The Company is supported by a growing global procurement network of 557 partners, including corporates, IT asset disposal companies, and leading OEMs
FinTech BizNews Service
Mumbai, October 15, 2025: GNG Electronics is India’s largest refurbisher of laptops and desktops and among the largest refurbishers of ICT Devices overall, both globally and in India. Mr. Sharad Khandelwal, Founder and Managing Director, firmly believes that GNG Electronics has a good headroom, both for bottom line and top line expansion.
Diverse customers
Customer base of GNG Electronics is diverse. Its customers are the
large companies, mid-companies, small & medium businesses (SMBs),
schools, colleges, as well as startups, AI users, and graphic designers.
Mr. Sharad Khandelwal, Founder and Managing Director, states: ‘All kind
of people have need and requirement of this kind of device, which is one
third of the price of the new and looks like new, works like new with a
warranty. We primarily focus on our ultimate customer, because here we
get appreciation for the warranty and quality.”
Good Headroom For Bottom Line Expansion
During FY25, GNG Electronics refurbished 5.91 lakh devices, a sharp
rise from 2.48 lakh in FY23, reflecting the strong demand for its products
and services. A typical used phone or car is sold at 40% to 50% of price
of a new phone or car. GNG Electronics has a good headroom, both for
bottom line and top line expansion, feels Mr. Khandelwal: “Being one of
the largest nations on the planet, and the fastest growing major
economy, there is no doubt in my mind that overall computer
requirement in our nation will increase, and refurbished computers will
play an important role in this. Since we sell our product typically at 30%
price of a new computer, we have a good headroom for bottom line
expansion. In terms of top line, we are a small fraction of large and
growing market. People are more open to using refurbished devices.
People are more open to selling their existing assets when they get
comfort around privacy and they are offered fair price. As India’s largest
and among the world’s leading refurbishers of ICT devices, we are
strategically positioned to benefit from rising global demand for
affordable and sustainable technology.”
Getting closer to corporate & govt customers
The Company is supported by a growing global procurement network of
557 partners, including corporates, IT asset disposal companies, and
leading OEMs. In its goal to reach closer to corporate and government
customers, GNG Electronics has initiated a project in India and US
market. Mr Khandelwal adds: “This will help us increasing our top line and
bottom line in these markets and other markets too. This business is
recession proof, works in both up cycle and down cycle of economy. Our
business has good headroom for expansion both domestically and
internationally from both top line and bottom line perspective. In terms of
top line, we see ourselves growing at 25% year on-year. For bottom line,
we see margin of opportunity of 75 bps to 100 bps year-on-year each
year for the next few years.”
Channel partners
It is very, very important to note, while one can buy brand new product
from various sources, it is difficult to buy refurbished product from
anybody. Mr. Khandelwal explains: “So you need to build a lot of trust
and credibility and channel strength allows us to give very, very large
reach. Very important also point to note is that for a channel partner, it is
easy, relatively easy to buy a brand-new product from various sources.
To buy a refurbished laptop, the supplier needs to have a very, very
consistent track record of servicing, warranty, and delivering quality
products. On the supplier front, we have a solution-centric approach.”
Most of the sales of GNG Electronics is through channel partners.
Mr Khandelwal observes: “Channel is very, very cost efficient and it gives an
extreme high degree of reach. Computers globally are done in this
manner only where major OEMs use the channel strength to reach
ultimate customers. We have initiated a project in which we are going to
select corporates and governments corporates in the US and Indian
market. Channel gives us a lot of amplification and we support channel
partners with superior product and warranty and that gives us a lot of
reach. Channel is our ally and we feel that's the best cause of this
business. We use our channel strength built over years to reach the
ultimate customer.”
Increasing scale, enriching penetration
GNG Electronics is focusing on scaling it up. Mr. Ajay Pancholi,
Director, GNG Electronics, explains: “We are doing precisely what
we have been doing historically. Only thing is that we are increasing scale.
In terms of focus on ICT devices, the focus continues to remain on
laptops and computers primarily. And we are trying to do better what
we have historically been doing. We just need to enhance and enrich the
penetration across markets. When I say that, I think its most important
that we are still scratching the surface in terms of the opportunity
amongst various banks in India, various IT companies in India. So, we
need to penetrate more. And on that perspective, we are increasing our
focus on the procurement side of it. And of course, once we do that, of
course, it goes across the three verticals, three important verticals. One
is the procurement, the execution part of it, as well as the sales part of it.
So, we are strengthening all these functions to achieve the growth
targets that we have put ahead of us.”
The scale is not necessarily number of corporates. Mr. Pancholi
elaborates: “We have had acquisitions from a single corporate ranging
from 20 to 25,000 units. As against, say, we have 10 corporates
supplying to 2,000 units that -- so number of corporates is not most
important factor. Size and scale is important. So, just as an example,
with one of the banks, we have acquired actually 70,000 units over two
or three tranches in the last 4, 5 months. That will give you a sense of
scale. Even if we have some of the large IT companies, some of the
large private sector banks coming on board. That adds to significant size
and scale. So, we look at it from that perspective.”
