NSE: RPTECH · BSE: 544119
RASHI PERIPHERALS LIMITED
Distributes personal computing hardware, peripherals, enterprise IT and related components to resellers, retailers and enterprise customers across India, running 55 branch offices that cover more than 700 towns and serve 10,000+ customers. FY26 revenue was INR 15,827.337 crore with net profit of INR 282.346 crore and an EBITDA margin of 3.15%. Two named segments drive the P&L: LIT (laptops and IT hardware) grew 24% YoY and contributed 42% of revenue, while PES (peripherals and enterprise solutions) grew 37% YoY, helped by H2 price increases. The India PC market hit a record 15.9 million unit shipments in CY2025, and AI-enabled notebooks grew 129% YoY — the company positions itself as a value-added distributor for AI solutions including NVIDIA DGX Spark, and runs an 8-city AI Bootcamp reaching 2,500+ developers. In June 2026 the company announced a 67% acquisition of VDA Infosolutions for INR 368.50 crore in cash, with VDA's FY26 revenue of about INR 850 crore extending the business into cloud, cybersecurity and enterprise services; a semiconductor subsidiary has also been set up to scale component partnerships. Margins are thin and the biggest swing factor is component pricing — DRAM, NAND and GPU costs were described as firm through FY26 — against employee cost of 1.3% of revenue and other opex of 1.3%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. LIT (Laptops and IT hardware) (42%), PES (Peripherals and enterprise solutions). Asset-light, working-capital-heavy ICT distribution with thin margins
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 11,095 | 13,773 | 15,827 |
| EBITDA (ex other income) | 303 | 303 | 459 |
| margin % | 2.7 | 2.2 | 2.9 |
| Owners' profit | 141 | 208 | 278 |
| EPS, as reported (₹) | 31.14 | 31.57 | 42.12 |
| ROE % · ROCE % | 9.3 · 19.1 | 12.0 · 19.7 | 13.9 · 23.2 |
| Debt / equity (x) | 0.44 | 0.52 | 0.47 |
| Cash from operations | (102) | (299) | 114 |
| Capex | (7) | (8) | (8) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,706 | 2,826 | 2,973 | 3,152 | 4,155 | 4,030 | 4,489 | 5,102 |
| Profit before tax | 83 | 43 | 71 | 80 | 79 | 99 | 114 | 139 |
| Net profit | 70 | 32 | 53 | 62 | 59 | 75 | 87 | 105 |
| EPS (₹) | 10.58 | 4.83 | 7.78 | 9.30 | 8.88 | 11.16 | 12.78 | 15.59 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| GNG ELECTRONICS LIMITED | 8,254 | 58.6 | 10.87 | 42.9 | 17.4 | 18.7 | — | 12.8 |
| RASHI PERIPHERALS LIMITED ◆ | 5,397 | 16.9 | 2.65 | 12.6 | 13.9 | 18.0 | — | 3.4 |
| MOSCHIP TECHNOLOGIES LTD | 3,370 | 123.9 | 8.25 | 56.9 | 8.6 | 7.4 | 40.9 | 10.1 |
| NELCO LTD | 1,625 | 421.3 | 12.61 | 57.2 | 2.6 | 3.1 | 6.3 | 11.9 |
| D-LINK INDIA LTD | 1,430 | 13.3 | 2.83 | 9.4 | 20.6 | 27.2 | 16.6 | 8.6 |
| IVALUE INFOSOLUTIONS LTD | 1,186 | 11.4 | 2.09 | 7.5 | 17.3 | 21.9 | — | 13.4 |
| CONTROL PRINT LIMITED | 951 | 24.4 | 2.11 | 9.8 | 9.7 | 15.5 | 18.8 | 13.4 |
| BHARAT GLOBAL DEVELOPERS LIMIT | 782 | 285.9 | 4.11 | — | (0.1) | (0.1) | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 16.9 | 24.9 | 6 of 16 | 67% |
| P/B | 2.6 | 2.7 | 8 of 16 | 53% |
| ROCE | 18.0 | 14.9 | 5 of 19 | 78% |
| ROE | 13.9 | 9.1 | 5 of 16 | 73% |
| Debt / Equity | 0.5 | 0.1 | 14 of 16 | 13% |
| EBITDA margin | 3.4 | 8.8 | 12 of 13 | 8% |
| Revenue growth | 61.9 | 7.0 | 1 of 15 | 100% |
| Profit growth | 69.5 | 30.0 | 5 of 15 | 71% |
| Market cap | 5397 | 551 | 2 of 19 | 94% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 20 Oct 2026 · NSE levies fine of Rs 1.67 lakh for Reg 17(1A) non-compliance | regulatory legal | medium | — | — |
| 17 Oct 2026 · Joint statutory auditor Deloitte ceases office mid-term | management changes | high | — | — |
| 7 Oct 2026 · Quarterly RTA Confirmation Certificate submitted for Q2 FY27 | compliance | minimal | — | — |
| 25 Sept 2026 · Rashi Peripherals closes trading window ahead of Q2 FY26 results | compliance | minimal | — | — |
| 9 Sept 2026 · 37th AGM results: all 7 resolutions approved; Rs 2 dividend declared | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Rashi Peripherals 37th AGM: dividend and borrowing proposals considered | board shareholder meetings | medium | — | — |
| 4 Sept 2026 · CRISIL reaffirms Rashi Peripherals ratings; facilities enhanced to Rs 2,782 cr | credit debt | medium | — | — |
| 1 Sept 2026 · BTA completed with Rashi Semiconductor Solutions | strategic transactions | high | — | — |
| 25 Aug 2026 · Rashi Peripherals: Independent Director resigns citing governance observations | management changes | medium | — | — |
| 25 Aug 2026 · Clarification on Independent Director Mr. Anil Khandelwal's resignation | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.