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Buy Electronics Mart India Ltd; target of Rs 86: LKP Research

LKP Research is bullish on Electronics Mart India Ltd has recommended buy rating on the stock with a target price of Rs 86 in its research report dated March 27, 2023.

March 28, 2023 / 15:13 IST
Buy

Buy

 
 
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LKP Research's research report on Electronics Mart India Ltd

Electronics Mart India Limited (“EMIL”) is the 4th largest electronic retailer with a diversified product offering (6000 SKUs across product categories from more than 70 consumer durable and electronics brand) and is strongly placed in the southern region (AP and Telengana). EMIL has been increasing its market presence and geographic base with cluster-based expansion while its strategically located logistics & warehousing facilities provides swift turnaround. Its expansions in Delhi/NCR offers strong growth potential (opportunity size of ₹220bn). Management focus remains on premium products and strong product depth with only top brands in various categories. Further its strategy remains clear that no private labels shall be added to avoid discounting and inventory issues while only focussing on retailing top brands as it has strong relationships with top brands in all electronics categories.

Outlook

Valuations are reasonable compared to competition and currently trades at 15.5x FY25 PE and 6.8x EV/ EBITDA. We Initiate with a Buy rating and PT of ₹86.

For all recommendations report, click here

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Electronics Mart India - 28 -03 - 2023 - lkp

Broker Research
first published: Mar 28, 2023 03:13 pm

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