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Redtape Limited
(REDTAPE)
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Rating:59Neutral
Price Target:
₹108.00
▼(-11.80% Downside)
Action:Reiterated
Date:08/30/26
The score is primarily driven by solid growth and profitability but meaningfully tempered by historically volatile free cash flow and a sizable debt balance. Technicals are currently neutral-to-weak, and valuation is moderately expensive with only modest dividend support.
Positive Factors
Revenue Growth
The substantial increase in revenue demonstrates strong demand expansion for Red Tape’s branded footwear and apparel offering. Continued top-line growth can improve operating scale, support broader distribution, and provide a durable foundation for reinvestment in products, stores, marketing, and digital channels.
Negative Factors
Volatile Free Cash Flow
The multi-year pattern of negative and sharply fluctuating free cash flow shows that reported profitability has not consistently converted into cash. This can constrain internally funded growth and create liquidity pressure during periods of inventory investment, working-capital expansion, or heightened operating needs.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The substantial increase in revenue demonstrates strong demand expansion for Red Tape’s branded footwear and apparel offering. Continued top-line growth can improve operating scale, support broader distribution, and provide a durable foundation for reinvestment in products, stores, marketing, and digital channels.
Read all positive factors
Redtape Limited (REDTAPE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹57.22B
Dividend Yield1.93%
Average Volume (3M)26.12K
Price to Earnings (P/E)23.3
Beta (1Y)1.02
Revenue Growth18.82%
EPS Growth38.28%
CountryIN
Employees660
SectorGeneral
Sector StrengthN/A
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)4.45
Shares Outstanding552,807,600
10 Day Avg. Volume18,363
30 Day Avg. Volume26,119
Financial Highlights & Ratios
PEG Ratio0.65
Price to Book (P/B)6.24
Price to Sales (P/S)2.63
P/FCF Ratio72.32
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)N/A
Revenue Forecast (FY)N/A
Redtape Limited Business Overview & Revenue Model
Company Description
Established in 1996 and based in Noida, India, Redtape Limited is an enterprise specializing in the manufacturing and global distribution of a diverse range of footwear and apparel. The company caters to men, women, and children, operating both wi...
How the Company Makes Money
Redtape Limited makes money mainly by selling branded consumer products (primarily footwear, and potentially apparel/accessories where offered) under its brand portfolio. Key revenue streams typically include: (1) Domestic sales to trade/distribut...
Redtape Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
67
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.36B | 24.19B | 20.20B | 18.43B | 14.68B | 3.03B |
| Gross Profit | 9.57B | 10.42B | 7.37B | 8.83B | 6.72B | 1.35B |
| EBITDA | 4.78B | 4.80B | 3.67B | 3.28B | 2.48B | 472.20M |
| Net Income | 2.46B | 2.41B | 1.70B | 1.76B | 1.42B | 290.40M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 23.06B | 22.24B | 15.88B | 12.39B | 8.26B |
| Cash, Cash Equivalents and Short-Term Investments | 90.50M | 90.50M | 145.70M | 210.40M | 261.80M | 142.60M |
| Total Debt | 0.00 | 7.20B | 7.24B | 4.80B | 2.60B | 1.87B |
| Total Liabilities | -10.21B | 12.84B | 14.35B | 9.40B | 7.62B | 5.00K |
| Stockholders Equity | 10.21B | 10.21B | 7.89B | 6.48B | 4.77B | 3.36B |
Cash Flow | ||||||
| Free Cash Flow | -1.68B | 880.90M | -1.79B | -351.40M | -189.00M | -1.48B |
| Operating Cash Flow | -1.24B | 1.74B | -76.10M | 843.70M | 1.27B | 402.50M |
| Investing Cash Flow | -592.60M | -844.10M | -1.07B | -1.16B | -1.27B | -491.70M |
| Financing Cash Flow | 1.82B | -939.90M | 1.20B | 261.00M | 124.30M | -132.30M |
Redtape Limited Technical Analysis
Negative
122.45
Price Trends
116.14
Negative
123.59
Negative
123.06
Negative
Market Momentum
-3.74
Positive
27.78
Positive
7.50
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:REDTAPE, the sentiment is Negative. The current price of 122.45 is above the 20-day moving average (MA) of 110.21, above the 50-day MA of 116.14, and below the 200-day MA of 123.06, indicating a bearish trend. The MACD of -3.74 indicates Positive momentum. The RSI at 27.78 is Positive, neither overbought nor oversold. The STOCH value of 7.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:REDTAPE.
Redtape Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | ₹67.91B | 36.53 | ― | 1.29% | 2.11% | 5.98% | |
60 Neutral | ₹80.79B | 55.26 | ― | 5.41% | 1.91% | -29.92% | |
59 Neutral | ₹57.22B | 23.27 | ― | 1.93% | 18.82% | 38.28% | |
58 Neutral | ₹58.32B | 37.92 | ― | 0.79% | 13.71% | 30.46% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
45 Neutral | ₹35.40B | -9.39 | ― | 0.37% | -10.75% | -340.31% | |
42 Neutral | ₹47.08B | -6.05 | ― | ― | -27.21% | -53.22% |
* General Sector Average
IN:REDTAPE
Redtape Limited
103.50
-31.80
-23.50%
IN:ABFRL
Aditya Birla Fashion and Retail Limited
38.72
-43.00
-52.62%
IN:BATAINDIA
Bata India Ltd
628.55
-394.29
-38.55%
IN:CAMPUS
Campus Activewear Ltd.
190.80
-86.70
-31.24%
IN:RELAXO
Relaxo Footwears Limited
272.80
-158.29
-36.72%
IN:VIPIND
V.I.P.INDUSTRIES LTD.
249.20
-157.75
-38.76%
Redtape Limited Corporate Events
Exchange Seeks Clarity After Unusual Trading Surge in Redtape Limited
Sep 15, 2026
A sharp rise in trading volume has been recorded in shares of Redtape Limited, prompting the stock exchange to seek clarification from the company. The move underscores regulators’ focus on ensuring that investors have timely, relevant infor...
Redtape Clears Q1 FY27 Unaudited Results With Clean Auditor Review
Aug 10, 2026
Redtape Limited said its board has approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, following a meeting held on August 10. The results, reviewed and recommended by the audit committee, will be p...
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.