Electronics Mart India (EMIL) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 delivered record results with revenue up 39% YoY to INR 2,419 crore, EBITDA up 118% to INR 239 crore (9.9% margin), and PAT up 458% to INR 121 crore, marking the highest ever quarterly profit.

• Strong summer season drove exceptional demand for air conditioners, boosting both volume and value, and attracting new customers for future cross-category sales.

• Large appliances contributed 48% of revenue, mobile phones 39%, and same-store sales growth (SSSG) reached 34.2%, reflecting robust demand and store maturity.

• Aggressive expansion in North India is underway, following the successful South India strategy.

• Un-audited standalone and consolidated financial results for the quarter ended 30 June 2026 were approved by the Board on 7 August 2026.

Financial highlights

• Gross profit rose 65% YoY to INR 417 crore, with gross margin expanding to 17.2% from 14.6% last year.

• EBITDA margin improved to 9.9% from 6.3% YoY; mature stores achieved 11.2% EBITDA margin, non-mature stores improved to 8.1%.

• Working capital days reduced to 42 from 73, and working capital borrowings dropped to INR 97 crore from INR 658 crore.

• Standalone and consolidated revenue for Q1 FY27 was ₹24,189.50 million, up from ₹17,393.90 million in Q1 FY26.

• Standalone profit for the period was ₹1,206.25 million, compared to ₹397.37 million in Q1 FY26.

Outlook and guidance

• FY 2027 revenue growth guidance set at 18%-20%, with gross margin expected above 15% (15%-15.5%).

• EBITDA margin for the year expected in the 7.5%-8% range.

• Expansion into West Bengal planned, with 5 stores operational by Diwali and 10-12 by March 2027; 25-30 new stores targeted overall for the year.

• Profitability expected to improve as more stores mature and operating leverage increases.

• The company continues to monitor regulatory changes, especially regarding the New Labour Code, and will evaluate impacts on employee benefits as needed.