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Redtape

REDTAPE NSE
₹105.98 −0.82 (−0.77%)
P/E
23.82
View as Markdown
MCP
Close 4 Nov 2026 ₹105.98 −30.33 −22.3% 1Y
Start ₹136.31

Key Fundamentals

MicrocapConsumer DurablesConsumer Discretionary

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

ROCE
24.50%
Debt to Equity
0.70
EPS (TTM)
₹4.45
Book Value
₹18.48
Market Cap
—
P/E (TTM)
23.82
P/B
5.73
ROE
26.60%
Dividend Yield
1.87%
EBITDA
₹480 Cr
52W High
₹158.99
52W Low
₹101.00
Day Range
₹101.00 – ₹108.56
Volume
8,87,798

Peer Comparison

Consumer Discretionary › Consumer Goods › Footwear

Redtape peer comparison
Metro Brands
₹854.9057.30₹23,027 Cr11.140.72%22.10%20.10%₹2,956 Cr₹412 Cr
Bata
₹633.2055.69₹8,059 Cr5.103.85%10.60%12.70%₹3,553 Cr₹146 Cr
Relaxo Footwears
₹289.2538.83₹7,152 Cr3.261.23%8.33%11.20%₹2,753 Cr₹186 Cr
Campus Activewear
₹199.7839.64₹6,007 Cr6.740.77%18.00%21.20%₹1,816 Cr₹154 Cr
Redtape (this company)
₹105.9823.82₹5,927 Cr5.731.87%26.60%24.50%₹2,436 Cr₹247 Cr
Sreeleathers
₹262.0018.49₹614 Cr1.220.76%4.70%6.97%₹258 Cr₹33 Cr
Liberty Shoes
₹191.7338.19₹323 Cr1.401.33%4.82%7.91%₹737 Cr₹9 Cr
Median 7 companies₹262.0038.83₹6,007 Cr5.101.23%10.60%12.70%₹2,436 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.

Tapetide Score

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

Overall score

55 Good

Data confidence 98/100

Category scores

Quality
68
Strong
Returns, margins, earnings quality 22% weight
Valuation
65
Good
Cheap vs sector & own history 24% weight
Growth
65
Good
Sales & profit trajectory 9% weight
Financial Health
48
Average
Solvency, leverage, coverage 9% weight
Momentum
14
Poor
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
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

2
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.8%
  • Company has been maintaining a healthy dividend payout of 39.7%

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1072
OscillatorsNeutral171
Moving AveragesStrong Bearish901

Key readings

RSI (14)
38.10
Neutral
MACD (12,26,9)
−3.10
Bullish
SMA (50)
115.06
Bearish
SMA (200)
124.21
Bearish

As of

Growth Rate

From the financial statements below. 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
3Y+18.11%
1Y+19.69%
TTM+19.00%

Net profit

Net profit growth by window
3Y+19.28%
1Y+41.76%
TTM+38.76%

Operating cash flow

Operating cash flow growth by window
3Y+11.07%
1YTiny base
TTM—

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

Operating margin· change in pp

Operating margin growth by window
3Y−2.03 pp
1Y+3.70 pp
TTM+1.85 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2023₹1,468 Cr
Mar 2024₹1,843 Cr
Mar 2025₹2,021 Cr
Mar 2026₹2,419 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2023₹142 Cr
Mar 2024₹176 Cr
Mar 2025₹170 Cr
Mar 2026₹241 Cr

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk medium

Redtape Ltd is a mid-cap Indian footwear and apparel company with a market cap of approximately ₹7,796 crore, trading at a P/E of 32x and P/B of 7.53x. The company reported consolidated revenue of ₹2,021 crore in FY25 with PAT of ₹170 crore, delivering TTM sales growth of 20% and profit growth of 42%, while maintaining a 3-year ROE of approximately 27%.

Bull Case 8
  • Strong revenue growth with TTM sales growth of 20% and 3-year compounded sales CAGR of 18%, outpacing the broader Indian footwear market growth rate of ~11% per annum
  • Robust profitability acceleration with TTM profit growth of 42%, significantly ahead of revenue growth, indicating operating leverage kicking in
  • Consistently high return on equity at 27% over 3-year and 5-year periods (26%), demonstrating efficient capital allocation
  • Healthy dividend payout ratio of 41.6% with current dividend yield of 1.44%, offering income alongside growth — uncommon for a mid-cap growth company
  • Operates in Indian footwear market projected to grow at 9.7% CAGR to USD 47.5 billion by 2034, providing a large and expanding addressable market
  • Q3 FY25 quarterly net profit of ₹74.07 crore, up 23.2% YoY from ₹60.11 crore, showing continued execution momentum
  • PE interest from global firms like Apax and Advent at valuations of ₹4,500–5,000 crore for the operating entity signals institutional confidence in the brand and business model
  • Debt-to-equity ratio of 0.38 indicates a relatively conservative balance sheet for a company growing at 18-20% topline
Bear Case 7
  • Earnings include other income of ₹133 crore, which constitutes a material portion relative to PAT of ₹170 crore — core operating profit growth may be overstated
  • P/E of 32x is elevated for a company in the competitive consumer discretionary space, pricing in significant future growth
  • Competes against well-capitalised global brands (Nike, Adidas) and established domestic players (Bata, Campus Activewear) with deeper distribution networks
  • Q3 FY25 revenue growth decelerated to 8.01% YoY (₹665.66 crore vs ₹616.10 crore), a marked slowdown from the 20% TTM rate, raising questions about growth sustainability
  • Simply Wall St estimates current earnings growth of 15.1% annually, below the specialty retail industry average of 31%, suggesting the stock may be losing relative momentum
  • FY24 standalone PAT of ₹170 crore was roughly flat vs prior year's ₹176 crore, indicating profit growth has been lumpy rather than consistently linear
  • Consumer discretionary spending in India is sensitive to macroeconomic cycles, rural demand weakness, and inflationary pressures on input costs

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

AI News Digest

153d ago

TL;DR: Limited news flow for Redtape with only a routine board meeting announcement for Q4FY26 results on May 26. No identifiable headwinds or positive catalysts in the current cycle. The upcoming results and potential dividend decision on May 26 will be the next meaningful data point for the stock.

Neutral 1
  • Board meet for Q4FY26 results May 18

    Redtape Limited scheduled a Board meeting on May 26, 2026, to approve Q4 and FY26 audited financial results and consider a final dividend recommendation.

Quarterly Results

₹ Cr
REDTAPE quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
395
325
618
507
442
416
661
506
464
492
787
676
481
Expenses
313
267
513
432
373
352
536
461
387
420
640
564
398
Operating Profit
82
58
105
75
69
64
125
45
77
73
147
111
84
OPM %
21%
18%
17%
15%
16%
15%
19%
9%
17%
15%
19%
16%
17%
Other Income
1
2
4
5
2
3
9
50
9
10
31
22
15
Interest
6
9
10
10
10
12
13
16
16
19
18
15
15
Depreciation
12
15
16
15
19
21
22
22
21
22
23
22
24
PBT
64
36
82
54
42
35
99
57
49
42
137
96
60
Tax %
27%
23%
26%
25%
26%
28%
26%
28%
21%
34%
24%
27%
26%
Net Profit
47
28
61
41
31
25
73
41
39
28
105
70
44
EPS (₹)
0.85
0.5
1.1
0.74
0.55
0.45
1.32
0.75
0.7
0.5
1.89
1.26
0.8

Profit & Loss

₹ Cr
REDTAPE profit and loss, annual, ₹ crore
Particulars Mar 2022 3mMar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
303
1,468
1,843
2,021
2,419
2,436
Expenses
256
1,224
1,524
1,801
2,065
2,021
Operating Profit
47
244
319
220
353
414
OPM %
16%
17%
17%
11%
15%
17%
Other Income
0
7
13
151
132
78
Interest
4
17
37
54
73
66
Depreciation
2
44
59
83
88
91
PBT
41
189
236
233
324
336
Tax %
29%
25%
25%
27%
26%
—
Net Profit
29
142
176
170
241
246
EPS (₹)
—
2.57
3.19
3.08
4.35
4.45
Div. Payout %
0%
0%
0%
73%
46%
—

Balance Sheet

₹ Cr
REDTAPE balance sheet, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0.01
28
28
111
111
Reserves
336
449
621
678
911
Borrowings
28
260
480
724
720
Other Liabilities
461
502
460
712
564
Total Liabilities
826
1,239
1,588
2,224
2,306
Fixed Assets
304
368
646
717
750
CWIP
17
71
17
46
25
Investments
1
1
0
0
0
Other Assets
504
799
925
1,461
1,531
Total Assets
826
1,239
1,588
2,224
2,306

Cash Flow

₹ Cr
REDTAPE cash flow, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
44
127
84
4
174
Investing
−49
−127
−116
−110
−85
Financing
−17
12
26
99
−94
Net Cash Flow
−22
12
−5
−7
−5
Free Cash Flow
−5
−6
−32
−104
89
CFO/EBITDA
69
71
46
31
72

Ratios

REDTAPE financial ratios, annual
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
68
21
18
20
32
Inventory Days
963
308
298
406
306
Days Payable
407
164
108
174
97
Cash Conversion Cycle
623
164
208
252
240
Working Capital Days
279
48
54
62
81
ROCE %
—
37%
29%
22%
24%

Insights

Beta

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

Log in to view Redtape insights

61 extracted metrics across FY22–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 71.83%
  • DIIs 11.84%
  • Public 9.64%
  • Others 3.67%
  • FIIs 3.02%

No promoter shares pledged as of 14 Oct 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 Redtape

What does Redtape Ltd do?
India's trusted leading Fashion & Lifestyle brand with over 435+ opulent stores across PAN India. RedTape is known for emerging as one of the Finest Brands of Footwear and Clothing for Men, Women and Kids.
Where is Redtape Ltd (REDTAPE) listed?
Redtape Ltd trades as REDTAPE on the NSE and under code 543957 on the BSE.
Which sector does Redtape Ltd belong to?
Redtape Ltd is classified under the Consumer Goods sector, in the Footwear industry.
What is the PE ratio of Redtape Ltd?
Redtape Ltd trades at a PE ratio of 23.82 as of 4 Nov 2026, on earnings per share of ₹4.45, against a book value of ₹18.48 per share.
What is the 52-week high and low of Redtape Ltd?
Over the last 52 weeks Redtape Ltd has traded between ₹101 and ₹158.99 as of 4 Nov 2026.
Does Redtape Ltd pay dividends?
Redtape Ltd has a dividend yield of 1.87%.
What is the Return on Equity (ROE) of Redtape Ltd?
Redtape Ltd reported a return on equity of 26.60%. Its debt-to-equity ratio is 0.70.

Company Information

India's trusted leading Fashion & Lifestyle brand with over 435+ opulent stores across PAN India. RedTape is known for emerging as one of the Finest Brands of Footwear and Clothing for Men, Women and Kids. It has emerged as a complete Family Fashion Destination by providing the Best International Styles and World-Class Quality through Shoes, Apparels and Accessories for all age groups. It was demerged from Mirza International in 2023.

Website redtape.com
Listed 11 Aug 2023
Face Value ₹2

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