Event Type: Q1 FY27 Earnings Conference Call held on August 7, 2026, at 4:00 PM IST to discuss Un-Audited Financial Results for the quarter ended June 30, 2026.

Management Participants:

  • Mr. Karan Bajaj – Chief Executive Officer
  • Mr. Premchand Devarakonda – Chief Financial Officer
  • Strategy Growth Advisors – Investor Relationship Advisors

Financial Performance Highlights:

  • Revenue grew 39% YoY to ₹2,419 crores (vs. ₹1,739 crores in Q1 FY26)
  • EBITDA increased 118% to ₹239 crores at 9.9% margin (vs. ₹110 crores at 6.3%)
  • PAT surged 458% to ₹121 crores (vs. ₹22 crores)
  • Gross margin expanded to 17.2% from 14.6%
  • Same-store sales growth (SSSG) of 34.2%

Regional Performance:

  • South cluster: 40% revenue growth with 10.9% EBITDA margin
  • Andhra Pradesh: 62% revenue growth with 49.1% SSG
  • Telangana up-country: 48% growth with 40% SSG
  • Hyderabad: 34% growth with 32.3% SSG
  • North cluster: 29% revenue growth with 4.9% EBITDA margin

Store Portfolio:

  • 96 mature stores (over 4 years old) operating at 11.2% EBITDA margin
  • 131 non-mature stores (less than 4 years old) delivering 8.1% EBITDA margin

Working Capital & Cash Flow:

  • Working capital days reduced to 42 days (from 73 days in March 2026)
  • Working capital borrowings reduced to ₹97 crores (from ₹658 crores)
  • Pre-Ind AS operating cash flow: ₹631 crores
  • Post-Ind AS cash flow: ₹671 crores
  • Return on capital employed: 20.1% (TTM)
  • Return on equity: 11.9% (TTM)

Expansion Plans:

  • Entry into West Bengal market with 5 stores operational by Diwali 2026
  • Target of 10-12 stores in West Bengal by end of Q4 FY27
  • 30 stores planned for West Bengal over next 24 months
  • Capex of approximately ₹100 crores for new stores
  • Additional ₹50 crores for property acquisitions in Kolkata

FY27 Guidance:

  • Revenue growth guidance: 18-20%
  • Gross margin guidance: 15-15.5%

Additional Materials: Transcript available on company website at https://investors.electronicsmartindia.com/earning-call-transcripts-and-investorspresentation

Additional Notes Section

The document contains the full transcript of the earnings conference call with detailed Q&A session covering:

  • Category-wise performance (ACs, mobile phones, large appliances)
  • Market share gains (4-12% across different geographies)
  • Inventory management strategies
  • Expansion plans in existing clusters (NCR: 8-10 stores, South: 5 stores)
  • Payback periods: South (10-11 months), North (16-18 months)
  • Store economics: ₹2,500/sq ft capex, 10,000 sq ft average store size