Electronics Mart India Limited (EMIL) has made significant corporate decisions in its recent board meeting, including the approval of its annual report and the appointment of a new secretarial auditor. The company's Board of Directors convened on August 28, 2025, to discuss and approve several key items.

Annual Report Approval

The Board reviewed and approved the company's Integrated Annual Report for the financial year 2024-25. This comprehensive report includes the Board's Report along with its annexures and the Business Responsibility and Sustainability Reporting, highlighting EMIL's commitment to transparent corporate governance and sustainable business practices.

New Secretarial Auditor Appointment

In a move to enhance its corporate compliance framework, EMIL's Board has approved the appointment of V'S S K & Associates as the company's new Secretarial Auditor. This decision, based on the recommendation of the Audit Committee, is subject to shareholder approval at the upcoming Annual General Meeting (AGM). The appointment is for a five-year term, spanning from FY 2025-2026 to FY 2029-2030.

V'S S K & Associates is a peer-reviewed practicing company secretaries firm registered with the Institute of Company Secretaries of India (ICSI). The firm boasts a team of qualified professionals offering a range of services, including management advisory, corporate taxation, statutory compliance, and audit assurance.

Annual General Meeting Announcement

The Board has set the date for EMIL's 7th Annual General Meeting, which will be held on September 25, 2025, at 12:30 p.m. In line with modern corporate practices, the AGM will be conducted via video conferencing, ensuring wider accessibility for shareholders. The company has designated September 18, 2025, as the cut-off date for determining eligible shareholders who can participate in remote e-voting and attend the AGM.

Corporate Governance and Compliance

The appointment of V'S S K & Associates as Secretarial Auditor underscores EMIL's focus on maintaining high standards of corporate governance. The firm's expertise in areas such as corporate laws, investment structuring, and regulatory compliance is expected to contribute significantly to EMIL's corporate governance framework.

These decisions reflect Electronics Mart India Limited's commitment to transparency, compliance, and shareholder engagement. As the company moves forward with these changes, stakeholders will be keenly watching how these strategic decisions impact EMIL's corporate governance and overall performance in the coming years.

Electronics Mart India Limited (EMIL) has announced the sale of its four IQ retail stores, specialized in Apple products, to Angel Teletech Pvt. Ltd. for a consideration of ₹8.00 crores. The strategic move, aimed at realigning the company's focus, involves the divestment of stores located in Telangana and Andhra Pradesh.

Transaction Details

The sale agreement, signed on August 23, 2025, includes the following stores:

• IQ Attapur, Telangana
• IQ Madhapur, Telangana
• IQ Rajahmundry, Andhra Pradesh
• IQ Kurnool, Andhra Pradesh

The transaction is expected to be completed by September 10, 2025.

Financial Impact

According to the company's disclosure:

These figures underscore the relatively minor financial impact of the divestment on EMIL's overall operations.

Strategic Rationale

EMIL cited several reasons for the disposal:

1. Strategic realignment to strengthen its own retail brands and innovative retail concepts.
2. Optimization of resources and return on investment, given the IQ stores' lesser contribution to operating profits.
3. Long-term focus on proprietary retail formats such as "Audio & Beyond," "Easy Kitchen," and "Kitchen Stories."

About the Buyer

Angel Teletech Pvt. Ltd., the acquiring company, is described as a leading Apple Authorized Reseller. The company has been operating exclusive Apple outlets across Rajasthan under the iaccord brand since 2015, with their association with Apple dating back to 2013. Currently, Angel Teletech boasts nine stores across Rajasthan.

Market Implications

This move by Electronics Mart India Limited reflects a trend in the consumer electronics retail sector where companies are reassessing their brand portfolios and focusing on proprietary formats. The sale of the IQ stores, which specialized in Apple products, to a dedicated Apple reseller like Angel Teletech, may indicate a shift towards more specialized and focused retail strategies in the tech product market.

As the consumer electronics landscape continues to evolve, EMIL's decision to concentrate on its own branded stores and innovative retail concepts could potentially lead to a more streamlined and efficient operation. The impact of this strategic shift on the company's future performance and market position will be closely watched by industry observers and investors alike.