Robust quarterly growth, margin gains and a blockbuster IPO have strengthened GNG Electronics’ position as a global ICT refurbisher, riding rising demand for sustainable devices.
GNG Electronics Limited, a known name among global refurbishers of ICT devices, has posted strong financial results for the quarter ended 30 June 2025. The company reported revenue from operations of almost ₹3.12 billion in Q1 FY26, up 22.31% from approximately ₹2.55 billion in the same quarter last year.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 27.9% year-on-year to ₹351.7 million, compared with ₹275 million in Q1 FY25. Profit after tax (PAT) jumped 52.4% to ₹185.2 million from ₹121.5 million. Margins also improved, with gross margin expanding to 21.4% from 20.2% a year ago and a significant rise from 15% in Q4 FY25. EBITDA margins stood at 11.3% against 10.8% last year, while PAT margins climbed to 5.94%.
Sharad Khandelwal, Managing Director of GNG Electronics, said the results reflected “resilient performance with healthy revenue growth, enhanced margins, and profitability in line with expectations.”
He added that GNG is well-positioned to benefit from growing global demand for affordable and sustainable technology, supported by its strong international presence, procurement ecosystem and ESG focus.
The company completed its initial public offering (IPO) in FY25, which received a strong investor response and was oversubscribed multiple times. The ₹4.6 billion IPO in FY25 was oversubscribed over 150 times, with strong demand from QIBs and retail investors. Shares listed at nearly 50% above the issue price, reflecting robust market interest.
The company’s growth has been underpinned by rising adoption of refurbished devices. In FY25, GNG refurbished 591,000 devices, more than doubling from 248,000 in FY23.
Its customer base expanded to 4154 from 1833 during the same period, supported by a procurement network of 557 partners, including corporates, IT asset disposal firms and major OEMs.
GNG also holds Certified Refurbishment Partner status with HP and Lenovo, with five advanced facilities in India, the UAE and the US, equipped with L1–L3 repair processes.
