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Redington Overview

Redington (India) Ltd is an primarily India-based agency, which operates in the information technology product distribution enterprise, supply chain solutions and after-income offerings of IT merchandise. The Company is a distributor of technology & mobility products and solutions throughout more than 37 markets in Emerging goes covering India, Singapore, South Asia, the Middle East, Africa & Turkey. Its subsidiary, ProConnect, is a supply chain solution issuer across multiple industry segments. Its offerings include cloud era, cloud consulting...Read More

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Redington Key Financials

Market Cap ₹18346 Cr.

Stock P/E 10.1

P/B 1.9

Current Price ₹234.7

Book Value ₹ 120.6

Face Value 2

52W High ₹334.9

Dividend Yield 2.9%

52W Low ₹ 191.3

Redington Share Price

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Volume
Price

Redington Quarterly Price

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Redington Peer Comparison

Redington Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 22220 23505 22433 21282 24896 26716 26440 25952 29076 30922
Other Income 76 45 79 53 57 48 70 50 43 37
Total Income 22297 23550 22513 21335 24952 26764 26510 26002 29118 30959
Total Expenditure 21739 22988 21974 20911 24437 26114 25843 25552 28487 30296
Operating Profit 558 562 539 424 515 651 667 450 632 663
Interest 106 85 106 81 84 84 82 92 116 79
Depreciation 44 43 52 51 49 54 63 54 55 47
Exceptional Income / Expenses 0 0 0 0 0 0 626 0 0 0
Profit Before Tax 408 434 381 292 381 513 1148 304 460 538
Provision for Tax 97 86 57 75 98 110 230 71 110 124
Profit After Tax 312 348 324 217 283 403 918 233 350 413
Adjustments -8 -7 2 29 10 -3 -252 42 38 22
Profit After Adjustments 303 341 326 246 293 400 666 275 388 436
Adjusted Earnings Per Share 3.9 4.4 4.2 3.1 3.7 5.1 8.5 3.5 5 5.6

Redington Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 31559 35442 41115 41603 46536 51465 56946 62644 79377 89346 99334 112390
Other Income 76 55 63 39 63 49 96 88 142 266 228 200
Total Income 31635 35497 41178 41642 46599 51514 57042 62732 79519 89612 99562 112589
Total Expenditure 30841 34643 40277 40757 45570 50373 55534 60797 77028 87019 96979 110178
Operating Profit 794 854 901 885 1029 1141 1508 1935 2491 2593 2583 2412
Interest 196 217 192 197 271 289 225 171 502 837 656 369
Depreciation 43 47 55 57 63 155 148 141 155 181 218 219
Exceptional Income / Expenses 0 0 0 0 -71 -5 -6 0 0 0 626 626
Profit Before Tax 555 590 655 631 623 692 1128 1622 1833 1575 2335 2450
Provision for Tax 145 146 178 146 139 158 340 307 394 336 514 535
Profit After Tax 410 444 477 484 484 534 789 1315 1439 1239 1821 1914
Adjustments -24 -21 -13 -3 23 -19 -30 -35 -47 -20 -216 -150
Profit After Adjustments 387 424 464 482 508 515 758 1280 1393 1219 1605 1765
Adjusted Earnings Per Share 4.8 5.3 5.8 6 6.5 6.6 9.7 16.4 17.8 15.6 20.5 22.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 11% 17% 14% 12%
Operating Profit CAGR -0% 10% 18% 13%
PAT CAGR 47% 11% 28% 16%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 5% 12% 22% 15%
ROE Average 22% 21% 21% 18%
ROCE Average 28% 27% 26% 21%

Redington Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 2374 2949 3148 3531 3906 4309 4939 5785 6927 7549 8721
Minority's Interest 206 367 362 359 345 381 373 323 366 313 476
Borrowings 214 0 0 4 25 0 5 90 50 39 16
Other Non-Current Liabilities 47 161 171 167 163 269 260 288 301 196 271
Total Current Liabilities 5532 7189 6623 6931 8096 9752 9279 12183 15997 16208 18022
Total Liabilities 8373 10666 10304 10992 12534 14711 14855 18669 23641 24305 27506
Fixed Assets 276 498 476 470 454 714 605 700 866 848 833
Other Non-Current Assets 77 219 223 252 355 263 250 322 275 295 448
Total Current Assets 8020 9949 9587 10269 11725 13734 13992 17640 22501 23162 26226
Total Assets 8373 10666 10304 10992 12534 14711 14855 18669 23641 24305 27506

Redington Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 472 388 386 530 492 816 2279 2925 3271 1809 1545
Cash Flow from Operating Activities 257 -142 1360 186 1068 966 3497 989 -3234 1079 293
Cash Flow from Investing Activities -6 -18 -75 -19 -94 -58 -497 -57 176 145 560
Cash Flow from Financing Activities -225 202 -1131 -199 -651 443 -2241 -476 1529 -1381 -1171
Net Cash Inflow / Outflow 26 41 154 -32 323 1351 759 457 -1529 -156 -319
Closing Cash & Cash Equivalent 514 459 530 492 816 2279 2925 3271 1809 1545 1213

Redington Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 4.84 5.3 5.8 6.02 6.53 6.62 9.74 16.38 17.82 15.59 20.53
CEPS(Rs) 5.67 6.14 6.65 6.76 7.04 8.86 12.03 18.63 20.41 18.16 26.07
DPS(Rs) 0.95 1.05 2.15 1.2 1.65 2.15 5.8 6.6 7.2 6.2 6.8
Book NAV/Share(Rs) 29.7 36.88 39.36 44.06 49.92 54.96 63.04 73.97 88.58 96.55 111.55
Core EBITDA Margin(%) 2.28 2.26 2.04 2.03 2.08 2.12 2.48 2.95 2.96 2.6 2.37
EBIT Margin(%) 2.38 2.28 2.06 1.99 1.92 1.91 2.38 2.86 2.94 2.7 3.01
Pre Tax Margin(%) 1.76 1.67 1.59 1.52 1.34 1.35 1.98 2.59 2.31 1.76 2.35
PAT Margin (%) 1.3 1.25 1.16 1.16 1.04 1.04 1.38 2.1 1.81 1.39 1.83
Cash Profit Margin (%) 1.44 1.39 1.29 1.3 1.18 1.34 1.64 2.32 2.01 1.59 2.05
ROA(%) 5.24 4.67 4.55 4.55 4.12 3.92 5.33 7.84 6.8 5.17 7.03
ROE(%) 18.67 16.68 15.64 14.52 13.08 13.08 17.17 24.61 22.66 17.12 22.38
ROCE(%) 18.67 16.93 16.99 17.16 17.54 16.27 22.13 30.39 28.36 23.63 27.57
Receivable days 48.26 50.27 46.3 48.82 48.32 47.2 44.33 45.09 47.6 53.04 57.44
Inventory Days 29.72 34.1 31.71 28.43 27.32 26.71 21.07 21.22 26.37 28.06 23.77
Payable days 36.92 40.92 40.65 42.82 44.45 45.69 46.05 54.12 51.66 49.46 48.98
PER(x) 13.61 10.76 9.5 12.18 7.84 5.14 9.79 8.85 9.35 13.36 11.84
Price/Book(x) 2.22 1.55 1.4 1.66 1.03 0.62 1.51 1.96 1.88 2.16 2.18
Dividend Yield(%) 1.44 1.84 3.9 1.64 3.22 6.32 6.08 4.55 4.32 2.98 2.8
EV/Net Sales(x) 0.21 0.18 0.13 0.16 0.09 0.05 0.08 0.13 0.18 0.2 0.2
EV/Core EBITDA(x) 8.31 7.44 5.78 7.67 4.29 2.46 2.9 4.29 5.7 6.73 7.84
Net Sales Growth(%) 12.93 12.3 16 1.19 11.86 10.59 10.65 10.01 26.71 12.56 11.18
EBIT Growth(%) 5.7 7.47 4.81 -2.17 8.07 9.63 37.95 32.52 30.84 3.26 24.01
PAT Growth(%) 14.66 8.2 7.35 1.61 0.01 10.21 47.68 66.76 9.47 -13.95 46.99
EPS Growth(%) 14.76 9.54 9.6 3.68 8.42 1.46 47.14 68.13 8.79 -12.51 31.69
Debt/Equity(x) 0.79 0.8 0.48 0.41 0.34 0.59 0.09 0.11 0.45 0.37 0.3
Current Ratio(x) 1.45 1.38 1.45 1.48 1.45 1.41 1.51 1.45 1.41 1.43 1.46
Quick Ratio(x) 0.93 0.86 0.94 1.03 0.97 1.03 1.2 1.09 0.96 1.02 1.11
Interest Cover(x) 3.83 3.72 4.41 4.19 3.3 3.4 6.01 10.48 4.65 2.88 4.56
Total Debt/Mcap(x) 0.35 0.52 0.34 0.25 0.33 0.96 0.06 0.06 0.24 0.17 0.14

Redington Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 0 0 0 0 0 0 0 0 0 0
FII 56.97 58.07 57.83 58.03 58.52 60.57 62.59 61.82 61.94 61.49
DII 17.97 18.63 18.18 18.13 18.64 17.92 16.7 17.01 17.33 17.18
Public 25.06 23.3 23.99 23.84 22.84 21.51 20.71 21.17 20.73 21.34
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Redington News

Redington Pros & Cons

Pros

  • Company has delivered good profit growth of 27% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 21%
  • Debtor days have improved from 49.46 to 48.98days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 0%.
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