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 ₹ 4,803 Cr.
- Current Price ₹ 421
- High / Low ₹ 485 / 239
- Stock P/E 120
- Book Value ₹ 44.3
- Dividend Yield 0.00 %
- ROCE 16.6 %
- ROE 13.4 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 73.9% CAGR over last 5 years
Cons
- Stock is trading at 9.52 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 33.0 to 45.0 days.
- Company's cost of borrowing seems high
- Working capital days have increased from 39.2 days to 124 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
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 225 | 272 | 356 | 449 | 589 | 711 | 918 | |
| 220 | 263 | 339 | 430 | 555 | 659 | 835 | |
| Operating Profit | 5 | 9 | 16 | 19 | 33 | 52 | 82 |
| OPM % | 2% | 3% | 5% | 4% | 6% | 7% | 9% |
| 1 | 1 | 1 | 3 | 5 | 11 | 5 | |
| Interest | 5 | 5 | 8 | 10 | 20 | 28 | 26 |
| Depreciation | 0 | 1 | 1 | 1 | 2 | 7 | 7 |
| Profit before tax | 1 | 3 | 9 | 12 | 16 | 28 | 53 |
| Tax % | 23% | 26% | 27% | 25% | 32% | 33% | 25% |
| 1 | 3 | 7 | 9 | 11 | 19 | 40 | |
| EPS in Rs | 1,719.07 | 2,283.51 | 2,750.00 | 1.92 | 3.50 | ||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 28% |
| 3 Years: | 27% |
| TTM: | 29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 74% |
| 3 Years: | 65% |
| TTM: | 118% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 15% |
| Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 42 | 44 | 59 | 68 | 78 | 71 | 482 |
| 54 | 72 | 100 | 124 | 244 | 225 | 139 | |
| 39 | 25 | 6 | 10 | 24 | 24 | 36 | |
| Total Liabilities | 135 | 141 | 165 | 202 | 346 | 340 | 680 |
| 3 | 2 | 2 | 3 | 30 | 31 | 38 | |
| CWIP | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Investments | 15 | 15 | 15 | 15 | 22 | 15 | 115 |
| 117 | 124 | 148 | 184 | 295 | 294 | 528 | |
| Total Assets | 135 | 141 | 165 | 202 | 346 | 340 | 680 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -24 | -17 | -18 | -11 | 88 | -9 | -127 | |
| -16 | 0 | 1 | -1 | -27 | 4 | -111 | |
| 48 | 23 | 18 | 17 | -23 | -21 | 276 | |
| Net Cash Flow | 8 | 6 | 1 | 5 | 38 | -25 | 39 |
| Free Cash Flow | -27 | -18 | -18 | -13 | 65 | -17 | -140 |
| CFO/OP | -493% | -186% | -93% | -43% | 275% | -1% | -138% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 95 | 44 | 58 | 45 | 40 | 14 | 45 |
| Inventory Days | 67 | 91 | 71 | 83 | 96 | 103 | |
| Days Payable | 68 | 19 | 6 | 6 | 15 | 10 | |
| Cash Conversion Cycle | 95 | 116 | 123 | 122 | 121 | 108 | 45 |
| Working Capital Days | 16 | 24 | 37 | 32 | -17 | 11 | 124 |
| ROCE % | 8% | 12% | 12% | 14% | 17% | 17% |
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)-Newspaper Publication
2d - 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.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
5 May - GNG Electronics filed FY2026 secretarial compliance report; prior annual report delay fine of Rs1,22,720 was withdrawn.
Concalls
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May 2026TranscriptPPT 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.