| Revenue growth | Record ₹33,269cr Q4 revenue, 25% YoY growth. |
|---|---|
| Margins | PAT margins at 1.4%; Turkish impairment and Opex premiums hurt margins. |
| Order book | Large deals pipeline at ₹2,500cr for full year. |
| Demand visibility | Strong India PC/Mobility demand; Middle East demand hit by conflict. |
| Management confidence | Cautiously optimistic; India strong, Middle East visibility remains low. |
Growth
Revenue grew 25% YoY; India business up 50%, while Middle East faced a 12% Q4 de-growth.
Outlook
Management guides continued India momentum and cloud expansion, but warns of Q1/Q2 softness in Middle East.
Risks
Geopolitical conflict in West Asia, supply chain disruptions, and high interest rates (40%+) in Turkey.
Last quarter's promises, checked
Delivered
- Guided SSG 40% growth → delivered 31% in Q4 (= BEAT)
- Targeted ROCE 18-20% → delivered 22.1% in Q3 (= BEAT)
- Guided India strong momentum → delivered 50% Q4 growth (= BEAT)
Partly delivered
- Guided Opex control at 9% → delivered Opex growth slower than revenue but hit by freight spikes (= PARTIAL)
Missed
- Guided Arena loss reduction → delivered ₹75.2cr Turkish impairment (= MISS)
- Targeted Middle East growth → delivered 12% de-growth (= MISS)
- Guided TSG segment recovery → delivered margin pressure and recognition delays (= MISS)
Earnings Call filed with NSE, NSE: REDINGTON. Summary written with AI assistance from the document.
Redington Ltd: key numbers
- Share price
- ₹407.25
- Market cap
- ₹31,838 Cr
- Revenue (annual)
- ₹1,19,162 Cr
- Net profit (annual)
- ₹1,490 Cr
- P/E (TTM)
- 18.7×Sector 41.4×
- Promoter holding
- 0.00%+0.00% QoQ
- FII holding
- 61.96%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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