Redtape Ltd

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

Redtape Ltd

₹ 116 5.79%
01 Apr 12:53 p.m.
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 ₹ 6,418 Cr.
  • Current Price ₹ 116
  • High / Low ₹ 164 / 102
  • Stock P/E 30.3
  • Book Value ₹ 15.5
  • Dividend Yield 0.66 %
  • ROCE 21.7 %
  • ROE 23.6 %
  • Face Value ₹ 2.00
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Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.9%

Cons

  • Stock is trading at 7.37 times its book value
  • 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

Consumer Discretionary Consumer Durables Consumer Durables Footwear

Part of BSE Allcap BSE Consumer Discretionary Nifty Microcap 250 Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
478 379 395 325 618 507 442 416 661 505 464 492 787
391 319 313 267 513 432 373 352 536 424 387 420 616
Operating Profit 87 60 82 58 105 75 69 64 125 81 77 73 171
OPM % 18% 16% 21% 18% 17% 15% 16% 15% 19% 16% 17% 15% 22%
1 1 1 2 4 5 2 3 9 14 9 10 7
Interest 5 5 6 9 10 10 10 12 13 16 16 19 18
Depreciation 10 13 12 15 16 15 19 21 22 21 21 22 23
Profit before tax 73 42 64 36 82 54 42 35 99 58 49 42 137
Tax % 27% 17% 27% 23% 26% 25% 26% 28% 26% 28% 21% 34% 24%
53 35 47 28 61 41 31 25 73 41 39 28 105
EPS in Rs 0.62 0.85 0.50 1.10 0.74 0.55 0.45 1.32 0.75 0.70 0.50 1.89
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 3m Mar 2023 Mar 2024 Mar 2025 TTM
303 1,468 1,843 2,021 2,248
256 1,224 1,524 1,682 1,847
Operating Profit 47 244 319 339 402
OPM % 16% 17% 17% 17% 18%
-0 7 13 32 40
Interest 4 17 37 54 69
Depreciation 2 44 59 83 87
Profit before tax 41 189 236 233 286
Tax % 29% 25% 25% 27%
29 142 176 170 212
EPS in Rs 2.57 3.19 3.08 3.84
Dividend Payout % 0% 0% 0% 73%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 88%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 80%
TTM: 25%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -25%
Return on Equity
10 Years: %
5 Years: %
3 Years: 29%
Last Year: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 0.01 28 28 111 111
Reserves 336 449 621 678 747
28 260 480 724 930
461 502 460 712 504
Total Liabilities 826 1,239 1,588 2,224 2,291
304 368 646 717 749
CWIP 17 71 17 46 9
Investments 1 1 0 0 0
504 799 925 1,461 1,533
Total Assets 826 1,239 1,588 2,224 2,291

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Mar 2023 Mar 2024 Mar 2025
44 127 84 4
-49 -127 -116 -110
-17 12 26 99
Net Cash Flow -22 12 -5 -7
Free Cash Flow -5 -6 -32 -104
CFO/OP 69% 71% 46% 20%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 68 21 18 20
Inventory Days 963 308 298 415
Days Payable 407 164 108 171
Cash Conversion Cycle 623 164 208 264
Working Capital Days 279 48 54 62
ROCE % 37% 29% 22%

Insights

In beta
Mar 2022 Mar 2023 Mar 2024 Mar 2025
Revenue Mix - Apparel & Accessories
%

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Revenue Mix - Footwear
%
Total Retail Stores
Number ・Standalone data
Exclusive Mega Showrooms (Online Format)
Number ・Standalone data
In-house Footwear Manufacturing Share
% ・Standalone data
Number of Cities Present
Number ・Standalone data
Total Retail Area
Sq. Ft. ・Standalone data
Sales Channel Mix - Online
%

Shareholding Pattern

Numbers in percentages

7 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
71.77% 71.77% 71.77% 71.79% 71.80% 71.80% 71.80% 71.80% 71.80% 71.79%
2.22% 2.74% 3.10% 3.17% 3.30% 3.48% 3.53% 3.64% 3.83% 3.88%
6.44% 7.30% 7.86% 8.89% 10.20% 10.23% 10.25% 10.27% 10.77% 10.88%
19.58% 18.20% 17.28% 16.16% 14.72% 14.50% 14.44% 14.30% 13.60% 13.45%
No. of Shareholders 59,22063,14757,88055,67155,82465,35474,36478,75279,83079,379

* 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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Documents

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Credit ratings

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