Redington Ltd
Established in the year 1993, Redington India Limited have evolved from very humble beginnings of one brand, one product category into a major player in distribution and supply chain solutions with 235+ International brands in IT and Mobility spaces serving 37 emerging markets.[1]
- Market Cap ₹ 13,272 Cr.
- Current Price ₹ 169
- High / Low ₹ 202 / 109
- Stock P/E 9.28
- Book Value ₹ 79.6
- Dividend Yield 3.90 %
- ROCE 29.3 %
- ROE 23.8 %
- Face Value ₹ 2.00
Pros
- Stock is providing a good dividend yield of 3.90%.
- Company has delivered good profit growth of 22.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 44.1%
- Company's working capital requirements have reduced from 18.3 days to 14.0 days
Cons
- The company has delivered a poor sales growth of 8.79% over past five years.
* 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 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
16,704 | 21,162 | 24,165 | 27,945 | 31,559 | 35,442 | 41,115 | 41,603 | 46,536 | 51,465 | 56,946 | 62,644 | 74,830 | |
16,230 | 20,540 | 23,511 | 27,261 | 30,843 | 34,637 | 40,264 | 40,757 | 45,570 | 50,373 | 55,554 | 60,805 | 72,764 | |
Operating Profit | 474 | 621 | 653 | 684 | 717 | 806 | 851 | 846 | 966 | 1,092 | 1,392 | 1,839 | 2,066 |
OPM % | 3% | 3% | 3% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 3% | 3% |
19 | 29 | 46 | 51 | 64 | 34 | 41 | 39 | -8 | 44 | 89 | 88 | 118 | |
Interest | 118 | 169 | 199 | 212 | 182 | 202 | 183 | 197 | 271 | 289 | 205 | 163 | 213 |
Depreciation | 25 | 31 | 38 | 38 | 43 | 47 | 55 | 57 | 63 | 155 | 148 | 141 | 149 |
Profit before tax | 351 | 450 | 462 | 485 | 555 | 590 | 655 | 631 | 623 | 692 | 1,128 | 1,622 | 1,822 |
Tax % | 25% | 25% | 25% | 26% | 26% | 25% | 27% | 23% | 22% | 23% | 30% | 19% | |
Net Profit | 265 | 339 | 347 | 358 | 410 | 444 | 477 | 484 | 484 | 534 | 788 | 1,315 | 1,467 |
EPS in Rs | 2.85 | 3.67 | 4.05 | 4.21 | 4.84 | 5.30 | 5.80 | 6.02 | 6.53 | 6.62 | 9.74 | 16.38 | 18.30 |
Dividend Payout % | 19% | 5% | 5% | 11% | 20% | 20% | 37% | 20% | 18% | 32% | 60% | 40% |
Compounded Sales Growth | |
---|---|
10 Years: | 11% |
5 Years: | 9% |
3 Years: | 10% |
TTM: | 23% |
Compounded Profit Growth | |
---|---|
10 Years: | 16% |
5 Years: | 23% |
3 Years: | 34% |
TTM: | 16% |
Stock Price CAGR | |
---|---|
10 Years: | 15% |
5 Years: | 18% |
3 Years: | 76% |
1 Year: | 22% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 17% |
3 Years: | 18% |
Last Year: | 24% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
79 | 80 | 80 | 80 | 80 | 80 | 80 | 80 | 78 | 78 | 78 | 156 | 156 | |
Reserves | 1,176 | 1,243 | 1,561 | 1,941 | 2,294 | 2,869 | 3,068 | 3,451 | 3,828 | 4,231 | 4,861 | 5,629 | 6,064 |
1,590 | 2,060 | 2,150 | 1,786 | 1,867 | 2,349 | 1,516 | 1,458 | 1,307 | 2,775 | 622 | 831 | 1,897 | |
2,224 | 2,128 | 2,733 | 3,500 | 4,135 | 5,226 | 5,486 | 5,875 | 7,206 | 7,568 | 8,999 | 11,792 | 13,265 | |
Total Liabilities | 5,069 | 5,511 | 6,524 | 7,308 | 8,375 | 10,525 | 10,150 | 10,863 | 12,419 | 14,651 | 14,559 | 18,407 | 21,382 |
212 | 235 | 350 | 259 | 276 | 498 | 476 | 470 | 454 | 714 | 605 | 700 | 833 | |
CWIP | 1 | 9 | 15 | 23 | 13 | 14 | 0 | 20 | 38 | 11 | 1 | 85 | 33 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 4 | 7 | 0 | 0 | 0 | 0 |
4,856 | 5,267 | 6,158 | 7,026 | 8,086 | 10,013 | 9,669 | 10,369 | 11,920 | 13,925 | 13,953 | 17,622 | 20,517 | |
Total Assets | 5,069 | 5,511 | 6,524 | 7,308 | 8,375 | 10,525 | 10,150 | 10,863 | 12,419 | 14,651 | 14,559 | 18,407 | 21,382 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-71 | 258 | 288 | 241 | 257 | -142 | 1,360 | 186 | 1,068 | 966 | 3,497 | 989 | |
-243 | -745 | 76 | 296 | 10 | 12 | -86 | -25 | -94 | 54 | -610 | -167 | |
198 | 282 | -160 | -523 | -225 | 202 | -1,131 | -199 | -651 | 443 | -2,241 | -476 | |
Net Cash Flow | -116 | -205 | 203 | 14 | 42 | 71 | 144 | -38 | 324 | 1,463 | 646 | 346 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 41 | 38 | 46 | 51 | 51 | 55 | 45 | 53 | 49 | 50 | 44 | 51 |
Inventory Days | 37 | 31 | 31 | 32 | 35 | 41 | 32 | 29 | 32 | 28 | 20 | 27 |
Days Payable | 34 | 29 | 33 | 38 | 40 | 46 | 42 | 44 | 49 | 47 | 50 | 63 |
Cash Conversion Cycle | 43 | 40 | 44 | 45 | 46 | 50 | 35 | 38 | 32 | 30 | 14 | 15 |
Working Capital Days | 54 | 47 | 44 | 40 | 40 | 46 | 33 | 37 | 32 | 30 | 11 | 14 |
ROCE % | 18% | 20% | 18% | 19% | 18% | 17% | 17% | 17% | 19% | 16% | 21% | 29% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
10 Mar - Officials of the Company will be interacting with Investor/Analyst (Participants).
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 24 Feb
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 24 Feb
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
14 Feb - The SAR Share Allotment Committee of the Directors of the Company has considered and approved the allotment of 20,876 (Twenty Thousand Eight Hundred and Seventy …
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
11 Feb - Officials of the Company will be interacting with Investor/Analyst (Participants).
Annual reports
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
-
Financial Year 2011
from nse
-
Financial Year 2010
from bse
-
Financial Year 2010
from nse
Concalls
-
Feb 2023TranscriptNotesPPT
-
Nov 2022Transcript PPT
-
Sep 2022Transcript PPT
-
Aug 2022Transcript PPT
-
Aug 2022TranscriptNotesPPT
-
May 2022Transcript PPT
-
May 2022TranscriptNotesPPT
-
Feb 2022Transcript PPT
-
Nov 2021Transcript PPT
-
Aug 2021Transcript PPT
-
Aug 2021TranscriptNotesPPT
-
Jun 2021Transcript PPT
-
Feb 2021TranscriptPPT
-
Feb 2021Transcript PPT
-
Dec 2020TranscriptPPT
-
Nov 2020Transcript PPT
-
Aug 2020Transcript PPT
-
Jun 2020Transcript PPT
-
May 2020TranscriptPPT
-
Feb 2020TranscriptPPT
-
Feb 2020Transcript PPT
-
Nov 2019Transcript PPT
-
Aug 2019TranscriptPPT
-
Aug 2019Transcript PPT
-
Jun 2019Transcript PPT
-
May 2019TranscriptNotesPPT
-
Mar 2019TranscriptPPT
-
Feb 2019Transcript PPT
-
Feb 2019Transcript PPT
-
Dec 2018TranscriptPPT
-
Nov 2018Transcript PPT
-
Aug 2018TranscriptPPT
-
Aug 2018Transcript PPT
-
May 2018Transcript PPT
-
Feb 2018Transcript PPT
-
Nov 2017Transcript PPT
-
Oct 2017TranscriptNotesPPT
-
Aug 2017Transcript PPT
-
May 2017TranscriptNotesPPT
-
May 2017TranscriptNotesPPT
-
Feb 2017Transcript PPT
-
Nov 2016Transcript PPT
-
Aug 2016Transcript PPT
-
May 2016TranscriptPPT
-
May 2016Transcript PPT
-
Mar 2016TranscriptNotesPPT
Leading distributor of technology
Redington is a leading distributor of products and integrated supply chain solution provider in the field of technology and communications in India as well as across the globe. Being the second largest distributor of IT products in India, it is a premier distributor of products for 200 + global technology vendors. It also leverage its presence in the field of Repairs and maintenance of technology products & Infrastructure. [1] [2]