% to ₹40.16 crore, revenue up 19.4%
Electronics Mart India Limited reported standalone revenue of ₹1,900 crore and a net profit of ₹40.16 crore for Q2 FY27. Revenue rose 19.4% from the year-ago quarter, while EBITDA increased 59.9% and the EBITDA margin improved to 6.9%; against Q1 FY27, revenue, EBITDA and net profit were lower.
Key points
- Q2 FY27 standalone revenue was ₹1,900 crore, up 19.4% from Q2 FY26 but down 21.5% from Q1 FY27.
- EBITDA was ₹130.55 crore, up 59.9% from Q2 FY26 and down 45.4% from Q1 FY27; the margin was 6.9%.
- Net profit was ₹40.16 crore, compared with ₹16.15 crore in Q2 FY26 and ₹120.62 crore in Q1 FY27; basic EPS was ₹1.04.
- H1 FY27 revenue was ₹4,318.69 crore, up 29.7% from H1 FY26, while net profit was ₹160.79 crore, up 325.5%.
- The stock fell 2.4% on the reaction day, underperforming the Diversified Retail industry median by 2.9 percentage points.
How did Electronics Mart India perform in Q2 FY27?
Electronics Mart India reported standalone revenue of ₹1,900 crore for Q2 FY27, against ₹1,591 crore in Q2 FY26 and ₹2,419 crore in Q1 FY27. The year-on-year increase was 19.4%, while the sequential decline was 21.5%. Total income was ₹1,901.57 crore, and there was no exceptional item in the quarter.
EBITDA was ₹130.55 crore, up 59.9% from ₹81.64 crore in Q2 FY26 but down 45.4% from ₹238.94 crore in Q1 FY27. The EBITDA margin rose 1.8 percentage points year on year to 6.9% and fell 3.0 percentage points from 9.9% in the previous quarter.
Profit before tax was ₹52.81 crore, against ₹21.63 crore in Q2 FY26 and ₹162.06 crore in Q1 FY27. After tax of ₹12.65 crore, net profit was ₹40.16 crore, compared with ₹16.15 crore and ₹120.62 crore respectively; basic EPS was ₹1.04. The figures above are standalone, and the company also filed consolidated results.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,900 | 2,419 | 1,591 | +19.4% | −21.5% |
| Other income | 1.83 | 1.94 | 1.66 | +10.2% | −5.7% |
| Total expenses | 1,849 | 2,259 | 1,586 | +16.6% | −18.2% |
| EBITDA | 130.55 | 238.94 | 81.64 | +59.9% | −45.4% |
| EBITDA margin | 6.9% | 9.9% | 5.1% | +1.8 pp | −3.0 pp |
| Profit before tax | 52.81 | 162.06 | 21.63 | +144.2% | −67.4% |
| Tax | 12.65 | 41.43 | 5.49 | +130.4% | −69.5% |
| Net profit | 40.16 | 120.62 | 16.15 | +148.7% | −66.7% |
| EPS (₹) | 1.04 | 3.14 | 0.42 | +147.6% | −66.9% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Electronics Mart India's costs and profit?
Against Q2 FY26, total expenses rose 16.6% to ₹1,849 crore. Employee cost increased ₹7.11 crore to ₹46.31 crore, depreciation rose ₹4.95 crore to ₹43.31 crore, and other expenses rose ₹12.98 crore to ₹115.97 crore. Finance costs fell ₹2.25 crore to ₹36.26 crore.
Other income increased ₹0.17 crore to ₹1.83 crore. Q2 FY26 included an exceptional gain of ₹15.19 crore from an insurance settlement for the godown fire and the sale of four IQ stores, while Q2 FY27 had no exceptional item. Tax expense increased ₹7.16 crore to ₹12.65 crore.
The filing did not state reasons for the changes in the cost lines. The figures show higher employee cost, depreciation, other expenses and tax, partly offset by lower finance costs and the absence of an exceptional gain in Q2 FY27.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 46.31 | 39.20 | +7.11 | +18.1% |
| Finance costs | 36.26 | 38.51 | −2.25 | −5.8% |
| Depreciation | 43.31 | 38.36 | +4.95 | +12.9% |
| Other expenses | 115.97 | 102.99 | +12.98 | +12.6% |
| Total expenses | 1,849 | 1,586 | +262.56 | +16.6% |
| Other income | 1.83 | 1.66 | +0.17 | +10.2% |
| Tax | 12.65 | 5.49 | +7.16 | +130.4% |
| Exceptional items | none | +15.19 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹4,318.69 crore, up 29.7% from ₹3,330.36 crore in H1 FY26. Total income was ₹4,322.46 crore, up 29.7% from ₹3,333.29 crore, while profit before tax rose 325.0% to ₹214.87 crore.
Net profit for H1 FY27 was ₹160.79 crore, compared with ₹37.79 crore in H1 FY26, an increase of 325.5%. Basic EPS increased from ₹0.98 to ₹4.18. The investor presentation stated that H1 FY26 included a net exceptional gain of ₹7.02 crore.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 4,319 | 3,330 | +29.7% |
| Profit before tax | 214.87 | 50.56 | +325.0% |
| Net profit | 160.79 | 37.79 | +325.5% |
| EPS (₹) | 4.18 | 0.98 | +326.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹4,068.56 crore, compared with ₹3,795.47 crore at 31 March 2026. Total equity rose to ₹1,787.21 crore from ₹1,626.30 crore, while borrowings fell to ₹697.59 crore from ₹891.12 crore.
Cash and cash equivalents were ₹22.14 crore at 30 September 2026, compared with ₹47.98 crore at 31 March 2026. Inventories increased to ₹1,356.61 crore from ₹1,240.67 crore, trade receivables fell to ₹45.79 crore from ₹55.32 crore, and trade payables rose to ₹243.33 crore from ₹65.99 crore.
Net cash from operating activities in H1 FY27 was ₹383.63 crore, compared with ₹271.49 crore in H1 FY26. Investing cash flow was negative ₹117.73 crore against negative ₹83.50 crore, and financing cash flow was negative ₹291.74 crore against negative ₹193.41 crore. Capital expenditure was ₹89.52 crore, compared with ₹81.97 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,069 | 3,795 |
| Total equity | 1,787 | 1,626 |
| Borrowings | 697.59 | 891.12 |
| Cash and equivalents | 22.14 | 47.98 |
| Inventories | 1,357 | 1,241 |
| Trade receivables | 45.79 | 55.32 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 383.63 | 271.49 |
| Cash from investing | −117.73 | −83.50 |
| Cash from financing | −291.74 | −193.41 |
| Capital expenditure | 89.52 | 81.97 |
Source: Company's results filing (XBRL).
How has Electronics Mart India done over the last 8 quarters?
Revenue peaked at ₹2,418.95 crore in Q1 FY27 and was ₹1,899.74 crore in Q2 FY27; over the earlier sequence, it bottomed at ₹1,590.97 crore in Q2 FY26. Revenue has risen year on year in each of the last five quarters, but the latest quarter was lower than the preceding quarter.
Net profit peaked at ₹120.62 crore in Q1 FY27 and was ₹40.16 crore in Q2 FY27, compared with a low of ₹16.15 crore in Q2 FY26. The EBITDA margin peaked at 9.9% in Q1 FY27 and eased to 6.9% in Q2 FY27; profit has risen year on year in each of the last three quarters.
What else did the company announce?
The company’s 24 October 2026 BSE filing announced that the board would meet on 5 November 2026 to approve the un-audited standalone and consolidated results for the second quarter and first half ended 30 September 2026. It also stated that the trading window for designated persons and insiders was closed from 1 October 2026 and would reopen 48 hours after the results were declared.
The same-day investor presentation filing stated that the presentation for the second quarter and first half ended 30 September 2026 was held on 5 November 2026 and uploaded to the company website. No dividend, fund raise or appointment was described in the provided filings.
What did Electronics Mart India's management say?
Management said same-store sales rose 16.5% in Q2 FY27 and 27.5% in H1 FY27. The company expects North-cluster store productivity and margins to align with South-cluster benchmarks as scale builds, and expects improved throughput and higher revenue productivity as stores mature and stabilise.
Management expects fixed-cost absorption to lead to gradual normalisation of EBITDA margins over time. The company said it was expanding into newer clusters such as Western UP while consolidating its presence in the NCR, and had plans to enter high-potential markets such as West Bengal.
Management said it was improving stock turns, reducing excess inventory and enhancing the cash conversion cycle. The presentation identified lower North-cluster profitability and the operating leverage gap between mature and non-mature stores as execution issues; H1 store-level EBITDA margin was 3.4% in the North cluster and 9.3% in the South cluster.
How did Electronics Mart India shares react?
After the filing appeared, the stock was down 1.8% after five minutes, down 5.6% after 15 minutes and down 3.4% after 30 minutes. It closed the reaction day down 2.4% from the pre-results close of ₹159.40. The Diversified Retail industry median rose 0.6%, so Electronics Mart India underperformed by 2.9 percentage points.
Earlier reaction-day moves were positive 12.9% on 7 August 2026, positive 2.3% on 22 May 2026 and positive 14.3% on 9 February 2026. The preceding three reaction days were negative 3.2% on 10 November 2025, negative 3.6% on 5 August 2025 and negative 2.7% on 20 May 2025.
| After the filing | Stock | Diversified Retail median |
|---|---|---|
| 5 minutes | −1.8% | |
| 15 minutes | −5.6% | |
| 30 minutes | −3.4% | |
| Reaction day | −2.4% | +0.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 7 August 2026 | +12.9% |
| 22 May 2026 | +2.3% |
| 9 February 2026 | +14.3% |
| 10 November 2025 | −3.2% |
| 5 August 2025 | −3.6% |
| 20 May 2025 | −2.7% |
| 10 February 2025 | −8.4% |
| 11 November 2024 | −2.6% |
Source: MarketPing price-reaction measurement.
How did other Diversified Retail companies do?
Seven other Diversified Retail companies were compared for the quarter. Their median revenue growth was 14.0%, compared with Electronics Mart India’s 19.4% growth in Q2 FY27; six peers grew slower than the company and one peer grew faster.
Of the six peers for which profit was compared, three reported higher profit. The peer data was available as of 5 November 2026.
| Electronics Mart India revenue growth (YoY) | +19.4% |
|---|---|
| Median of 7 other Diversified Retail companies | +14.0% |
| Companies with slower revenue growth than Electronics Mart India | 6 of 7 |
| Companies with faster revenue growth than Electronics Mart India | 1 of 7 |
| Companies whose net profit rose | 3 of 6 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Electronics Mart India's revenue in Q2 FY27?
Revenue from operations was ₹1,900 crore, up 19.4% from ₹1,591 crore in Q2 FY26 (standalone).
Did Electronics Mart India make a profit in Q2 FY27?
Yes. Net profit was ₹40.16 crore, against a net profit of ₹16.15 crore in Q2 FY26.
What was Electronics Mart India's EPS in Q2 FY27?
Basic earnings per share were ₹1.04, against ₹0.42 in Q2 FY26.
How did Electronics Mart India shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.4% from the previous close; the median Diversified Retail stock moved +0.6%.
When did Electronics Mart India announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for The Approval Of Un-Audited Financial Results For The Second Quarter And First Half Year Ended 30Th September 2026. (BSE, 24 October 2026) · PDF
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
- The investor presentation (5 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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