EPW India Ltd
EPW India is an IT electronics refurbishing company providing affordable refurbished laptops, desktops, Chromebooks, monitors, and accessories.[1]
- Market Cap ₹ 288 Cr.
- Current Price ₹ 251
- High / Low ₹ 282 / 98.0
- Stock P/E 21.6
- Book Value ₹ 45.4
- Dividend Yield 0.00 %
- ROCE 45.9 %
- ROE 42.8 %
- Face Value ₹ 5.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 55.2%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 84.4 to 126 days.
- Working capital days have increased from 45.2 days to 108 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 SME Emerge
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| 7 | 19 | 53 | 107 | 129 | |
| Sales growth | +178% | +188% | +102% | +67% | |
| 7 | 18 | 47 | 91 | 107 | |
| Operating Profit | 0 | 1 | 6 | 17 | 21 |
| OPM % | 1.6% | 6% | 11% | 15% | 17% |
| 0 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 2 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 0 | 1 | 6 | 15 | 19 |
| Tax % | 25% | 27% | 28% | 29% | |
| 0 | 1 | 4 | 10 | 13 | |
| EPS in Rs | 0.07 | 0.90 | 5.18 | 8.98 | 11.62 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 153% |
| TTM: | 67% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 456% |
| TTM: | 98% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 55% |
| Last Year: | 43% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.10 | 0.10 | 0.10 | 6 | 6 |
| Reserves | 0 | 1 | 5 | 37 | 46 |
| 1 | 0 | 13 | 10 | 20 | |
| 5 | 7 | 10 | 22 | 17 | |
| Total Liabilities | 6 | 8 | 28 | 75 | 89 |
| 0 | 0 | 0 | 4 | 6 | |
| CWIP | 0 | 0 | 0 | 3 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 6 | 8 | 28 | 69 | 83 | |
| Total Assets | 6 | 8 | 28 | 75 | 89 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 0 | 0 | -12 | -13 | |
| -0 | -0 | -1 | -6 | |
| 1 | -0 | 13 | 23 | |
| Net Cash Flow | 1 | 0 | 1 | 4 |
| Free Cash Flow | 0 | 0 | -12 | -19 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 155% | 44% | -189% | -65% |
Ratios
Consolidated / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 9 | 56 | 72 | 126 |
| Inventory Days | 289 | 91 | 124 | 103 |
| Days Payable | 318 | 138 | 62 | 49 |
| Cash Conversion Cycle | -21 | 9 | 134 | 180 |
| Working Capital Days | -33 | 1 | 26 | 108 |
| ROCE % | 103% | 62% | 46% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| B2B Sales Channel Mix % ・Standalone data |
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| B2C Sales Channel Mix % ・Standalone data |
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| Laptops Sold Number of units ・Standalone data |
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| Number of B2B Customers customers ・Standalone data |
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| Number of B2C Customers customers ・Standalone data |
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| Refurbished Sales Mix % ・Standalone data |
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| Total Units Sold (Refurbished) Number of units ・Standalone data |
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| Recycling Capacity Utilization (Renavart) % |
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Extracted by Screener AI
Documents
Announcements
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Statement of deviation(s) or variation(s) under Reg. 32
- EPW India reported no deviation in IPO proceeds use for half-year ended 30 September 2026.
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Change in Company Secretary/Compliance Officer
- EPW India appoints CS Labdhi Jain as Company Secretary and Compliance Officer effective 13 November 2026.
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Outcome of Board Meeting
- EPW India approved H1 FY27 results, appointed CS Labdhi Jain, and disclosed planned Dubai acquisition.
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Agreements
- EPW India signs MOU with Spectrum Wireless and DeNovo for mobile phone sourcing, refurbishment and sales.
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Agreements
- EPW India signed an MOU with Spectrum Wireless and DeNovo for device sourcing, refurbishment and resale.
Business Profile[1]
EPW India Limited is an IT electronics refurbishing company engaged in refurbishing and resale of used laptops, desktops, Chromebooks, monitors and IT peripherals. The company operates an end-to-end reverse supply chain model, sourcing used IT assets, refurbishing them in-house, and selling them through B2B and B2C channels via company-owned retail stores and its website.