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Redington Limited
(REDINGTON)
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Rating:60Neutral
Price Target:
₹428.00
▲(20.85% Upside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weak earnings quality and cash conversion, with 2026 operating and free cash flow turning negative alongside margin compression. Offsetting factors are a supportive balance sheet with improving leverage, a strong technical uptrend (despite overbought RSI), and a reasonable valuation with a modest dividend yield.
Positive Factors
Sustained revenue growth
Revenue growth from 569.3B in 2021 to 1,191.6B in 2026 indicates sustained expansion in distribution volumes and market reach. This scale can strengthen vendor and channel relationships, supporting continued relevance of the platform over the next several quarters.
Negative Factors
Volatile cash conversion
The shift from strong operating cash flow of 10.8B in 2024 to slightly negative cash flow in 2026, alongside negative free cash flow, signals unstable cash conversion. Such volatility can constrain internally funded growth and increase execution risk even when reported earnings remain positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue growth
Revenue growth from 569.3B in 2021 to 1,191.6B in 2026 indicates sustained expansion in distribution volumes and market reach. This scale can strengthen vendor and channel relationships, supporting continued relevance of the platform over the next several quarters.
Read all positive factors
Redington Limited (REDINGTON) vs. iShares MSCI India ETF (INDA)
Market Cap
₹318.38B
Dividend Yield1.47%
Average Volume (3M)463.38K
Price to Earnings (P/E)18.7
Beta (1Y)1.60
Revenue Growth23.20%
EPS Growth4.09%
CountryIN
Employees13,457
SectorGeneral
Sector StrengthN/A
IndustryTechnology Distributors
Share Statistics
EPS (TTM)21.76
Shares Outstanding781,774,400
10 Day Avg. Volume431,304
30 Day Avg. Volume463,375
Financial Highlights & Ratios
PEG Ratio-1.47
Price to Book (P/B)1.54
Price to Sales (P/S)0.13
P/FCF Ratio-93.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)26.33
Revenue Forecast (FY)₹1.47T
Redington Limited Business Overview & Revenue Model
Company Description
Redington Limited, founded in Chennai, India, in 1961, operates internationally as a comprehensive provider of supply chain solutions, specializing across information technology, telecommunications, lifestyle products, healthcare, and solar energy...
How the Company Makes Money
Redington primarily makes money by acting as an intermediary in the technology supply chain, purchasing products from technology manufacturers and selling them onward to channel partners and business customers. Its core revenue stream is product d...
Redington Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
71
Positive
Cash Flow
35
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.28T | 1.19T | 992.91B | 893.10B | 793.37B | 626.12B |
| Gross Profit | 43.84B | 40.40B | 38.07B | 37.83B | 35.77B | 29.12B |
| EBITDA | 25.63B | 22.39B | 28.70B | 21.30B | 22.52B | 18.74B |
| Net Income | 17.01B | 14.90B | 16.05B | 12.19B | 13.93B | 12.80B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 338.39B | 275.84B | 243.94B | 232.83B | 184.16B |
| Cash, Cash Equivalents and Short-Term Investments | 11.10B | 11.10B | 13.72B | 16.12B | 19.72B | 36.47B |
| Total Debt | 0.00 | 28.42B | 28.09B | 29.58B | 33.21B | 8.31B |
| Total Liabilities | -104.24B | 234.15B | 183.87B | 165.32B | 159.90B | 123.08B |
| Stockholders Equity | 104.24B | 101.61B | 87.21B | 75.49B | 69.27B | 57.85B |
Cash Flow | ||||||
| Free Cash Flow | 6.41B | -1.67B | 1.56B | 9.57B | -33.96B | 8.63B |
| Operating Cash Flow | 7.37B | -96.40M | 2.93B | 10.79B | -32.34B | 9.89B |
| Investing Cash Flow | 228.50M | -937.30M | 5.60B | 1.45B | 1.76B | -565.20M |
| Financing Cash Flow | -8.66B | -6.75B | -11.71B | -13.81B | 15.29B | -4.76B |
Redington Limited Technical Analysis
Positive
354.15
Price Trends
346.99
Positive
295.52
Positive
270.08
Positive
Market Momentum
17.02
Negative
65.43
Neutral
69.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:REDINGTON, the sentiment is Positive. The current price of 354.15 is below the 20-day moving average (MA) of 383.90, above the 50-day MA of 346.99, and above the 200-day MA of 270.08, indicating a bullish trend. The MACD of 17.02 indicates Negative momentum. The RSI at 65.43 is Neutral, neither overbought nor oversold. The STOCH value of 69.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:REDINGTON.
Redington Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹3.42T | 19.46 | ― | 4.76% | 12.59% | 2.65% | |
78 Outperform | ₹1.62T | 12.99 | ― | 4.87% | 6.40% | -1.86% | |
75 Outperform | ₹1.21T | 26.78 | ― | 2.64% | 13.87% | 10.72% | |
70 Outperform | ₹1.52T | 26.72 | ― | 3.30% | 10.95% | 12.97% | |
70 Neutral | ₹433.46B | 22.28 | ― | 2.73% | 13.69% | 9.34% | |
60 Neutral | ₹318.38B | 18.72 | ― | 1.47% | 23.20% | 4.09% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:REDINGTON
Redington Limited
407.25
121.67
42.60%
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Redington Limited Corporate Events
Redington posts record Q1 FY27 results on broad-based tech demand
Jul 29, 2026
Redington Limited reported its highest-ever quarterly performance for Q1 FY27, with consolidated revenue rising 34% year-on-year to ₹34,966 crore and profit after tax excluding exceptional items surging 77% to ₹486 crore, lifting the P...
Redington Holds 33rd AGM via Video Conferencing, Emphasizes Governance
Jul 29, 2026
Redington Limited held its 33rd Annual General Meeting on July 29, 2026, via video conferencing in line with guidance from the Ministry of Corporate Affairs and SEBI. The meeting was duly convened with the required quorum, and shareholders, direct...
Redington Closes Trading Window Ahead of June-Quarter Results
Jun 29, 2026
Redington Limited has announced that its trading window will be closed from July 1, 2026, in line with its code of conduct and Indian securities regulations governing insider trading. The blackout period will remain in force until 48 hours after t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.