Electronics Mart India FY26 Results: Revenue up 6.7% to ₹7,183 crore
- Revenue from operations rose 6.7% YoY to ₹7,183.3 crore in FY26
- Profit after tax declined to ₹107.1 crore from ₹160.5 crore in FY25
- Net operating cash flow surged to ₹443.7 crore from ₹175.8 crore
- Store network expanded by 23 net additions to reach 223 stores
- EBITDA margin stood at 6.1% with reported EBITDA of ₹438.2 crore
*this image is generated using AI for illustrative purposes only.
Electronics Mart India Limited reported a 6.7% year-on-year increase in revenue from operations for FY26, reaching ₹7,183.3 crore. The company expanded its retail network to 223 stores across 95 cities during the fiscal year.
Profit after tax declined to ₹107.1 crore in FY26 from ₹160.5 crore in the previous year. The company attributed this variance partly to exceptional items related to IQ store transfers and labour code adjustments. EBITDA stood at ₹438.2 crore, reflecting a margin of 6.1%.
Operational Highlights
The company added 23 net new stores during FY26, bringing the total count to 223 outlets. This expansion was concentrated in Telangana, Andhra Pradesh, and the National Capital Region (NCR). The CEO’s presentation highlighted that Delhi-NCR witnessed the strongest same-store sales growth at 22.8%, followed by Andhra Pradesh and Telangana up-country regions.
Key operational metrics for FY26 include:
- Total Stores: 223 (215 MBOs + 8 EBOs)
- Retail Space: 1.94 million sq. ft.
- Transactions: 2.974 million (+10.4% YoY)
- Average Ticket Size: ₹23,125
Financial Performance
The following table summarizes the key financial figures disclosed during the Annual General Meeting:
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Revenue from Operations | ₹7,183.3 crore | N/A | +6.7% YoY |
| Gross Profit | ₹1,037.1 crore | ₹997.5 crore | +4.0% |
| Reported EBITDA | ₹438.2 crore | N/A | Margin: 6.1% |
| Profit After Tax | ₹107.1 crore | ₹160.5 crore | -33.3% |
| Net Operating Cash Flow | ₹443.7 crore | ₹175.8 crore | +152.4% |
What the Numbers Show
A divergence exists between top-line growth and bottom-line performance. While revenue grew by 6.7%, profit after tax contracted by approximately 33%. However, cash generation improved significantly, with net operating cash flow rising from ₹175.8 crore in FY25 to ₹443.7 crore in FY26. This substantial increase in cash flow alongside declining profits suggests strong working capital management and efficient inventory turnover, despite the pressure on net margins due to exceptional items.
Strategic Outlook
Management outlined priorities for FY27 focused on converting scale into sustainable value. Key initiatives include enhancing working-capital efficiency, disciplined expansion into West Bengal, and improving customer experience through technology-led replenishment. The company aims to deepen existing clusters rather than pursuing aggressive store-count growth, emphasizing store productivity and operating leverage.
Historical Stock Returns for Electronics Mart
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.85% | +8.19% | +9.12% | +124.44% | +28.99% | +136.95% |
How will the non-recurring impact of IQ store transfers and labour code adjustments normalize in FY27, and what is the expected trajectory for EBITDA margin recovery?
Given the 152% surge in operating cash flow, how does Electronics Mart plan to allocate this capital between debt reduction, shareholder returns, or funding the expansion into West Bengal?
What specific technology-led replenishment initiatives are being implemented to improve inventory turnover and sustain the high same-store sales growth observed in Delhi-NCR?
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