Elevated inventory and interest cost risk
Net debt stood at ₹466 crore with gross debt of ₹557 crore. Elevated inventory levels could pressure interest costs if demand slows or memory prices decline.
EBGNG / Q3-FY26 / risks
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GNG Electronics · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Memory price reversal risk
If memory prices normalize earlier than expected (management sees stabilization by end-2027), the pricing advantage and margin tailwind could diminish.
Supply availability risk from deferred new PC purchases
If customers defer new PC purchases, sourcing of used devices could tighten, potentially impacting volume growth despite elevated inventory.
Working capital intensity may limit ROE
Working capital days remain high at 120-130 days. As international business grows, management has not outlined a clear path to reduce working capital, which could constrain returns.