Event Type: This was an earnings conference call pertaining to the financial results for the quarter and half year ended September 30, 2026 (Q2 & H1 FY27).

Date and Time: The call was held on Tuesday, November 03, 2026. A specific time and time zone were not disclosed in the provided transcript.

Purpose: The stated purpose of the call was to discuss the company's Q2 and H1 FY27 financial results and provide a business update.

Earnings Announcement Timing: The call was held post the declaration of the financial results.

Management Participants: The following management participants were on the call:

  • Mr. Sharad Khandelwal – Founder and Managing Director
  • Mr. Ajay Pancholi – Director
  • Mr. Raakesh Jhunjhunwala – Chief Financial Officer
  • Mr. Rohit Aggarwal – Strategy and Investor Relations

The call was moderated by Mr. Avinash Karumanchi from Motilal Oswal Financial Services Limited.

Availability of Materials: The company disclosed that the transcript of the earnings call was being filed with the exchanges and had been disseminated on the company's website.

UPSI Statement: The moderator's opening remarks included a standard caution that the call may contain forward-looking statements based on beliefs and opinions of the company as of the date of the call, which are not guarantees of future performance. The company did not include a specific statement confirming that no Unpublished Price Sensitive Information (UPSI) would be shared.

Financial Period Discussed: The call focused on the financial results for the quarter and half year ended September 30, 2026 (Q2 & H1 FY27).

Financial Highlights & Guidance:

  • Q2 FY27 Performance: Consolidated revenue was INR 624.8 crores, up 42% YoY from INR 439.9 crores. Gross Margin was 25.1%, an improvement of 515 basis points YoY.
  • H1 FY27 Performance: Revenue was INR 1,037 crores, up 38% YoY. Gross Margin was 24.9%, an improvement of 438 basis points.
  • Growth Drivers: Growth was broad-based across India (45% YoY) and international markets (~40% YoY).
  • Volume & ASP: In Q2, the company processed approximately 225,000 units. Laptops constituted 78-80% of revenue. The Average Selling Price (ASP) for laptops was approximately INR 31,000 (up from INR 28,000 YoY).
  • Revised Guidance: Management revised its full-year FY27 guidance upwards. Revenue is now expected to grow by 40% over FY26 (previous guidance not stated in transcript). The PAT margin is expected to improve by 150 basis points over FY26 (up from a previous guidance of a 100 bps improvement).
  • Tax Rate Guidance: The effective tax rate for FY27 is expected to be between 14% to 16% (compared to 10.6% in FY26).

Strategic Themes:

  • Industry Tailwinds: Management highlighted a severe global shortage of memory chips (DRAM, NAND), citing commentary from Micron, SK Hynix, and Michael Dell projecting the constraint to last through 2030 due to AI sector demand. This has driven new laptop prices up by approximately 80% YoY.
  • Value Proposition: The increased price gap between new and refurbished laptops (from ~INR 70 to ~INR 126 on a normalized scale) strengthens the company's value proposition and provides room to increase its own ASPs as a percentage of the new price (from ~30% towards 40-50%).
  • Brand Building: The company is focused on decommoditizing the refurbished market by building the "Electronics Bazaar" brand, backed by a 1-3 year warranty. It has partnered with influencer "Technical Guruji" (Gaurav Chaudhary) for marketing campaigns.
  • Expansion: The company is expanding its global footprint, supplying to 55 countries (up from 49 in Q1). It plans to expand into the Asia-Pacific region (Singapore, Vietnam, Japan, Australia, New Zealand, ASEAN).
  • Operational Metrics: As of September 2026, customer touchpoints were 5,542, the supply base was 820, and the employee count was 2,811.

Additional Notes Section

Attachments: The regulatory filing intimates that the transcript of the earnings call was enclosed and disseminated.

Financial Data: This announcement itself did not contain the full financial results but was a disclosure of the call transcript that discussed those results. Significant financial figures from the call are summarized above.

Logistical Details: Dial-in numbers and access codes were not included in this transcript disclosure.