Rashi Peripherals and GNG Electronics ride India’s AI and affordable-device demand
Rashi Peripherals reported 61.9% Q1FY27 revenue growth as it expands into AI data centres, services and semiconductors. Refurbished-device seller GNG Electronics raised FY27 growth guidance to 30%, citing stronger demand for lower-cost laptops amid rising memory prices.
What happened
Rashi Peripherals is expanding from IT distribution into AI data centres, services and semiconductors after strong Q1FY27 growth. Refurbished-device seller GNG
Key facts
- India ICT market: US$43 billion in FY24, projected US$75 billion by FY29
- Rashi Q1FY27 revenue: ₹5,101.9 crore, up 61.9%
- Rashi Q1FY27 net profit: ₹104.6 crore, up 69.5%
- Rashi acquired majority stake in VDA Infosolutions, which generated ₹850 crore in FY26
- Rashi-Restar JV revenue target: over ₹950 crore within three years
- GNG Q1FY27 revenue: ₹412.5 crore, up 32.1%
- GNG Q1FY27 net profit: ₹28.9 crore, up 56.2%
- India accounted for 36% of GNG Q1FY27 revenue
- GNG FY27 revenue-growth guidance: 30%
Why this matters
Technology distributors and electronics platforms should evaluate partnerships or acquisitions in refurbishment, after-sales services and AI data-centre supply chains to capture the fastest-growing adjacent profit pools.
What to watch
- Quarterly gross-margin movement, inventory days, receivable days and operating cash flow at Rashi Peripherals.
- Rashi’s disclosed mix from AI data centres, enterprise solutions, services and semiconductors versus lower-margin traditional distribution.
- Global DRAM/NAND contract-price trends and resulting India laptop/PC retail price increases.
- GNG’s refurbished-device supply pipeline, average selling prices, warranty/return rates and mix of enterprise versus consumer sales.
- Indian enterprise IT spending, PC refresh-cycle demand, education procurement and consumer financing delinquency trends.
- Rashi is likely to add AI-server, storage, networking, GPU ecosystem and enterprise-service partnerships while expanding data-centre solution capabilities.
- GNG is likely to secure larger corporate buyback and device-refresh contracts to ensure supply of used laptops, while emphasizing warranty, certification and financing to widen customer adoption.
- Both companies may increase B2B and institutional sales efforts as businesses seek lower-cost fleet upgrades amid rising new-device prices.
- Competitors in IT distribution, electronics retail and recommerce may expand refurbished assortments and promotional financing, raising customer-acquisition costs.