Electronics Mart India Limited (EMIL) released its Investor Presentation for the period ending December 31, 2025, covering Q3 and 9M FY26 performance. Key highlights include ₹1,940 Crores in Q3 Revenue from Operations and a 2.5% Same Store Sales Growth (SSSG) for the quarter. The company reported a Q3 PAT of ₹30 Crores. EMIL continues its aggressive expansion, focusing on cluster-based strategy, particularly in new geographies like Western UP, while mature South cluster stores maintain strong margins.
Q3 & 9M FY26 Performance Snapshot
Electronics Mart India Limited (EMIL) has shared its business and financial performance for the Third Quarter (Q3) and Nine Months (9M) ending December 31, 2025. The presentation was scheduled for release on February 9, 2026.
Q3 FY26 Financial Summary
The company delivered robust operational figures in Q3 FY26:
- Revenue from Operations: ₹1,940 Crores
- Gross Profit: ₹278 Crores
- EBITDA: ₹119 Crores with an EBITDA Margin of 6.1%
- Profit After Tax (PAT): ₹30 Crores* (PAT Margin: 1.5%*)
*Note: Q3 PAT and PAT Margin include a one-time exceptional charge related to the adoption of new Labour Codes.
Operational Metrics (Q3 FY26)
Operational momentum showed healthy metrics:
- Same Store Sales Growth (SSSG): 2.5%
- Net Store Opening: 4
- Bill Cuts: 789,000 (789 in ‘000s)
- Average Ticket Size: ₹23,616
The Product Mix saw Mobiles at 42%, Large Appliances at 44%, and Small Appliances, IT & Others at 14%.
9M FY26 Financial Summary
For the first nine months of FY26, EMIL achieved:
- Revenue from Operations: ₹5,270 Crores
- Gross Profit: ₹755 Crores
- EBITDA: ₹311 Crores (EBITDA Margin: 5.9%)
- Profit After Tax (PAT): ₹67 Crores* (PAT Margin: 1.3%*)
The 9M SSSG was 0.2%, and the company opened 19 net new stores. Average ticket size stood at ₹23,066.
Cluster Performance Analysis
The presentation highlighted differentiated performance between the clusters:
- South Cluster (Core Market): Revenue grew by +6% in Q3 FY26 over Q3 FY25, reaching ₹1,697 Crores. The 9M FY26 EBITDA Margin for the South Cluster was strong at 6.2%.
- North Cluster (Expansion): Revenue showed significant year-over-year growth of +30% in Q3 FY26, reaching ₹166 Crores, following an aggressive scaling strategy since 2022. The 9M FY26 EBITDA Margin for the North Cluster was 0.5%, with expectations for alignment with South cluster benchmarks as scale builds.
Geographical Revenue Breakdown (Q3 FY26)
Specific cluster growth rates for Q3 FY26 were notable:
- Delhi NCR: Revenue grew by +30% to ₹164 Crores, with SSSG of 7.1%.
- Andhra Pradesh: Revenue grew by +18% to ₹281 Crores, with SSSG of 4.9%.
- Telangana – HYD City: Revenue grew by +6% to ₹1,126 Crores, with SSSG of 3.3%.
Store Maturity and Profitability Insights
Analysis of store maturity across 200+ stores reveals a clear path to profitability:
- Mature Stores (> 4 Years Old): Account for 83 stores, generating ₹3,523 Crores in 9M revenue with an EBITDA Margin of 6.9%.
- Non-Mature Stores (< 4 Years Old): Constitute 136 stores, contributing ₹1,528 Crores in 9M revenue with an EBITDA Margin of 2.7%.
The company anticipates that as the significant portion of its network matures, profitability will improve due to higher throughput and operating leverage.
Strengthening Foundations: Logistics and Strategy
EMIL continues to leverage its core strengths:
- Distribution Network: Presence in 6 states across 90+ cities, supported by 12 large, centrally located warehousing facilities.
- Brand Partnerships: Maintaining a diversified product profile with over 8,000+ SKUs and strong relationships with marquee global brands. ASP increased by +18% from FY20 to 9M FY26, reaching ₹23,066.
- Key Growth Strategies: Focus on Cashflow Generation Through Inventory Optimization, Strengthening Presence in new clusters like Western UP, and driving Operating Leverage to normalize EBITDA margins over time.
Historical Performance Review (FY25 Highlights)
The historical data for the full year FY25 showed Total Revenue reaching ₹6,731.3 Crores and PAT reaching ₹160.5 Crores, with an ROE of 10.6%.
Corporate Governance and Legacy
EMIL emphasizes its foundation built over 4 Decades of Legacy, supported by a Board of Directors including Pavan Kumar Bajaj (Chairman & Managing Director) and Karan Bajaj (CEO & WTD). The company also listed several recent awards, including ‘Revenue Champion 2024’ from Apple and ‘Top Performing Brand’ recognition from Samsung.
Source: BSE
