Plans National Growth and IPO by FY27, ETRetail

New Delhi: Legacy cellular retailer Sangeetha Mobiles has formally rebranded itself as Sangeetha Gadgets, marking its transition from a mobile-focused chain to a full-fledged, multi-category shopper electronics retailer. With over 800 company-owned shops throughout South India, the retailer is gearing up for nationwide enlargement, new digital improvements, and a doable public itemizing (IPO) inside the subsequent two years.

“We don’t want to be a mobile-only or offline-only player anymore,” mentioned Chandu Reddy, director at Sangeetha Gadgets, in an unique dialog with ETRetail. “The idea is to evolve into a tech-enabled electronics company that offers everything from smartphones and wearables to large appliances and home gadgets.”

National enlargement and new-format shops

After consolidating its dominance within the southern markets and components of Mumbai, Sangeetha Gadgets plans to enter Delhi-NCR and Odisha this monetary yr. The firm can be planning to open 60 new shops yearly which incorporates 50 ‘Gadget Stores’ and 10 bigger ‘Gadget+ Stores’, because it deepens its omnichannel presence.

‘Gadget Stores’ home cellphones, air conditioners, vacuum cleaners, and water purifiers, whereas the ‘Gadget+’ format provides classes akin to fridges, washing machines, and dishwashers.

“Our larger stores are designed as experience hubs, where customers can see, test and understand technology in real time,” Reddy mentioned.

Currently, the model’s offline community covers over 1,000 pincodes, anticipated to achieve 1,500 pincodes inside a month because it expands success and supply capabilities.

Dark shops and categorical deliveries

In a bid to modernize logistics, Sangeetha Gadgets is organising darkish shops in Mumbai and Delhi to energy hyperlocal supply. A current 17-minute iPhone supply pilot in Bengaluru varieties a part of its broader quick-commerce technique.

“We pioneered a 47-minute delivery model as far back as 2013, long before quick commerce became a buzzword,” Reddy famous. “Now, we are taking that learning nationwide.”

Mixed-reality retail and AI-driven engagement

The firm is investing closely in retail tech – from combined actuality procuring to AI-enabled buyer analytics. Using its in-house MR software program, clients can discover home equipment by way of Meta headsets – “you can open a virtual fridge door, feel the texture, and rotate it,” Reddy defined.

On the AI aspect, Sangeetha Gadgets has deployed conversational search instruments that mimic pure chat-based queries (“show me a phone with 8GB RAM under Rs 20,000 in grey”). It additionally makes use of voice-to-text analytics throughout its 800 shops and customer-care centres to grasp shopping for behaviour and repair high quality.

“We process and replace data every eight days in line with India’s data protection norms,” Reddy mentioned.

Financial targets and festive momentum

Sangeetha Gadgets goals to shut FY26 with Rs 3,000 crore in annual income, a milestone it additionally considers a set off for its IPO plans.

The firm’s income for the fiscal yr ending March 31, 2024, stood at Rs 2,430 crore, representing a ~9% year-over-year improve, as per market analysis platform Tracxn.

“The markets have to be kind to us based on our EBITDA itself. We are waiting to achieve healthy margins and sustainable topline growth before going public,” Reddy mentioned, including that EBITDA margins at present hover beneath 5%.

He famous that the current GST minimize on choose durables and robust festive demand have lifted shopper sentiment. “The initial weeks saw some disruption post the GST revision, but confidence is back as weddings and festivals have been a big booster,” he mentioned.

Road forward

With deeper tech integration, rapid-delivery logistics, and enlargement past its southern stronghold, Sangeetha Gadgets is betting on mixing pace, service and expertise to compete with each offline rivals and e-commerce giants.

“We have been around for 50 years, and this transformation ensures we will stay relevant for the next 50,” Reddy summed up.