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Company Overview
BOAT is a leading Indian consumer electronics brand known for its stylish and affordable audio products. Here’s a detailed look at what makes BOAT a standout company:
Company Background
- Founded: 2016
- Founders: Aman Gupta and Sameer Mehta
- Headquarters: Mumbai, India
- Industry: Consumer Electronics
Products
BOAT specializes in audio products, including:
- Earphones: Both wired and wireless options, designed for comfort and high-quality sound.
- Headphones: Over-ear and on-ear models, featuring noise cancellation and deep bass.
- Speakers: Portable Bluetooth speakers, known for their durability and powerful sound.
- Smartwatches: Stylish and functional smartwatches with fitness tracking features.
- Home Audio Systems: Soundbars and other home audio solutions.
Market Position
- Target Audience: Primarily millennials and Gen Z who seek trendy, high-performance audio products without breaking the bank.
- Market Share: BOAT has quickly captured a significant share of the Indian audio market, often ranking among the top brands in the segment.
- Expansion: The company is expanding its product range and exploring international markets.
Business Model
- Online Presence: A strong online presence with sales through major e-commerce platforms like Amazon, Flipkart, and its own website.
- Retail Partnerships: Collaborations with retail chains to make products available offline as well.
- Customer Service: Focuses on excellent customer service with responsive support and easy warranty claims.
Future Plans
- Innovation: Continuously investing in research and development to bring new and improved products to the market.
- Global Expansion: Aiming to expand its footprint beyond India, targeting markets in Asia, Europe, and the Americas.
Fundamentals
| Metric | Value | Metric | Value |
|---|---|---|---|
| Current Price | ₹1395 | ROE (%) | -28.13 |
| Debt to Equity | 2.7 | P/B | 29.2 |
| Market Cap (in Cr.) | ₹13392 | P/E Ratio | -103.79 |
| Face Value | 1 | PAN Number | AADCI3821M |
| Book Value | 47.77 | EPS | -13.44 |
| ISIN | INE03AV01027 | No. of Shares (in Cr.) | 9.6 |
Promoters & Managements
| Name | Designation |
|---|---|
| Aman Gupta | Co-Founder, CMO |
| Sameer Mehta | Co-Founder, Chief Product Officer |
Financial Data
| Item | 2022 | 2023 |
|---|---|---|
| Revenue | 2885 | 3398 |
| Cost of Material Consumed | 2591 | 2527 |
| Gross Margins (%) | 9.82 | 25.17 |
| Change in Inventory | -245 | 84 |
| Employee Benefit Expenses | 56 | 99 |
| Other Expenses | 341 | 748 |
| EBITDA | 130 | -81 |
| OPM (Operating Profit Margin) | 4.52 | -2.4 |
| Other Income | 12 | 21 |
| Finance Cost | 34 | 78 |
| D&A (Depreciation & Amortization) | 9 | 25 |
| EBIT (Earnings Before Interest and Taxes) | 121 | -106 |
| EBIT Margins (%) | 4.21 | -3.14 |
| PBT (Profit Before Tax) | 99 | -163 |
| PBT Margins (%) | 3.45 | -4.83 |
| Tax | 30 | -34 |
| PAT (Profit After Tax) | 69 | -129 |
| NPM (Net Profit Margin) (%) | 2.4 | -3.82 |
| EPS (Earnings Per Share) | 7.19 | -13.44 |
Financial Ratios
| Financial Ratio | 2022 | 2023 |
|---|---|---|
| Operating Profit Margin (%) | 4.52 | -2.4 |
| Net Profit Margin (%) | 2.4 | -3.82 |
| Earnings Per Share (Diluted) | 7.19 | -13.44 |
Assets
| Item | 2022 | 2023 |
|---|---|---|
| Fixed Assets | 2.8 | 155 |
| CWIP | 14 | 8 |
| Investments | 32 | 30 |
| Trade Receivables | 323 | 276 |
| Inventory | 554 | 470 |
| Other Assets | 1060.2 | 1213 |
| Total Assets | 1986 | 2152 |
Liabilities
| Item | 2022 | 2023 |
|---|---|---|
| Share Capital | 9.6 | 9.6 |
| FV | 1 | 1 |
| Reserves | 592 | 449 |
| Borrowings | 921 | 1236 |
| Trade Payables | 219 | 259 |
| Other Liabilities | 244.4 | 198.4 |
| Total Liabilities | 1986 | 2152 |
Profit and Loss Items
| Item | 2022 | 2023 |
|---|---|---|
| PBT (Profit Before Tax) | 99 | -164 |
| OPBWC (Operating Profit Before Working Capital Changes) | 265 | -5 |
| Change in Receivables | -242 | 22 |
| Change in Inventories | -251 | 51 |
| Change in Payables | 68 | 39 |
| Other Changes | -160 | -161 |
| Working Capital Change | -585 | -49 |
| Cash Generated From Operations | -320 | -54 |
| Tax | -49 | -10 |
| Cash Flow From Operations | -369 | -64 |
Cash Flow from Investing and Financing Activities
| Item | 2022 | 2023 |
|---|---|---|
| Purchase of PPE | -14 | -23 |
| Sale of PPE | 0 | 0 |
| Cash Flow From Investment | -632 | -75 |
| Borrowing | 879 | 188 |
| Dividend | 0 | 0 |
| Equity | 2.9 | 0.3 |
| Others From Financing | 13 | 37.7 |
| Cash Flow from Financing | 894.9 | 226 |
Cash Flow Summary
| Item | 2022 | 2023 |
|---|---|---|
| Net Cash Generated | -106.1 | 87 |
| Cash at the Start | 165 | 60 |
| Cash at the End | 58.9 | 147 |
Share Holding Pattern
| Shareholder | 2022 | 2023 |
|---|---|---|
| Mr. Sameer Mehta | 39.96% | 39.93% |
| Mr. Aman Gupta | 39.96% | 39.93% |
| South Lake Investment Ltd | 19.28% | 19.26% |
| Others | 0.8% | 0.88% |
Frequently Asked Questions (FAQ)
Find answers to common questions, providing clarity and insights to address any queries on your mind.
Contact Us: Reach out to Unlistify to confirm availability and agree on a price.
Provide KYC: Submit your Client Master Report, PAN card, and a cancelled cheque.
Make Payment: Transfer funds to our designated bank account (RTGS/NEFT/IMPS/cheque). Ensure the payment originates from the same account where you want the shares credited.
Receive Shares: We’ll transfer the Boat shares to your Demat account within 24 hours of payment confirmation.
Get a Quote: Unlistify will provide a buyback price for your Boat shares.
Share Details: Submit your Client Master Report.
Transfer Shares: Transfer the Boat shares to our Demat account using a DIS (Delivery Instruction Slip).
Receive Payment: We’ll transfer funds to your bank account within 24 hours of receiving the shares (RTGS/NEFT/IMPS/cheque). For security reasons, payment will only be made to the account linked to your Demat
DIS (Delivery Instruction Slip): A DIS is a form used to authorize the transfer of shares from your Demat account.
Methods:
Offline DIS: Fill out a physical DIS form with details like the ISIN number, quantity, price of your Boat shares, and our account information. Submit this to your broker.
Online DIS: Some brokers offer online DIS systems for easier transfers.
Unlistify aims to make unlisted share investing accessible. The current minimum investment for Boat Unlisted Shares is approximately 35,000 – 50,000 INR.
Limited Liquidity: Unlisted shares are not traded on public exchanges, making it potentially harder to find buyers when you want to sell.
Price Volatility: Prices can fluctuate more than listed shares due to less publicly available information.
Regulatory Changes: Regulations for unlisted shares can change, affecting their value and trading.
Company-Specific Risks: Each company has its own risks related to its industry, financials, and management.
No Guarantee of Listing: There’s no assurance that unlisted shares will ever be listed on a public exchange.
Market Leader: Unlistify is one of India’s fastest-growing unlisted share platforms.
Transparency: We provide clear information about each unlisted share, including potential risks.
Security: We prioritize the protection of your financial information.
Customer Support: Our team is dedicated to guiding you through the investment process.
Latest Funding: We consider the valuation from Boat most recent funding round.
Comparable Companies: If there’s no recent funding, we analyze similar listed companies to estimate a fair value.
SEBI’s Influence: SEBI regulations do apply to some aspects of unlisted share trading, such as lock-in periods and transaction charges. However, there are no specific SEBI regulations for becoming an unlisted broker.
We aim for same-day transfer of Boat Unlisted Shares to your Demat account after your payment is confirmed.
Tax Transition: Once your unlisted Boat shares are listed and sold on an exchange, standard listed share tax rules apply.
Holding Period: Your holding period (for determining long-term vs. short-term capital gains tax) starts from the original unlisted purchase date.
