New Delhi: February 14, 2023: Electronics Mart India Limited, the 4th largest consumer durable and electronics retailer in India retailing under the brand’s Electronics Mart, Bajaj Electronics, Kitchen Stories, Easy Kitchens and Audio & Beyond across AP, Telangana, NCR, has announced its financial results for the third quarter and nine months ended on December 31st 2022.
Highlights for Q3 FY23 (YoY) Consolidated Financials
- Revenue from Operations stands at Rs. 1,481.7 crores as against Rs. 1,265.3 crores in Q3 FY22
- Core EBITDA reported was at Rs. 72.8 crores as compared to Rs. 77 crores in Q3 FY22
- Profit Before Tax stands at Rs. 29.6 crores as against Rs. 37.5 crores in Q3 FY22
- Profit After Tax reported was at Rs. 21.9 crores as against Rs. 27.7 crores in Q3 FY22
- EPS stands at Rs. 0.59 (Face Value Rs.10 per share)
9MFY23 Vs 9MFY22 (Consolidated)
- Revenues from operations were reported at Rs. 4,117.9 crores as compared to Rs. 3,118.7 crores in 9MFY22; up by 32%
- Core Earnings before Interest, Tax, Depreciation, and Amortization (Core EBITDA) stands Rs. 245.2 crores in 9MFY23, as against Rs. 203.2 crores in 9MFY22. The Company’s Core EBITDA margin stood at 6%.
- Profit Before Tax (PBT) stood at Rs. 117.1 crores for 9MFY23 as compared to Rs. 92.3 crore in 9MFY22. The Company’s PBT margin stood at 2.8%.
- Profit After Tax (PAT) increased to Rs. 86.7 crores in 9MFY23 as against Rs. 68.6 crores in 9MFY22. The Company’s PAT margin stood at 2.1%.
- Earnings per share (EPS) for the 9MFY23 stood at Rs. 2.68
- Other Highlights
- As on December 31, 2022, we have added 19 new stores. (18 MBOs and 1 EBO).
Commenting on the results, Mr. Karan Bajaj, Chief Executive Office, Electronics Mart India Limited, said, “Our focused expansion strategy, flexible business model, robust inventory management systems, and long-term relationship with marquee brands have helped us maintain a strong balance sheet and made us one of the fastest growing electronics retailers in the country. We are very happy with the financial performance of the company has reported 32% growth in Operational Revenue and an EBITDA growth of 21% for 9MFY23 (Y-o-Y). We have also reported growth of 26% PAT reported at Rs. 86 crores. Our Same Store Sales Growth stood at 23.5% (Y-o-Y). We aim to increase our geographical presence and with this in mind, we have opened up 12 new stores in the NCR area during the 9M FY23. We currently have 122 retail stores across 38 cities in 4 states with 1.19 Mn. Sq Ft of retail area.”