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REDINGTON - Redington

📊 NSE: REDINGTON 🏢 Trading 📅 Last Updated: 12/14/2025 11:43

📢 Recent Corporate Announcements

Redington Clarifies Recent Trading Volume Spurt as Market Driven

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Mar 2026, 12:51 PM

Redington Limited has responded to a clarification request from the National Stock Exchange (NSE) regarding a significant increase in trading volume. The company stated that the volume movement is entirely market-driven and influenced by external market factors. They confirmed that all material information has been disclosed as per SEBI (LODR) Regulations, 2015. No specific internal developments or undisclosed information were cited as the cause for the increased trading activity.

NSE requested clarification on March 10, 2026, regarding a spurt in trading volume
Redington submitted its formal response on March 11, 2026
Company attributes volume movement to market factors rather than internal developments
Confirmed compliance with Regulation 30 of SEBI (LODR) Regulations, 2015

💡 Investors should treat this as a routine regulatory update and focus on fundamental performance rather than short-term volume spikes. Monitor for any subsequent news that might explain the increased market interest.

Redington Wins Tax Appeal: INR 230.21 Cr Demand Quashed by CIT(A)

🟢 POSITIVE ⭐ 7/10

LEGAL 📅 11 Mar 2026, 06:01 PM

Redington Limited has received a favourable order from the Commissioner of Income Tax (Appeals) regarding a tax dispute for AY 2020-21. The order quashes a demand of INR 230.21 crore out of a total demand of INR 233.66 crore previously raised by the Assessing Officer. The company had been contesting this demand since September 2023. This resolution significantly reduces potential financial liability and uncertainty for the company.

CIT (Appeals) quashed a tax demand of INR 230.21 crore for AY 2020-21.
The original demand raised by the Assessing Officer was INR 233.66 crore.
The company had previously disclosed and contested this demand in September 2023.
The order removes a significant contingent liability from the company's financial outlook.

💡 This is a positive development that removes a major financial uncertainty. Investors should view this as a strengthening of the company's balance sheet.

Redington Clarifies Recent Spurt in Trading Volume to Stock Exchanges

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Mar 2026, 02:00 PM

Redington Limited has issued a clarification to the National Stock Exchange regarding a recent increase in trading volume of its shares. The company stated that the volume movement is purely market-driven and caused by external market factors rather than internal developments. They confirmed that all material information has been disclosed in compliance with SEBI Regulation 30. This response indicates that there is no undisclosed price-sensitive information currently affecting the stock's activity.

Response to NSE query dated March 10, 2026, regarding unusual trading volume
Company attributes volume movement to market-driven factors and external conditions
Confirmation of full compliance with SEBI Listing Obligations and Disclosure Requirements
No new material events or information reported in the clarification

💡 This is a routine regulatory filing with no impact on company fundamentals. Investors should continue to monitor the stock based on its financial performance rather than short-term volume fluctuations.

Redington Subsidiary Re-domiciles from Mauritius to Dubai International Financial Centre

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 24 Feb 2026, 04:15 PM

Redington Limited has announced the successful re-domiciliation of its wholly owned subsidiary, Redington International Mauritius Limited, from Mauritius to Dubai, UAE. The subsidiary is now registered in the Dubai International Financial Centre (DIFC) and received its Certificate of Continuation on February 23, 2026. This move is intended to optimize business objectives and align the subsidiary with the group's future strategic plans. The transition allows the entity to operate under the regulatory framework of the UAE, which is a core market for Redington's international distribution operations.

Wholly owned subsidiary Redington International Mauritius Limited has moved its domicile to Dubai, UAE.
The entity is now officially registered within the Dubai International Financial Centre (DIFC).
The Certificate of Continuation from DIFC was formally received on February 23, 2026.
The move aims to optimize business objectives and align with the group's long-term corporate strategy.

💡 This is a structural corporate change likely aimed at operational efficiency; investors should monitor future quarterly reports for any mentions of tax or administrative cost savings resulting from this move.

Redington Receives Favourable Order Quashing INR 136.25 Cr Income Tax Demand

🟢 POSITIVE ⭐ 7/10

LEGAL 📅 20 Feb 2026, 10:48 PM

Redington Limited has received a favourable order from the Commissioner of Income Tax (Appeals) regarding a tax dispute for Assessment Year 2021-22. The order quashes a significant tax demand of INR 136.25 Crores that was previously raised by the Assessing Officer. The company had been contesting this demand since it was first reported in December 2023. This resolution effectively removes a major potential financial liability from the company's balance sheet.

Commissioner of Income Tax (Appeals) quashed a tax demand of INR 136.25 Crores
The tax dispute related to the Assessment Year 2021-22
The original demand was previously disclosed to exchanges on December 29, 2023
The favourable order was received by the company on February 20, 2026
Management confirms nil negative financial impact following this appellate order

💡 Investors should view this as a positive development as it eliminates a significant contingent liability. No specific action is required as the outcome settles a previously disclosed regulatory risk.

Redington Reports Record Q3 FY26 Revenue of ₹30,959 Cr, Up 16% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 04:02 PM

Redington Limited achieved its best-ever quarterly performance in Q3 FY26, with revenue growing 16% YoY to ₹30,959 crores and PAT rising 9% to ₹436 crores. Growth was robust across geographies, led by India at 25% and GCCL at 29%. The high-margin Software Solutions Group (SSG) was a standout performer, growing 40% YoY and now contributing 18% to the total revenue mix. Additionally, the company significantly improved operational efficiency by reducing working capital days to 28 days.

Record quarterly revenue of ₹30,959 crores and PAT of ₹436 crores, up 16% and 9% YoY respectively.
Software Solutions Group (SSG) grew 40% YoY, driven by Cloud, Cybersecurity, and Software segments.
India business revenue grew 25% YoY, with AI-focused PCs making up 28% of the commercial PC segment.
Working capital cycle improved to 28 days, reflecting efficient cash management despite growth investments.
Arena subsidiary (Turkey) reported a loss of ₹22 crores, but management sees a recovery trajectory by 2027.

💡 Investors should focus on the company's successful pivot toward high-margin software and cloud services, which are growing faster than traditional hardware. The significant reduction in working capital days and strong India growth provide a solid cushion against macro challenges in the Turkey market.

Redington's Turkish Subsidiary Arena Completes Internal Restructuring and Merger

🟡 NEUTRAL ⭐ 3/10

OTHER 📅 09 Feb 2026, 08:07 PM

Redington's stepdown subsidiary in Turkey, Arena Bilgisayar Sanayi Ve Ticaret A.S, has completed an internal restructuring of its own subsidiaries. The process involved transferring 100% ownership of Arena Connect to Arena Mobile, followed by the merger of Arena Mobile into Arena Connect. This move is designed to achieve entity rationalization and improve operational efficiency within the Turkish operations. Since Arena Connect remains a 100% subsidiary of Arena, there is no change in the ultimate shareholding or control for Redington Limited.

Arena Connect ownership transferred to Arena Mobile within the Turkish stepdown group
Arena Mobile merged into Arena Connect, effective February 9, 2026
Arena Connect remains a 100% subsidiary of Arena Bilgisayar Sanayi Ve Ticaret A.S.
Restructuring aimed at achieving entity rationalization and operational efficiency
No change in the ultimate beneficial ownership for Redington Limited

💡 No immediate action is required as this is a routine administrative restructuring of a stepdown subsidiary. Investors should continue to monitor the overall performance of Redington's international business segments.

Redington Limited Submits Newspaper Advertisements for Q3 & 9M FY26 Financial Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Feb 2026, 05:04 PM

Redington Limited has informed the stock exchanges regarding the newspaper publication of its financial results for the quarter and nine months ended December 31, 2025. The advertisements were published in Business Standard (English) and Makkal Kural (Tamil) on February 5, 2026. This is a mandatory regulatory filing under Regulation 47 of SEBI (LODR) Regulations, 2015. The filing serves as a confirmation that the financial performance data has been disseminated to the public via print media.

Compliance with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Financial results pertain to the period ended December 31, 2025 (Q3 & 9M FY26)
Advertisements published in Business Standard and Makkal Kural on February 5, 2026
Information is hosted on the company's official website at redingtongroup.com

💡 This is a routine compliance notification. Investors should refer to the company's primary financial result filing for detailed performance metrics and growth analysis.

Redington Limited Releases Q3 & 9M FY 2026 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 05 Feb 2026, 05:01 PM

Redington Limited has informed the exchanges that the audio recording for its Q3 and 9M FY 2026 earnings conference call is now available for public access. The call was conducted on February 5, 2026, to discuss the unaudited financial results for the period ended December 31, 2025. This is a routine regulatory disclosure following the earnings announcement. Investors can access the recording via the company's official website to understand management's commentary on business performance.

Audio recording of the Q3 & 9M FY 2026 earnings call is now available via a public link.
The conference call took place on February 5, 2026, following the results announcement.
The recording covers financial performance for the nine-month period ending December 31, 2025.
The disclosure is in compliance with SEBI Listing Obligations and Disclosure Requirements.

💡 Investors who missed the live session should listen to the recording to gain insights into management's outlook on the IT distribution and mobility markets. No immediate trading action is required based on this procedural update.

Redington Q3 FY26: Revenue Grows 16% to ₹30,959 Cr, Net Profit Up 9% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 05:58 PM

Redington Limited reported a robust Q3 FY26 with global revenue reaching ₹30,959 crore, marking a 16% year-on-year growth. Net profit rose 9% YoY to ₹436 crore, supported by a strong 25% revenue surge in the India market. The company is successfully transitioning toward a solutions-led model, evidenced by a 40% growth in its Software Solutions Group. Despite a 7% decline in the Technology Solutions Group due to deal timing, overall margins remained stable with a PAT margin of 1.41%.

Global revenue increased 16% YoY to ₹30,959 crore, driven by strong demand in India and UAE.
Net profit grew 9% YoY to ₹436 crore with a PAT margin of 1.41%.
Software Solutions Group (SSG) delivered 40% YoY growth, fueled by cloud and cybersecurity adoption.
India business outperformed with 25% YoY growth, while UAE and Africa grew 19% and 14% respectively.
End-point Solutions Group (ESG) grew 21% YoY, supported by AI-enabled enterprise PC demand.

💡 Investors should note the successful shift toward high-growth software and cloud segments which command better long-term prospects. The strong double-digit growth in the domestic India market remains a significant positive catalyst for the stock.

Redington Q3 FY26: Highest Ever Quarterly Revenue and PAT, Revenue Up 16% YoY to ₹30,959 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 05:52 PM

Redington Limited achieved its highest-ever quarterly revenue and PAT in Q3 FY26, with global revenue growing 16% YoY to ₹30,959 crore. While overall EBITDA growth was modest at 2%, the company saw robust performance in its Software Solutions Group (SSG), which grew 40% YoY. Operational efficiency improved significantly as working capital days reduced by 5 days YoY to 28 days. The company maintains a strong balance sheet with a low net debt-to-equity ratio of 0.08x and a healthy ROCE of 22.1%.

Achieved record quarterly revenue of ₹30,959 Cr (+16% YoY) and PAT of ₹436 Cr (+9% YoY).
Software Solutions Group (SSG) led segment growth with a 40% YoY increase, driven by Cloud and Enterprise Security.
Working capital cycle improved to 28 days from 33 days in the previous year, enhancing liquidity.
SISA region (India focus) demonstrated strong momentum with 24% YoY revenue growth to ₹16,600 Cr.
9M FY26 Free Cash Flow turned positive at ₹800 Cr, a significant recovery from negative ₹221 Cr in 9M FY25.

💡 Investors should focus on the company's successful pivot toward high-growth software and cloud services and its significantly improved cash flow profile. The reduction in working capital days and low leverage suggest strong operational management despite competitive pressures.

Redington Q3 FY26 Results: Consolidated Revenue Up 16% YoY to ₹30,922 Cr, PAT Up 9%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 05:43 PM

Redington Limited reported a steady performance for Q3 FY26, with consolidated revenue growing 15.7% YoY to ₹30,921.73 crore. Net profit attributable to shareholders rose by 8.9% YoY to ₹435.80 crore, driven by robust growth in the SISA (Singapore, India & South Asia) segment. While standalone profit appeared lower due to reduced dividend income from subsidiaries this quarter, the consolidated performance remains healthy with improved interest coverage ratios. The company continues to demonstrate scale in its distribution business across both domestic and international markets.

Consolidated Revenue from operations grew 15.7% YoY to ₹30,921.73 crore from ₹26,716.08 crore.
Consolidated PAT attributable to shareholders increased 8.9% YoY to ₹435.80 crore.
SISA segment revenue surged 24.2% YoY to ₹16,594.02 crore, showing strong regional momentum.
Consolidated Finance costs decreased to ₹78.58 crore from ₹83.98 crore in the same quarter last year.
Consolidated EPS for the quarter improved to ₹5.57 compared to ₹5.12 in Q3 FY25.

💡 Investors should take confidence in the strong double-digit revenue growth in the SISA region, which is a key margin driver. The stock remains a preferred pick for exposure to the IT hardware and cloud distribution cycle in India and emerging markets.

Redington to Host Q3 & 9M FY26 Earnings Conference Call on February 5, 2026

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 30 Jan 2026, 04:30 PM

Redington Limited has scheduled its earnings conference call to discuss the financial results for the third quarter and nine months ended December 31, 2025. The call is slated for February 5, 2026, at 9:00 AM IST and will feature top management including the MD & Group CEO and Finance Director. This meeting follows the company's disclosure of unaudited financial results for the period. Investors and analysts can participate via provided local and international dial-in numbers or pre-registration.

Earnings call for Q3 and 9M FY26 scheduled for February 5, 2026, at 09:00 AM IST
Management participants include MD & Group CEO V S Hariharan and Finance Director S. V. Krishnan
Discussion will focus on unaudited financial results for the period ending December 31, 2025
International dial-in access provided for major hubs including Singapore, Hong Kong, UK, and USA

💡 Investors should attend or review the transcript of the call to understand management's guidance on IT and mobility demand. Key metrics to watch include margin performance and inventory management updates.

Redington Submits Quarterly SEBI Compliance Certificate for Dematerialization

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 19 Jan 2026, 05:44 PM

Redington Limited has filed its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025. The certificate, issued by Registrar Cameo Corporate Services Limited, confirms that all share dematerialization requests were processed within the mandated timelines. It also verifies that physical share certificates were mutilated and cancelled after the substitution of the depository's name in the register of members. This is a standard administrative filing ensuring the company's adherence to regulatory shareholding procedures.

Compliance certificate issued for the quarter ended December 31, 2025.
Registrar Cameo Corporate Services Limited confirmed all demat requests were accepted or rejected as per norms.
Securities involved in dematerialization are confirmed to be listed on the stock exchanges.
Physical certificates were mutilated and cancelled following due verification by depository participants.

💡 This is a routine regulatory filing with no impact on business fundamentals. No specific action is required from investors.

Redington Receives GST Demand Order Of INR 148.33 Crore For Multiple Financial Years

🔵 WATCH ⭐ 6/10

REGULATORY 📅 31 Dec 2025, 03:47 PM

Redington Limited has received an order from the Additional Commissioner, CGST Gurugram, for a total demand of INR 148.33 crore, which includes interest and penalties. The order pertains to the financial years 2018-19, 2019-20, and 2021-22. The demand arises from the disallowance of input tax credit (ITC) claims under Section 74 of the GST Act. The company has stated that based on legal advice, it does not expect this order to have a material financial impact on its operations.

Total GST demand of INR 148.33 crore including interest and penalty
Order covers three financial years: 2018-19, 2019-20, and 2021-22
Issued by the Additional Commissioner, CGST Gurugram Commissionerate
Primary cause is the disallowance of input tax credit (ITC) claims
Company expects no material financial impact based on internal assessment and legal advice

💡 Investors should monitor for updates regarding the company's appeal process and any potential provisions made in future quarterly results. While the company claims no material impact, the demand amount is significant and represents a contingent liability.

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💰 Financial Performance

Revenue Growth by Segment

In Q2 FY26, SISA (Singapore, India & South Asia) revenue grew by 22% YoY. Global revenue (excluding Arena) grew by 20% YoY, while Global revenue (including Arena) grew by 17% YoY. In Q1 FY26, the company reported revenue of INR 25,952.0 Cr, a 22% YoY growth driven by improved performance in MSG (Mobility Solutions Group) and CSG (Consumer Solutions Group).

Geographic Revenue Split

Redington's revenue is split between SISA (54% of consolidated revenue) and META (Middle East, Turkey, and Africa), which contributes 46% of consolidated revenue. Within META, the UAE grew by 21.29% in FY25, while the Saudi market saw a correction due to pauses in Mega and Giga projects.

Profitability Margins

Operating margins were 2.5% in FY25, down from 2.6% in FY24 due to competitive pricing and large deals. In Q2 FY26, PAT growth (32% YoY including Arena) outpaced revenue growth (17% YoY). ROE stood at 20.8% in Q2 FY26 compared to 21.4% in Q2 FY25, reflecting a slight moderation despite higher absolute profits.

EBITDA Margin

In Q2 FY26, EBITDA for Global operations (excluding Arena) grew by 33% YoY, while Global operations (including Arena) saw 23% EBITDA growth. SISA EBITDA grew by 19% YoY. Operating margins are expected to sustain at 2.3-2.4% over the medium term as the company shifts toward high-margin IT enterprise and cloud services.

Capital Expenditure

Redington maintains a strategy of minimal capital spending and moderate capex plans. The company focuses on reinvesting profits into working capital to support 10-12% market growth, with a specific focus on a 20% ROCE target for new investments.

Credit Rating & Borrowing

CRISIL maintains a 'Stable' outlook. Interest coverage ratio improved to ~4.0 times in 9M FY25 from 3.2 times in 9M FY24. The company has a healthy financial risk profile with adjusted gearing at ~0.4 times and a total outside liabilities to tangible net worth (TOL/TNW) ratio of 2.0 times as of March 2025.

⚙️ Operational Drivers

Raw Materials

Not applicable as Redington is a distributor; however, its 'input' costs are primarily the procurement of IT hardware (servers, storage, networking) and mobility products (smartphones) from global vendors.

Import Sources

Products are sourced globally from IT and Mobility vendors, with significant operations and sourcing hubs in Singapore, India, UAE, and Turkey.

Key Suppliers

Global IT vendors including Apple (previously via RIIL), and various brands in the TSG (Technology Solutions Group) and MSG (Mobility Solutions Group) segments.

Capacity Expansion

Not a manufacturing entity; however, the company is expanding its digital capabilities and implementing SAP across all business locations to enhance its Management Information System (MIS).

Raw Material Costs

Cost of goods sold is the primary expense. The company maintains average receivables and inventory provisions at less than 0.1% of revenue (FY24), indicating high procurement and inventory efficiency.

Manufacturing Efficiency

Efficiency is measured by working capital cycles. In Q2 FY26, inventory days were 23 (down from 26 YoY), while debtor days were 60 (up from 58 YoY).

Logistics & Distribution

Logistics are a core competency, enabling the company to handle 'Make in India' brands and large-scale data center deployments in India and META regions.

📈 Strategic Growth

Expected Growth Rate

10-12%

Growth Strategy

Growth will be driven by the SSG (Services & Solutions Group) and Cloud business, which saw triple-digit growth in META. The company is crafting 3-year plans for multi-year investments in SSG. Additionally, Redington is participating in 'Make in India' brand expansions and large data center deals in India, prioritizing incremental revenue and ROCE over margin percentages.

Products & Services

IT hardware (servers, storage, networking), software, cloud services, smartphones, and tablets.

Brand Portfolio

Arena (Turkey), and distribution rights for major global IT and mobility brands.

New Products/Services

Expansion into Cloud services and SSG (Services & Solutions Group) which are expected to be primary profitability contributors in the future.

Market Expansion

Focus on the UAE (21.29% growth) and Africa, driven by enterprise wins and mobility performance.

Market Share & Ranking

Maintains a leading position in SISA and META markets; revenue grew at a 14.1% CAGR over 5 years ending FY25.

Strategic Alliances

Partnerships with global IT vendors and cloud providers; divestiture of Paynet business in Turkey resulted in a USD 74 million profit.

🌍 External Factors

Industry Trends

The industry is shifting from pure hardware distribution to cloud and software services (SSG). Redington is positioning itself by investing in these high-margin areas to offset the low margins of traditional hardware distribution.

Competitive Landscape

Competes with global distributors; management notes that Redington's return ratios (ROCE 17.2%) and profit percentages are superior to many global peers.

Competitive Moat

Moat is built on established relationships with global IT vendors, a robust Management Information System (SAP), and a strong financial profile with INR 1,372 Cr in cash as of March 2025.

Macro Economic Sensitivity

Sensitive to interest rate movements and macro-economic trends in India and META regions. High interest rates increase the cost of funding working capital-intensive operations.

Consumer Behavior

Shift toward enterprise demand and data center requirements in India is driving a change in the product mix toward TSG and SSG segments.

Geopolitical Risks

Regulatory, fiscal, and currency pressures in the META region, specifically Turkey, pose ongoing risks to stability.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with the Companies Act 2013 and Ind AS. The company has a documented Internal Financial Control (IFC) framework with no reportable material weaknesses.

Environmental Compliance

Direct exposure to environmental risks is not material given the distribution nature of the business.

Taxation Policy Impact

Subject to standard corporate tax rates in India and international jurisdictions (Mauritius, Singapore, UAE, Turkey).

Legal Contingencies

Not disclosed in the provided documents; however, the company evaluates restructuring options for RIIL (associate company) including winding up.

⚠️ Risk Analysis

Key Uncertainties

Potential for lower profit percentages on large deals (TSG) and the impact of the '10 to 11' refresh cycle which has not yet shown a significant impact.