Imagine Marketing Ltd (Boat)11 - Unlisted Shares
Fundamentals
- Current Price
- ₹0
- Market Cap
- ₹16,297.93 Cr
- ISIN
- INE03AV01027
- Face Value
- ₹1
- P/E Ratio
- 162.14
- EPS
- ₹10.46
- P/B Ratio
- 34.75
- Book Value
- 48.8
- Debt / Equity Ratio
- 2.63
Key Financials
Profit & Loss
| Metric | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|
| Revenue from Operations | 3,376.8 | 2,872.9 | 1,313.8 | 700.4 | 239.4 |
| Growth % | 18% | 119% | 88% | 193% | 0 |
| Operating Expenses | 3,462.9 | 2,744.0 | 1,187.1 | 628.7 | 226.3 |
| Growth % | 26% | 131% | 89% | 178% | 0 |
| Operating Profit | -86.1 | 128.9 | 126.7 | 71.7 | 50.9 |
| Op. Profit Margin % | -2.6% | 4.5% | 9.6% | 10.2% | 21.3% |
| Other Income | 26.4 | 13.5 | 6.6 | 3.7 | 1.3 |
| Finance Costs | 78.4 | 34.6 | 11.9 | 8.5 | 1.9 |
| Depreciation | 25.6 | 9.1 | 3.2 | 0.3 | 0.2 |
| Profit Before Tax | -163.7 | 98.8 | 118.2 | 66.6 | 50.1 |
| Tax | -34.3 | 30.1 | 31.7 | 17.0 | 3.7 |
| Tax % | 21% | 30% | 27% | 26% | 7% |
| Profit After Tax | -129.5 | 68.7 | 86.5 | 49.5 | 8.7 |
| Growth % | -288% | -21% | 75% | 469% | 0 |
| PAT % | -4% | 2% | 7% | 7% | 4% |
| Diluted EPS (FV of ₹1 per share) | 10.5 | 5.8 | 7.9 | 898.2 | 162.5 |
Company Financials
| Metric | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|
| Equity Capital | 9.6 | 9.6 | 9.4 | 0.1 | 0.1 |
| Reserves | 448.7 | 581.5 | 454.8 | 0 | 38.1 |
| Other Equity | 10.9 | 10.9 | 0 | 72.1 | 0 |
| Total Equity | 469.2 | 601.9 | 464.2 | 72.2 | 38.1 |
| Borrowings | 503.1 | 0 | 0 | 13.5 | 0 |
| Other Non-Current Liabilities | 54.0 | 72.9 | 7.9 | 4.3 | 0.0 |
| Total NC Liabilities | 557.1 | 72.9 | 7.9 | 17.8 | 0.0 |
| Borrowings | 733.0 | 921.1 | 41.5 | 35.3 | 14.5 |
| Other Current Liabilities | 393.2 | 389.9 | 164.9 | 65.9 | 31.5 |
| Total Current Liabilities | 1,126.2 | 1,311.1 | 206.4 | 101.2 | 46.0 |
| Equity + Liabilities | 2,152.4 | 1,985.9 | 678.5 | 191.1 | 84.2 |
| Fixed Assets (incl. WIP) | 360.9 | 321.2 | 16.4 | 6.3 | 0.2 |
| Other Non Current Assets | 113.5 | 48.7 | 6.7 | 17.0 | 3.3 |
| Total NC Assets | 474.3 | 369.9 | 23.1 | 23.3 | 3.5 |
| Trade Receivables | 275.8 | 323.1 | 75.5 | 55.3 | 38.8 |
| Cash & Cash Equivalents | 218.0 | 340.4 | 144.4 | 7.3 | 0.0 |
| Other Current Assets | 1,184.3 | 952.5 | 435.4 | 112.8 | 41.9 |
| Total Current Assets | 1,678.1 | 1,616.0 | 655.3 | 175.4 | 80.7 |
| Total Assets | 2,152.4 | 1,985.9 | 678.4 | 198.7 | 84.2 |
Shareholding Pattern
- Sameer Mehta
- 39.93%%
- Aman Gupta
- 39.93%%
- South Lake Investments
- 19.26%%
- Others
- 0.88%%
Strengths & Weaknesses
Strengths
- Market Leader: boAt is a leading company in wearable technology, holding a 26% market share in the calendar year 2023, as reported by IDC India Monthly Wearable Device Tracker.
- Brand Presence: boAt products are widely available online through their website and major e-commerce platforms like Amazon and Flipkart, and offline through partnerships with electronics and smartphone retailers.
- Competitive Pricing: The company's products are crafted to be budget-friendly for the average Indian consumer, while seamlessly integrating contemporary design features.
- Make in India: Currently, 70% of boAt products are made in India. The company aims to make 90 percent of its products in India in the coming future
- Partnerships: boAt has partnered with Netflix, multiple IPL teams, and various musical festivals to promote its products.
Weaknesses
- Falling Profitability: boAt incurred a loss of ₹129 Cr in FY23 on account of growing business development and advertising costs.
- Price wars: boAt Lifestyle competes in a highly competitive market, with premium brands like JBL, Sony, and Sennheiser also lowering prices in India to attract a broader audience.
- Rise of Noise: boAt’s market share fell from ~32% in CY22 to ~26% in CY23, where Noise’s market share increased from ~5% to ~11%, almost doubled.
About Imagine Marketing Ltd (Boat)11
Imagine Marketing Limited owns the popular electronics brand boAt, which was founded by Aman Gupta and Sameer Mehta in 2013.
Board of Directors
- Sameer Mehta - Whole-Time Director & CEO
- Aman Gupta - Whole Time Director & CMO
- Vivkek Gambhir - NON-EXECUTIVE DIRECTOR, CHAIRMAN
- Anish Saraf - NON-EXECUTIVE DIRECTOR
- Purvi Sheth - NON-EXECUTIVE INDEPENDENT DIRECTOR
- Aashish Kamat - NON-EXECUTIVE INDEPENDENT DIRECTOR
- Anand Ramamoorthy - NON-EXECUTIVE INDEPENDENT DIRECTOR
- Deven Waghani - NON-EXECUTIVE INDEPENDENT DIRECTOR
Senior Management
- Sameer Mehta - COO
- Aman Gupta - CMO
- Gaurav Nayyar - COO
- Rakesh Thakur - CFO
- Shreekant Sawant - CS
- Shashwat Singh - CIO