Electronics Mart Ind

By Praveen Paramasivam

June 15 (Reuters) - Hyderabad-based Electronics Mart India ELEO.NS is looking to diversify away from the technology hub as concerns grow that potential AI-triggered job losses could hurt consumer spending, a top executive said.

The retailer gets about 60% of its revenue from Hyderabad, which hosts offices of global companies such as JPMorgan Chase JPM.N and Eli Lilly LLY.N, and Indian IT majors Wipro WIPR.NS and Infosys INFY.NS.

Around a fifth of its stores in Hyderabad are located in neighbourhoods where the majority of the residents are software employees.

The retailer, which sells products from brands including Sony and OnePlus, has over 220 stores across six states, mostly in the southern states of Andhra Pradesh and Telangana, and entered the National Capital Region in 2022.

By comparison, billionaire Mukesh Ambani's Reliance Digital has more than 695 outlets and Tata Group's Croma about 540 stores. Privately held Vijay Sales operates more than 170 stores, according to their websites.

Electronics Mart plans to invest about 1.2 billion rupees ($12.69 million) to open 20 stores in the current financial year, including up to seven in Kolkata, where it currently has no presence, while deepening its presence in and around New Delhi.

"If there is any disturbance in the IT industry, definitely there is going to be an impact on our business," CFO Premchand Devarakonda told Reuters.

Growing AI adoption has raised concerns about job losses in the technology sector, a key driver of consumption in cities such as Hyderabad and Bengaluru.

"We need not really worry immediately," Devarakonda said, adding the expansion was aimed at "de-risking" the retailer's dependence on any one sector.

Electronics Mart plans to add 20 to 25 stores annually over the next five years, with a focus on northern markets where fragmented retail offers scope for growth.

For the current year, the company expects revenue to rise about 15%, in line with LSEG estimates, helped in part by strong demand for air conditioners in a hotter summer.

($1 = 94.5950 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Dhanya Skariachan and Nivedita Bhattacharjee)

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May 22 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• ELECTRONICS MART INDIA MARCH-QUARTER CONSOL PROFIT 397.3 MILLION RUPEES

• ELECTRONICS MART INDIA MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 19.13 BILLION RUPEES

Further company coverage: ELEO.NS

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Feb 9 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• ELECTRONICS MART INDIA DEC-QUARTER CONSOL PROFIT 296.5 MILLION RUPEES

• ELECTRONICS MART INDIA DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 19.4 BILLION RUPEES

Source text: ID:nNSE3mL0r5

Further company coverage: ELEO.NS

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** Electronics Mart ELEO.NS slips 2.3% to 129.7 rupees; set for fifth straight session of declines

** Electronics retailer posts 31% y/y fall in Q3 consol net profit; rev from ops up 6% y/y

** Co hurt by ~8% y/y growth in total expenses, which outpaced rev growth

** Says rev from Hyderabad declined on muted demand, tighter credit conditions, slowdown in real estate sector, rising inflation

** ELEO loses ~21% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of consumer electronics retailers Aditya Vision ADIV.NS and Electronics Mart India ELEO.NS up 3.12% to 475.5 rupees and 5.46% to 181.84 rupees

** Nuvama initiates coverage of both cos with "Buy"

** India's electronic retailing is very localized but it is difficult to dethrone an incumbent once it achieves critical sale- brokerage

** Both Telangana-based ELEO and Bihar-based ADIV are competitors in the same retail segment but have pursued divergent and effective growth strategies, targeting non-overlapping markets- Nuvama

** Trading vols- 1.35 mln ELEO shares changed hands as of 10:30 AM IST, 1.4x the 30-day avg

** More than 96,000 ADIV shares changed hands as of 10:30 AM, 0.8x the 30-day avg

** YTD, shares of ELEO down 10.4% and ADIV up 6.96%

(Reporting by Ananta Agarwal in Bengaluru)

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Nov 11 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• SEPT-QUARTER CONSOL NET PROFIT 245.4 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 13.86 BILLION RUPEES

Source text: ID:nBSE8wDS74

Further company coverage: ELEO.NS

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Oct 31 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• COMMENCED COMMERCIAL OPERATIONS OF A NEW MULTI-BRAND STORE

Source text: ID:nBSE2rrDWz

Further company coverage: ELEO.NS

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Oct 17 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• COMMENCED COMMERCIAL OPERATIONS OF A NEW MULTI BRAND STORE

Source text for Eikon: ID:nBSEbGzGhK

Further company coverage: ELEO.NS

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Electronics Mart India Ltd ELEO.NS:

• ELECTRONICS MART INDIA LTD- INSURANCE CLAIM BY INSURER ACCEPTED FOR 2023 FIRE ACCIDENT

• ELECTRONICS MART INDIA LTD- FINAL SETTLEMENT AT 11 MILLION RUPEES

Source text for Eikon: ID:nBSE6vYM6h

Further company coverage: ELEO.NS

** Shares of Electronics Mart ELEO.NS rise about 3.5% to 238 rupees apiece

** Rise after 30.75 mln shares, representing about 8% of the total stake of the consumer electronics products seller, change hands in three blocks, according to LSEG data

** Block deals at a premium of 0.7%-2% over last close of 230.17 rupees apiece

** ELEO has gained about 17% in 2024 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of Electronics Mart India ELEO.NS rise as much as 4.1% after Q1 results

** Consumer electronics maker reports Q1 net profit of 724.9 mln rupees ($8.6 mln), up 20.3% Y/Y

** Rev up 17.3% to 19.75 bln rupees

** Stock on track to gain for third straight day, and to end week up 5.8%

** More than 2 mln shares traded as of 2:34 p.m. IST, 3.8x their 30-day moving avg

** Stock up 11.3% YTD

($1 = 83.9160 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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April 5 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• COMMENCED COMMERCIAL OPERATIONS OF A NEW MULTI BRAND STORE

Source text for Eikon: ID:nBSEbf9lhP

Further company coverage: ELEO.NS

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Feb 23 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• COMMENCED COMMERCIAL OPERATIONS OF A NEW MULTI BRAND STORE IN NEW DELHI

Source text for Eikon: [ID:]

Further company coverage: ELEO.NS

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Feb 7 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• ELECTRONICS MART INDIA DEC-QUARTER CONSOL NET PROFIT 457.7 MILLION RUPEES VERSUS PROFIT 219 MILLION RUPEES

• ELECTRONICS MART INDIA DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 17.89 BILLION RUPEES VERSUS 14.82 BILLION RUPEES

Source text for Eikon: ID:nNSE84l9Rf

Further company coverage: ELEO.NS

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Jan 22 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• COMMENCED COMMERCIAL OPERATION OF TWO NEW MULTI BRAND STORES UNDER BRAND NAME 'BAJAJ ELECTRONICS'

Further company coverage: ELEO.NS

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Nov 16 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• UPDATE ON FIRE ACCIDENT

• INSURANCE AMOUNT CLAIMED IS ABOUT 22.8 MILLION RUPEES, WHICH IS YET TO BE ASSESSED BY INSURER

• VALUE OF STOCKS EXPOSED TO ACTUAL AMOUNT OF DAMAGE IS ABOUT 22.8 MILLION RUPEES

Source text for Eikon: ID:nNSEbBJ6LW

Further company coverage: ELEO.NS

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Nov 13 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• FIRE ACCIDENT OCCURRED AT CO'S STORE LOCATED AT SHAHALIBANDA, HYDERABAD

• THERE HAS BEEN NO LOSS OR INJURY TO HUMAN LIFE

• COMMERCIAL OPERATIONS OF ONE OF STORES IN SHAHALIBANDA, HYDERABAD WERE TEMPORARILY DISRUPTED

• STORE RESUMED ITS COMMERCIAL OPERATIONS ON NOVEMBER 13

• FIRE ACCIDENT OCCURRED DURING INTERVENING NIGHT OF 12 NOV AND 13 NOV

Source text for Eikon: ID:nNSE2NwTjm

Further company coverage: ELEO.NS

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** Shares of Electronics Mart India ELEO.NS up as much as 5% at 150.8 rupees

** Stock touches highest level since Aug. 30

** On track for a fifth consecutive session of gains, if trend holds

** About 9.6 mln shares change hands in two block deals priced between 143 rupees and 143.25 rupees apiece, as per LSEG data

** Shares trading above 50-, 100- and 200-day simple moving averages, indicating bullish growth

** More than 10 mln shares traded by 11:18 a.m. IST, 5.1x the 30-day avg

** Stock currently up 3%, pushing YTD gains to 71.8%

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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Aug 14 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• ELECTRONICS MART INDIA LTD - COMMENCED COMMERCIAL OPERATION OF NEW MULTI BRAND STORE UNDER BRAND NAME BAJAJ ELECTRONICS ON AUG 14 IN TELANGANA:

Source text for Eikon: ID:nBSE7B1G02

Further company coverage: ELEO.NS

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** Shares of Electronics Mart India ELEO.NS rise as much as 8.70% to a record high of 125.55 rupees

** The Hyderabad-headquartered consumer electronics retailer posts 48.2% Y/Y rise in consolidated net profit

** Revenue from operations up 20%; EBITDA as calculated by Reuters up 34% to 1.30 bln rupees

** Trading volume is 5.53 mln shares as of 2:31 p.m. IST, 2.3 times the 30-day avg - Refinitiv data

** Including day's gains, ELEO up 42.43% in 2023 so far compared to 7.6% rise in Nifty 50 index .NSEI

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

** Shares of Electronics Mart India Ltd ELEO.NS rise as much as 6% to 84.7 rupees, the highest since Jan. 16

** Electronics retailer on Friday said it has commenced commercial operation of new exclusive brand outlet in Gurugram, Haryana

** About 1.6 mln shares change hands by 11:43 a.m. IST, 3.6x the 30-day avg - Refinitiv data

** Stock trading above its 50-, 100-, and 200-day exponential moving averages for second consecutive session

** Stock last up 4.3%, cutting YTD losses to 3.3%

(Reporting by Priya Sagar in Bengaluru)

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May 26 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• ELECTRONICS MART INDIA MARCH-QUARTER CONSOL NET PROFIT 361.1 MILLION RUPEES VERSUS PROFIT 353.4 MILLION RUPEES

• ELECTRONICS MART INDIA MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 13.28 BILLION RUPEES VERSUS 12.31 BILLION RUPEES

Source text for Eikon: ID:nBSE4B5q0Y

Further company coverage: ELEO.NS

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April 24 (Reuters) - Electronics Mart India Ltd ELEO.NS:

• ELECTRONICS MART INDIA LTD - COMMENCED COMMERCIAL OPERATION OF A NEW MULTI BRAND STORE UNDER BRAND NAME BAJAJ ELECTRONICS

Source text for Eikon: ID:nBSE1TFccB

Further company coverage: ELEO.NS

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