REDINGTON

Redington Limited

Technology products distribution — IT hardware, mobility, software and cloud

Services›Services›Commercial Services & Supplies›Trading & Distributors

redingtongroup.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹383.50
Market cap
29,964 Cr
Stock P/E
17.6
P/B
2.95
Dividend yield
1.8%
ROE (FY26)
14.3%
ROCE (FY26)
15.7%
Operating margin (FY26)
1.7%
Debt / equity (FY26)
0.26

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Redington distributes technology products from global vendors, including smartphones, PCs, servers and storage, software and cloud services, to resellers, retailers and enterprise customers, mainly in India and in the Middle East and Africa.

Company snapshot

1stBy market cap

Ranked among 23 companies in Trading & Distributors.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 50.0% of revenue

SegmentRevenue shareRevenuePBTAssets
ROW
50.0%
13,370 Cr276 Cr15,143 Cr
SISA
50.0%
13,357 Cr320 Cr12,643 Cr

What we see

Positives
  • ✓Debt-to-equity of 0.26x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is very thin at 1.1% — little room for error if costs rise.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales22,220 Cr23,505 Cr22,433 Cr21,282 Cr24,896 Cr26,716 Cr26,440 Cr25,952 Cr29,076 Cr30,922 Cr33,213 Cr34,922 Cr
Operating expenses (approx.)21,739 Cr22,988 Cr21,974 Cr20,911 Cr24,437 Cr26,114 Cr25,843 Cr25,552 Cr28,487 Cr30,296 Cr32,599 Cr34,215 Cr
EBITDA481 Cr517 Cr459 Cr371 Cr458 Cr603 Cr597 Cr400 Cr589 Cr626 Cr614 Cr708 Cr
OPM %2.2%2.2%2.0%1.7%1.8%2.3%2.3%1.5%2.0%2.0%1.8%2.0%
Other income76 Cr45 Cr79 Cr53 Cr57 Cr48 Cr70 Cr50 Cr43 Cr37 Cr56 Cr43 Cr
Interest106 Cr85 Cr106 Cr81 Cr84 Cr84 Cr82 Cr92 Cr116 Cr79 Cr72 Cr89 Cr
Depreciation44 Cr43 Cr52 Cr51 Cr49 Cr54 Cr63 Cr54 Cr55 Cr47 Cr50 Cr51 Cr
Profit before tax408 Cr434 Cr381 Cr292 Cr381 Cr513 Cr1,148 Cr304 Cr460 Cr538 Cr395 Cr611 Cr
Tax %23.7%19.8%14.9%25.8%25.8%21.4%20.1%23.4%23.8%23.1%27.2%25.8%
Net profit312 Cr348 Cr324 Cr217 Cr283 Cr403 Cr918 Cr233 Cr350 Cr413 Cr288 Cr453 Cr
EPS (₹)₹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 (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales41,115 Cr43,459 Cr46,536 Cr51,465 Cr56,946 Cr62,644 Cr79,377 Cr89,346 Cr99,334 Cr1,19,162 CrSign in free for the trailing twelve months
Operating expenses (approx.)40,290 Cr42,643 Cr45,637 Cr50,442 Cr55,602 Cr60,852 Cr77,258 Cr87,468 Cr97,305 Cr1,16,933 CrSign in free for the trailing twelve months
EBITDA825 Cr816 Cr899 Cr1,023 Cr1,343 Cr1,792 Cr2,119 Cr1,877 Cr2,029 Cr2,229 CrSign in free for the trailing twelve months
OPM %2.0%1.9%1.9%2.0%2.4%2.9%2.7%2.1%2.0%1.9%Sign in free for the trailing twelve months
Other income41 Cr39 Cr63 Cr49 Cr96 Cr88 Cr142 Cr264 Cr228 Cr185 CrSign in free for the trailing twelve months
Interest157 Cr168 Cr204 Cr219 Cr156 Cr116 Cr272 Cr385 Cr330 Cr359 CrSign in free for the trailing twelve months
Depreciation55 Cr57 Cr63 Cr155 Cr148 Cr141 Cr155 Cr181 Cr218 Cr206 CrSign in free for the trailing twelve months
Profit before tax655 Cr631 Cr623 Cr692 Cr1,128 Cr1,622 Cr1,833 Cr1,575 Cr2,335 Cr1,697 CrSign in free for the trailing twelve months
Tax %27.2%23.2%22.3%22.9%30.3%19.0%21.5%21.3%22.0%24.3%Sign in free for the trailing twelve months
Net profit477 Cr484 Cr484 Cr534 Cr787 Cr1,315 Cr1,439 Cr1,239 Cr1,821 Cr1,284 CrSign in free for the trailing twelve months
EPS (₹)₹11.61₹12.04₹12.80₹13.24₹19.44₹16.40₹17.82₹15.59₹20.53₹19.06Sign in free for the trailing twelve months
Dividend payout %————0.0%35.0%36.3%45.6%26.6%41.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital80 Cr80 Cr78 Cr78 Cr78 Cr156 Cr156 Cr156 Cr156 Cr156 Cr
Reserves3,068 Cr3,451 Cr3,828 Cr4,231 Cr4,856 Cr5,629 Cr6,771 Cr7,392 Cr8,565 Cr10,004 Cr
Borrowings1,516 Cr1,458 Cr1,307 Cr2,537 Cr439 Cr633 Cr3,127 Cr2,807 Cr2,619 Cr2,637 Cr
Other liabilities5,125 Cr5,518 Cr6,863 Cr7,429 Cr8,811 Cr11,675 Cr12,863 Cr13,725 Cr15,768 Cr20,778 Cr
Total liabilities10,150 Cr10,865 Cr12,421 Cr14,656 Cr14,557 Cr18,416 Cr23,283 Cr24,394 Cr27,584 Cr33,839 Cr
Fixed assets (net)196 Cr186 Cr187 Cr174 Cr147 Cr147 Cr276 Cr274 Cr268 Cr283 Cr
CWIP0.50 Cr3 Cr8 Cr0.06 Cr0.29 Cr85 Cr8 Cr0.55 Cr11 Cr67 Cr
Investments5 Cr4 Cr7 Cr0 Cr0 Cr0 Cr46 Cr12 Cr25 Cr39 Cr
Loans & advances——44 Cr2 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Inventories3,375 Cr3,107 Cr3,859 Cr3,673 Cr2,902 Cr4,383 Cr7,085 Cr6,653 Cr6,287 Cr8,171 Cr
Trade receivables5,087 Cr6,073 Cr6,279 Cr7,032 Cr6,801 Cr8,675 Cr12,030 Cr13,934 Cr17,330 Cr21,569 Cr
Cash & bank614 Cr528 Cr867 Cr2,344 Cr2,939 Cr3,290 Cr1,859 Cr1,612 Cr1,357 Cr1,110 Cr
Other assets873 Cr965 Cr1,171 Cr1,432 Cr1,768 Cr1,836 Cr1,979 Cr1,907 Cr2,306 Cr2,601 Cr
Total assets10,150 Cr10,865 Cr12,421 Cr14,656 Cr14,557 Cr18,416 Cr23,283 Cr24,394 Cr27,584 Cr33,839 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity1,360 Cr186 Cr1,068 Cr966 Cr3,497 Cr989 Cr-3,234 Cr1,079 Cr293 Cr231 Cr
Cash from investing-75 Cr-19 Cr-94 Cr-58 Cr-497 Cr-57 Cr176 Cr145 Cr560 Cr-10 Cr
Cash from financing-1,131 Cr-199 Cr-651 Cr443 Cr-2,241 Cr-476 Cr1,529 Cr-1,381 Cr-1,171 Cr-999 Cr
Net cash flow154 Cr-32 Cr323 Cr1,351 Cr646 Cr346 Cr-1,462 Cr-264 Cr-332 Cr-298 Cr
Free cash flow (OCF − Capex)1,296 Cr127 Cr986 Cr882 Cr3,449 Cr863 Cr-3,396 Cr957 Cr129 Cr49 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %16.1%14.9%14.9%12.6%22.4%25.8%20.2%18.4%22.6%15.7%
ROE %13.2%12.5%11.9%11.0%14.3%21.0%19.1%15.5%17.4%14.3%
Debtor days45514950435055576466
Inventory days30263026192532272325
Days payable39394645475950484955
Cash conversion cycle36383331151737363736
OCF / EBITDA %n.m.n.m.n.m.n.m.n.m.n.m.n.m.n.m.n.m.n.m.
OCF / EBITDA % (3 years)——n.m.n.m.n.m.n.m.n.m.n.m.n.m.n.m.
Debt / equity0.480.410.330.590.090.110.450.370.300.26
Current ratio1.451.481.451.411.521.461.421.431.461.41
Net debt / EBITDA1.09—0.490.19-1.86-1.480.600.640.620.69