Past 10 year's financial track record analysis by Moneyworks4me indicates that Redington Ltd is a good quality company.
The key valuation ratios of Redington Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Redington Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 21% | 20.3% | 18.4% | 15.6% | 15.1% | 27.5% | 20.4% | 48.3% | 37.7% | 30.4% | - |
| Value Creation Index ⓘ | 0.5 | 0.5 | 0.3 | 0.2 | 0.1 | 1.0 | 0.5 | 2.6 | 1.8 | 1.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 12,021 | 12,638 | 15,759 | 14,844 | 16,851 | 18,633 | 22,721 | 27,019 | 35,341 | 41,228 | 44,281 |
| Sales YoY Gr. | - | 5.1% | 24.7% | -5.8% | 13.5% | 10.6% | 21.9% | 18.9% | 30.8% | 16.7% | - |
| Adj EPS ⓘ | 2.2 | 2.3 | 2.9 | 2.5 | 2 | 6.3 | 3.4 | 12.1 | 13.8 | 13.5 | 13.9 |
| YoY Gr. | - | 8.3% | 23.5% | -14.9% | -18.3% | 214.9% | -45.8% | 252.8% | 13.6% | -1.9% | - |
| BVPS (₹) ⓘ | 17 | 19.2 | 20.1 | 21.1 | 20.3 | 22.9 | 26.2 | 32.6 | 39.7 | 46.4 | 50.1 |
| Adj Net Profit ⓘ | 173 | 187 | 231 | 197 | 157 | 493 | 267 | 946 | 1,074 | 1,055 | 1,088 |
| Cash Flow from Ops. ⓘ | 195 | 29.2 | 96.1 | 142 | 323 | 240 | 870 | 670 | -2,087 | 272 | - |
| Debt/CF from Ops. ⓘ | 1.5 | 16.4 | 7.4 | 5.4 | 2.6 | 4.9 | 0 | 0 | -0.8 | 5.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 14.7% | 19.6% | 22% | 16.7% | ||||
| Adj EPS ⓘ | 22.6% | 46.3% | 57.9% | -1.9% | ||||
| BVPSⓘ | 11.8% | 17.9% | 21% | 16.8% | ||||
| Share Price | 12.7% | 27.8% | 9.8% | 19.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 13.2 | 12.9 | 14.7 | 11.9 | 9.5 | 28.9 | 13.8 | 41 | 38 | 31.4 | 28.9 |
| Op. Profit Mgn % ⓘ | 2.4 | 2.6 | 2.5 | 2.4 | 2 | 2.2 | 2.2 | 2.4 | 2.4 | 2.5 | 2.3 |
| Net Profit Mgn % ⓘ | 1.4 | 1.5 | 1.5 | 1.3 | 0.9 | 2.6 | 1.2 | 3.5 | 3 | 2.6 | 2.5 |
| Debt to Equity ⓘ | 0.2 | 0.3 | 0.4 | 0.5 | 0.5 | 0.7 | 0 | 0 | 0.5 | 0.4 | 0 |
| Working Cap Days ⓘ | 80 | 89 | 82 | 93 | 88 | 86 | 71 | 72 | 78 | 83 | 42 |
| Cash Conv. Cycle ⓘ | 29 | 34 | 32 | 37 | 34 | 29 | 21 | 13 | 23 | 33 | 10 |
Sales growth is growing at healthy rate in last 3 years 21.97%
Net Profit is growing at healthy rate in last 3 years 57.85%
Sales growth is good in last 4 quarters at 14.14%
Return on Equity has declined versus last 3 years average to 28.90%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 13.9 | 15.4 |
| TTM Sales (₹ Cr.) | 44,281 | 92,116 |
| BVPS (₹.) ⓘ | 50.1 | 97.3 |
| Reserves (₹ Cr.) ⓘ | 3,759 | 7,449 |
| P/BV ⓘ | 3.87 | 1.99 |
| PE ⓘ | 13.94 | 12.58 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 157.10 / 237.30 |
| All Time Low / High (₹) | 8.01 / 237.30 |
| Market Cap (₹ Cr.) | 15,163 |
| Equity (₹ Cr.) | 156.4 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 69 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 12,021 | 12,638 | 15,759 | 14,844 | 16,851 | 18,633 | 22,721 | 27,019 | 35,341 | 41,228 |
| Operating Expenses ⓘ | 11,729 | 12,308 | 15,395 | 14,504 | 16,529 | 18,236 | 22,250 | 26,386 | 34,483 | 40,208 |
| Manufacturing Costs | 6 | 7 | 10 | 7 | 7 | 8 | 9 | 4 | 36 | 40 |
| Material Costs | 11,383 | 11,959 | 14,952 | 14,063 | 16,063 | 17,874 | 21,863 | 25,894 | 33,848 | 39,533 |
| Employee Cost | 80 | 94 | 118 | 132 | 139 | 144 | 152 | 172 | 232 | 255 |
| Other Costs ⓘ | 261 | 249 | 315 | 302 | 321 | 210 | 226 | 316 | 367 | 380 |
| Operating Profit ⓘ | 292 | 330 | 364 | 341 | 323 | 396 | 471 | 633 | 859 | 1,020 |
| Operating Profit Margin (%) | 2.4% | 2.6% | 2.3% | 2.3% | 1.9% | 2.1% | 2.1% | 2.3% | 2.4% | 2.5% |
| Other Income ⓘ | 61 | 52 | 46 | 46 | 58 | 374 | 71 | 512 | 542 | 529 |
| Interest ⓘ | 70 | 86 | 86 | 101 | 143 | 118 | 46 | 11 | 98 | 209 |
| Depreciation ⓘ | 11 | 10 | 12 | 14 | 12 | 26 | 28 | 30 | 26 | 36 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 273 | 285 | 313 | 271 | 226 | 626 | 468 | 1,104 | 1,276 | 1,303 |
| Tax ⓘ | 91 | 97 | 105 | 87 | 74 | 136 | 204 | 169 | 204 | 222 |
| Profit After Tax | 182 | 189 | 208 | 184 | 152 | 490 | 263 | 935 | 1,072 | 1,081 |
| PAT Margin (%) | 1.5% | 1.5% | 1.3% | 1.2% | 0.9% | 2.6% | 1.2% | 3.5% | 3.0% | 2.6% |
| Adjusted EPS (₹) | 2.3 | 2.4 | 2.6 | 2.3 | 2.0 | 6.3 | 3.4 | 12.0 | 13.7 | 13.8 |
| Dividend Payout Ratio (%) | 42% | 44% | 83% | 52% | 84% | 34% | 171% | 55% | 53% | 45% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 1,361 | 1,538 | 1,610 | 1,685 | 1,582 | 1,780 | 2,037 | 2,545 | 3,103 | 3,624 |
| Share Capital ⓘ | 80 | 80 | 80 | 80 | 78 | 78 | 78 | 156 | 156 | 156 |
| Reserves ⓘ | 1,281 | 1,458 | 1,530 | 1,605 | 1,505 | 1,703 | 1,959 | 2,388 | 2,947 | 3,468 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 284 | 478 | 707 | 766 | 831 | 1,172 | 1 | 0 | 1,642 | 1,595 |
| Long Term Debt | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 284 | 478 | 707 | 766 | 830 | 1,172 | 1 | 0 | 1,642 | 1,595 |
| Trade Payables | 1,078 | 1,663 | 1,984 | 1,660 | 2,387 | 2,303 | 2,746 | 4,854 | 4,466 | 5,104 |
| Others Liabilities ⓘ | 865 | 316 | 325 | 415 | 464 | 527 | 678 | 619 | 788 | 674 |
| Total Liabilities ⓘ | 3,587 | 3,995 | 4,626 | 4,525 | 5,264 | 5,783 | 5,462 | 8,018 | 9,999 | 10,997 |
Fixed Assets | ||||||||||
| Gross Block | 151 | 101 | 118 | 125 | 128 | 135 | 140 | 148 | 252 | 279 |
| Accumulated Depreciation | 55 | 10 | 21 | 34 | 43 | 47 | 69 | 88 | 80 | 101 |
| Net Fixed Assetsⓘ | 96 | 91 | 97 | 92 | 85 | 88 | 71 | 60 | 172 | 178 |
| CWIP ⓘ | 4 | 14 | 1 | 15 | 33 | 0 | 0 | 85 | 10 | 4 |
| Investmentsⓘ | 546 | 594 | 603 | 605 | 638 | 645 | 640 | 668 | 750 | 750 |
| Inventories | 835 | 1,487 | 1,566 | 1,089 | 1,533 | 1,118 | 1,061 | 1,851 | 2,522 | 2,498 |
| Trade Receivables | 1,268 | 1,458 | 1,980 | 2,218 | 2,381 | 2,806 | 2,814 | 3,861 | 5,590 | 6,657 |
| Cash Equivalents | 29 | 50 | 77 | 120 | 121 | 618 | 304 | 876 | 190 | 139 |
| Others Assetsⓘ | 809 | 301 | 303 | 386 | 472 | 509 | 572 | 617 | 765 | 770 |
| Total Assets ⓘ | 3,587 | 3,995 | 4,626 | 4,525 | 5,264 | 5,783 | 5,462 | 8,018 | 9,999 | 10,997 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 195 | 29 | 96 | 142 | 323 | 240 | 870 | 670 | -2,087 | 272 |
| PBT ⓘ | 273 | 285 | 313 | 271 | 226 | 626 | 468 | 1,104 | 1,276 | 1,303 |
| Adjustment ⓘ | 59 | 76 | 81 | 101 | 152 | -176 | 35 | -389 | -369 | -218 |
| Changes in Working Capital ⓘ | -81 | -212 | -190 | -139 | 74 | -95 | 521 | 127 | -2818 | -497 |
| Tax Paid ⓘ | -56 | -120 | -108 | -91 | -128 | -116 | -154 | -172 | -176 | -317 |
| Cash Flow From Investing Activity ⓘ | -70 | -54 | -20 | 61 | -28 | 349 | 33 | 367 | 351 | 471 |
| Capex | 17 | -14 | -21 | 14 | -31 | -31 | -4 | -91 | -60 | 58 |
| Net Investments | 0 | 0 | -5 | 6 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -87 | -40 | 7 | 41 | 3 | 380 | 36 | 459 | 411 | 414 |
| Cash Flow From Financing Activityⓘ | -194 | 48 | -88 | -90 | -296 | -88 | -1,217 | -468 | 1,048 | -791 |
| Net Proceeds from Shares ⓘ | 1 | 1 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 2 | -2 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -79 | -81 | -81 | -96 | -121 | -103 | -44 | -6 | -71 | -177 |
| Dividend Paid ⓘ | -41 | -90 | -194 | -106 | -96 | -296 | 0 | -453 | -516 | -563 |
| Others ⓘ | -75 | 219 | 187 | 110 | -81 | 313 | -1,173 | -10 | 1,635 | -52 |
| Net Cash Flow ⓘ | -69 | 24 | -12 | 113 | -1 | 501 | -314 | 570 | -688 | -48 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 13.85 | 13.02 | 13.24 | 11.17 | 9.31 | 29.12 | 13.8 | 40.82 | 37.96 | 32.15 |
| ROCE (%) | 20.95 | 20.32 | 18.4 | 15.61 | 15.07 | 27.52 | 20.38 | 48.3 | 37.66 | 30.35 |
| Asset Turnover Ratio | 3.64 | 3.33 | 3.66 | 3.24 | 3.44 | 3.37 | 4.04 | 4.01 | 3.92 | 3.93 |
| PAT to CFO Conversion(x) | 1.07 | 0.15 | 0.46 | 0.77 | 2.13 | 0.49 | 3.31 | 0.72 | -1.95 | 0.25 | Working Capital Days |
| Receivable Days | 38 | 39 | 40 | 52 | 50 | 51 | 45 | 45 | 49 | 54 |
| Inventory Days | 25 | 34 | 35 | 33 | 28 | 26 | 18 | 20 | 23 | 22 |
| Payable Days | 35 | 42 | 45 | 47 | 46 | 48 | 42 | 54 | 50 | 44 |
Established in 1993, Redington has traversed an eventful and exciting journey to evolve from very humble beginnings into the company. The incredible journey has seen the company emerges from one brand, one product category, and one market into a billions of distribution and supply chain solutions provider to over many international brands in IT and Mobility spaces, serving various emerging markets. Redington (India) Limited is a public limited Company domiciled in India, incorporated under the provisions of the Companies Act, 1956. The company’s equity shares are listed on the bourses of BSE Limited and National Stock Exchange of India (NSE) Limited.
Redington is a leading distributor of technology & communication products and provider of services and solutions across various emerging markets. The company’s offerings include PC, Notebooks, Tablets, Printing Solutions, Servers, Storage, Software, Networking Solutions, Security Solutions, Smart Phones and Cloud.
Besides India and Turkey, its operations span across markets in South Asia, the Middle East and Africa. As a premier distributor for many global technology vendors, it leveraged a powerful network of thousands of channel partners.
Through two wholly-owned subsidiary companies, it also operates in the field of Third-party Logistics & Supply Chain Solutions and in the field of Repair and Maintenance of Technology Products & Infrastructure. These adjacencies allow the company to widen its coverage of technology distribution value chain.
Today, new-age technologies like Artificial Intelligence (AI), Robotics, Big Data and Analytics, Internet of Things (IoT), and 5G communications are opening new possibilities and new opportunities for tomorrow.
Business area of the company
The company is engaged in the business of distribution of information technology, mobility and other technology products besides supply chain solutions. The company has an operating branch in Singapore. The Company, its subsidiaries and associate operates in India, Middle East, Turkey, Africa, and South Asian countries.
Awards
FY2016-17
FY2017-18
FY2019-20
History and milestones
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Claim your FREE 15-day access to the most practical investing handbook.
Hurry, limited to the first 10 users today!
FREE Become a savvy and confident
stock investor.
Hurry, limited to the first 10 users today!
Download APP
