Redtape Ltd
India's trusted leading Fashion & Lifestyle brand with over 390+ 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. [1]
- Market Cap ₹ 10,214 Cr.
- Current Price ₹ 739
- High / Low ₹ 742 / 411
- Stock P/E 60.1
- Book Value ₹ 40.1
- Dividend Yield 0.00 %
- ROCE 44.8 %
- ROE 35.0 %
- Face Value ₹ 2.00
Pros
- Debtor days have improved from 44.3 to 20.9 days.
- Company's working capital requirements have reduced from 195 days to 90.3 days
Cons
- Stock is trading at 18.4 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | TTM | |
|---|---|---|---|
| 303 | 1,468 | 1,715 | |
| 256 | 1,224 | 1,412 | |
| Operating Profit | 47 | 244 | 302 |
| OPM % | 16% | 17% | 18% |
| -0 | 7 | 9 | |
| Interest | 4 | 17 | 31 |
| Depreciation | 2 | 44 | 57 |
| Profit before tax | 41 | 189 | 224 |
| Tax % | 29% | 25% | |
| 29 | 142 | 170 | |
| EPS in Rs | 10.29 | 12.29 | |
| Dividend Payout % | 0% | 0% |
| Compounded Sales Growth | |
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| TTM: | 384% |
| Compounded Profit Growth | |
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| TTM: | 385% |
| Stock Price CAGR | |
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| Return on Equity | |
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| Last Year: | 35% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Sep 2023 | |
|---|---|---|---|
| Equity Capital | 0 | 28 | 28 |
| Reserves | 336 | 449 | 527 |
| Preference Capital | 0 | 0 | |
| 28 | 81 | 471 | |
| 461 | 681 | 453 | |
| Total Liabilities | 826 | 1,239 | 1,479 |
| 304 | 368 | 495 | |
| CWIP | 17 | 71 | 45 |
| Investments | 1 | 1 | 0 |
| 504 | 799 | 938 | |
| Total Assets | 826 | 1,239 | 1,479 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | |
|---|---|---|
| 44 | 124 | |
| -49 | -147 | |
| -17 | 35 | |
| Net Cash Flow | -22 | 12 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | |
|---|---|---|
| Debtor Days | 68 | 21 |
| Inventory Days | 963 | 299 |
| Days Payable | 407 | 160 |
| Cash Conversion Cycle | 623 | 160 |
| Working Capital Days | 299 | 90 |
| ROCE % | 45% |
Documents
Announcements
- Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2 8h
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 2d
- Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 (The ''Listing Regulations'') - Commencement Of Online Operational Activity From It''s New Warehouse At Bhiwandi, Thane-421302, Maharashtra 22 Apr
- Submission Of Certificate As per Regulation 40(10) Of The SEBI (Listing Obligations And Disclosures Requirements) Regulations, 2015 For The Financial Year Ended March 31, 2024 13 Apr
- Compliance Status Of Regulation 6(1) And 7(1) Of SEBI (LODR) Regulations, 2015, As Amended, For The Quarter Ended March 31, 2024. 5 Apr
About[1]
REDTAPE has a strong brand recall of 26+ yrs. It emerged as the first Indian footwear brand in 1996 to have a strong presence in global markets like UK. The company entered into men’s clothing and accessory in 2006. Today, it also caters to the fashion needs in female and kids clothing and accessory category.