Redtape Ltd

Redtape Ltd

₹ 612 0.91%
21 Feb 4:12 p.m.
About

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]

Key Points

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.

  • Market Cap 8,450 Cr.
  • Current Price 612
  • High / Low 672 / 411
  • Stock P/E 49.8
  • 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 15.3 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.

Peer comparison

Sector: Retail Industry: Trading

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
306 306 478 379 394 325 618
252 262 391 319 313 267 513
Operating Profit 53 45 87 60 81 58 105
OPM % 17% 15% 18% 16% 20% 18% 17%
2 3 1 1 2 2 4
Interest 4 4 5 5 6 9 10
Depreciation 11 10 10 13 12 15 16
Profit before tax 41 33 73 42 64 36 82
Tax % 31% 22% 27% 17% 27% 23% 26%
28 26 53 35 47 28 61
EPS in Rs 2.50 3.38 2.01 4.40
Raw PDF

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
10 Years: %
5 Years: %
3 Years: %
TTM: 384%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 385%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: %
3 Years: %
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%

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023
71.77% 71.77%
2.22% 2.74%
6.44% 7.30%
19.58% 18.20%
No. of Shareholders 59,22063,147

* 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.

Click on the line-items to see the names of individual entities.

Documents