Shares of this small-cap stock hit the 5 percent upper circuit post a Block Deal in relation to the company’s shares worth Rs 138 crores. In the last five trading sessions, the company’s stock has gained more than 15 percent.
With a market capitalization of Rs 5,676.97 crores, the stocks of Electronics Mart India Limited, a company involved in the speciality retail sector, hit the 5 percent upper circuit on Thursday at a price of Rs 151. The company’s stock is inching near to its 52-week high price of Rs 166.50.
Such bullish movements in the company’s stocks were observed post a Block Deal report pertaining to the company’s shares. According to the report, around 96.2 lakh shares of the company equating to a 2.5 percent equity stake exchanged hands totaling a deal worth Rs 137.6 crores. Buyers and sellers forming a part of the deal were not known immediately.
Having a glance at the financial performance reported, the company has successfully been able to increase its basic business parameters such as the operating revenues and after-tax profits.
The operating revenues went up from Rs 4,349.32 crores during FY21-22 to Rs 5,445.71 crores during FY22-23, and, the after-tax profit figures moved up from Rs 103.89 crores to Rs 122.8 crores.
In addition to the above, the company’s debt-to-equity ratio of the company, though within the desired levels, was reduced even more from 1.00 times during FY21-22 to 0.61 times during FY22-23.
As per the shareholding data available for the quarter ended June 2023, the company’s Promoters, having ‘skin in the game’, hold a 77.97 percent stake. Moreover, Foreign Institutional Investors (FIIs) have consistently increased their stake over the past few quarters and currently hold a 3.44 percent stake in the company.
Founded in 1980, Electronics Mart India Limited is an electronic retailer based in India. The company offers large appliances including televisions, washing machines, refrigerators, phones, tablets, smart watches, and many other products.
Written by Amit Madnani
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