Stock REDINGTON REDINGTON LIMITED
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Financials Redington Limited

Equities

REDINGTON

INE891D01026

Computer Hardware

Market Closed - NSE India S.E.
Other stock markets
 07:43:48 2024-04-26 am EDT 		5-day change 1st Jan Change
222.6 INR -0.45% Intraday chart for Redington Limited +1.67% +25.90%
Apr. 05 Redington to Offer Zoho Solutions in India Via New Deal; Shares Up 3% MT
Apr. 01 Redington Limited Announce Cessation of Keith W F Bradley as Independent Director CI

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 39,900 26,691 74,282 113,272 130,247 174,023 - -
Enterprise Value (EV) 1 40,785 28,295 43,523 84,987 130,247 200,019 204,089 202,747
P/E ratio 8.01 x 5.18 x 9.84 x 8.84 x 9.36 x 14.2 x 12.1 x 10.2 x
Yield 3.22% 6.27% 3.98% 4.55% - 2.85% 3.11% 3.41%
Capitalization / Revenue 0.09 x 0.05 x 0.13 x 0.18 x 0.16 x 0.19 x 0.17 x 0.15 x
EV / Revenue 0.09 x 0.05 x 0.08 x 0.14 x 0.16 x 0.22 x 0.2 x 0.18 x
EV / EBITDA 3.03 x 2.78 x 3.26 x 4.74 x 6.15 x 10.3 x 8.75 x 7.57 x
EV / FCF 4.13 x 3.21 x 1.26 x 9.84 x -3.84 x -199 x 49.2 x 19.5 x
FCF Yield 24.2% 31.2% 79.2% 10.2% -26.1% -0.5% 2.03% 5.13%
Price to Book 1.02 x 0.62 x 1.51 x 1.96 x 1.88 x 2.4 x 2.15 x 1.89 x
Nbr of stocks (in thousands) 778,163 778,176 778,439 781,457 781,561 781,774 - -
Reference price 2 51.28 34.30 95.42 145.0 166.6 222.6 222.6 222.6
Announcement Date 5/22/19 6/11/20 5/27/21 5/21/22 5/16/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 465,362 514,652 569,459 626,440 793,768 909,779 1,020,777 1,138,112
EBITDA 1 13,477 10,181 13,370 17,917 21,188 19,494 23,325 26,780
EBIT 1 12,843 8,627 11,888 16,504 19,634 17,631 21,208 24,261
Operating Margin 2.76% 1.68% 2.09% 2.63% 2.47% 1.94% 2.08% 2.13%
Earnings before Tax (EBT) 1 6,233 6,923 11,281 16,224 18,335 16,268 19,463 23,156
Net income 1 5,078 5,152 7,564 12,799 13,926 12,232 14,324 16,987
Net margin 1.09% 1% 1.33% 2.04% 1.75% 1.34% 1.4% 1.49%
EPS 2 6.400 6.620 9.700 16.39 17.81 15.72 18.35 21.75
Free Cash Flow 1 9,864 8,818 34,489 8,634 -33,956 -1,007 4,146 10,403
FCF margin 2.12% 1.71% 6.06% 1.38% -4.28% -0.11% 0.41% 0.91%
FCF Conversion (EBITDA) 73.19% 86.61% 257.95% 48.19% - - 17.77% 38.84%
FCF Conversion (Net income) 194.26% 171.16% 455.96% 67.46% - - 28.94% 61.24%
Dividend per Share 2 1.650 2.150 3.800 6.600 - 6.333 6.933 7.600
Announcement Date 5/22/19 6/11/20 5/27/21 5/21/22 5/16/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 169,808 155,039 134,540 152,875 166,007 173,018 168,031 190,507 216,743 218,486 211,872 228,230 250,886 240,216
EBITDA 1 4,241 4,251 3,443 4,316 5,252 4,905 4,618 5,324 5,814 5,432 4,192 4,852 5,408 5,296
EBIT 1 3,867 3,889 3,094 3,955 4,915 4,539 4,253 4,953 5,404 5,004 3,768 4,198 4,950 4,994
Operating Margin 2.28% 2.51% 2.3% 2.59% 2.96% 2.62% 2.53% 2.6% 2.49% 2.29% 1.78% 1.84% 1.97% 2.08%
Earnings before Tax (EBT) 3,716 3,848 3,014 3,907 4,867 4,435 4,137 4,708 4,942 4,547 3,519 3,555 4,332 4,154
Net income 1 1,893 3,025 2,367 3,072 3,881 3,480 3,158 3,870 3,797 3,101 2,488 2,851 3,297 3,248
Net margin 1.11% 1.95% 1.76% 2.01% 2.34% 2.01% 1.88% 2.03% 1.75% 1.42% 1.17% 1.25% 1.31% 1.35%
EPS 2.435 3.880 3.035 3.930 4.960 4.450 4.040 4.950 4.860 3.970 - 3.650 4.100 4.000
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 2/8/21 5/27/21 8/12/21 11/9/21 2/8/22 5/21/22 8/3/22 11/2/22 2/1/23 5/16/23 8/1/23 - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 884 1,604 - - - 25,996 30,066 28,724
Net Cash position 1 - - 30,759 28,285 - - - -
Leverage (Debt/EBITDA) 0.0656 x 0.1575 x - - - 1.334 x 1.289 x 1.073 x
Free Cash Flow 1 9,864 8,819 34,489 8,634 -33,956 -1,007 4,146 10,403
ROE (net income / shareholders' equity) 15.1% 12.6% 16.4% 23.9% 21.9% 16.9% 17.9% 18.9%
ROA (Net income/ Total Assets) - - 5.18% 7.76% 6.68% - - -
Assets 1 - - 146,066 164,888 208,495 - - -
Book Value Per Share 2 50.20 55.40 63.40 74.00 88.60 92.80 104.0 118.0
Cash Flow per Share 2 - - 44.80 12.70 -41.40 16.80 18.90 21.20
Capex 1 820 838 480 1,258 1,621 1,663 2,093 1,923
Capex / Sales 0.18% 0.16% 0.08% 0.2% 0.2% 0.18% 0.21% 0.17%
Announcement Date 5/22/19 6/11/20 5/27/21 5/21/22 5/16/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Redington Limited

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
222.6 INR
Average target price
208.6 INR
Spread / Average Target
-6.29%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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