Analysts/Institutional Investor Meet/Con. Call Updates

August 05, 2026 To, To, National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, C-1, Block G, Bandra Phiroze Jeejeebhoy Towers, Kurla Complex, Bandra (E), Mumbai 400051 Dalal Street, Mumbai – 400001 NSE Symbol - EBGNG Scrip Code – 544455 Sub: Transcript of Earnings Call with Analysts / Investors pertaining to the Financial Results of the Company for the quarter ended June 30, 2026 - Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/Madam, Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith is the transcript of the Earnings call with Analysts / Investors held on July 30, 2026, post declaration of the Financial Results for the quarter ended June 30, 2026. The same has also been disseminated on the website of the Company. We request you to kindly take the above on records. FOR GNG ELECTRONICS LIMITED Sarita Vishwakarma Company Secretary & Compliance officer Membership No. A59547 “GNG Electronics Limited Q1 FY27 Earnings Conference Call” July 30, 2026 MANAGEMENT: MR. SHARAD KHANDELWAL – FOUNDER AND MANAGING DIRECTOR – GNG ELECTRONICS LIMITED MR. AJAY PANCHOLI – DIRECTOR – GNG ELECTRONICS LIMITED MR. RAAKESH JHUNJHUNWALA – CHIEF FINANCIAL OFFICER –GNG ELECTRONICS LIMITED MODERATOR: MR. AVINASH KARUMANCHI – MOTILAL OSWAL Page 1 of 17 GNG Electronics Limited July 30, 2026 Moderator: Good evening, everyone and welcome to the Q1 FY27 Earnings Call for GNG Electronics Limited. We will begin the call with the opening remarks from the management after which we will have the forum open for the interactive Q&A session. I must remind you that this conference call may include forward-looking statements about the company which are based on the beliefs, opinions, and expectations of the company as on date of this call. These statements are not guarantee for the future performance and involve risks and uncertainties that are difficult to predict. I now hand over the conference to Mr. Avinash Karumanchi from Motilal Oswal for the introduction. Thank you and over to you, sir. Avinash Karumanchi: Thank you team. Good evening, everyone. On behalf of Motilal Oswal Financial Services, I welcome you to the First Quarter FY27 Earnings Call of GNG Electronics Limited. Joining us on the call today are Mr. Sharad Khandelwal, Founder and Managing Director, Mr. Ajay Pancholi, Director, Mr. Raakesh Jhunjhunwala, CFO, and Mr. Rohit Agarwal, Strategy and IR. Now I hand over the call to Sharad ji for his opening remarks. Thank you and over to you, sir. Sharad Khandelwal: Good evening and thank you everyone. I welcome you all to the Q1 FY27 Earnings Call of GNG Electronics Limited. Before I begin, let me say that today marks a special milestone for all of us. Exactly 1 year ago today, GNG Electronics began its journey as a publicly listed company. It has been an extraordinary year and I want to sincerely thank our shareholders, investors, colleagues, customers, and partners for believing in our vision. Trust is never given permanently, it must be earned every single day. That's a responsibility we take very seriously. The world has changed remarkably over the last few years. In technology, change has never waited for anyone. But every so often, there comes a moment when the changes are not temporary, they are structural, they reshape industries, they redefine markets, and they create opportunities for those prepared to see them. I believe we are living through one of those moments today. Artificial intelligence is transforming computing, supply chains are being reshaped, the economics of owning a computer are changing rapidly. Around the world, businesses, students, governments, and families still need access to reliable computing, but they are increasingly asking a different question. They are no longer asking "Does it have to be new?", They are asking "Does it work well?", "Can I trust it?", "does it create value?" That question lies at the heart of everything we do at Electronics Bazaar and I believe it is why our business has never been more relevant than it is today. Let me take you through our Q1 performance highlights, the industry developments, and the strategic progress we have made before handing over to Raakesh ji for the financial details. We delivered another strong set of results. Revenue grew 32% year-on-year to INR412.5 crores, supported by healthy demand across India and our international markets, particularly the United States, Europe, and the Middle East. Gross margin expanded to 24.65%, improving by 329 basis points over last year and 542 basis points over the previous quarter. Page 2 of 17 GNG Electronics Limited July 30, 2026 These numbers matter, but what gives me even greater confidence is what lies behind them. They reflect a business that is becoming stronger, more efficient, and more relevant with every passing quarter. We have started the year comfortably ahead of our FY27 guidance and Raakesh ji will take you through the financial details in a few minutes. The world of technology is changing before our eyes. Over the last few quarters, we have spoken about three powerful trends the rise of artificial intelligence, the growing shortage of critical components, and the increasing cost of new computers. Those trends have not only continued, they have become even stronger. Memory prices have risen a further 5% to 10% in the last quarter alone. 8GB DDR5 now stands at $126 and 16GB DDR5 at $231 as of June 30th. Since October 2025, these prices have more than doubled1. The situation has only intensified further. Effect of price increase in new PCs has further started to catch up. Price of an entry-level 8GB RAM and 512GB SSD laptop has further risen from INR40,000 to INR48,000. IDC continues to revise its outlook downward for new PCs. As previously highlighted, IDC now projects global PC shipments to decline 11.3% for full year 2026 with conditions expected to worsen in the second half, driving a 20% year-on-year decline in that period alone. Excluding the growth that would otherwise have materialized, this translates to a unit decline of ~30 million in just two quarters, making the impact considerably more significant and visible. The primary driver remains the persistent memory shortage for which no meaningful relief is expected before end of 2027. As new devices become increasingly unaffordable, more and more consumers and enterprises are turning to Electronics Bazaar's premium refurbished devices with proven warranty. But I also want to address something directly. Even in a scenario where memory prices were to correct someday, our business proposition remains fully relevant and growing. The refurbished PC market is growing rapidly not just because of supply constraints in new devices, but because of a fundamental shift in how people think about value, reliability, and sustainability in technology. There was a time when buyers were hesitant about refurbished computers and I am happy to report that we have made it easier and more comfortable for people to buy our premium refurbished computers, a product that consistently delivers on its promise, a warranty that gives real peace of mind, and a buying experience that builds user confidence. AI is accelerating computing demand across every sector. What is changing is not the need for computing, it is where that demand is being met. In mature markets, the pattern is well established. In automotive, used car sales are more than twice new car sales. In smartphones, refurbished has grown from a niche to a meaningful share of global shipments. The PC market is following a similar trajectory and we have been able to make the market more organized not only in India, but in international markets too by offering our premium refurbished computers through our global distribution network. 1 The prices of DDR [Showing first 8,000 characters — download PDF for full document]