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Redington India Limited is an integrated supply chain solution provider and technology distributor. Founded in 1961, it is the second largest distributor of IT products in India, working with over 220 manufacturers and servicing more than 39,500 channel partners. The company distributes IT, mobility, and other technology products, and provides logistics and supply chain management services across India, Middle East, Turkey, Africa, and South Asian countries. Redington has expanded its operations to include non-IT products and manages an inventory of over 45,000 SKUs. In recent years, the company has focused on transitioning to a solution-oriented distributor, developing capabilities in cloud, cybersecurity, IoT, AI, and machine learning. Redington has launched digital platforms like Redington Online and CloudQuarks to facilitate product sourcing and cloud services for customers and partners.
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Redington Q3 profit up 3% to ₹413.4 cr, revenue rises 16%
Company insights, generated from the most recent coverage.
Stock rose 3.03% while Sensex fell ~750 points, indicating strong stock-specific buying defying broader geopolitical selloff.
Institutional accumulation driven by Singapore roadshow and 'Intelligent Orchestration' narrative, signaling a re-rating from distributor to tech services player.
Signed 5-year AI partnership with Resulticks targeting $150M market opportunity in Middle East, India & Asia — pivoting from software distribution to intelligent orchestration.
The Quarter story
The two most recent quarterly results, compared side-by-side.
Redington drives strong revenue and profit growth across key segments, but cash flow faces pressure from working capital buildup and rising debt.
Consolidated revenue grows from ₹29,118 Cr in Q2 FY26 to ₹34,966 Cr in Q1 FY27, while EBITDA rises from ₹632 Cr to ₹751 Cr.
Free cash flow swings from ₹217 Cr in Q3 FY26 to -₹995 Cr in Q1 FY27, warning of liquidity strain.
Mobility Solutions Group revenue climbs from ₹10,306 Cr in Q2 FY26 to ₹12,308 Cr in Q1 FY27, reflecting strong device demand.
Debtor days rise from 39 days in Q1 FY26 to 59 days in Q1 FY27, indicating slower customer collections.
ROCE improves from 14.5% in Q1 FY26 to 22.2% in Q1 FY27, showing efficient capital deployment.
Net debt to equity climbs from 0.08x in Q3 FY26 to 0.39x in Q1 FY27, reflecting increased borrowing.
Creditor days extend from -47 days in Q1 FY26 to -58 days in Q1 FY27, giving the company more time to pay suppliers.
EBITDA margin settles at 9% in Q1 FY27 after peaking at 11% in Q4 FY26, showing pricing pressure.
SISA EBITDA rises from ₹340 Cr in Q1 FY26 to ₹509 Cr in Q1 FY27, highlighting resilient domestic operations.
Inventory days extend from 23 days in Q3 FY26 to 31 days in Q1 FY27, warning of potential overstocking.