GNG Electronics Ltd
Incorporated in 2006, GNG Electronics Limited offers refurbishing services for laptops, desktops, and ICT Devices, both globally and in India.[1]
- Market Cap ₹ 4,779 Cr.
- Current Price ₹ 419
- High / Low ₹ 485 / 239
- Stock P/E 36.2
- Book Value ₹ 66.5
- Dividend Yield 0.00 %
- ROCE 20.3 %
- ROE 26.8 %
- Face Value ₹ 2.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 77.5% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.7%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Debtor days have increased from 31.6 to 39.9 days.
- Working capital days have increased from 60.6 days to 112 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 245 | 344 | 519 | 661 | 1,138 | 1,411 | 1,891 | |
| 239 | 331 | 489 | 616 | 1,059 | 1,294 | 1,695 | |
| Operating Profit | 6 | 13 | 31 | 45 | 79 | 117 | 196 |
| OPM % | 2% | 4% | 6% | 7% | 7% | 8% | 10% |
| 1 | 2 | 1 | 3 | 6 | 9 | 4 | |
| Interest | 5 | 6 | 8 | 12 | 24 | 38 | 42 |
| Depreciation | 0 | 1 | 1 | 1 | 4 | 9 | 10 |
| Profit before tax | 2 | 8 | 23 | 36 | 57 | 78 | 148 |
| Tax % | 15% | 11% | 11% | 8% | 9% | 12% | 11% |
| 2 | 7 | 20 | 33 | 52 | 69 | 132 | |
| EPS in Rs | 5,213.92 | 8,440.72 | 13,438.14 | 7.09 | 11.58 | ||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 41% |
| 3 Years: | 42% |
| TTM: | 34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 78% |
| 3 Years: | 59% |
| TTM: | 92% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 31% |
| Last Year: | 27% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 19 | 23 |
| Reserves | 43 | 51 | 79 | 111 | 163 | 207 | 735 |
| 54 | 82 | 100 | 149 | 332 | 454 | 433 | |
| 40 | 38 | 11 | 16 | 91 | 39 | 63 | |
| Total Liabilities | 137 | 170 | 190 | 277 | 586 | 719 | 1,254 |
| 8 | 7 | 7 | 8 | 41 | 41 | 74 | |
| CWIP | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 7 | 0 | 0 |
| 129 | 163 | 183 | 268 | 538 | 678 | 1,180 | |
| Total Assets | 137 | 170 | 190 | 277 | 586 | 719 | 1,254 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -35 | -12 | -17 | 1 | 97 | 25 | -215 | |
| -6 | -4 | 0 | -34 | -28 | 3 | -46 | |
| 49 | 23 | 18 | 40 | -29 | -34 | 351 | |
| Net Cash Flow | 8 | 7 | 1 | 8 | 40 | -7 | 90 |
| Free Cash Flow | -42 | -13 | -18 | 1 | 73 | 15 | -238 |
| CFO/OP | -599% | -86% | -48% | 10% | 129% | 28% | -102% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 86 | 42 | 29 | 50 | 37 | 17 | 40 |
| Inventory Days | 78 | 111 | 89 | 85 | 115 | 153 | |
| Days Payable | 64 | 43 | 8 | 7 | 31 | 8 | |
| Cash Conversion Cycle | 101 | 110 | 110 | 128 | 122 | 162 | 40 |
| Working Capital Days | 31 | 24 | 46 | 47 | 18 | 52 | 112 |
| ROCE % | 12% | 20% | 22% | 21% | 20% | 20% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|
| Employee Strength Count |
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| Number of Customers / Touchpoints Count |
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| Procurement Partners Count |
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| Number of Refurbishment Facilities Count |
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| Volume of Devices Refurbished Units |
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| Number of Countries Presence Count |
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| Refurbishment Capacity Units per Month |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
11 May - GNG Electronics Limited has informed regarding the transcript of the Earnings Call with Analysts/Investors held on May 05, 2026
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Announcement under Regulation 30 (LODR)-Newspaper Publication
7 May - GNG Electronics Limited has informed regarding the Newspaper Publication in which the Financial Results of Company for quarter and year ended March 31, 2026 is …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
5 May - Audio recording of Q4 and FY26 earnings conference call made available on company website.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
5 May - GNG Electronics reported FY26 revenue ₹1,891.1 Cr, EBITDA ₹200.5 Cr and PAT ₹132.0 Cr.
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Appointment Of Internal Auditor
5 May - Board approved FY26 audited results, appointed internal auditor, and issued AED 20 million subsidiary guarantee.
Concalls
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
Business Profile:[1][2]
GNG Electronics Limited is India’s largest refurbisher of laptops and desktops and a major global player in refurbishing ICT devices (laptops, desktops, tablets, servers, smartphones, etc.). The company operates under the Electronics Bazaar brand – with nearly 100% of sales now under this brand – and follows a repair-over-replacement model.