Buy Electronics Mart India, target price Rs 90: LKP Securities

LKP Securities has buy call on Electronics Mart India with a target price of Rs 90. The current market price of Electronics Mart India is Rs 74.8.

Electronics Mart India., incorporated in the year 2018, is a Small Cap company (having a market cap of Rs 2864.45 Crore) operating in Retail sector.

Electronics Mart India key Products/Revenue Segments include Electrical Consumer Durables and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1333.27 Crore, down -10.20 % from last quarter Total Income of Rs 1484.76 Crore and unchanged .00 % from last year same quarter Total Income of Rs Crore. Company has reported net profit after tax of Rs 36.11 Crore in latest quarter.

The company’s top management includes Mr.Pavan Kumar Bajaj, Mr.Karan Bajaj, Ms.Astha Bajaj, Mr.Anil Rajendra Nath, Mr.Mirza Ghulam Muhammad Baig, Ms.Jyotsna Angara. Company has Walker Chandiok & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 38 Crore shares outstanding.

Investment Rationale
Considering the FY23 performance the brokerage has tweaked its estimates accordingly and remain positive ahead. The company valuations have been reasonable compared to competition.

Promoter/FII Holdings
Promoters held 77.97 per cent stake in the company as of 31-Dec-2022, while FIIs owned 3.11 per cent, DIIs 9.12 per cent.