Umiya Mobile Limited

Umiya Mobile Limited, established in 2012, is a player in the multi-brand retail sector, specializing in the sale of smartphones, mobile accessories, and consumer durable electronic products, etc. Over the years, the company has built a reputation as a trusted retailer offering a wide array of products from some of the global brands. The product range includes the latest smartphones from Apple, Samsung, Realme, Xiaomi, Oppo, Vivo, Motorola, Google Pixel, Infinix etc. They also offer consumer electronics, such as Smart TVs, Air Conditioners, Refrigerators, Coolers, and more, from brands like Sony, LG,Panasonic, Godrej and others. The company operates a total of 149 stores across the state of Gujarat and 69 stores in Maharashtra and in One Union Territory of Dadra and Nagar Haveli and Daman and Diu, providing them with a widespread geographic presence and accessibility to a large customer base. In line with the commitment to making the products accessible to a broader customer base, they offer credit/EMI facilities to customers through tie-ups with credit houses like banks and financial institutions. These financing options make it easier for customers to purchase quality mobile phones and electronics, enhancing the overall shopping experience and increasing accessibility. As per financial performance, Umiya Mobile Limited has posted total income / net profits of Rs 333.54 Cr / Rs 0.18 Cr (FY23), Rs 451.58 Cr / Rs 2.35 Cr (FY24) and Rs 601.28 Cr / Rs 5.66 Cr (FY25). So as per previous financials data, company has shown good results. Company has posted an average EPS of Rs 3.49 and average RoNW of 30.18% for last three fiscals. Issue is priced at a P/BV of 2.66 as per NAV of Rs 24.79/- as on Post Issue. If we attribute latest earnings of FY23, FY24 and FY25 on fully diluted equity post issue, then asking price is at a P/E of around 514.54, 39.95 and 16.57 respectively, which looks fully priced. As per RHP, comparision between listed peers are shown in above table. On BRLM's front, Smart Horizon Capital Advisors Private Limited is associated with this SME IPO and handled 9 SME IPOs in last 3 years. From last 9 IPOs, eight opened above issue price or at par and remaining below issue price on the day of listing. As of now from last 9 IPOs, two are trading below issue price and remaining all above issue price as on today. ( As on 28.07.25 ) As per financials, Umiya Mobile Limited has shown good growth, RoNW is 40.51% and P/E is respectively 514.54, 39.95 and 16.57 as per FY23, FY24 and FY25 earnings. So, issue looks fully priced as per recent earnings. Company is in business of multi-brand retail sector, specializing in the sale of smartphones, mobile accessories, and consumer durable electronic products, etc., which is highly competitive business segment. So, we give NEUTRAL rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

• 1 Mr. Jadwani Kishorbhai Premjibhai
• 2 Mr. Jadvani Girishkumar Premjibhai
• 3 Mr. Vijesh Premjibhai Patel