Electronics Mart India (EMIL) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 saw robust festive-led growth, aided by a GST rate cut and strong demand for large appliances, with festival-to-festival sales up 25%.

• Achieved Q3 FY26 revenue of Rs. 1,940 Cr, up 7% year-over-year, and 9M FY26 revenue of Rs. 5,270 Cr, up 4% year-over-year.

• PAT for Q3 FY26 was Rs. 30 Cr (1.5% margin), impacted by a one-time exceptional charge due to new Labour Codes; 9M FY26 PAT was Rs. 67 Cr (1.3% margin).

• Continued aggressive store expansion, with 19 net new stores in 9M FY26, reaching over 200 stores across 94 cities.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025 were approved by the Board on 9 February 2026.

Financial highlights

• Q3 FY26 revenue was INR 1,939.7 crore, up 8% year-over-year; EBITDA grew 17% to INR 119 crore, with a margin of 6.1%.

• Nine-month FY26 revenue reached INR 5,270 crore, up 4% year-over-year; EBITDA was INR 311 crore, margin at 5.9%.

• Standalone net profit for Q3 FY26 was ₹296.51 million, up from ₹161.46 million in Q3 FY25.

• Gross margin held steady at 14.3% for both Q3 and 9M FY26.

• Earnings per share (basic and diluted) for Q3 FY26 stood at ₹0.77, compared to ₹0.42 in Q3 FY25.

Outlook and guidance

• Management expects margins to normalize as new stores mature, with further expansion planned in NCR, AP, Telangana, and potentially Odisha and Western UP.

• Optimism for upcoming summer season, with expectations of higher NBFC approval rates and supportive macro factors like GST and income tax cuts.

• Focus on inventory optimization and technology-driven replenishment to strengthen cash flows.

• Any further impact from the New Labour Code will be accounted for in the period in which the corresponding rules are notified.