Computers Hardware & Equipments industry
29 companies · ₹28,058 cr · 5 with AI deep dives · Q1FY27 report
Price-driven revenue hits panel peak, but AI budget shifts and consumer stress question cycle durability
- Revenue YoY
- +50.3%
- EBITDA margin
- 3.7%
- -80bps YoY
- Price, 1 year
- +2.4%
- 67% of names up
- P/E vs own 5y
- +4.8%
- 24.1x now
Exhibit 1The quarter in numbers
constant panel of 8 companies above ₹500 cr- Jun 26
- 6,144 cr
- Mar 26
- 5,662 cr
- QoQ
- +8.5%
- Jun 25
- 4,089 cr
- YoY
- +50.3%
- Peak
- 6,144 cr
- vs peak
- 0.0%
- Jun 26
- 3.7%
- Mar 26
- 4.0%
- QoQ
- -30bps
- Jun 25
- 4.5%
- YoY
- -80bps
- Peak
- 4.5%
- vs peak
- -80bps
Breadth: 70% of 10 companies grew revenue year on year (was 88% a quarter earlier) and 40% expanded margin (was 38%).
Exhibit 2What it costs
15.8x - 43x across the panel todayThe median name trades at 24.1x, +4.8% against this industry's own 5-year median of 23.0x, and -67.2% against its own peak of 73.6x.
Exhibit 3Structure
₹28,058 crGNG Electronics Ltd is 26% of this industry by market cap. The top 5 are 73.1% and the top 10 are 91.7%.
Exhibit 4Screen
P/E below the sub-industry median of 24.11x, 5y ROCE above its median of 14.04%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (25 of 29)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹1,419 cr
- P/E
- -
- EV/EBITDA
- 150006.0x
- ROCE
- -1.4%
- Margin
- -37.0%
- Rev YoY
- -100.0%
- Mcap
- ₹131 cr
- P/E
- 17.2x
- EV/EBITDA
- 10.5x
- ROCE
- 19.8%
- Margin
- 14.3%
- Rev YoY
- +12.4%
- Mcap
- ₹34 cr
- P/E
- -
- EV/EBITDA
- -1.0x
- ROCE
- -86.4%
- Margin
- -15.6%
- Rev YoY
- -82.1%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30Memory, SSD, and CPU prices have risen sharply - in some segments described as doubling or tripling - and are the single largest driver of sector revenue growth this quarter. It…
- Rashi Peripherals Ltd (Q1 FY27): “broadly speaking, 30%-35% has come from the price increase... all our T2 partners are…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
Create a free account →