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Redington

REDINGTON NSE
₹366.75 +31.50 (+9.40%)
P/E
16.85
View as Markdown
MCP
Close 4 Nov 2026 ₹366.75 +76.80 +26.5% 1Y
Start ₹289.95

Key Fundamentals

SmallcapCommercial ServicesServices

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
18.40%
Debt to Equity
0.28
EPS (TTM)
₹21.76
Book Value
₹129.97
Market Cap
—
P/E (TTM)
16.85
P/B
2.82
ROE
16.90%
Dividend Yield
1.79%
EBITDA
₹2,415 Cr
52W High
₹419.50
52W Low
₹191.31
Day Range
₹330.65 – ₹374.40
Volume
1,88,05,231

Peer Comparison

Services › Commercial Services › Trading & Distributors

Redington peer comparison
Redington (this company)
₹366.7516.85₹26,244 Cr2.821.79%16.90%18.40%₹1,28,133 Cr₹1,504 Cr
MMTC
₹53.5017.95₹7,929 Cr3.780.00%−14.30%8.67%₹3 Cr₹447 Cr
MSTC
₹583.9017.54₹4,034 Cr4.552.78%26.60%30.30%₹386 Cr₹234 Cr
Creative Newtech
₹1,386.6028.27₹1,806 Cr5.190.04%18.80%18.80%₹2,787 Cr₹74 Cr
Pervasive Commodities
₹12.62—₹1,031 Cr12.620.00%22.10%22.10%₹40 Cr₹0 Cr
RRP Defense
₹584.75—₹802 Cr59.310.00%−13.70%−11.10%₹12 Cr−₹2 Cr
Median 6 companies₹475.3317.74₹2,920 Cr4.870.02%17.85%18.60%₹213 Cr₹154 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

61 Good

Data confidence 100/100

Category scores

Quality
60
Good
Returns, margins, earnings quality 22% weight
Valuation
53
Average
Cheap vs sector & own history 24% weight
Growth
62
Good
Sales & profit trajectory 9% weight
Financial Health
48
Average
Solvency, leverage, coverage 9% weight
Momentum
96
Strong
Trend strength, vol-adjusted 12% weight
Ownership
61
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 34.8%

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish559
OscillatorsBearish351
Moving AveragesStrong Bullish208

Key readings

RSI (14)
49.78
Neutral
MACD (12,26,9)
−11.05
Bearish
SMA (50)
378.58
Bearish
SMA (200)
287.16
Bullish

As of

Analyst Rating

Based on 5 analysts
BUY100%

5 of 5 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
5
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+12.89%
5Y+15.91%
3Y+14.50%
1Y+19.96%
TTM+23.20%

Net profit

Net profit growth by window
10Y+11.20%
5Y+10.26%
3Y−3.73%
1Y−29.49%
TTM−18.13%

Operating cash flow

Operating cash flow growth by window
10YTurned positive
5Y−41.93%
3YTurned positive
1Y−21.16%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−0.30 pp
5Y−0.47 pp
3Y−0.81 pp
1Y−0.20 pp
TTM0.00 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹41,115 Cr
Mar 2018₹41,603 Cr
Mar 2019₹46,536 Cr
Mar 2020₹51,465 Cr
Mar 2021₹56,946 Cr
Mar 2022₹62,644 Cr
Mar 2023₹79,377 Cr
Mar 2024₹89,346 Cr
Mar 2025₹99,334 Cr
Mar 2026₹1,19,162 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹477 Cr
Mar 2018₹484 Cr
Mar 2019₹484 Cr
Mar 2020₹534 Cr
Mar 2021₹788 Cr
Mar 2022₹1,315 Cr
Mar 2023₹1,439 Cr
Mar 2024₹1,239 Cr
Mar 2025₹1,821 Cr
Mar 2026₹1,284 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹746 Cr −0.7% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk medium

Redington Ltd trades at ₹366.75 as of 2026-11-04 with a market cap of ₹26,244 Cr, a P/E (TTM) of 16.85x, and ROE of 12.32%. The stock has delivered a 1-year CAGR of 38% and sits well above its 52-week low of ₹191.31, while TTM profit growth of 42% marks a notable acceleration over the 3-year compounded profit growth of 5%.

Bull Case 8
  • TTM profit growth of 42% represents a sharp acceleration compared to the 3-year compounded profit growth of just 5%, signalling a strong earnings recovery
  • Compounded sales growth has been consistent at 13% over 10 years, 16% over 5 years, and 15% over 3 years, with TTM sales growth accelerating to 23%
  • Debt-to-equity ratio stands at just 0.28, indicating a conservatively leveraged balance sheet for a distribution-focused business
  • The stock has delivered a 1-year CAGR of 38% and a 10-year CAGR of 21%, reflecting sustained long-term wealth creation
  • Healthy dividend payout ratio of 34.8% combined with a dividend yield of 1.79% offers meaningful income to shareholders
  • 5-year average ROE of 18% and 10-year average ROE of 17% demonstrate consistent and above-average return generation on equity
  • ROCE of 19% indicates efficient deployment of total capital, supporting the case for quality of earnings
  • 5-year compounded profit growth of 16% aligns closely with 5-year compounded sales growth of 16%, suggesting disciplined margin management over the medium term
Bear Case 7
  • Current ROE of 12.32% has declined meaningfully from the 5-year average of 18% and last year's 17%, suggesting returns on equity may be compressing
  • The stock trades at ₹366.75, which is 12.6% below its 52-week high of ₹419.50, indicating recent downward momentum from peak levels
  • Price-to-book ratio of 2.82x is elevated relative to the current ROE of 12.32%, meaning the market is pricing in returns the company is not currently delivering
  • 3-year compounded profit growth of only 5% lags well behind the 3-year compounded sales growth of 15%, pointing to a period of significant margin pressure
  • As a distribution and supply-chain services business, Redington operates on thin margins, making profitability highly sensitive to product mix shifts and vendor terms
  • The stock has nearly doubled from its 52-week low of ₹191.31, raising the risk that much of the near-term earnings recovery is already reflected in the price
  • EPS (TTM) of ₹21.76 paired with a P/E of 16.85x leaves limited room for valuation expansion if profit growth reverts toward the 3-year average of 5%

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Redington faces near-term headwinds from weakening iPhone demand in India (sales down 30% during festive season) and Apple's 15-20% production cuts on premium iPhone 18 models. The AWS partnership adds a modest diversification angle. The key risk is whether prolonged smartphone market weakness offsets the margin and market-share benefits from distributor consolidation.

Headwinds 3
  • iPhone festive sales drop 30% Oct 27

    iPhone sales fell up to 30% around Dussehra, with Indian shipments expected to decline double digits from a record 14.3 million units in 2025. Redington shares fell 2.36% to ₹358.10 on the news.

  • iPhone 18 Pro production cuts Oct 9

    Apple reduced October component orders for iPhone 18 Pro and Pro Max by 15-20% versus original targets due to softer pre-orders and rising memory costs. Redington traded 0.59% lower at ₹385.65 amid the volatility.

  • Memory shortage squeezing electronics Oct 9

    Strong AI demand has tightened global memory chip supply, with DRAM and NAND prices rising ~5x and ~4x respectively since end of CY24. Supply constraints may persist into 2027, pressuring smartphone production costs and potentially shrinking the PC and smartphone markets in 2026.

Positives 1
  • Distributor consolidation advantage Oct 15

    Memory shortages favour large distributors with scale and strong balance sheets. Redington's net debt-to-equity below 0.5x, A1+ credit rating, and 16-year provision record below 0.3% of revenue position it to gain structural market share as smaller players lose vendor relationships.

Neutral 1
  • AWS AI partnership in META Oct 22

    Redington Gulf signed a strategic collaboration with AWS for AI adoption in the META region, achieving six AWS certifications including AI Services and Digital Sovereignty competencies. Focus is on cloud modernization and agentic AI in markets like Saudi Arabia.

Quarterly Results

₹ Cr
REDINGTON quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
21,187
22,220
23,505
22,433
21,282
24,896
26,716
26,440
25,952
29,076
30,922
33,213
34,922
Expenses
20,768
21,739
22,988
21,974
20,911
24,437
26,114
25,843
25,552
28,487
30,296
32,599
34,215
Operating Profit
419
481
517
459
371
458
602
597
400
589
626
614
708
OPM %
2%
2.2%
2.2%
2%
1.7%
1.8%
2.3%
2.3%
1.5%
2%
2%
1.9%
2%
Other Income
64
76
45
79
53
57
48
696
50
43
37
−97
43
Interest
88
106
85
106
81
84
84
82
92
116
79
72
89
Depreciation
42
44
43
52
51
49
54
63
54
55
47
50
51
PBT
352
408
434
381
292
381
513
1,148
304
460
538
395
611
Tax %
27%
24%
20%
15%
26%
26%
21%
20%
23%
24%
23%
27%
26%
Net Profit
255
312
348
324
217
283
403
918
233
350
413
288
453
EPS (₹)
3.18
3.88
4.36
4.16
3.15
3.75
5.12
8.51
3.52
4.96
5.57
5.01
6.22

Profit & Loss

₹ Cr
REDINGTON profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
31,559
35,442
41,115
41,603
46,536
51,465
56,946
62,644
79,377
89,346
99,334
1,19,162
1,28,133
Expenses
30,843
34,637
40,264
40,757
45,570
50,373
55,554
60,805
77,174
87,337
97,179
1,16,815
1,25,596
Operating Profit
717
806
851
846
966
1,092
1,392
1,839
2,203
2,009
2,154
2,348
2,537
OPM %
2.3%
2.3%
2.1%
2%
2.1%
2.1%
2.4%
2.9%
2.8%
2.2%
2.2%
2%
2%
Other Income
64
34
41
39
−8
44
89
88
142
264
854
33
26
Interest
182
202
183
197
271
289
205
163
355
517
456
477
356
Depreciation
43
47
55
57
63
155
148
141
155
181
218
206
203
PBT
555
590
655
631
623
692
1,128
1,622
1,833
1,575
2,335
1,697
2,004
Tax %
26%
25%
27%
23%
22%
23%
30%
19%
21%
21%
22%
24%
—
Net Profit
410
444
477
484
484
534
788
1,315
1,439
1,239
1,821
1,284
1,505
EPS (₹)
4.84
5.3
5.8
6.02
6.53
6.62
9.74
16.38
17.82
15.59
20.53
19.06
21.76
Div. Payout %
20%
20%
37%
20%
18%
32%
60%
40%
40%
40%
33%
31%
—

Balance Sheet

₹ Cr
REDINGTON balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
80
80
80
80
78
78
78
156
156
156
156
156
Reserves
2,294
2,869
3,068
3,451
3,828
4,231
4,861
5,629
6,771
7,392
8,565
10,004
Borrowings
1,867
2,349
1,516
1,458
1,307
2,775
622
831
3,321
2,958
2,809
2,842
Other Liabilities
4,135
5,226
5,486
5,875
7,206
7,568
8,999
11,792
13,030
13,880
16,043
20,835
Total Liabilities
8,375
10,525
10,150
10,863
12,419
14,651
14,559
18,407
23,278
24,387
27,573
33,837
Fixed Assets
276
498
476
470
454
714
605
700
877
861
858
666
CWIP
13
14
0
20
38
11
1
85
12
6
15
75
Investments
0
0
5
4
7
0
0
0
34
0
0
0
Other Assets
8,086
10,013
9,669
10,369
11,920
13,925
13,953
17,622
22,354
23,520
26,699
33,095
Total Assets
8,375
10,525
10,150
10,863
12,419
14,651
14,559
18,407
23,278
24,387
27,573
33,837

Cash Flow

₹ Cr
REDINGTON cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
257
−142
1,360
186
1,068
966
3,497
989
−3,234
1,079
293
231
Investing
10
12
−86
−25
−94
54
−610
−167
243
37
547
470
Financing
−225
202
−1,131
−199
−651
443
−2,241
−476
1,529
−1,381
−1,171
−999
Net Cash Flow
42
71
144
−38
324
1,463
646
346
−1,462
−264
−332
−298
Free Cash Flow
224
−185
1,309
152
995
885
3,459
870
−3,382
1,016
138
125
CFO/EBITDA
51
5
180
40
131
100
270
69
−132
74
38
32

Ratios

REDINGTON financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
51
55
45
53
49
50
44
51
55
57
64
66
Inventory Days
35
41
32
29
32
28
20
27
35
29
24
26
Days Payable
40
46
42
44
49
47
50
63
54
51
52
58
Cash Conversion Cycle
46
50
35
38
32
30
14
15
36
34
36
34
Working Capital Days
23
23
20
24
22
11
8
10
21
22
25
26
ROCE %
17%
16%
16%
16%
18%
15%
20%
28%
25%
19%
19%
18%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Redington insights

64 extracted metrics across FY07–FY27.

Shareholding Pattern

As of Sep 2026

  • FIIs 63.43%
  • DIIs 16.00%
  • Public 15.39%
  • Others 5.13%
  • Government 0.04%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Redington

What does Redington Ltd do?
Established in the year 1993, Redington Limited is a leading distributor of IT and mobility products and a provider of supply chain management solutions and support services in India, the Middle East, Turkey and Africa.
Where is Redington Ltd (REDINGTON) listed?
Redington Ltd trades as REDINGTON on the NSE and under code 532805 on the BSE.
Which sector does Redington Ltd belong to?
Redington Ltd is classified under the Commercial Services sector, in the Trading & Distributors industry.
What is the PE ratio of Redington Ltd?
Redington Ltd trades at a PE ratio of 16.85 as of 4 Nov 2026, on earnings per share of ₹21.76, against a book value of ₹129.97 per share.
What is the 52-week high and low of Redington Ltd?
Over the last 52 weeks Redington Ltd has traded between ₹191.31 and ₹419.5 as of 4 Nov 2026.
Does Redington Ltd pay dividends?
Redington Ltd has a dividend yield of 1.79%.
What is the Return on Equity (ROE) of Redington Ltd?
Redington Ltd reported a return on equity of 16.90%. Its debt-to-equity ratio is 0.28.

Company Information

Established in the year 1993, Redington Limited is a leading distributor of IT and mobility products and a provider of supply chain management solutions and support services in India, the Middle East, Turkey and Africa.

Website redingtongroup.com
CEO Mr. Srinivasan Venkata Krishnan
Employees 12,062
Listed 15 Feb 2007
Face Value ₹2

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