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Redington Limited
(REDINGTON)
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Rating:60Neutral
Price Target:
₹413.00
▲(16.62% 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
Strong revenue growth
Revenue has more than doubled across the reported period, demonstrating sustained expansion in the company’s distribution activity. This scale supports broader channel reach, stronger vendor relevance, and greater operating capacity, although profitability will determine how much of the growth converts into lasting earnings.
Negative Factors
Weak and volatile cash conversion
Negative operating and free cash flow indicate that reported business activity is not consistently converting into cash. The multi-year volatility points to material working-capital and cash-conversion swings, which can constrain reinvestment and increase execution risk even when accounting earnings remain positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Revenue has more than doubled across the reported period, demonstrating sustained expansion in the company’s distribution activity. This scale supports broader channel reach, stronger vendor relevance, and greater operating capacity, although profitability will determine how much of the growth converts into lasting earnings.
Read all positive factors
Redington Limited (REDINGTON) vs. iShares MSCI India ETF (INDA)
Market Cap
₹307.75B
Dividend Yield1.52%
Average Volume (3M)648.55K
Price to Earnings (P/E)18.1
Beta (1Y)1.53
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. Volume410,567
30 Day Avg. Volume648,548
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
325.32
Positive
278.95
Positive
264.66
Positive
Market Momentum
16.97
Negative
71.29
Negative
83.99
Negative
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 360.88, above the 50-day MA of 325.32, and above the 200-day MA of 264.66, indicating a bullish trend. The MACD of 16.97 indicates Negative momentum. The RSI at 71.29 is Negative, neither overbought nor oversold. The STOCH value of 83.99 is Negative, 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 | ₹3.28T | 18.66 | ― | 4.97% | 12.59% | 2.65% | |
78 Outperform | ₹1.66T | 13.25 | ― | 4.78% | 6.40% | -1.86% | |
75 Outperform | ₹1.28T | 26.78 | ― | 2.51% | 13.87% | 10.72% | |
70 Outperform | ₹1.51T | 26.60 | ― | 3.31% | 10.95% | 12.97% | |
70 Neutral | ₹437.89B | 22.89 | ― | 2.70% | 13.69% | 9.34% | |
60 Neutral | ₹307.75B | 18.09 | ― | 1.52% | 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
393.65
157.39
66.61%
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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...
Redington Adds Tax Veteran Ajay Rotti as Independent Director
Jun 22, 2026
Redington Limited’s board has approved the appointment of tax expert Ajay Rotti Jayathirtha as an Additional Non-Executive Independent Director for a five-year term starting June 22, 2026, subject to shareholder approval. His appointment is ...
Redington Showcases Strategic Shift From Software Distribution to Intelligent Orchestration
Jun 17, 2026
Redington Limited has scheduled a virtual investor and analyst meet on June 17, 2026, to present its transformation journey under the theme “From Software Distribution to Intelligent Orchestration.” The company has shared the presentat...
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.