India · Delayed Price · Currency is INR Electronics Mart India Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY 2026 delivered double-digit revenue and SSSG growth, with EBITDA margin improvement and strong performance in both South and North clusters. FY 2026 saw record cash flow, robust store expansion, and plans for further growth in existing and new geographies like Kolkata.
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Q3 FY26 delivered 8% revenue growth and improved margins, driven by festive demand and GST cuts. Expansion continues with a focus on new geographies, while maturing stores are expected to boost profitability. Premiumization and strong consumer finance support underpin a positive outlook.
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Q2 and H1 FY26 saw strong sales recovery post-GST cut, but margins were impacted by rapid store expansion and discounting. Mature stores outperformed new ones, and large appliances and mobiles led revenue. Double-digit growth and margin normalization are expected as new stores mature.
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Revenue and margins were impacted by unseasonal rainfall, but profitability was maintained through diversification and agile execution. Management expects double-digit growth and margin improvement as new stores mature and inventory normalizes.
Fiscal Year 2025
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Revenue grew 11% in FY25 to INR 6,965 crores, with EBITDA margin at 6.6% and PAT at INR 161 crores. Expansion added 44 stores, impacting margins, but is expected to drive future growth. Outlook remains positive with plans for 25-30 new stores and margin recovery as new stores mature.
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Revenue grew 10% year-over-year for nine months FY25, with EBITDA margin at 6.4% and PAT margin at 4.7%. Store expansion continued, and management maintained a 15% annual revenue growth guidance, expecting Q4 acceleration. Hyderabad's performance lagged, but new clusters and categories showed strong growth.
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Revenue grew 13% year-over-year in H1 FY25, with EBITDA up 5% and margins slightly lower due to expansion and weather-related demand softness. Store count reached 177, and guidance for 15%-18% annual growth and 25-30 new stores remains on track. Expansion is funded internally, with no major debt increase expected.
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Q1 FY25 saw 17.3% revenue growth and 18.3% EBITDA growth, driven by strong demand for cooling products and new store openings. SSSG was 8.6%, with large appliances leading segment growth and robust expansion planned for FY25.