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The Company was originally formed as a sole proprietorship under the name of ‘Bajaj Electronics’ at Hyderabad in 1980 and it was converted into a partnership firm under the name of ‘Bajaj Electronics’ (“Bajaj Electronics”) pursuant to partnership deed dated March 25, 2011, and was registered under the Indian Partnership Act, 1932 with the Registrar of Firms, Hyderabad (South) on April 13, 2011. Pursuant to the deed of partnership dated July 31, 2017, constitution of ‘Bajaj Electronics’ was modified to admit new partners and a memorandum acknowledging receipt of documents for change in constitution of partnership was issued by Registrar of Firms, Hyderabad (South), on August 2, 2017. ‘Bajaj Electronics’ was thereafter converted into a public limited company under the Companies Act, 2013 with the name ‘Electronics Mart India Limited’ pursuant to certificate of incorporation issued by Central Registration Centre, Registrar of Companies dated September 10, 2018.
Electronics Mart India is the 4th largest and one of the fastest growing consumer durables and electronics retailers in India and as of Financial Year 2021, it is the largest regional organised player in the southern region in revenue terms with dominance in the states of Telangana and Andhra Pradesh. It commenced its business operations in 1980 and since then there has been a steady rise in its revenue from operations. It has been one of the fastest growing consumer durable & electronics retailers in India with a revenue CAGR of 17.90% from Financial Year 2016 to Financial Year 2021. It has consistently demonstrated profitability with a robust operating performance. It had the second highest operating margin amongst its peers in Fiscal Year 2021. The company has built a longstanding market presence with more than three decades of experience having commenced its business operations as a proprietary concern by setting up its first consumer durable and electronic retail store at Hyderabad. It converted the erstwhile sole proprietorship into a partnership firm under the name of ‘Bajaj Electronics’ pursuant to a partnership deed dated March 25, 2011 and subsequently converted the partnership firm into a public limited company under the Companies Act, 2013 with the name ‘Electronics Mart India Limited’.
Business area of the company
The company offers a diversified range of products with focus on large appliances (air conditioners, televisions, washing machines and refrigerators), mobiles and small appliances, IT and others. Its offering includes more than 6,000 SKUs across product categories from more than 70 consumer durable and electronic brands. Its business model is a mix of ownership and lease rental model, as it focuses to secure retail spaces which ensures high visibility and easy accessibility to customers. Under the ownership model, it owns the underlying property including the land and building and in lease rental model, it enters into a long-term lease arrangement with the property owner(s). As of August 31, 2022, out of the total 112 stores it operate, 11 stores are owned, 93 stores are under long-term lease rental model and eight stores are partly owned and partly leased. It focus on deepening its presence in the regions it operate in before venturing into new markets which has led it to establish brand presence in Telangana and Andhra Pradesh markets.
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