Electronics Mart India (EMIL) Q2 24/25 earnings summary

Executive summary

• H1 FY25 revenue reached INR 3,361 crores, up 13% year-over-year, with EBITDA at INR 238 crores, a 5% increase year-over-year and EBITDA margin at 7.1%.

• Q2 FY25 revenue was INR 1,386 crores, up 6% year-over-year, but EBITDA margin declined to 6.1% from 7.4% in Q2 FY24 due to heavy rains impacting demand in key markets.

• PAT for H1 FY25 was INR 97 crores, marginally down 1% year-over-year; Q2 PAT was INR 25 crores, down 34% year-over-year.

• Store count expanded to 177 as of September 2024, with 17-18 new stores opened in H1 FY25.

• Unaudited standalone and consolidated financial results for the quarter and half-year ended 30 September 2024 were approved and released, with an unqualified limited review report from the statutory auditors.

Financial highlights

• H1 FY25 revenue grew 13% year-over-year to INR 3,361 crores; Q2 FY25 revenue up 6% year-over-year to INR 1,386 crores.

• H1 FY25 EBITDA was INR 238 crores (up 5% year-over-year); Q2 FY25 EBITDA was INR 84 crores (down from INR 97 crores in Q2 FY24).

• H1 FY25 EBITDA margin at 7.1% (down from 7.6% in H1 FY24); Q2 FY25 margin at 6.1% (down from 7.4%).

• H1 FY25 PAT at INR 97 crores (down 1% year-over-year); Q2 FY25 PAT at INR 25 crores (down 34% year-over-year).

• Basic and diluted EPS for H1 FY25 stood at ₹1.88, up from ₹1.79 in H1 FY24.

Outlook and guidance

• Confident in achieving 15%-18% full-year revenue growth, with festive and summer seasons expected to drive sales.

• Guidance to add 25-30 new stores in FY25 remains intact, with plans for expansion in NCR, Andhra Pradesh, and Telangana.

• Focus on deepening store network, modernizing stores, and investing in technology and omni-channel capabilities.

• No significant increase in debt levels anticipated despite ongoing expansion.