Rashi Peripherals Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Rashi Peripherals Ltd filed with BSE on 11 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Rashi Peripherals reported consolidated revenue growth of about 62% year-on-year to Rs 5,102 crores for Q1 FY27, with EBITDA up 55% and PAT up 69%. Management attributed the growth to a PC refresh cycle, an AI PC transition, and rising memory and component prices, alongside gains in market share. The company also announced a majority stake acquisition in VDA Infosolutions and a semiconductor joint venture with Restar Corporation of Japan.
2 statements from this call are not shown because their supporting quotes could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue: Rs 5,100 crores (Q1 FY27)
p. 4
“On a consolidated basis, revenue grew 61.9% year-on-year to Rs 5,100 crores, with EBITDA growing 50% to Rs 155 crores and PAT growing at 69.5% to Rs 105 crores with diluted EPS of Rs 15.25.”
Kapal Pansari, page 4 of the filed PDF · View the filing
Revenue from operations (consolidated): Rs. 5,102 crores (Q1 FY27)
p. 5
“On a consolidated basis, revenue from operations stood at Rs. 5,102 crores, up 62% rounded off year-on-year.”
Himanshu Shah, page 5 of the filed PDF · View the filing
EBITDA (consolidated): INR 173 crores (Q1 FY27)
p. 5
“EBITDA grew 55% to INR 173 crores and EBITDA margins at 3.38%.”
Himanshu Shah, page 5 of the filed PDF · View the filing
PAT (consolidated): INR 105 crores (Q1 FY27)
p. 5
“Profit after tax surged 69% to INR 105 crores delivering a PAT margin of 2.05%.”
Himanshu Shah, page 5 of the filed PDF · View the filing
PBT (consolidated): INR 139 crores (Q1 FY27)
p. 5
“Profit before tax grew 73% to INR 139 crores with PBT margins expanding to 2.72%.”
Himanshu Shah, page 5 of the filed PDF · View the filing
Revenue (standalone): INR 4,832 crores (Q1 FY27)
p. 6
“Revenue came in at INR 4,832 crores, up 58% year-on-year.”
Himanshu Shah, page 6 of the filed PDF · View the filing
EBITDA (standalone): INR 164 crores (Q1 FY27)
p. 6
“EBITDA grew 50% to INR 164 crores with margins of 3.38%.”
Himanshu Shah, page 6 of the filed PDF · View the filing
PAT (standalone): Rs. 97 crores (Q1 FY27)
p. 6
“PAT increased 65% to Rs. 97 crores at a margin of 2.01%.”
Himanshu Shah, page 6 of the filed PDF · View the filing
PBT (standalone): INR 130 crores (Q1 FY27)
p. 6
“And PBT grew 65% to INR 130 crores at a 2.69% margin.”
Himanshu Shah, page 6 of the filed PDF · View the filing
Working capital days: 56 days (Q1 FY27)
p. 6
“overall working capital days improved year-on-year to 56 days”
Himanshu Shah, page 6 of the filed PDF · View the filing
Annualized ROCE: approximately 19.5% (Q1 FY27)
p. 4
“we delivered the highest annualized ROCE and ROE since our listing at approximately 19.5% and 19.8%”
Kapal Pansari, page 4 of the filed PDF · View the filing
Net debt: Rs. 1,285 crores (End of June 2026)
p. 15
“Rs. 1,285 crores.”
Himanshu Shah, page 15 of the filed PDF · View the filing
Debt ratio: around 0.5 (Q1 FY27)
p. 14
“Our debt ratio is also around 0.5 and once we take these kind of projects, our ratio also will go at least 2x.”
Rajesh Goenka, page 14 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Q2 FY27 revenue growth — similar to 60% growth · Q2 FY27
stated conditionally by Rajesh Goenka
p. 11
“Yes. So, as I said, I have already indicated that Q1 we have grown by 60%. Q2 also similar trend will be there. The only correction will happen on the speed of the price increase.”
Rajesh Goenka, page 11 of the filed PDF · View the filing
Semiconductor JV revenue — more than US$100 million · next three years
stated as an aspiration by Rajesh Goenka
p. 18
“so we are targeting in next three years maximum, we are targeting a revenue of more than US$100 million under the JV.”
Rajesh Goenka, page 18 of the filed PDF · View the filing
Long-term revenue growth — 20% CAGR
stated as an aspiration by Rajesh Goenka
p. 16
“last 20 years we have given 20% CAGR despite the ups and downs of the industry.”
Rajesh Goenka, page 16 of the filed PDF · View the filing
VDA/acquisitions revenue contribution — approximately 5% of revenue portfolio
stated conditionally by Kapal Pansari
p. 8
“But to start with the acquisition that we have done, approximately 5% of our revenue portfolio will come from these integrated services and value-added solutions.”
Kapal Pansari, page 8 of the filed PDF · View the filing
Semiconductor JV addressable business — at least $100 million · next three years
stated as an aspiration by Rajesh Goenka
p. 18
“But what I have already said that in next three years’ time, our aspiration is to do at least $100 million of business in the JV.”
Rajesh Goenka, page 18 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management attributed it to India's strong economic situation, digitization, and education-led PC demand.
Answered by Rajesh Goenka
Asked by Amit Khetan: Why is demand growth in India higher than the rest of the world despite similar global supply constraints?
p. 7
“So, I think the first and foremost in India, because of the overall economic situation, which is extremely good. Second, high focus on digitization. Third, very high focus on education.”
Rajesh Goenka, page 7 of the filed PDF · View the filing
Management said it is too early to give a precise outlook and will have clearer numbers by Q2.
Answered by Kapal Pansari
Asked by Bhavin Chheda: What is the revenue contribution outlook for the new acquisitions and JVs?
p. 8
“To give you a precise outlook on how should we look at it, I think we will still have to wait for another quarter.”
Kapal Pansari, page 8 of the filed PDF · View the filing
Management described it as a strategic acquisition aimed at building capabilities rather than immediate top-line contribution, citing VDA's prior year revenue.
Answered by Rajesh Goenka
Asked by Hitesh Goel: What is the outlook for the VDA Infosolutions business?
p. 9
“But just to give you previous financial year, they did INR 850 crores.”
Rajesh Goenka, page 9 of the filed PDF · View the filing
Management acknowledged a potential risk but said their scale and relationships with global suppliers give them an advantage.
Answered by Rajesh Goenka
Asked by Hitesh Goel: Could supply constraints on chips impact volumes in H2?
p. 9
“Yes. So, there is a potential risk, yes. But at the same time, now Rashi Peripherals is in the industry for more than 30 years.”
Rajesh Goenka, page 9 of the filed PDF · View the filing
About 5% of business came from the new Dell commercial business.
Answered by Rajesh Goenka
Asked by Hitesh Goel: What was the revenue from the Dell business this quarter?
p. 10
“So, roughly about 5% business has come from the new Dell commercial business in the past quarter, previous quarter.”
Rajesh Goenka, page 10 of the filed PDF · View the filing
Unit growth was about 20%, with the balance coming from ASP increases and about 10% from market share gains.
Answered by Rajesh Goenka
Asked by Ayush Chabria: What is the split between volume and value in top-line growth?
p. 11
“So, in terms of unit wise, we have grown by about 20%.”
Rajesh Goenka, page 11 of the filed PDF · View the filing
Management clarified that semiconductor portfolio revenue grew 70% year-on-year, not that it constitutes 70% of overall revenue.
Answered by Kapal Pansari
Asked by Nishita Shanklesha: Does the semiconductor revenue growth mean the segment is now 70% of total revenue?
p. 11
“So, let me please clarify that it has the revenue of Semiconductor portfolio compared to FY '26 in first quarter has grown by 70%.”
Kapal Pansari, page 11 of the filed PDF · View the filing
Management confirmed component shortages and said entry-level laptops face significant shortage while premium models remain available if price is accepted.
Answered by Rajesh Goenka
Asked by Aasim: Is there an actual shortage of laptops behind the channel inventory behavior?
p. 15
“Yes. So, entry level laptops, there is almost 50% shortage. But if I go for medium and premium notebooks, if we are able to accept the price, then so far availability is not a concern.”
Rajesh Goenka, page 15 of the filed PDF · View the filing
Management said the investment amount depends on fair market valuation at the time of the share purchase agreement and is premature to state.
Answered by Himanshu Shah
Asked by Siddhartha Grover: How much will Restar invest for its 26% stake in the JV?
p. 17
“So, let me answer the second question first. As far as money to be put in by Restar in the JV will depend upon the fair market valuation of the business at the time of entering into the SPA.”
Himanshu Shah, page 17 of the filed PDF · View the filing
Management said apple-to-apple comparisons show share gains across the industry but could not specify which competitors lost share.
Answered by Rajesh Goenka
Asked by Jatin Chawla: Where is the reported 10% market share gain coming from?
p. 18
“But when I compare even apple-to-apple, then it is very clearly evident that we have internal data that we have gained some market share across the industry, which may be a one distributor or two distributors or three distributors.”
Rajesh Goenka, page 18 of the filed PDF · View the filing
Risks flagged
Consumer affordability pressure due to elevated pricing
p. 5
“But our diversification across two strong verticals, our disciplined balance sheet and channel financing tool gives us real resilience to our share gains and richer mix will carry us through whenever the cycle normalizes.”
Kapal Pansari, page 5 of the filed PDF · View the filing
Supply constraints on chips potentially affecting volumes
p. 9
“Yes. So, there is a potential risk, yes.”
Rajesh Goenka, page 9 of the filed PDF · View the filing
Component and laptop shortages, especially at entry-level
p. 15
“So, obviously, there is a general shortage. But I can only say that in terms of component, there is a huge shortage.”
Rajesh Goenka, page 15 of the filed PDF · View the filing
Balance sheet stretch from pursuing large low-margin data center deals
p. 14
“Our debt ratio is also around 0.5 and once we take these kind of projects, our ratio also will go at least 2x.”
Rajesh Goenka, page 14 of the filed PDF · View the filing
GST-related contingent liabilities from show-cause notices
p. 17
“So, yes, these contingent liabilities are in the nature of reconciliatory show-cause notices which we receive.”
Himanshu Shah, page 17 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.