GNG Electronics stock doubles in 2026 as AI-driven PC shortage lifts refurbished demand
Refurbished electronics seller GNG posted FY26 revenue of Rs 1,891 crore, up 34% YoY, with net profit surging 91% to Rs 132 crore. India, now its largest market at 33% of revenue, grew 80% to Rs 622 crore. The firm refurbished 727,000 units across 46 countries; shares trade at a rich 56.6x P/E.
What happened
Refurbished electronics seller GNG Electronics saw shares double in 2026 as AI-driven component shortages raised new PC prices, boosting refurbished demand.
Key facts
- shares up 100% in 2026
- revenue Rs 1,891 crore up 34% YoY
- net profit Rs 132 crore up 91%
- EBITDA margin 10.6%
- India revenue Rs 622 crore up 80%
- India 33% of FY26 revenue
- 727,000 units refurbished
- 46 countries
- P/E 56.6x
Why this matters
GNG's 46-country footprint and India leadership (33% of revenue) make it either a premium consolidation target or an acquirer of regional refurbishers to lock in supply before the AI-driven shortage normalizes.
What to watch
- Q1 FY27 India revenue growth rate vs 80% base
- Gross and net margin trajectory (net profit +91% sustainability)
- Used-device sourcing costs and inventory turns
- OEM certified-refurbished program announcements in India
- E-waste / electronics import regulation changes
- P/E vs earnings-revision divergence
- Expect analyst upgrades citing India as growth engine, but rising bar for FY27 guidance
- GNG likely to signal capacity expansion or new-country entry to justify multiple
- Watch for promoter/insider selling into strength given the run-up
- Peers and adjacent resale/circular-economy names re-rate on read-through