| Revenue guidance | 30.0% → 40.0% Raised by 10.0 percentage points |
|---|---|
| Management target | Revenue 40.0% FY27 |
| Revenue growth | Revenue +42% YoY in Q2; H1 +38%; volume and realisation driven. |
|---|---|
| Margins | Gross margin 25.1%, expanding; management calls expansion sustainable. |
| Demand visibility | Refurb demand rising as new PC prices climb; IDC sees H2 shipments down 20%. |
| Management confidence | Over-optimistic; 'permanent price reset' claims; guidance raised mid-call. |
Growth
Revenue ₹624.8 Cr, +42% YoY; H1 ₹1,037 Cr, +38%. Volume-led (~25%) plus ~11% realisation gain, partly mix-driven.
Outlook
Guides FY27 revenue +40% (raised from 30%). Net margin up ~150 bps over FY26. Tax rate guided 14–15%.
Risks
Inventory elevated; net debt ₹427 Cr vs ₹406 Cr last quarter. H1 tax rate ~18% vs 10.6% FY26. IDC sees H2 PC shipments down ~20%.
Last quarter's promises, checked
Delivered
- Rev growth guided +30% → H1 +38%, Q2 +42% (= BEAT; FY open)
- PAT margin growth guided +0.75–1pp → ~+1.5pp (= BEAT)
- Growth won't slow from Q1 +32% → Q2 +42% (= BEAT)
Partly delivered
- Inventory ~₹700 Cr at Q1, 'manage WC prudently' → Q2 inventory up, net debt ₹406→₹427 Cr (= PARTIAL)
Missed
- Tax rate guided 10–12% → H1 ~18% (= MISS)
- Opex leverage 'kicks in very soon' → employee cost outgrowing revenue (= MISS)
- Refurb price ~30% of new, aim 35%→50% → still ~30% (= MISS; disclaimed as non-guidance)
Earnings Call Transcript filed with NSE, NSE: EBGNG. Summary written with AI assistance from the document.
GNG Electronics Ltd: key numbers
- Share price
- ₹687.20
- Market cap
- ₹7,835 Cr
- Revenue (annual)
- ₹1,891 Cr
- Net profit (annual)
- ₹131.6 Cr
- P/E (TTM)
- 55.0×Sector 42.1×
- Promoter holding
- 71.77%-3.00% QoQ
- FII holding
- 5.54%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from GNG Electronics Ltd
All →GNG Electronics Investor Presentation: Key Takeaways
Q2 FY27 revenue ₹625 Cr (+42% YoY), EBITDA ₹94 Cr (15.0% margin), PAT ₹56 Cr (+72.5%). H1 revenue ₹1,037 Cr (+38%). Gross margin up 515 bps to 25.1% on refurbished-ICT tailwinds.
GNG Electronics Other Announcement
CARE Ratings reported no deviation in GNG Electronics' IPO proceeds use for the quarter ended September 2026. Usage was Rs 3.63 crore of prior issue expense reimbursements.
GNG Electronics Q2 FY27 Results: Net Profit ₹56.4 Cr, Up 72.5% YoY
GNG Electronics Ltd reported revenue from operations of ₹624.8 Cr (+42.0% YoY) and net profit of ₹56.4 Cr (+72.5% YoY) for Q2 FY27.
- Key figure
- Net profit ₹56.4 Cr · +72.5% YoY
GNG Electronics Board Meeting Date
GNG Electronics will hold a board meeting on 3 November 2026 to consider unaudited half-year results. The trading window stays closed until 5 November 2026.
GNG Electronics Other Announcement
GNG Electronics Ltd filed its quarterly shareholding pattern for the period ended September 30, 2026, in compliance with SEBI Regulation 31(1)(b).
GNG Electronics Capacity Expansion
GNG Electronics' subsidiary Electronics Bazaar FZC has leased a refurbishment facility in Sharjah, UAE. This expansion aims to increase the company's operational refurbishing capacity.
- Execution
- 25 years
- refurbishment facility
- 2238.77 sq. mtrs.