Redtape Ltd

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Redtape Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Redtape Ltd

₹ 107 -1.05%
13 Nov - close price
redtape.com BSE: 543957 NSE: REDTAPE
About

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. [1]

Key Points

Background[1]
Company is a prominent player in the retail footwear and garments segments for men, women and children. It sells products under three brands - REDTAPE, MODE (REDTAPE London) and BOND STREET (REDTAPE London). Most revenue comes from the domestic market with negligible exports. The company has presence of 26+ years in the footwear segment and around 15 years in the garments segment.

Website BSE NSE
  • Market Cap ₹ 5,939 Cr.
  • Current Price ₹ 107
  • High / Low ₹ 159 / 101
  • Stock P/E 22.9
  • Book Value ₹ 17.9
  • Dividend Yield 1.86 %
  • ROCE 24.7 %
  • ROE 27.0 %
  • Face Value ₹ 2.00
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Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.7%
  • Company has been maintaining a healthy dividend payout of 37.6%

Cons

* 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.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Footwear

Part of BSE Consumer Discretionary BSE 1000 Nifty Smallcap 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
321 616 502 441 416 662 504 463 491 786 674 480 474
267 513 431 372 351 536 460 385 418 638 562 395 399
Operating Profit 55 104 71 68 65 127 44 78 73 148 112 86 75
OPM % 17% 17% 14% 15% 16% 19% 9% 17% 15% 19% 17% 18% 16%
2 3 5 2 3 9 63 9 10 31 23 15 14
Interest 9 10 10 10 12 13 16 16 19 18 15 15 16
Depreciation 15 16 15 19 21 22 21 21 22 23 22 24 26
Profit before tax 33 81 51 41 36 100 70 49 42 139 98 63 48
Tax % 22% 26% 24% 26% 28% 26% 22% 20% 34% 24% 27% 25% 26%
26 60 39 31 26 74 54 39 28 106 71 47 36
EPS in Rs 0.46 1.09 0.70 0.55 0.46 1.34 0.98 0.71 0.51 1.91 1.29 0.85 0.64
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
297 1,459 1,832 2,018 2,415 2,415
255 1,222 1,521 1,798 2,058 1,994
Operating Profit 42 236 311 220 356 421
OPM % 14% 16% 17% 11% 15% 17%
0 7 11 164 132 83
Interest 4 17 37 54 73 63
Depreciation 2 44 59 83 88 94
Profit before tax 36 181 227 247 328 347
Tax % 29% 25% 25% 25% 25%
25 136 170 184 244 259
EPS in Rs 2.46 3.07 3.34 4.42 4.69
Dividend Payout % 0% 0% 0% 67% 45%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 18%
TTM: 14%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 22%
TTM: 33%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -1%
1 Year: -20%
Return on Equity
10 Years: %
5 Years: 26%
3 Years: 28%
Last Year: 27%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 0.01 28 28 111 111 111
Reserves 332 438 605 678 914 881
187 260 479 724 720 827
299 501 458 707 560 607
Total Liabilities 818 1,227 1,569 2,219 2,304 2,426
303 368 645 716 749 806
CWIP 17 71 17 46 25 4
Investments 1 1 0 0 0 0
497 787 907 1,456 1,530 1,615
Total Assets 818 1,227 1,569 2,219 2,304 2,426

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
17 111 82 2 176
-22 -116 -115 -98 -84
-24 12 26 99 -94
Net Cash Flow -28 7 -7 2 -2
Free Cash Flow -5 -11 -34 -107 91
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 65% 64% 46% 29% 72%

Ratios

Standalone / View Consolidated

Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 69 21 18 20 32
Inventory Days 962 308 296 407 307
Days Payable 407 164 107 173 97
Cash Conversion Cycle 624 164 207 254 241
Working Capital Days 288 48 54 62 82
ROCE % 32% 29% 23% 25%

Insights

In beta
Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Total Store Count
Number of stores

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E-commerce Share of Revenue
%
Footwear Share of Revenue
%
Average Selling Price (ASP)
INR per pair
Footwear Volume Sold
Million pairs
Retail Footprint (Area)
sq ft
Number of Cities
Number of cities
Same-Store Sales Growth (SSSG)
%

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Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
71.77% 71.77% 71.79% 71.80% 71.80% 71.80% 71.80% 71.80% 71.79% 71.83% 71.83% 71.83%
2.74% 3.10% 3.17% 3.30% 3.48% 3.53% 3.64% 3.83% 3.88% 3.81% 3.21% 3.02%
7.30% 7.86% 8.89% 10.20% 10.23% 10.25% 10.27% 10.77% 10.88% 11.01% 11.74% 11.84%
18.20% 17.28% 16.16% 14.72% 14.50% 14.44% 14.30% 13.60% 13.45% 13.36% 13.22% 13.32%
No. of Shareholders 63,14757,88055,67155,82465,35474,36478,75279,83079,37977,94375,57676,289

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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