Stock Verdict Redington India 2022-01-24

Report as on 24 January 2022 at 08:48 PM
LOW DEBT
Healthy Growth in Redington
Long Term Net Sales
India
5 Consecutive
Positive Results Strong buy
Bullish CMP: 152.40

Technical Trend
STOCK INFO:
Very Attractive
BSE – 532805/ NSE – REDINGTON
Market Cap - Mid Cap (Rs. 11,908 cr)
Sector – IT - Hardware
Valuation 52 w H/L (Rs.) – 179.3/66.3
Dividend Yield: 3.63%
Debt Equity: -0.58%
Return on Equity: 21.04%
Price to Book: 2.53
www.marketsmojo.com
Redington India
CMP: 152.40 Strong Buy 81
Report as on 24 January 2022 at 08:48 PM
Strong Sell Sell Hold Buy Strong Buy
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WHY IT’S A STRONG BUY? IS THIS STOCK FOR YOU?

High Risk, High Return (1 Year)
Strong ability to service debt as the company has
a low Debt to EBITDA ratio of 0.57 times Absolute Risk Volatility
Adjusted
Healthy long term growth as Net Sales has Redington India 121.27% 2.17 55.82%
grown by an annual rate of 9.53% and Operating SENSEX 17.62% 1.12 15.80%
profit at 14.67%
How much should you buy? -
The company has declared Positive results for Overall Portfolio exposure to Redington India should be
the last 5 consecutive quarters less than 10%
-PBDIT(Q) Highest at Rs 431.61 cr. Overall Portfolio exposure to IT - Hardware should be
-OPERATING PROFIT TO NET SALES(Q) Highest at less than 30%
2.82% (If sector exposure > 30%, please use optimiser tool to
-PBT LESS OI(Q) Highest at Rs 364.87 cr. see which are the best stocks to hold in IT - Hardware)
When to exit? - We will constantly monitor the company
Stock is technically in a Bullish range and suggest at the appropriate time to exit from the
-The technical trend has improved from Mildly stock
Bullish on 07-Jan-22 and has generated -6.65%
returns since then RETURNS SUMMARY (Price + Dividend)
-Multiple factors for the stock are Bullish like MACD, The stock gave a total returns of 132.67% in the last 1 year
Bollinger Band, KST, DOW and OBV Outperforming Sensex returns of 17.62%
500%
With ROE of 21, it has a Very Attractive valuation
with a 2.4 Price to Book Value 250%
-The stock is trading at a premium compared to its
average historical valuations 0%
-Over the past year, while the stock has generated a

-250%
return of 121.27%, its profits have risen by 91.6% ;
O 20
Ja 1 9
Ja 2 0
D -2 1
1
the PEG ratio of the company is 0.1
Se 9
Se 1
Au 20
Ap 20
Ju 2 0
N -2 0
M -1 9
Fe 2 0
M -2 1
M -1 9
Ju 9
M -2 1
N -1 9
Ju 1
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-2
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l- 2
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-At the current price, the company has a high

dividend yield of 3.8 Redington India Ltd MIDCAP
Investors Returns (3 years) –
Period 6M 1Y 2Y 3Y
Stock (%) -5.46% 132.67% 181.78% 355.74%
Sector (%) 18.65% 18.65% 210.60% 237.76%
Sensex (%) 8.52% 17.62% 38.16% 58.84%
MOJO PROFESSIONAL 1
Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM
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MOJO PROFESSIONAL 2
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MANAGEMENT RISK
AVERAGE LONG TERM FUNDAMENTAL

STRENGTH WITH AN AVERAGE RETURN ON
EQUITY (ROE) OF 14.99%
ROE
The company has been able to generate a Return on Equity
14.99% ROE
(avg) of 14.99% signifying average profitability per unit of
shareholders funds
Dividend Payout Ratio

Company's high Dividend Pay-out ratio of 32.47% signifying the
32.47%
Dividend Payout Ratio
profits of the company are real
Tax Ratio
High Tax Ratio signifies that the profits generated by the
26.30% Tax Ratio
company are real and it is making adequate contributions
towards by paying due taxes
Institutional Holding
High Institutional Holdings at 54.48%- These investors have
54.48%Institutional Holding
better capability and resources to analyse fundamentals of
companies than most retail investors
MOJO PROFESSIONAL 3
CAPITAL STRUCTURE
STRONG ABILITY TO SERVICE DEBT AS THE

COMPANY HAS A LOW DEBT TO EBITDA
RATIO OF 0.57 TIMES
Total Debt Debt to Equity Ratio
Low Debt to Equity Ratio Sep 2021 1,012.86 0.07
Company’s average Debt to Equity ratio over the past few years Sep 2020 1,338.45 0.19
is low at 0.07 times
Sep 2019 1,732.19 0.35
No clear trend in Debt to Equity Ratio numbers Sep 2018 - 0.45
Total Debt Debt to EBITDA Ratio

Low Debt to EBITDA Ratio Sep 2021 1,012.86 0.57
Company’s average Debt to EBITDA ratio over the past few Sep 2020 1,338.45 0.88
years is low at 1.75 times
Sep 2019 1,732.19 1.38
No clear trend in Debt to EBITDA Ratio numbers Sep 2018 - 1.75
Total Debt EBIT to Interest

Healthy EBIT to Interest Sep 2021 1,012.86 6
Company has healthy average EBIT to Interest ratio of 6.00 Sep 2020 1,338.45 4.37
times
Sep 2019 1,732.19 4.25
EBIT to Interest has seen a high growth of 50% over previous Sep 2018 - 4.23
period
MOJO PROFESSIONAL 4
GROWTH
HEALTHY LONG TERM GROWTH AS NET

SALES HAS GROWN BY AN ANNUAL RATE
OF 9.53% AND OPERATING PROFIT AT
14.67%
High Growth in Net Sales 75000Cr
of 9.5% CAGR
9.5%
61,226
51,912
Company has experienced an increase 49,226
CAGR in its Net Sales in each of the past 4
50000Cr
41,675 43,513
consecutive years
Company’s Net Sales growth has 25000Cr
increased in each of the past 4
consecutive years
Net Sales has seen a high growth of 0Cr
17.94% over previous period Sep 2017 Sep 2018 Sep 2019 Sep 2020 Sep 2021
High Growth in Operating 2000Cr
Profit of 14.7% CAGR

14.7% Operating Profit has seen a high
1500Cr
1,480
CAGR growth of 67.04% over previous

period 1000Cr 900 886
778 735
500Cr
0Cr
Sep 2017 Sep 2018 Sep 2019 Sep 2020 Sep 2021
Net Profit of 18.9% CAGR 1500Cr
18.9% Net Profit has seen a high growth of

91.7% over previous period
1,039
CAGR 1000Cr
621
542
481 455
500Cr
0Cr
Sep 2017 Sep 2018 Sep 2019 Sep 2020 Sep 2021
MOJO PROFESSIONAL 5
FINANCIAL TREND
Positive
THE COMPANY HAS DECLARED

results for
POSITIVE RESULTS FOR THE LAST 5 5

CONSECUTIVE QUARTERS consecutive
quarters
Near term Operating Profit trend

is positive
Rs 431.6 424.11 425.1 431.61
cr
344.28
Operating Profit (Rs Cr) 288.84
Highest at Rs 431.61 cr.
Operating Profit in the last five quarters
- Quarterly
Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
Company's efficiency has 2.5

2.74
2.56
2.82
2.8% improved 2.1
Operating Profit to Sales

Operating Profit Highest at 2.82%
Margin - in the last five quarters
Quarterly
Near term PBT trend is positive 355.59 358.39 364.87
20.2% PBT less Other Income (Rs Cr) 281.41
At Rs 364.87 cr has Grown at 20.2 % 219.02

PBT Growth over average PBT of the previous four quarters of Rs
303.60 Cr
MOJO PROFESSIONAL 6
FINANCIAL TREND
Near term PAT trend is positive

307.2
35.4%
302.51
PAT (Rs Cr)
At Rs 307.20 cr has Grown at 35.4 % 236.67
192.75
PAT Growth over average PAT of the previous four quarters of Rs 175.8
226.93 Cr
Sep'21 Jun'21 Change%

Net Sales 15,287.5 13,454.1 13.6%
Key Operating Profit (PBDIT) excl Other Income 431.6 344.3 25.4%
Result Interest 30.7 28.0 9.5%
Highlights Exceptional Items 0.0 0.0
Consolidated Net Profit 307.2 236.7 29.8%
Operating Profit Margin (Excl OI) 2.8 2.6 0.3%
Consolidate- figures in Rs
Cr
MOJO PROFESSIONAL 7
TECHNICALS
STOCK IS TECHNICALLY IN A BULLISH

RANGE
Bullish Daily Moving Averages indicating near term price strength
Current Price 50 Day Moving Average 200 Day Moving Average
152.40 151.83 138.89
Factors with upward momentum

Indicator Technical Trend
MACD Bullish (weekly)
MACD Bullish (monthly)
Bollinger Band Mildly Bullish (weekly)
Bollinger Band Bullish (monthly)
KST Bullish (weekly)
KST Bullish (monthly)
Consistent Returns over the last 3 years

3 Months 1 Year 3 Years
6.28% 314.41%
121.27%
24.02% 62.50%
Stock -4.58%
BSE 500 Stock BSE 500 Stock BSE 500
MOJO PROFESSIONAL 8
VALUATION
WITH ROE OF 21, IT HAS A VERY

ATTRACTIVE VALUATION WITH A 2.4 PRICE
TO BOOK VALUE
Expensive
Very Attractive Spel Semiconduct

Tejas Networks
Cerebra Integr.
valuation Valuation
as compared to its Fundamentals TVS Elec. Redington India
Attractive
Weak Fundamental Strong
Price to Book Value vs ROE
Expensive 24 4
Fundamental
Valuation
as compared to its 12 2
past valuations 0 0
7
0
17
18
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20
22
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If the company can maintain its last year’s dividend, it

High Dividend Yield: 3.8% would result in 3.8% gain over and above the stock’s price
Dividend Yield Dividend per share (TTM): 5.8 movement from current levels
Company Valuation Price to Book PE Ratio PEG Ratio Dividend

Ratio Yield
Key
Valuation Redington India Very Attractive 2.4 11.6 0.1 3.8%
Multiples Tejas Networks Risky 2.3 220.4 1.9 0%
vs Peers Cerebra Integr. Very Expensive 3.3 69 5 0%
Spel Semiconduct Risky 6.2 -43.5 0 0%
TVS Elec. Very Attractive 4.5 24 0.1 0%
MOJO PROFESSIONAL 9
SHAREHOLDING
INSTITUTIONAL INVESTORS COLLECTIVELY

HOLD 56.29 % OF THE COMPANY
These investors have better capability and resources 80%
to analyse fundamentals of companies than most

retail investors. 60% 57.43% 57.79% 57.15% 56.29%
54.03% 54.48%
Their stake has increased by 1.81% over the previous
quarter. 40%
20%
0%
Dec 20 Mar 21 Jun 21 Aug 21 Sep 21 Dec 21
Non Institution
43.71%
Shareholding Snapshot : Dec 21
Majority shareholders : Non Institution
Pledged Promoter Holdings : None
Mutual Funds : Held in 7.00 Schemes (11.31%)
FIIs Mutual Funds
40.05% 11.31% FIIs : Held by 306 FIIs (40.05%)
Insurance Highest Public shareholder : Synnex Mauritius Ltd (24.14%)
Companies
3.82% Individual Investors Holdings : 10.49%
FII
60%
holding has increased by 1.04% 42.00% 41.22% 40.05%

38.42% 39.01%
40%
Number of FIIs holding stake in the company has
increased to 306 from 273
20%
0%
Mar 2021 Jun 2021 Aug 2021 Sep 2021 Dec 2021
MOJO PROFESSIONAL 10
MOJOSTOCK
PART OF MOJO STOCKS

Mojo Stocks are the highest rated stocks across thee market.
1% Less than 1% of the companies qualify as a Mojo Stock
For a company to Qualify as Mojo Stock it has to score highly across Mojo Parameters of
QUALIFY
Quality: Long Term Fundamental Performance
Valuation: Attractiveness of Stock Price at the current fundamentals
Financial Trend: Near term fundamental strength
Technicals: Price and volume momentum
Mojo Analysis of Redington India
NEAR TERM DRIVERS: MILDLY POSITIVE

QUARTERLY FINANCIAL TREND TECHNICALS
PAT (HY) At Rs 543.87 cr has Grown Technical trend turned Bullish

at 105.56 % from Mildly Bullish on 07 Jan 2022
Positive PAT (9M) At Rs 846.38 cr has Grown
at Rs 163.25 Bullish
at 118.97 % Moving Averages (daily) turned
Bullish from Mildly Bullish on 07
PBDIT (Q) Highest at Rs 431.61 cr.
Jan 2022 at Rs 163.25
LONG TERM DRIVERS: POSITIVE

QUALITY VALUATION
Largest company in IT - Hardware At the current stock price and

sector financial performance the stock
Good has Very Attractive valuation Very
Attractive
RETURNS
CONSISTENT RETURNS OVER THE LAST 3

YEARS
Along with generating 500%
121.27% returns in the last
1 year, the stock has 250%
121.27% outperformed BSE 500 in

each of the last 3 annual 0%
UP periods -250%
O 20
Ja 1 9
Ja 2 0
D -2 1
Se 9
Se 1
1
Au 20
Ap 20
Ju 2 0
N -2 0
M -1 9
Fe 2 0
M -2 1
M -1 9
Ju 9
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Redington India Ltd BSE500
Inconsistent Performance against Mid Cap

companies
Redington India Ltd has not been a consistent
performer in the last 1 year
1st
Quartile
3rd
Quartile
3rd
Quartile
Stock has been in the 3rd quartile in 2021
and in 1st in 1Y period
1Y 2021 2020
10.46% 9.53% 12.37%
Company 1 Month 3 Month 1 Year 3 Years

Redington India 5.47% 6.28% 121.27% 314.41%
Return Tejas Networks -3.56% -10.39% 178.41% 115.66%
Comparison
Cerebra Integr. -1.52% 49.72% 75.57% 177.84%
with Peers
Closest peers by Spel Semiconduct 149.66% 293.48% 635.77% 989.05%
market cap TVS Elec. 18.08% 23.94% 61.85% 5.81%
RESULT
ANALYSIS 
QUARTERLY VARIANCE
QUARTER RESULTS VARIANCE ANALYSIS

Sep'21 Jun'21 QoQ Sep'20 YoY Comments
Total Operating income 15,287 13,454 13.6% 13,764 11.1% High Growth in previous quarter
and same quarter last year
Total Expenditure (Excl Depreciation) 14,856 13,110 13.3% 13,475 10.3% High Growth in previous quarter
Operating Profit (PBDIT) excl Other Income 432 344 25.4% 289 49.4% High Growth in previous quarter
Other Income 26 20 29.6% 22 16.6% High Growth in previous quarter
Operating Profit (PBDIT) 457 364 25.6% 311 47.1% High Growth in previous quarter
Interest 31 28 9.5% 35 -11.9%
Exceptional Items 0 0 0% 0 0%
Depreciation 36 35 3.5% 35 3% QoQ and YoY increase
Profit Before Tax 391 301 29.7% 241 62% High Growth in previous quarter
Tax 68 62 8.7% 59 14.8% High Growth in previous quarter
Provisions and contingencies 0 0 0% 0 0%
Net Profit 323 239 35.1% 182 77.2% High Growth in previous quarter
Share in Profit of Associates 0 0 0% 0 0%

Minority Interest 16 2 540.7% 7 144.5% High Growth in previous quarter
Other related items 0 0 0% 0 0%
Consolidated Net Profit 307 237 29.8% 176 74.7% High Growth in previous quarter
Consolidate results triggered in Rs Cr
Margins
Sep'21 Jun'21 Mar'21 Dec'20 Sep'20 Avg. (4 Comments
Qtrs)
OPM 2.8% 2.6% 2.7% 2.5% 2.1% 2.5% In line with average (4 Qtrs)
GPM 2.8% 2.5% 2.7% 2.4% 2.0% 2.4% In line with average (4 Qtrs)
NPM 2.1% 1.8% 2.0% 1.2% 1.3% 1.6% In line with average (4 Qtrs)
ANNUAL RESULT
NET SALES - YOY GROWTH IN YEAR ENDED

MAR 2021 IS 10.65% VS 10.59% IN MAR
2020
Consolidated Net Profit: YoY Growth in year ended Mar 2021 is 47.18% vs 1.46% in Mar
2020
Operating Profit (PBDIT) excl Other Income: YoY Growth in year ended Mar 2021 is
31.34% vs 13.81% in Mar 2020
Interest: YoY Growth in year ended Mar 2021 is -28.59% vs 7.30% in Mar 2020 10.65%
Operating Profit Margin (Excl OI): YoY Growth in year ended Mar 2021 has improved from NET SALES
Mar 2020
Mar'21 Mar'20 Change(%)

Net Sales 56,945.86 51,465.17 10.65%
Key Operating Profit (PBDIT) excl Other Income 1,343.38 1,022.81 31.34%
Annual Interest 156.44 219.06 -28.59%
Results Exceptional Items -6.34 -4.68 -35.47%
Consolidated Net Profit 758.28 515.21 47.18%

Operating Profit Margin (Excl OI) 2.36 1.99 0.37%
Figures in Rs Cr | Seasonal companies are compared with the same quarter last year
Net Sales-YoY Growth in year ended Mar 2021 is 10.65% vs Consolidated Net Profit-YoY Growth in year ended Mar 2021
10.59% in Mar 2020 is 47.18% vs 1.46% in Mar 2020
100000 1000
758.28
51,465.17 56,945.86 515.21

481.64 507.78
50000 41,114.65 41,602.58 46,536.15 500
464.22
0 0
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Operating Profit (PBDIT) excl Other Income-YoY Growth in Operating Profit Margin (Excl OI)-YoY Growth in year ended
year ended Mar 2021 is 31.34% vs 13.81% in Mar 2020 Mar 2021 has improved from Mar 2020
2000 4
1,343.38
2.36
1,022.81 2.01 1.96 1.93 1.99
824.83 816.45 898.68
1000 2
0 0
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Figures in Rs Crore
BALANCESHEET AND CASHFLOW
BALANCE SHEET AND CASH FLOW

ANALYSIS
-82.52% Borrowings
Mar'21
443.46
Mar'20
2,537.48
Change%
-82.52%
Increase
Other Long Term Liabilities 128.94 164.91 -21.81%
Fixed Assets 427.98 484.22 -11.61%
Investments 0.00 0.00
in Borrowings in quarter Current Assets 13,700.06 13,653.66 0.34%
ended Mar 2021 vs in
Figures in Rs Cr
Mar 2020
Other Long Term Liabilities: YoY Growth in year ended Mar 2021 is -21.81% vs 2,255.86% in Mar 2020
Fixed Assets: YoY Growth in year ended Mar 2021 is -11.61% vs 4.84% in Mar 2020
Investments: No Investments in the last few periods;
Current Assets: YoY Growth in year ended Mar 2021 is 0.34% vs 17.01% in Mar 2020
Cash From Operation - YoY Growth in year ended Mar

262.13% 2021 is 262.13% vs -9.62% in Mar 2020
Mar'21 Mar'20 Change%
GROWTH Cash Flow from Operating Activities 3,496.89 965.65 262.13%
Figures in Rs Cr
4000
3,496.89
2000
1,360.47
1,068.44 965.65
185.62
0
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
PEER COMPARISION
PEER COMPARISON
Redington India Tejas Networks Cerebra Integr. Spel TVS Elec.
Semiconduct
Size
Market Cap (Cr.) 12,026 4,510 980 417 371
Annual Sales (TTM) (Cr.) 61,226 626 129 10 267
Annual Net Profit (TTM) (Cr.) 1,039 20 14 -10 15
Growth Factors (TTM)
Net Sales Growth 1 year 17.9% 64.8% 8.4% -64.2% 24.8%
Operating Profit Growth 1 year 67% 79.3% 117.9% -696.4% 228.8%
Net Profit Growth 1 year 91.6% 116.7% 13.7% -866% 246.9%
Net Sales Growth 5 year 9.5% -8.8% -11.1% -19% -24.4%
Operating Profit Growth 5 year 14.7% -171.1% 28.5% 4.5% 42.8%
Net Profit Growth 5 year 18.9% -38.7% 13.7% 8% 74.4%
Capital Structure Factors
EBIT to Interest 12.3 -8.3 4 - 17.1
Debt to EBITDA 0.5 0.6 0.9 -5.5 0.8
Net Debt to Equity -0.6 -0.4 0.1 0.7 -0.2
Sales to Capital Employed 29.6 0.5 0.4 - 3.5

Management Quality Factors
ROCE (latest) 71.6% -2.7% 8.3% -11.5% 1.2%
ROE(latest) 21% 1% 4.7% - 18.9%
Tax Ratio 26.3% 100% 24.9% - 10.2%
Operating CF to Net Profit 460.2% 419.8% -544% - 3384%
Dividend Payout Ratio 32.5% - - - 717.3%
Valuation Factors
PE Ratio 11.6 220.4 69 -43.5 24
Price to Book 2.4 2.3 3.3 6.2 4.5
PEG Ratio 0.1 1.9 5 - 0.1
Dividend Yield 3.8% - - - -
EV to EBITDA 5.6 98.6 36.5 -52 15
EV to Capital Employed 4.4 3.2 3.1 4 5.5
Shareholding
Promoter Holdings - 37.3% 7.1% 59.2% 59.8%
Promoter Pledged Holdings - - - - -
Total Institutional Holding 56.3% 19.5% 17.7% 0% 0.2%
FII Holdings 40% 14.2% 0.3% - 0.2%
Returns
1 Month 6.5% -3.6% -1.5% 149.7% 16.2%
3 Months 7.3% -10.4% 49.7% 293.5% 22%
YTD 6.3% -5.7% 0.8% 96.3% 13.9%
1 Year 123.5% 178.4% 75.6% 635.8% 59.3%
3 Years 318.5% 115.7% 177.8% 989.1% 4.2%
COMPANY BACKGROUND
COMPANY BACKGROUND
About the Company

An integrated supply chain solution provider, Redington India Limited was
INDUSTRY : IT - incorporated on 2nd May 1961. Being the second largest distributor of IT products
Hardware in India, the company and through all its subsidiaries distributes products from
over 220 leading manufacturers, services over 39,800 channel partners in India. It
is engaged in distribution of Information Technology, mobility and other
11,908 cr (Mid Cap) technology products besides supply chain solutions and after sales services.
Part of NIFTY 500
Board of Directors
J Ramachandran Chairman & Independent Directo
Raj Shankar Managing Director
Tu Shu Chyuan Director
M Muthukumarasamy Company Secretary
V S Hariharan Independent Director
7 more board of directors
Company Coordinates
Company Details: Registrat Details:

S P L Guindy House, 95, Mount Road , Guindy , Chennai Tamil Cameo Corporate Services Ltd , Subramanian Buildings No 1 ,
Nadu : 600032 Club House Road, Chennai
Tel: 044 42243353 Fax: 044-28460129
Fax: 044 22253799
Email: investors@redington.co.in
Website: www.redingtonindia.com
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Stock Verdict Redington India 2022-01-24

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Stock Verdict Redington India 2022-01-24

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Report as on 24 January 2022 at 08:48 PM

Bullish CMP: 152.40

WHY IT’S A STRONG BUY? IS THIS STOCK FOR YOU?

-Over the past year, while the stock has generated a

-At the current price, the company has a high

Investors Returns (3 years) –

BEFORE PROCEEDING AHEAD

This Real-Time Stock Analysis Report was

Some factors/data, as well as the buy/sell/hold call

To access the LATEST version of this report.

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM

AVERAGE LONG TERM FUNDAMENTAL

Dividend Payout Ratio

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM

STRONG ABILITY TO SERVICE DEBT AS THE

Total Debt Debt to EBITDA Ratio

Total Debt EBIT to Interest

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM

HEALTHY LONG TERM GROWTH AS NET

High Growth in Net Sales 75000Cr

High Growth in Operating 2000Cr

Profit of 14.7% CAGR

CAGR growth of 67.04% over previous

Net Profit of 18.9% CAGR 1500Cr

18.9% Net Profit has seen a high growth of

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM

THE COMPANY HAS DECLARED

POSITIVE RESULTS FOR THE LAST 5 5

Near term Operating Profit trend

Company's efficiency has 2.5

2.8% improved 2.1

Operating Profit to Sales

Near term PBT trend is positive 355.59 358.39 364.87

20.2% PBT less Other Income (Rs Cr) 281.41

At Rs 364.87 cr has Grown at 20.2 % 219.02

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM

Near term PAT trend is positive

Sep'21 Jun'21 Change%

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM

STOCK IS TECHNICALLY IN A BULLISH

152.40 151.83 138.89

Factors with upward momentum

Consistent Returns over the last 3 years

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM

WITH ROE OF 21, IT HAS A VERY

Very Attractive Spel Semiconduct

as compared to its Fundamentals TVS Elec. Redington India

Price to Book Value vs ROE

If the company can maintain its last year’s dividend, it

Company Valuation Price to Book PE Ratio PEG Ratio Dividend

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM

INSTITUTIONAL INVESTORS COLLECTIVELY

to analyse fundamentals of companies than most

holding has increased by 1.04% 42.00% 41.22% 40.05%

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM

PART OF MOJO STOCKS

Mojo Analysis of Redington India

NEAR TERM DRIVERS: MILDLY POSITIVE

PAT (HY) At Rs 543.87 cr has Grown Technical trend turned Bullish

LONG TERM DRIVERS: POSITIVE

Largest company in IT - Hardware At the current stock price and

Redington India STRONG BUY | Report as on 24 January 2022 at 08:48 PM