Speciality Retail Stock Below Rs 30 Hit Upper Circuit As PAT Clocks 91% Growth In H1FY24

With a market valuation of Rs 275 Cr, Bhatia Communications & Retail (India) Ltd is a small-cap company in the consumer discretionary industry. A reputable multi-brand retailer of consumer durables, electronics, and electrical appliances with a broad product line is Bhatia Communications & Retail (India). After the firm released its financial results for the quarter and half year that ended on September 30, 2023, the shares of Bhatia Communications & Retail (India) were trading at a 2% upper circuit limit at Rs 21.85 apiece on Tuesday.

During the half year that ended on September 30, 2023 the company recorded a revenue of Rs 204.06 Cr up by 31% YoY from Rs 156.17 Cr in the same period of the previous fiscal year. During the quarter its revenue was Rs 100.87 Cr up by 24% YoY from Rs 81.61 Cr in Q2FY23.

Its net expenses reached Rs 196.06 Cr in H1FY24 up by 29% from Rs 152.01 Cr in H1FY23 whereas the expenses were Rs 97.53 Cr in Q2FY24 which was Rs 79.43 Cr in Q2FY23, representing a growth of 23%.

Bhatia Communications & Retail (India) said its EBITDA was Rs 9.31 Cr in H1FY24 up by 60% YoY from Rs 5.81 Cr in H1FY23 whereas in Q2FY24 the topline was Rs 3.93 Cr which is a growth of 36% from Rs 2.90 Cr in Q2FY23.

Its net profit was Rs 6.05 Cr in the half year that ended on September 30, 2023 which was Rs 3.17 Cr in the same period of FY23, registering a growth of 91%. Whereas during the quarter ended September 30, 2023 its net profit was Rs 2.47 Cr up by 52% YoY from Rs 1.63 Cr in the same quarter of the previous financial year.

The firm began selling mobile phones in 1996. It was formed in 2008 with one store, and as of H1FY24, it has 180 locations-170 owned and 10 franchised. In FY23, the firm launched its first store in Maharashtra and declared that it would be extending its operations outside of Gujarat.