Redtape Ltd
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]
- Market Cap ₹ 7,711 Cr.
- Current Price ₹ 140
- High / Low ₹ 164 / 102
- Stock P/E 32.1
- Book Value ₹ 18.5
- Dividend Yield 0.54 %
- ROCE 24.1 %
- ROE 26.6 %
- Face Value ₹ 2.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.8%
- Company has been maintaining a healthy dividend payout of 41.6%
Cons
- Stock is trading at 7.55 times its book value
- Earnings include an other income of Rs.133 Cr.
* 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 3m | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 303 | 1,468 | 1,843 | 2,021 | 2,419 | |
| 256 | 1,224 | 1,524 | 1,682 | 2,071 | |
| Operating Profit | 47 | 244 | 319 | 339 | 347 |
| OPM % | 16% | 17% | 17% | 17% | 14% |
| -0 | 7 | 13 | 32 | 133 | |
| Interest | 4 | 17 | 37 | 54 | 68 |
| Depreciation | 2 | 44 | 59 | 83 | 88 |
| Profit before tax | 41 | 189 | 236 | 233 | 324 |
| Tax % | 29% | 25% | 25% | 27% | 26% |
| 29 | 142 | 176 | 170 | 241 | |
| EPS in Rs | 2.57 | 3.19 | 3.08 | 4.35 | |
| Dividend Payout % | 0% | 0% | 0% | 73% | 52% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 18% |
| TTM: | 20% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 19% |
| TTM: | 42% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 0% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 3 Years: | 27% |
| Last Year: | 27% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.01 | 28 | 28 | 111 | 111 |
| Reserves | 336 | 449 | 621 | 678 | 911 |
| 28 | 260 | 480 | 724 | 720 | |
| 461 | 502 | 460 | 712 | 564 | |
| Total Liabilities | 826 | 1,239 | 1,588 | 2,224 | 2,306 |
| 304 | 368 | 646 | 717 | 750 | |
| CWIP | 17 | 71 | 17 | 46 | 25 |
| Investments | 1 | 1 | 0 | 0 | 0 |
| 504 | 799 | 925 | 1,461 | 1,531 | |
| Total Assets | 826 | 1,239 | 1,588 | 2,224 | 2,306 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 44 | 127 | 84 | 4 | 174 | |
| -49 | -127 | -116 | -110 | -84 | |
| -17 | 12 | 26 | 99 | -94 | |
| Net Cash Flow | -22 | 12 | -5 | -7 | -4 |
| Free Cash Flow | -5 | -6 | -32 | -104 | 89 |
| CFO/OP | 69% | 71% | 46% | 20% | 73% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 68 | 21 | 18 | 20 | 32 |
| Inventory Days | 963 | 308 | 298 | 415 | 305 |
| Days Payable | 407 | 164 | 108 | 171 | 97 |
| Cash Conversion Cycle | 623 | 164 | 208 | 264 | 240 |
| Working Capital Days | 279 | 48 | 54 | 62 | 81 |
| ROCE % | 37% | 29% | 22% | 24% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Revenue Mix - Apparel & Accessories % |
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| Revenue Mix - Footwear % |
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| Total Retail Stores Number ・Standalone data |
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| Exclusive Mega Showrooms (Online Format) Number ・Standalone data |
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| In-house Footwear Manufacturing Share % ・Standalone data |
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| Number of Cities Present Number ・Standalone data |
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| Total Retail Area Sq. Ft. ・Standalone data |
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| Sales Channel Mix - Online % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Newspaper publication under Regulation 30 & 47 of SEBI (Listing Obligation and Disclosure Requirements) regulations 2015
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Recording Of Investor Meet
2d - Investor meet held May 26, 2026; audited Q4 and FY2026 results discussed, no UPSI shared.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - Investor meet held on May 26, 2026 discussing audited Q4 and FY26 results; recording available online.
- Results For The Quarter And Financial Year Ended 31St March 2026 2d
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
26 May - RedTape announced FY26 results: revenue Rs 2,415 crore, PAT Rs 244 crore, and FY27 growth outlook.
Annual reports
Concalls
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May 2026TranscriptAI SummaryPPT
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Feb 2026TranscriptAI SummaryPPT
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Nov 2025TranscriptPPT
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Nov 2025Transcript PPT REC
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Nov 2025TranscriptAI SummaryPPT
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.