EPW India IPO Review & Recommendations

EPW India IPO Peer Comparison

EPW India Ltd. peer comparison with similar listed entities. (As on September 30, 2025)

Notes:

• All the financial figures are taken on a standalone basis.
• The details of the issuer company are taken as of September 30, 2025, from the Restated Financial Statements.
• The current market price of the Newjaisa Technologies Limited, Cerebra Integrated Technologies Limited and GNG Electronics Limited is taken as of 08.12.2025
• The P/E ratio of GNG Electronics Limited is derived from the BSE as of December 15, 2025. The PE of Newjaisa Technologies Limited and Cerebra Integration Technologies Limited is not mentioned on the NSE website.
• 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 September 30, 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 because there are no other comparable peers and because it operates in the same business segment.
• Cerebra Integrated Technologies Limited operates across multiple business segments, including refurbishing, Producer Responsibility Organisation, recycling, and enterprise solutions.