Electronics Mart India Ltd
Incorporated in 1980, Electronics Mart India Limited is the 4th largest consumer durable and electronics retailer in India. The company offers a diversified range of products with a focus on large appliances (air conditioners, televisions, washing machines, and refrigerators), mobiles and small appliances, IT, and others. The company's offering includes more than 6,000 SKUs (stock keeping units) across product categories from more than 70 consumer durable and electronic brands.[1]
- Market Cap ₹ 5,213 Cr.
- Current Price ₹ 136
- High / Low ₹ 186 / 110
- Stock P/E 57.2
- Book Value ₹ 40.4
- Dividend Yield 0.00 %
- ROCE 10.4 %
- ROE 11.1 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.42 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 12.9% over last 3 years.
- Company might be capitalizing the interest cost
- Promoter holding has decreased over last 3 years: -12.8%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 3,172 | 3,202 | 4,349 | 5,446 | 6,285 | 6,965 | 6,879 | |
| 2,945 | 2,998 | 4,057 | 5,110 | 5,836 | 6,514 | 6,481 | |
| Operating Profit | 228 | 204 | 292 | 336 | 449 | 451 | 398 |
| OPM % | 7% | 6% | 7% | 6% | 7% | 6% | 6% |
| -1 | 5 | 4 | 11 | 10 | 8 | 15 | |
| Interest | 63 | 72 | 85 | 99 | 108 | 118 | 142 |
| Depreciation | 51 | 58 | 71 | 85 | 106 | 127 | 140 |
| Profit before tax | 112 | 80 | 140 | 163 | 246 | 215 | 130 |
| Tax % | 27% | 26% | 26% | 25% | 25% | 26% | |
| 82 | 59 | 104 | 123 | 184 | 160 | 96 | |
| EPS in Rs | 2.72 | 1.95 | 3.46 | 3.19 | 4.78 | 4.16 | 2.49 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 17% |
| TTM: | 5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 16% |
| TTM: | -51% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 15% |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 13% |
| Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 300 | 300 | 300 | 385 | 385 | 385 | 385 |
| Reserves | 133 | 192 | 297 | 800 | 985 | 1,146 | 1,172 |
| 872 | 968 | 1,149 | 1,432 | 1,570 | 1,976 | 1,963 | |
| 43 | 64 | 87 | 78 | 120 | 190 | 159 | |
| Total Liabilities | 1,348 | 1,524 | 1,832 | 2,694 | 3,059 | 3,697 | 3,678 |
| 223 | 674 | 785 | 1,142 | 1,356 | 1,758 | 1,903 | |
| CWIP | 351 | 2 | 24 | 14 | 45 | 30 | 15 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 774 | 848 | 1,023 | 1,538 | 1,658 | 1,908 | 1,761 | |
| Total Assets | 1,348 | 1,524 | 1,832 | 2,694 | 3,059 | 3,697 | 3,678 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 36 | 64 | 116 | -1 | 160 | 176 | |
| -70 | -60 | -68 | -301 | -117 | -332 | |
| 71 | -56 | -49 | 470 | -161 | 101 | |
| Net Cash Flow | 36 | -52 | -1 | 169 | -118 | -55 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 10 | 11 | 10 | 9 | 11 | 9 |
| Inventory Days | 54 | 63 | 60 | 60 | 66 | 76 |
| Days Payable | 1 | 1 | 3 | 2 | 3 | 6 |
| Cash Conversion Cycle | 63 | 73 | 66 | 67 | 73 | 79 |
| Working Capital Days | 14 | 23 | 22 | 31 | 39 | 37 |
| ROCE % | 11% | 14% | 12% | 13% | 10% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
23h - Electronics Mart India Limited submitted the soft copies of the Newspaper Advertisement published on 11th November 2025 pertaining to the unaudited financial results for the …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1d - Audio recording of Nov 10, 2025 earnings call for Q2/H1 ended Sep 30, 2025 available online.
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Announcement under Regulation 30 (LODR)-Investor Presentation
1d - Company has submitted the Investor presentation for the second quarter and the first half-year ended on 30th September 2025.
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Board Meeting Outcome for Unaudited Financial Results For The Second Quarter And First Half Year Ended 30Th September 2025
1d - Unaudited Q2/H1 results to 30 Sep 2025; ₹75.27m insurance settlement; ₹380m IQ stores sale.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
5 Nov - Officials to attend Anand Rathi investor conference at Taj Santacruz on 13 Nov 2025, 10:00-17:00.
Annual reports
Concalls
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Nov 2025TranscriptNotesPPT
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT
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Aug 2024TranscriptNotesPPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Nov 2023TranscriptNotesPPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT
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Feb 2023Transcript PPT
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Feb 2023TranscriptNotesPPT
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Nov 2022Transcript PPT
Market Position[1]
Emart is the largest consumer durables and electronics retailer in the Southern region, particularly dominant in Telangana and Andhra Pradesh, and ranks as the 4th largest retailer in India by revenue, offering consumer electronics, appliances, and IT products from 100+ brands.[2]