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Swing Capital

Redington Ltd

NSE: REDINGTON BSE: 532805

Established in the year 1993, Redington Limited is a leading distributor of IT and mobility products and a provider of supply chain management solutions and support services in India, the Middle East, Turkey and Africa.[1]

₹220
52W: ₹191 — ₹335
PE 13.8 · Book ₹67.8 · +224% vs book
Market Cap₹17,199 Cr
Stock P/E13.8Price to Earnings
ROCE26.4%Return on Capital
ROE25.2%Return on Equity
Div. Yield3.14%Face Value ₹2

Strengths

  • +Company is expected to give good quarter
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 30.0%
  • +Company has been maintaining a healthy dividend payout of 39.8%

Shareholding Pattern

Promoters0%
FIIs61.49%
DIIs17.12%
Public21.33%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters0%0%0%0%0%0%0%0%
FIIs57.87%58.07%▲0.258.53%▲0.560.57%▲2.062.58%▲2.061.81%▼0.861.94%▲0.161.49%▼0.4
DIIs18.14%18.08%▼0.118.64%▲0.617.87%▼0.816.65%▼1.216.97%▲0.317.28%▲0.317.12%▼0.2
Public23.99%23.84%▼0.122.82%▼1.021.5%▼1.320.71%▼0.821.17%▲0.520.73%▼0.421.33%▲0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales11,10410,49010,30212,38513,09513,12112,75715,18516,27119,587
Expenses10,85410,23710,05012,10812,79612,81612,46514,85415,95119,188
Operating Profit250254252277298305292331320400
OPM %2%2%2%2%2%2%2%2%2%2%
Net Profit154161156618461209200532223289
EPS ₹1.962.051.997.915.892.682.566.82.863.69

AI Insights

Revenue Trend

Mar 2026 revenue at ₹63,801Cr, up 30.5% YoY. OPM at 2%.

Debt Position

Borrowings at ₹1,493Cr. Debt-to-equity ratio: 0.29x. Healthy balance sheet.

Capex Cycle

CWIP at ₹3Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 17.12% (-0.28pp change). FIIs: 61.49% (+2.27pp change). Promoters hold 0%.

Margin & Efficiency

ROCE improving from 20% (Mar 2015) to 26% (Mar 2026). Working capital days: 23.

Valuation

PE 13.8x with 26.4% ROCE. Price is 224% above book value of ₹67.8. Dividend yield: 3.14%.

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