IPO Note: Electronics Mart India Ltd By Canara Bank Securities
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Electronics Mart India Limited (“EMI”) is the 4th largest electronic retailers and is strongly placed in the southern region. The company expanded in Delhi which offers a scope for growth in terms of revenues . The company prioritizes profitability of the store before expansion and is focused on enhancing the sales volume with optimal product assortments offering value for money. This has helped it to be retailers to have one of the highest margin among peers with a decent revenue growth. Considering the emerging demographics in India backed with rising per capita income, improving power situation, multiple financing options we believe there is a scope for organized electronic retail segment to grow. Post covid there has been an increase in the demand for consumer durables as highlighted by the management. In comparison to its listed peer, the issue is available for a lower valuation. Hence, we recommend to SUBSCRIBE to the issue for listing gains and long term.
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