GNG Electronics Ltd. Share Price

GNG ELECTRONICS (ELECTRONICS BAZAAR) FUNDAMENTALS

GNG Electronics (NSE: EBGNG, BSE: 544455), Mumbai + Dubai, incorporated 2006, listed July 2025, is India’s largest refurbisher of laptops and ICT devices under the “Electronics Bazaar” brand - buying used enterprise device fl eets,refurbishing them (“looks like new, works like new”) and selling across 49 countries through 5,100+ customer touchpoints . Acircular-economy play on enterprise IT refresh cycles, with the overseas arm (Electronics Bazaar FZC, Dubai) earning ~30%gross margins vs ~21% in India. Event 1 - growth is accelerating and management RAISED guidance. FY26 consolidated revenue Rs 1,891 Cr +34% , PAT Rs 132Cr +91% ; Q1 FY27 revenue Rs 412.5 Cr +32.1%, EBITDA +50.4% (margin 12.8%, +156bp), PAT Rs 28.9 Cr +56.2%. On the Q1 callmanagement raised FY27 revenue-growth guidance from 25% to 30% and PAT-margin expansion from +0.5% to +0.75-1.0%per year - with volume growth 18% and the rest from realisation/mix (“negligible competition”, de-commoditisation). A Redington distribution partnership (India’s #1 IT distributor) plus Ingram/Supertron channels opens the domestic organisedmarket. Event 2 - but the cash machine runs backwards.

🚨 Refurbished Devices + Deleveraging = A New Growth Phase?

🚨 GNG Electronics: Refurbished Devices + Deleveraging = A New Growth Phase? GNG Electronics (Electronics Bazaar) is emerging as a major player in India’s refurbished ICT ecosystem, combining rapid device scaling with a significantly stronger balance sheet. 📊 FY26 HIGHLIGHTS • Consolidated Revenue: ₹1,891 Cr | +34% YoY • Consolidated PAT: ₹132 Cr | +91% YoY • Device volume: 7.3 lakh units • Device volume CAGR: ~43% since FY23 • Debt/Equity: 1.97x → 0.55x 🔥 THE CORE GROWTH STORY The business is benefiting from both cyclical device replacement and the structural shift toward re-commerce and sustainable IT consumption. GNG is focusing on: → Direct sourcing from corporates & enterprises → Wider international sourcing network → Better device quality control → Higher procurement efficiency → Expansion of refurbished ICT volumes 📈 MARGIN + PROFITABILITY Consolidated net profit margin improved from 4.89% → 6.98% in FY26. That means the company is not only growing volumes — it is also converting that scale into stronger profitability. 💰 IPO EXECUTION The company raised ₹400 Cr through its IPO in July 2025. The key positive: ₹320 Cr was fully utilised for subsidiary debt repayment, directly reducing leverage. This helped bring consolidated Debt-to-Equity down sharply to 0.55x. 🚀 NEXT OPPORTUNITY The bigger opportunity lies in creating a stronger global sourcing network while increasing direct procurement. More direct sourcing could potentially improve: ✅ Procurement economics ✅ Gross margins ✅ Device quality ✅ Inventory visibility ✅ Supply consistency ⚠️ KEY RISKS •

India is entering a new industrial growth cycle

India’s New Industrial Revolution India is entering a new industrial growth cycle — driven by private participation, government incentives, localisation and global demand.

Refurbished Devices + Deleveraging = A New Growth Phase?

🚨 GNG Electronics: Refurbished Devices + Deleveraging = A New Growth Phase? GNG Electronics (Electronics Bazaar) is emerging as a major player in India’s refurbished ICT ecosystem, combining rapid device scaling with a significantly stronger balance sheet. 📊 FY26 HIGHLIGHTS • Consolidated Revenue: ₹1,891 Cr | +34% YoY • Consolidated PAT: ₹132 Cr | +91% YoY • Device volume: 7.3 lakh units • Device volume CAGR: ~43% since FY23 • Debt/Equity: 1.97x → 0.55x 🔥 THE CORE GROWTH STORY The business is benefiting from both cyclical device replacement and the structural shift toward re-commerce and sustainable IT consumption. GNG is focusing on: → Direct sourcing from corporates & enterprises → Wider international sourcing network → Better device quality control → Higher procurement efficiency → Expansion of refurbished ICT volumes 📈 MARGIN + PROFITABILITY Consolidated net profit margin improved from 4.89% → 6.98% in FY26. That means the company is not only growing volumes — it is also converting that scale into stronger profitability. 💰 IPO EXECUTION The company raised ₹400 Cr through its IPO in July 2025. The key positive: ₹320 Cr was fully utilised for subsidiary debt repayment, directly reducing leverage. This helped bring consolidated Debt-to-Equity down sharply to 0.55x. 🚀 NEXT OPPORTUNITY The bigger opportunity lies in creating a stronger global sourcing network while increasing direct procurement. More direct sourcing could potentially improve: ✅ Procurement economics ✅ Gross margins ✅ Device quality ✅ Inventory visibility ✅ Supply consistency

🔥 Q1 FY27 UPDATE: Small-Caps That Raised Their Guidance! 📈

🔥 Q1 FY27 UPDATE: Small-Caps That Raised Their Guidance! 📈 These companies have delivered stronger-than-expected business momentum and upgraded their outlook. 🚀

GNG Electronics – Technical View, Demand and supply

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