Any current/future capex/capital investment/strategic investment?

For FY27, Electronics Mart India Limited plans a capital investment of around INR 50 crores in real estate for expansion in Calcutta (Eastern market). Over the next 12-14 months, total acquisition in Calcutta is expected not to exceed INR 100 crores. Store additions planned for FY27 include 12-15 new stores in existing clusters (NCR, Andhra Pradesh, Telangana) and 5-7 stores in Calcutta by Q2/Q3 to capitalize on festive seasons. Average store size remains 8,000-10,000 sq ft with a capex of INR 3-4 crores per store consistent with past stores. No franchise model capex planned; all stores are co

Future growth expectations in sales/revenue/volumes?

Delhi NCR saw 19% like-to-like store sales growth in Q4, driven by both volume and value, with volume growth significant due to a smaller base. South cluster stores (Andhra Pradesh and Telangana) have higher volumes and revenues; Telangana and Andhra Pradesh together reported over INR2,000 crores revenue with high single-digit same-store sales growth (SSSG). FY27 sales in Delhi expected to improve over FY26, benefiting from a better summer season. Store additions planned: ~20 new stores in FY27, with 12-15 in existing regions (NCR, AP, Telangana) and 5-7 in new geography (Calcutta). Expansion

Future growth expectations in earnings/operating earnings/profits/EPS?

Electronics Mart India Limited reported a Q4 FY26 revenue growth of 15% and EBITDA growth of 20%, with an EBITDA margin increase to 6.7%. For FY26, revenue grew 7%, EBITDA margin was 6.1%, and same-store sales growth (SSSG) stood at 5.3%. They expect mature stores to sustain approx. 7.3% EBITDA margin; newer stores to improve from 3.1%, reaching mature store levels in next 2 years. The North cluster (NCR) aims for INR 800+ crore revenue in FY27 vs. INR 585 crore in FY26, targeting 2-4% EBITDA margins by FY28. Andhra and Telangana clusters have better than 3% EBITDA margins, with revenu

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Electronics Mart India LtdQ1 FY26Retailing

Electronics Mart India Ltd Q1 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹106P/E: 52.0Market Cap: ₹4.8K CrSector: Retailing

Management growth scorecard

Revenue

N/A

Margin

N/A

Fundraise

N/A

Order

N/A

Capex

N/A

0 of 0 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

→Delhi NCR saw 19% like-to-like store sales growth in Q4, driven by both volume and value, with volume growth significant due to a smaller base.
→South cluster stores (Andhra Pradesh and Telangana) have higher volumes and revenues; Telangana and Andhra Pradesh together reported over INR2,000 crores revenue with high single-digit same-store sales growth (SSSG).
→FY27 sales in Delhi expected to improve over FY26, benefiting from a better summer season.
→Store additions planned: ~20 new stores in FY27, with 12-15 in existing regions (NCR, AP, Telangana) and 5-7 in new geography (Calcutta).
→Expansion into new geographies such as East India (starting with Calcutta by Q2/Q3 FY27) and possibly UP with 30-70 stores planned.
→Mature stores generate higher EBITDA margins (~7%) and young stores are maturing gradually, supporting volume and revenue growth.
→Overall, growth driven by improved market share, expansion into new regions, and maturing store bases.

Margin guidance

→Electronics Mart India Limited reported a Q4 FY26 revenue growth of 15% and EBITDA growth of 20%, with an EBITDA margin increase to 6.7%.
→For FY26, revenue grew 7%, EBITDA margin was 6.1%, and same-store sales growth (SSSG) stood at 5.3%.
→They expect mature stores to sustain approx. 7.3% EBITDA margin; newer stores to improve from 3.1%, reaching mature store levels in next 2 years.
→The North cluster (NCR) aims for INR 800+ crore revenue in FY27 vs. INR 585 crore in FY26, targeting 2-4% EBITDA margins by FY28.
→Andhra and Telangana clusters have better than 3% EBITDA margins, with revenues crossing INR 1,000 crores and expected higher single-digit SSSG.
→Focus remains on cash flow and working capital efficiency to drive profitability.
→Growth expected from existing clusters and selective new geographies (e.g., Calcutta) with cautious store expansion.
→Operating leverage and mature store ramp-up will drive margin expansion and EPS growth over coming years.

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Fundraise plans

The disclosed transcript from Electronics Mart India Limited does not mention any current or planned fundraising through debt or equity. Key points regarding financial strategy include: - No specific mention of debt or equity fundraising in FY26 or FY27. - The company focuses on organic store expansion, capital allocation, and working capital management. - There is emphasis on prudent cash flow management and deploying cash flows into business growth. - No franchise model planned currently, which would otherwise provide capital efficiency. - Real estate investments, like in Calcutta, are planned but limited (INR 50-100 crores over 12-14 months). - The company prefers operating only company-owned stores and does not currently explore external capital through franchising. Hence, there is no indication of new debt or equity fundraising in the discussed period.

Order book

The provided transcript from the Electronics Mart India Limited Q4 and FY '26 Earnings Conference Call does not explicitly mention or provide details on the current or expected order book or pending orders. The discussion primarily covers topics such as: - Market expansion strategy (especially in Delhi NCR and Calcutta) - Store openings and geographic focus - Sales growth and margin outlook by region - Price trends and product mix changes - Inventory and working capital management - Customer behavior and competition insights No specific quantitative data or commentary regarding order book status or pending orders appears on the referenced pages. If you need information on order books or pending orders, it may not be included in this document or may require further sections/pages.

Capex plans

→For FY27, Electronics Mart India Limited plans a capital investment of around INR 50 crores in real estate for expansion in Calcutta (Eastern market).
→Over the next 12-14 months, total acquisition in Calcutta is expected not to exceed INR 100 crores.
→Store additions planned for FY27 include 12-15 new stores in existing clusters (NCR, Andhra Pradesh, Telangana) and 5-7 stores in Calcutta by Q2/Q3 to capitalize on festive seasons.
→Average store size remains 8,000-10,000 sq ft with a capex of INR 3-4 crores per store consistent with past stores.
→No franchise model capex planned; all stores are company-operated, maintaining control over capital and consumer experience.
→Overall strategy focuses on selective new geography expansion and optimizing supply chain and inventory with a focus on cash flow and working capital efficiency.

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