📅 EduInvesting.in | May 12, 2025
🧾 Ticker: EMIL | Sector: Retail (Consumer Electronics)
🎯 Tagline (unofficial): “No EMI? EMIL says no fridge for you.” 😎
🎬 Intro – “Fridge, AC, Washing Machine, LED TV? Sir yeh sab milega”
While online retail gets all the limelight and Flipkart ads follow you everywhere like clingy exes, Electronics Mart India Ltd. (EMIL) is out here doing God’s work — selling ACs to middle-class families in 45°C summers.
They’re India’s 4th largest electronics retailer, and unlike Vijay Sales or Sulekha listings, they’re listed and profitable.
🧾 Business Model Breakdown – Retail Therapy, But with EMIs
- 🛍️ Large Format Stores – Think Croma, but desi and aggressive with discounts
- 🏪 144 stores across Andhra, Telangana, Delhi-NCR, and now expanding to Rajasthan
- 📦 Product Categories: TVs, Washing Machines, Mobiles, Fridges, ACs – basically “Bharat ka showroom”
They don’t manufacture. They just buy in bulk, sell in showrooms, and offer killer finance schemes. Retail, the old-school way — but it works.
📊 FY24 Performance – “Bhai fridge bik raha hai. Aur kaafi achha margin pe.”
| Metric | FY24 | FY23 | YoY Growth |
|---|---|---|---|
| Revenue | ₹6,284 Cr | ₹5,131 Cr | +22.5% |
| EBITDA | ₹497 Cr | ₹411 Cr | +21% |
| Net Profit | ₹182 Cr | ₹150 Cr | +21.3% |
| EBITDA Margin | 7.9% | 8.0% | Stable |
| Store Count | 144 stores | 123 stores | +17% |
💥 “Apna washing machine bhi upgrade ho gaya. EMIL ke profits bhi.”
🚀 Why is EMIL Cooking in FY24?
- ☀️ Summer Season Demand – ACs and Coolers be flying off the shelves
- 💸 Festive & Wedding Season Sales – “Shaadi gift? TV lelo.”
- 🛒 Offline + Online Omnichannel Strategy – Flipkart deals + Store experience
- 💰 Financing Push – Bajaj Finserv tie-ups = “No cost EMI, max cost loyalty”
🧠 What Makes EMIL Special?
✔️ Organised Retail in Tier-2/Tier-3 Cities
✔️ Zero Debt – Basically “fridge kharido, but company clean ho”
✔️ Expansion Machine – 20+ new stores in FY24 alone
✔️ Vendor Power – Bulk buyers of Samsung, LG, Sony = better margins
📉 Risks – Because even refrigerators can chill your stock
- 🔄 Seasonal Revenue – 40%+ revenue comes in summer/festive spikes
- 🛍️ Thin Margins – Retail is margin-dil-darwaza, especially in electronics
- 💻 Online Competition – Amazon and Flipkart try to undercut always
- 🧮 Working Capital Stress – Inventory-heavy business, EMI recovery dependency
💰 Valuation Zone – “Is the stock worth buying, or should I buy a washing machine instead?”
| Metric | Value | Comment |
|---|---|---|
| Market Cap | ₹4,500 Cr approx | Mid-smallcap crossover |
| P/E Ratio | ~25x | Retail ke liye decent |
| ROE | 17% | Respectable for retail |
| Debt | 0 | Balance sheet = clean shaven |
💸 Compared to Aditya Vision (Bihar’s EMIL) trading at 45x, EMIL is a discount deal.
📈 Stock Price Movement
| Timeframe | Return 📈 |
|---|---|
| 1 Month | +6.5% |
| 6 Months | +20.1% |
| 1 Year | +40.5% |
| From 52W Low | +70% |
Basically, jo fridge nahi le paaye, unhone EMIL ka stock le liya.
🧠 EduInvesting Verdict – “Retail without real estate drama? Sign us up!”
A boring but solid compounder.
Growth in revenue ✔️
Clean books ✔️
Expanding stores ✔️
Profit consistency ✔️
If you want DMart-style vibes, but electronics only — this one deserves space in your portfolio. Maybe right next to your newly bought microwave.
