AGM Updates of Imagine Marketing (Boat) - Leading brand

16 October 2024

• Market Share: The company holds ~ 35% of the market share in TWS segment of India, making it a leading brand in the respective category in the country. The company has an 11.6% market share in the smartwatch segment, ranking third. Noise leads this segment with a 25.7% market share, followed by Fire-Boltt in second place with a 24.2% market share. The company manufactured over 29 million units in FY 2024.
  
• Improvement in working capital: Discussed FY24 financials and highlighted that debtors have been reduced from ₹313 crore in FY23 to ₹95 crore in FY24
  
• Launch and Expansion: The company launched Nirvana in FY 2024 and is investing in the production of smartwatches under the Make in India initiative. The company plans to launch serialized boat products to verify authenticity and combat the issue of counterfeit products in the market.
• Innovation: The company is working on a bone-conduction solution. Bone conduction hearing aids amplify sound via bone conduction or vibrations through the bones of the skull.