REDINGTON

Redington share price & financials

Price
₹275.05
Market cap
₹27.7k Cr
Sector
Services
Calls analysed
7
Latest concall · Q1 FY27 · call held 30 Jul 2026

Redington Limited Q1 FY27

Consolidated Revenue ₹34,966 cr +34%EBITDA ₹751 cr +67%PAT ₹486 cr +77%ROCE 22%

What went well

  • Consolidated Revenue of INR34,966 crores, reflecting a growth of 34% year-on-year.
  • EBITDA stood at INR751 crores, a growth of 67% year-on-year.
  • PAT stood at INR486 crores, a growth of 77% year-on-year.

What to watch

  • Arena (Turkey) business recorded a loss of INR64 crores (Redington portion INR31 crores) due to lower revenue, divestment of Paynet, and gross margin compression.
  • Geopolitical tensions in Middle East led to demand softening in UAE (-3% to -4% decline) and Saudi Arabia (slightly larger decline).
Read the full call →

What Redington Limited does

Redington is a technology products and solutions distributor that connects global IT, mobile, cloud, software and security brands with channel partners such as resellers, system integrators, retailers and e-commerce players across India, the Middle East, Africa and Turkey. It earns by sourcing products and cloud/software subscriptions from OEMs and vendors and distributing them through its own warehouses, sales offices and service centers, supported by channel financing, pre/post-sales technical support and its CloudQuarks digital marketplace platform. Its Technology Solutions, Cloud Solutions, End Point Solutions and Mobility Solutions groups cover enterprise infrastructure, cloud/hyperscaler services, PCs/printers/peripherals and smartphones/wearables respectively, while subsidiaries ProConnect (supply chain/logistics), Ensure Services (support services) and Arena (Turkey/CIS) extend the group's reach.

Segments

  • Technology Solutions Group
  • Cloud Solutions Group
  • End Point Solutions Group
  • Mobility Solutions Group
Channel partners served
70,000+
Global brand partnerships
450+
Markets served
40+
Countries with in-country operating presence
32
Warehouses
182
Sales offices
71
Headquarters Chennai, IndiaEmployees 5,081 (FY 2024-25 (March 2025)) Company website

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 6 delivered 4 missed 10 open
  • Working Capital Days delivered said Q3 FY25 Promised: 35-40 days Q1 FY27: Actual was 32 days, remaining well below the guided range of 35-40 days.
  • Global IT Distribution Ranking went quiet said Q3 FY25 Promised: Top 5 in next few years Q1 FY27: This aspirational goal was not mentioned in the call.
  • Arena Profitability at risk said Q2 FY26 Promised: Breakeven by FY27 Q1 FY27: Arena posted a loss of INR 64 crores. Management stated, 'in our view, I think the current year, we might have this loss continuing.' This puts the FY27 breakeven target in serious jeopardy.

All 20 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 34.6%, net profit up 94.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue24,896 26,716 26,440 25,952 29,076 +17%30,922 +16%33,213 +26%34,922 +35%
EBITDA458 602 597 400 589 +29%626 +4%614 +3%708 +77%
Net profit283 403 918 233 350 +24%413 +2%288 −69%453 +94%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +61.2% 1Y

₹200₹250₹300₹350₹400Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 6 Nov 2025Q3 FY26 — 5 Feb 2026Q4 FY26 — 14 May 2026Q1 FY27 — 30 Jul 2026

1Y: ₹244.17 on 10 Sept 2025 → ₹393.7. High ₹393.7 (11 Sept 2026), low ₹199.95 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+8.2%
30 Jul
Q4 FY26
+3.4%
14 May
Q3 FY26
−5.6%
5 Feb
Q2 FY26
+15.9%
6 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 14.5% a year over 3 years, FY23 to FY26. Operating margin narrowed to 1.9%.

Year endingFY23FY24FY25FY26
Revenue₹79.4k Cr₹89.3k Cr₹99.3k Cr₹119.2k Cr
Operating profit₹2.1k Cr₹1.9k Cr₹2.0k Cr₹2.2k Cr
Operating margin2.7%2.1%2.0%1.9%
Interest₹271 Cr₹385 Cr₹331 Cr₹359 Cr
Depreciation₹155 Cr₹181 Cr₹217 Cr₹206 Cr
Net profit₹1.4k Cr₹1.2k Cr₹1.8k Cr₹1.3k Cr
Net margin1.8%1.4%1.8%1.1%
Cash from operations₹-3.2k Cr₹1.1k Cr₹293 Cr₹231 Cr
Free cash flow₹-3.4k Cr₹1.0k Cr₹138 Cr₹125 Cr
ROCE25.0%19.0%19.0%18.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹78 Cr₹156 Cr₹156 Cr₹156 Cr₹156 Cr₹156 Cr
Reserves₹4.9k Cr₹5.6k Cr₹6.8k Cr₹7.4k Cr₹8.9k Cr₹10.0k Cr
Borrowings₹622 Cr₹831 Cr₹3.3k Cr₹3.0k Cr₹2.6k Cr₹2.8k Cr
Other liabilities₹9.0k Cr₹11.8k Cr₹13.0k Cr₹13.9k Cr₹18.2k Cr₹20.8k Cr
Total liabilities₹14.6k Cr₹18.4k Cr₹23.3k Cr₹24.4k Cr₹29.8k Cr₹33.8k Cr
Fixed assets₹605 Cr₹700 Cr₹877 Cr₹861 Cr₹788 Cr₹666 Cr
Capital work in progress₹1 Cr₹85 Cr₹12 Cr₹6 Cr₹39 Cr₹75 Cr
Investments₹0 Cr₹0 Cr₹34 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹14.0k Cr₹17.6k Cr₹22.4k Cr₹23.5k Cr₹29.0k Cr₹33.1k Cr
Total assets₹14.6k Cr₹18.4k Cr₹23.3k Cr₹24.4k Cr₹29.8k Cr₹33.8k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +0.90 pp while FIIs trimmed −0.62 pp. The shareholder count grew 10% to 2,41,094.

FIIs
62.0%
DIIs
16.4%
Government
0.1%
Public
21.6%

Since Jun 2025

  • Public +0.90 pp
  • FIIs −0.62 pp
  • DIIs −0.28 pp

How it drifted, 12 quarters

Over this window FIIs went from 56.3% to 62.0% — +5.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: FIIs 56.3%, DIIs 17.4%, Government 0.0%, Public 26.3%.Dec '23: FIIs 57.0%, DIIs 17.9%, Government 0.0%, Public 25.1%.Mar '24: FIIs 58.1%, DIIs 18.6%, Government 0.0%, Public 23.3%.Jun '24: FIIs 57.9%, DIIs 18.1%, Public 24.0%.Sep '24: FIIs 58.1%, DIIs 18.1%, Public 23.8%.Dec '24: FIIs 58.5%, DIIs 18.6%, Public 22.8%.Mar '25: FIIs 60.6%, DIIs 17.9%, Government 0.1%, Public 21.5%.Jun '25: FIIs 62.6%, DIIs 16.6%, Government 0.1%, Public 20.7%.Sep '25: FIIs 61.8%, DIIs 17.0%, Government 0.1%, Public 21.2%.Dec '25: FIIs 61.9%, DIIs 17.3%, Government 0.1%, Public 20.7%.Mar '26: FIIs 61.5%, DIIs 17.1%, Government 0.1%, Public 21.3%.Jun '26: FIIs 62.0%, DIIs 16.4%, Government 0.1%, Public 21.6%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Redington Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Synnex Technology International Corporation Corporate24.12%unchanged
HDFC Small Cap Fund Mutual fund7.27%−1.76 pp
Fidelity Puritan Trust-Fidelity Low-Priced Stock F Global fund house2.83%unchanged
ICICI Prudential Life Insurance Company Limited Insurer2.78%unchanged
Government Pension Fund Global Sovereign2.16%newly disclosed
Fidelity Investment Trust Fidelity International Small Cap Fund AIF2.05%+0.52 pp
Massachusetts Institute Of Technology Endowment1.88%unchanged
Rbc Emerging Markets Dividend Fund FPI fund1.44%+0.34 pp
Unifi Blend Fund 2 Mutual fund1.11%unchanged
Vanguard Total International Stock Index Fund Global fund house1.08%unchanged
Vanguard Emerging Markets Stock Index Fund, a Series of Vanguard International Equity Index Funds Global fund house1.02%unchanged
Tata Mutual Fund- Tata Small Cap Fund Mutual fund1.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in REDINGTON

Filings to Aug 2026

0 new, 5 added, 2 trimmed, 0 sold out — net −8.59 L shares (−3.0%).

Held by funds
₹913 Cr
11 schemes
Biggest holder
HDFC Small Cap Fund
₹436 Cr · 1.1% of that fund
SchemeHoldingLast month
HDFC Small Cap Fund HDFC Mutual Fund₹436 Crheld
HDFC Hybrid Equity Fund HDFC Mutual Fund₹229 Cr−8.76 L
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹126 Crheld
HDFC Retirement Savings Fund - Equity Plan HDFC Mutual Fund₹58 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹34 Cr+0.12 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹17 Cr+0.05 L
HDFC Technology Fund HDFC Mutual Fund₹10 Crheld
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 2 trimmed — net −8.59 L shares (−3.0%)

Funds are sitting on
+49%
vs est. average cost
Held by funds
₹913 Cr
11 schemes · ≈ 2.8% of the company
Biggest holder
HDFC Small Cap Fund
₹436 Cr · 1.1% of that fund
Longest holder
Nippon India Nifty Smallcap 250 Index Fund
5y 11m · since Oct '20

Shares held by these funds −60%

Aug '23 2.82 cr shares Jul '26

What the price assumes

Expensive

To justify its price of ₹394, this stock must grow earnings at 13% every year for 7 years. Our analysis caps realistic growth at ~2%. At that growth it is worth ₹226 — downside of 43%.

Growth the price implies
12.6% a year
for 7 years, fading to 4%
It has actually compounded at
-3.7% a year
net profit, FY23–FY26 · EPS 2.3%
The gap
0.1 pp
-43% downside if it only repeats history
Price today ₹393.7 Value at the reference growth ₹226.07

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Redington Limited

Guides on how to read this kind of business and the numbers that matter.