Fonebox Retail Ltd - Stock Valuation and Financial Performance

Fonebox Retail Limited was originally incorporated as ‘Fonebox Retail Private Limited’ a private limited company under the provision of Companies Act, 2013 vide Certificate of Incorporation dated February 05, 2021 issued by Registrar of Companies, Central Registration Centre. Later on, the company was converted into a Public Limited Company pursuant to special resolution passed at Extra-ordinary General Meeting by the shareholders of the Company held on June 28, 2023 and the name of the Company was changed to ‘Fonebox Retail Limited’. A fresh Certificate of Incorporation consequent upon Conversion from Private Limited Company to Public Limited Company dated July 12, 2023 was issued by the Registrar of Companies, Ahmedabad.

The company is engaged in multi-brand retail selling of Smart Phones and allied accessories from manufacturers like Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG and Micromax. The company is also engaged in multi-brand retail selling of consumer durable electronics goods like Laptop, Washing Machines, Smart TVs, Air Conditioners, Fridges, etc. from brands like TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme, OnePlus. The company operates its retail business with multiple brands. It has a portfolio of retail stores with different brands. It initially started its business operations with brand ‘Fonebox’, for the company owned stores as well as franchise stores. 

Further, it acquired famous mobile phone retail store brands such as ‘Fonebook’ and ‘My Mobile’ vide Business Purchase agreements from their respective owners in the year 2021. Over the years, the company has grown its operations by multiple stores acquisitions. It acquired business of other shops operating under their respective registered / unregistered brands in financial years 2022. The company provides credit/EMI facilities to customers for buying its products for which the company has tied up with major leading credit houses like Bajaj Finance, HDB Financial Service, HDFC Bank and IDFC First Bank. The company in order to continue relationship with its valuable customers, it also provides after sale services related to mobile handsets and tablets in its own retail and franchisee outlets.

Business area of the company

The company is primarily engaged in the business of retail and wholesale distribution business of mobile handsets, tablets, data cards, mobile accessories, mobile related products, Home appliances and other electronic items.

Products of the company 

• Mobile handsets/smart phones and allied accessories
• Consumer durable home appliances

History and milestones

• 2021: The Company was incorporated as a private limited company under the name ‘Fonebox Retail Private Limited’.
• 2021: The Company acquired total business of 11 stores operating under Brand Name of ‘My Mobile’ from My Mobile Retail Solutions LLP under Business Purchase Agreement dated April 05, 2021.
• 2021: The Company acquired total business of 37 stores under Brand Name of ‘Fonebook’ from M/s HK Retail under Business Purchase Agreement dated June 28, 2021.
• 2022: The Company crossed the turnover of Rs 90.00 crore within 13 months of incorporation. 
• 2022: The Company acquired total business of store located at Gandhinagar from M/s. Safe Zone under Business Purchase Agreement dated February 23, 2022.
• 2022: The Company acquired total business of 2 stores from I Magic Mobile Private Limited under Business Purchase Agreement dated April 01, 2022.
• 2023: Crossed turnover of Rs 195.00 crore in FY 2022-23.
• 2023: The Company was converted into Public Limited Company under the name of ‘Fonebox Retail Limited’.