Redington Limited — Investor Meet, 26-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Redington posted Q4 revenue of Rs. 26,510 Cr (+18% YoY) and profit at Rs. 400 Cr (+23% YoY). FY25 revenue is near Rs. 99,562 Cr (+11%) with PAT of Rs. 1,340 Cr (+10%). Growth was broad-based: India +26%, UAE +24%, Saudi +7%, Africa +11%. Cloud Solutions led with 41% growth; software now contributes 15% of revenue, growing 20%+, with potential to reach 30-40%. Operating margins held at 2.3-2.5%, affected by a shift to lower-margin technology deals. Working capital was 34 days; interest/factoring costs dropped significantly. Management is focused on AI, cloud, digital transformation, premium mobility brands, and sees strong growth in Saudi driven by AI and data centers. Circular economy and integrated logistics (ProConnect) are emerging areas. The outlook is confident with caution around tariffs and geopolitical risks.