One of the micro-cap stocks engaged in providing a wide range of furniture, homeware, and customized solutions for kitchens and wardrobes, operating through both brick-and-mortar stores under the brand name HomeTown and an online retail platform. The stock has hit a 5 percent upper circuit after announcing the opening of five new HomeTown stores across India.
Stock Price Movement
With a market capitalization of Rs. 259.08 crores, the shares of Praxis Home Retail Limited’s stock surged by 5 percent, reaching an upper circuit of Rs. 20.69 per share on Monday, up from its previous closing price of Rs. 19.71 per share.
What Happened
Praxis Home Retail Limited is excited to announce the opening of five new HomeTown stores across India, further expanding its reach in key markets. The new stores are located in Pune, Nagpur, Noida, Surat, and two additional locations in South and East Kolkata.
The strategic expansion strengthens HomeTown’s footprint, offering a diverse range of home furnishings, decor, modular solutions, and kids furniture by Smartsters.
HomeTown continues to enhance customer experiences, targeting young homeowners and growing families. The new stores will cater to both value-conscious and premium shoppers, providing a seamless retail experience.
Products Offering
Praxis Home Retail Limited operates under the HomeTown brand, offering a wide variety of home interior products. The company provides furniture, home décor, furnishings, modular kitchens, wardrobes, and bathroom accessories, delivering customized solutions to meet the needs of modern living spaces. HomeTown serves as a one-stop shop for home interiors.
Business Operations
The company operates 44 stores across 28 cities in India and has expanded its presence online through its website and partnerships with major e-commerce platforms like Flipkart, Amazon, and Pepperfry. This omni-channel approach allows them to cater to a diverse customer base.
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Recent quarter results
Praxis Home Retail Limited’s revenue has decreased from Rs. 59.02 crore in Q2 FY24 to Rs. 26.35 crore in Q2 FY25, which has grown by 32.67 percent. The net loss of Praxis Home Retail Limited has reduced from Rs. 13.79 crore in Q2 FY24 to Rs. 2.56 crore in Q2 FY25.
Shareholding pattern
In September 2024, Praxis Home Retail Limited had a majority stake held by the promoters at 26.26 percent, foreign institutional investors at 1.77 percent, domestic institutional investors at 0.47 percent, and the public at 71.50 percent.
Company Overview
Praxis Home Retail Limited (PHRL), founded on January 31, 2011, originally as GRN Energy Private Limited, is a leading player in the Indian home retail sector. Based in Mumbai, Maharashtra, the company specializes in home furnishings and decor through departmental stores under various formats. It rebranded to Praxis Home Retail Limited in 2017.
Written By – Nikhil Naik
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