Electronics Mart India (EMIL) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 revenue reached INR 1,739 crores (₹17,393.90 million), with EBITDA at INR 110 crores and EBITDA margin of 6.3%, reflecting subdued demand due to unseasonal rainfall and a significant decline in air conditioner and cooler sales.

• PAT stood at INR 22 crores (₹216.46 million), with a PAT margin of 1.2%, impacted by an exceptional inventory loss of INR 8 crores (₹81.72 million) from a fire incident.

• Despite weather challenges, profitability was maintained through a diversified product portfolio and agile inventory management.

• 8 new stores were opened in Q1 FY26, expanding the network to 208 stores across 86 cities, with 44 new stores added in the last 12 months.

• Focus remains on improving per-store economics and leveraging upcoming festive and technology upgrade cycles.

Financial highlights

• Revenue for Q1 FY26: INR 1,739 crores (₹17,393.90 million); EBITDA: INR 110 crores; EBITDA margin: 6.3%.

• Gross profit was INR 253 crores; gross margin at 14.6%, down from 15.6% in Q1 FY25.

• PAT: INR 22 crores (₹216.46 million); PAT before exceptional items: INR 30 crores.

• Like-for-like/same store sales growth: -18% year-over-year.

• Working capital days: 60–80; cash flow from operations: INR 393–510 crores.

Outlook and guidance

• Expecting strong double-digit revenue growth for the remainder of FY26, targeting 15%+ for the full year.

• Anticipates margin improvement as new stores mature and fixed cost absorption improves.

• Plans to open 25–30 new stores in FY26, focusing on both existing and emerging markets.

• Expansion into new clusters like Western UP and consolidation in NCR are expected to provide significant growth headroom.

• No explicit forward-looking guidance was provided in the statutory results.