GNG Electronics Ltd

₹ 577 0.94%

13 Nov - close price

electronicsbazaar.com BSE: 544455 NSE: EBGNG

About

Incorporated in 2006, GNG Electronics Limited offers refurbishing services for laptops, desktops, and ICT Devices, both globally and in India.^[1]

Key Points

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.

Website BSE NSE

Market Cap ₹ 6,581 Cr.
Current Price ₹ 577
High / Low ₹ 776 / 239
Stock P/E 39.6
Book Value ₹ 74.7
Dividend Yield 0.00 %
ROCE 20.2 %
ROE 26.8 %
Face Value ₹ 2.00

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Pros

Company is expected to give good quarter
Company has delivered good profit growth of 77.4% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 30.6%

Cons

Stock is trading at 7.73 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -3.00%
Tax rate seems low
Company might be capitalizing the interest cost
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.

Peer comparison

Information Technology Information Technology IT - Hardware Computers Hardware & Equipments

Part of Nifty Microcap 250 BSE Information Technology BSE 1000 Nifty IPO Nifty Smallcap 500 BSE Total Market Index Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	255	353	347	456	312	440	487	652	412	625
YoY Sales growth					+22%	+25%	+40%	+43%	+32%	+42%
	230	320	317	428	280	393	433	588	363	532
Operating Profit	26	33	31	28	32	47	54	63	49	93
OPM %	10%	9%	9%	6%	10%	11%	11%	10%	12%	15%
	2	3	1	3	3	0	1	1	4	1
Interest	10	10	9	10	11	8	9	14	14	22
Depreciation	2	2	2	3	2	2	3	3	3	4
Profit before tax	16	24	21	18	22	36	43	46	36	68
Tax %	23%	2%	9%	18%	18%	10%	10%	9%	19%	17%
	12	23	19	15	19	33	39	42	29	56
EPS in Rs	1.21	2.30	1.96	1.52	1.91	2.86	3.39	3.70	2.54	4.94
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	245	344	519	661	1,138	1,411	1,891	2,176
Sales growth		+41%	+51%	+27%	+72%	+24%	+34%	+40%
	239	331	489	616	1,059	1,294	1,695	1,916
Operating Profit	6	13	31	45	79	117	196	260
OPM %	2.4%	3.9%	6%	7%	7%	8%	10%	12%
	1	2	1	3	6	9	4	6
Interest	5	6	8	12	24	38	42	59
Depreciation	0	1	1	1	4	9	10	13
Profit before tax	2	8	23	36	57	78	148	193
Tax %	15%	11%	11%	8%	9%	12%	11%
	2	7	20	33	52	69	132	166
EPS in Rs			2.02	3.27	5.20	7.09	11.55	14.57
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	41%
3 Years:	42%
TTM:	40%

Compounded Profit Growth
10 Years:	%
5 Years:	77%
3 Years:	59%
TTM:	95%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	74%

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	Sep 2026
Equity Capital	0.04	0.04	0.04	0.04	0.04	19	23	23
Reserves	43	51	79	111	163	207	735	829
	54	82	100	149	332	454	445	653
	40	38	11	16	91	39	52	122
Total Liabilities	137	170	190	277	586	719	1,254	1,627
	8	7	7	8	41	41	74	88
CWIP	0	0	0	1	0	0	0	0
Investments	0	0	0	0	7	0	0	0
	129	163	183	268	538	678	1,180	1,539
Total Assets	137	170	190	277	586	719	1,254	1,627

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	-114	-215
	-6	-4	0	-34	-28	-4	-46
	49	23	18	40	-29	77	351
Net Cash Flow	8	7	1	8	40	-40	90
Free Cash Flow	-42	-13	-18	1	73	-124	-238
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	-599%	-86%	-48%	10%	129%	-90%	-102%

Ratios

Consolidated / 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	180
Days Payable	64	43	8	7	31	8	7
Cash Conversion Cycle	101	110	110	128	122	162	213
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

Mar 2025

Mar 2026

Customer touchpoints
touchpoints

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India share of revenue
%

Laptop share of revenue
%

Number of employees
employees

Number of procurement partners
partners

Volume of devices refurbished
units

Number of countries supplied
countries

Refurbishment capacity
units per month

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

7 Recently

	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	78.71%	78.71%	78.71%	74.78%	71.78%
	3.42%	2.41%	2.78%	5.27%	5.54%
	4.62%	4.67%	5.20%	6.82%	5.12%
	13.26%	14.21%	13.33%	13.13%	17.57%
No. of Shareholders	55,550	54,579	49,026	53,228	68,068

	Mar 2026	Sep 2026
	78.71%	71.78%
	2.78%	5.54%
	5.20%	5.12%
	13.33%	17.57%
No. of Shareholders	49,026	68,068

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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