EPW IndiaShare price, financial results, shareholding and management
- Market cap
- ₹285 cr
- Stock P/E
- 27.7peers 16.6
- Book value
- ₹37.4
- Price to book
- 6.64
- EV / operating profit
- 17.9
- Market cap to sales
- 2.65
- ROCE · FY26
- 45.1%
- ROE · FY26
- 42.9%
- ROE, 3-year average
- 112.9%
- Operating margin · FY26
- 15.1%peers 6.9%
- Sales growth, 3 years
- 148.5%
- Profit growth, 3 years
- +157.8%
- Debt to equity
- 0.24peers 0.17
- Borrowings
- ₹10.3 cr
- Interest cover
- 10.2×
- Cash from business / op. profit
- -79%
- Debtor days
- 126
- Pledged
- 0.00%
- Promoter holding
- 71.43%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 421
- High / low since listing
- ₹282 / ₹98
- Dividend yield
- 0.00%
- Face value
- ₹5
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
EPW India share price chart
Close on 6 Nov 2026 · -8.02% on the day · Vol 42,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +1.8%
- 3 months
- +3.5%
- 6 months
- +69.1%
- Since IPO
- +156.0%
- Traded a day, 20 days
- ₹0.17 cr
- Taken for delivery
- 93%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +103% | +158% |
| 3 years, a year | +149% | - |
| Latest half, H2 FY26 | +105% | +224% |
About EPW India: business, products and customers
EPW India buys used laptops, desktops and monitors, repairs and cleans them in its own workshop in Hyderabad, and offers them with a warranty to businesses and to shoppers at its own stores. Its shares trade on NSE Emerge.
EPW India was set up in Secunderabad in 2021 to take over the used computer business that Yousuf Uddin had run since 2008 as a sole proprietorship called Exclusive PC World. It sources used or end-of-life laptops, desktops, Chromebooks and monitors from IT recyclers and partners who take back old machines, and a team of technicians wipes the data, replaces faulty parts, cleans and tests each machine over fifteen to twenty days before it is offered with a one year limited warranty. Sales go in bulk to businesses and institutions and to walk-in buyers at its own shops, which had grown to fourteen properties including stores and warehouses by the time of listing.
Because the company buys finished machines and adds repair work rather than making anything, its main cost is the price of the used devices it buys, and its margin depends on buying cheaply and selling quickly; there is no factory capacity to speak of. As sales have grown, more money has been tied up in stock and in amounts owed by customers, so profit and cash can move apart. A small share of revenue also comes from new electronic goods and from recycling.
Read more about the business
Since October 2024 the company has owned Renavart Recyclers India, which dismantles e-waste such as computers, refrigerators and televisions and recovers metals, plastics and glass for resale to authorised buyers. The company raised ₹31.8 cr in a fresh issue and listed in December 2025; half of the money was set aside for working capital, including credit to business buyers as it moves into Andhra Pradesh, Maharashtra and Delhi.
The offer document compared the company's figures with three listed companies: GNG Electronics, whose revenue in the table was many times EPW's; Newjaisa Technologies, which reported losses in FY25; and Cerebra Integrated Technologies, which reported heavy losses in the years shown. EPW's margins were the highest of the four in the period compared.
From the offer document (Prospectus, December 2025). The FY26 annual report available to us is an AI summary and was not used.
Read the deeper study ↓In its favour
- Sales have grown very fast: 149% a year over three years.
- It earns a high return on the money it uses: ROCE 45% in FY26.
- It has little debt for its size: debt to equity 0.24.
- The promoters own a large part of the company: 71.43%.
To watch
- The customs penalty appeal filed by Yousuf Uddin in August 2025 (Offer document, p.325).
- The customs appeal of Exclusive PC World pending before the tribunal in Hyderabad (Offer document, p.325 to 326).
- Trade with promoter-linked firms such as Exclusive PC World, F1 Traders and Marjaan Traders (Offer document, p.45).
- The company's announcement of 1 October 2026 on acquiring Exclusive PC World Computers & Requisites Trading LLC, listed in the offer document as a promoter group company (Offer document, p.215).
- Customers take longer to pay than before: 126 days in FY26, against 9 in FY23.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
EPW India revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
EPW India half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 31 | 38 | 63.47 |
| Expenses | 28 | 33 | 53.36 |
| Operating profit | 4 | 6 | 10.11 |
| OPM | 11.0% | 15.0% | 15.9% |
| Interest | 0 | 1 | 0.82 |
| Depreciation | 0 | 0 | 0.13 |
| Profit before tax | 3 | 5 | 9.29 |
| Net profit | 2 | 4 | 6.48 |
EPW India profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 7 | 19 | 53 | 107.46 |
| Expenses | 7 | 18 | 47 | 91.20 |
| Operating profit | 0 | 1 | 6 | 16.26 |
| OPM | 1.6% | 6.0% | 11.0% | 15.1% |
| Other income | 0 | 0 | 0 | 0.05 |
| Interest | 0 | 0 | 0 | 1.57 |
| Depreciation | 0 | 0 | 0 | 0.21 |
| Profit before tax | 0 | 1 | 6 | 14.52 |
| Tax rate | 25.0% | 0.0% | 33.3% | 29.0% |
| Net profit | 0 | 1 | 4 | 10.31 |
| EPS ₹ | 6 | 74 | 425 | 11.38 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Earnings per share before FY24 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
EPW India profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 1.6% | 6.0% | 11.0% | 15.1% |
| Tax rate | 25.0% | 0.0% | 33.3% | 29.0% |
| ROCE | · | 90.9% | 62.5% | 45.1% |
| ROE | · | 166.7% | 129.0% | 42.9% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
EPW India debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
EPW India balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 0.10 | 0.10 | 0.10 | 5.74 |
| Reserves | 0 | 1 | 5 | 37.21 |
| Net worth | 0.10 | 1.10 | 5.10 | 42.95 |
| Borrowings | 1 | 0 | 13 | 10.32 |
| Other liabilities | 4.90 | 6.90 | 9.90 | 21.82 |
| Total liabilities | 6 | 8 | 28 | 75.09 |
| Fixed assets | 0 | 0 | 0 | 3.66 |
| Capital work in progress | 0 | 0 | 0 | 3 |
| Investments | 0 | 0 | 0 | 0 |
| Other assets | 6 | 8 | 28 | 68.43 |
| Receivables | · | · | · | 36.95 |
| Inventory | · | · | · | 24.23 |
| Cash | · | · | · | 4.89 |
| Trade payables | · | · | · | 11.49 |
EPW India cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | 0 | 0 | -12 | -12.82 |
| Cash from investing | 0 | 0 | -1 | -6.26 |
| Cash from financing | 1 | 0 | 13 | 22.90 |
| Net cash flow | 1 | 0 | 0 | 3.82 |
| Capital spending | · | · | · | 6.26 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 9 | 56 | 72 | 126 |
| Inventory days | 289 | 91 | 124 | 103 |
| Days payable | 318 | 138 | 62 | 49 |
| Cash conversion cycle | -21 | 9 | 134 | 180 |
| Working capital days | -33 | 1 | 26 | 108 |
EPW India peers and competitors
Listed SME companies in the same industryBy sales, EPW India is number 5 of the 8 listed SME companies in it - hardware.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Esconet Technologies | 365 | 59.4 | 354 | 6.2 | 2.5% | 0.17 |
| Slone Infosystems | 66 | 7.4 | 241 | 9 | 6.9% | 0.24 |
| Richa Info Systems | 136 | 18.2 | 143 | 7.5 | 7.8% | 0.11 |
| Marushika Technology | 94 | 10.5 | 116 | 9 | 13.7% | 0.15 |
| EPW India | 285 | 27.7 | 107 | 10.3 | 15.1% | 0.24 |
| Aztec Fluids & Machinery | 138 | 18.7 | 96.5 | 7.4 | 13.7% | 0.29 |
| Newjaisa Technologies | 57 | - | 40.5 | -17.4 | -41.0% | 0.22 |
| Brisk Technovision | 15 | 15.1 | 30.1 | 1 | 5.7% | 0.11 |
| Median of the 7 others | 94 | 16.7 | 116 | 7.4 | 6.9% | 0.17 |
EPW India shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders has come down.
EPW India shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Dec 25 | Mar 26 | |
|---|---|---|
| Promoters | 71.43% | 71.43% |
| Foreign investors (FIIs) | 3.63% | 3.63% |
| Indian institutions (DIIs) | 9.92% | 5.27% |
| HNIs (over ₹2 lakh each) | - | 2.49% |
| Small holders (up to ₹2 lakh) | - | 11.01% |
| Companies and others | - | 6.17% |
| Number of shareholders | 530 | 421 |
The named holders are at 31 March 2026, beside 29 Dec 2025, each under the group the pattern files them in.
EPW India study: the business from its own documents
Read from 2 of the company's own documentsEPW India so far
From the company's own record
- 30 Dec 2025Listed on NSE Emerge at ₹97
- 31 March 2026Promoters at 71.43%
- 2 Oct 2026Highest close since listing, ₹270.00
EPW India key facts from the filings
Each figure with the document it comes from
- Refurbished share
- 77.33%
- Share of consolidated sales in the half year to September 2025 from refurbished devices; new goods were 12.87% and recycling 9.80%.Offer document, p.147
- Business buyers
- 66.86%
- Share of consolidated sales in the half year to September 2025 made in bulk to businesses; the rest went to retail buyers.Offer document, p.146
- Sales in Telangana
- 70.39%
- Share of consolidated sales in the half year to September 2025 billed in Telangana, where the company is based.Offer document, p.146
- Top ten customers
- 18.47%
- Share of consolidated sales in the half year to September 2025, so no single buyer matters much.Offer document, p.147
- Stores and warehouses
- 14
- Properties at listing, up from one store in 2021 and two in 2023.Offer document, p.152
Show 5 more facts
- Workshop
- 32 technicians
- Working in a 4,500 sq ft repair facility; each machine takes fifteen to twenty days to refurbish.Offer document, p.143
- Recycling capacity
- 1,476 tonnes a year
- At the Renavart subsidiary, fully used in FY25 and 40.71% used in the half year to September 2025.Offer document, p.180
- Promoter firm trade
- 13.91%
- Share of FY25 purchases bought from Exclusive PC World, the founder's proprietorship; in FY24 it took 24.95% of sales.Offer document, p.45 and p.162
- Customs penalty on MD
- ₹1.0 cr
- Imposed on Yousuf Uddin in May 2025 over dealings as proprietor of Exclusive PC World; an appeal has been filed.Offer document, p.324 to 325
- IPO size
- ₹31.8 cr
- Fresh issue of 32,79,600 shares; no shares were sold by existing holders.Offer document, p.1
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
EPW India earns its money by buying used computers cheaply, fixing them in its own workshop and passing them on at a mark-up, mostly to businesses.
Its weak spots are the cash tied up as it grows, its reliance on one state, and the founder's past dealings through a family firm that is under customs penalty.
AverageCan it set its own prices?Buyers come for a working machine at a big discount to a new one, so prices are set by what new and used devices cost rather than by the company.
AverageHow strong is it against rivals?It is one of few organised refurbishers, but the trade is crowded with unorganised sellers and larger rivals.
StrongWho are its customers?Sales are spread over many buyers, with no single customer large, though most sales are in Telangana.
WatchDoes it need a lot of money?It owns little equipment, but every extra sale needs more stock and more credit to customers, which needs borrowing or new capital.
AverageCan it keep finding new work?New stores and business buyers keep sales growing, but there is no order book and supply depends on buying enough used machines.
AverageDo good and bad years swing a lot?Demand for cheaper computers is steady, but the cost of used devices and the price of new ones can move margins.
Who runs EPW India?
Promoters, directors and officers; tap a name for the background
YUYousuf UddinPromoter, Chairman and Managing Director · holds 27.14%
Has over 15 years in IT hardware, e-waste recycling and FMCG and completed intermediate education. Founded Exclusive PC World in 2008 and has led EPW since incorporation; also founder and designated partner of Vasiasat Food Products LLP, which sells packaged drinking water. The offer document records Yousuf Uddin as the brother of the two whole-time directors.
Offer document, p.162, p.197 and p.199MFMohd Fasi UddinPromoter and Whole-Time Director · holds 20.72%
Has over eight years in IT refurbishment and FMCG operations and completed SSC; manages refurbishment, testing, logistics, warranty and after-sales support. A partner in Vasiasat Food Products LLP since 2021.
Offer document, p.197MZMohd Zaki UddinPromoter and Whole-Time Director · holds 20.72%
Has over 12 years in operations, logistics and procurement and completed intermediate education; oversees refurbishment operations, inventory, vendors and quality control, and is associated with Renavart Recyclers.
Offer document, p.197 to 198SNSyed Najaf Imam HussaniChief Financial Officer
Holds a Master of Commerce from Osmania University with more than a decade in accounting and compliance, including nine years as senior accountant at Exclusive PC World; CFO since May 2025.
Offer document, p.207VKVinod Kumar NarvaIndependent Director
A practising chartered accountant and cost accountant with over ten years in accounting, audit and tax; appointed for five years from May 2025 and chairs the audit committee.
Offer document, p.198 and p.204NANukala AshwanthIndependent Director
Assistant company secretary and legal at PSSM Media since 2020, with over five years in secretarial and compliance work; holds a commerce and a law degree. Appointed for five years from May 2025.
Offer document, p.198EPW India latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹63.5 cr (+105%), net profit ₹6.5 cr (+224%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 71.43%.
EPW India announcements
24 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- General Updatesupdate on Acquisition of Exclusive PC World Computers & Requisites trading L.L.CPDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- AgreementsExecution of Supplemental and Amendatory Agreement to avail Cash Credit Facility and Working Capital Term Loan from ICICI Bank LimitedPDF ↗
- Outcome of Board MeetingHeld on September 23, 2026PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 08, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of 05th Annual General Meeting held on September 08, 2026PDF ↗
- Updates'EPW India Limited wishes to inform the Exchange its dilution in the holding of its Wholly-Owned Subsidiary, Renavart Recylers India Private Limited, from 100% PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper Advertisement regarding the 05th Annual General Meeting, Book Closure and e-voting informationPDF ↗
- Updates'Intimation of Book closure_Record Date_05th AGM'PDF ↗
- Record Datethat Record date for the purpose of 05th Annual General Meeting is 01-Sep-2026PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 08, 2026PDF ↗
EPW India annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- FY26 ↗read
EPW India share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on EPW India's data · 10
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe halves of FY26 are shown standalone and the full year consolidated, as the company files them, so the two need not add up.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,14,79,600 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !The two half-years of FY26 add up to ₹101.5 cr of sales against ₹107.5 cr for the full year; both are shown as reported.
- !Earnings per share changes basis between FY25 (₹425.00) and FY26 (₹11.38) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about EPW India
What does EPW India do?
EPW India buys used laptops, desktops and monitors, repairs and cleans them in its own workshop in Hyderabad, and offers them with a warranty to businesses and to shoppers at its own stores. Its shares trade on NSE Emerge.
What is the share price of EPW India?
₹248 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of EPW India?
₹285 cr at the close on 6 Nov 2026, on 1,14,79,600 shares.
What is the P/E of EPW India?
27.7 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are EPW India's revenue and profit?
Revenue ₹107 cr and profit after tax ₹10 cr in FY26.
Who are the promoters of EPW India?
Yousuf Uddin, Mohd Fasi Uddin, Mohd Zaki Uddin; promoters held 71.43% at 31 March 2026.
What was the IPO price of EPW India?
₹97 a share; it listed on 30 Dec 2025.
What is EPW India's website?
www.epwindia.com
More SME companies like EPW India
Other listed SME companies in it - hardware, the closest in size first, each read from its own documents.
- Esconet TechnologiesESCONET · NSE Emerge · IT - Hardware · listed 2024Market cap ₹474 cr
- Aztec Fluids & MachineryAZTEC · BSE SME · IT - HardwareMarket cap ₹147 cr
- Richa Info SystemsRICHA · NSE Emerge · IT - Hardware · listed 2022Market cap ₹125 cr
- Marushika TechnologyMARUSHIKA · NSE Emerge · IT - Hardware · listed 2026Market cap ₹105 cr
- Slone InfosystemsSLONE · NSE Emerge · IT - Hardware · listed 2024Market cap ₹63 cr
- Newjaisa TechnologiesNEWJAISA · NSE Emerge · IT - Hardware · listed 2023Market cap ₹61 cr
Every listed SME company in IT - Hardware → · SME companies listed in 2025 →
Built from 1 offer document, 1 annual report, 24 exchange announcements, 2 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.