EPW India IPO Review & Recommendations

EPW India IPO Peer Comparison

EPW India Ltd. peer comparison with similar listed entities. (As on March 31, 2025)

Notes:

• All the financial figures are taken on standalone basis.
• The details of the issuer company are taken as on 31.03.2025 from Restated Financial Statements.
• The current market price of the Newjaisa Technologies Limited and Cerebra Integrated Technologies Limited is taken as on 21.07.2025 and for GNG Electronics Limited is taken as on 31.07.2025.
• PE Ratio of GNG Electronics Limited is taken as on 31.07.2025 from the NSE website. PE of New Jaisa Technologies Limited and Cerebra Integration Technologies Limited is not mentioned on the website of the exchange.
• Financial figures and ratios such as face value, EPS, RONW, NAV and Total Income is taken from Audited financials of the respective companies as on 31.03.2025.
• GNG Electronics Limited operates in a similar business segment, focusing on the refurbishing of used IT assets and their sale both domestically and internationally. Although the peer company operates on a larger scale compared to the issuer, both are engaged in the same line of business.
• Newjaisa Technologies Limited differs from our company. While Newjaisa operates exclusively through an online sales platform, our company conducts sales through its own physical stores, i.e., via an offline channel. Newjaisa Technologies has been included as a peer company solely due to the lack of other comparable peers and its presence in the same business segment.
• Cerebra Integrated Technologies Limited operates across multiple business segments, including refurbishing, Producer Responsibility Organisation, recycling, and enterprise solutions. In contrast, the issuer company is exclusively engaged in the refurbishing of used IT assets. Due to the absence of directly comparable peer companies, Cerebra Integrated Technologies Limited has been included as a basis for comparison.