Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo

Redington Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:56 am

Market Cap 16,080 Cr.
Current Price 206
High / Low 238/159
Stock P/E13.8
Book Value 97.3
Dividend Yield3.01 %
ROCE19.5 %
ROE16.8 %
Face Value 2.00
PEG Ratio0.74

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Ganesha Ecoverse Ltd 114 Cr. 46.2 71.9/42.820.9 4.290.00 %28.2 %39.4 % 10.0
Foundry Fuel Products Ltd 5.71 Cr. 7.12 14.6/5.10 1.350.00 %%% 10.0
Deccan Gold Mines Ltd 1,781 Cr. 116 179/88.5 14.30.00 %8.77 %34.8 % 1.00
Asi Industries Ltd 482 Cr. 53.5 65.9/20.217.9 35.90.65 %10.1 %7.47 % 1.00
Anmol India Ltd 152 Cr. 26.6 65.9/26.511.3 18.40.00 %14.9 %23.6 % 10.0
Industry Average36,392.80 Cr750.6140.6178.771.70%21.11%21.07%5.18

All Competitor Stocks of

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales15,50413,45415,28716,60117,30216,80319,05121,67421,84921,18722,22023,50522,433
Expenses15,07913,11014,85616,07516,81116,34118,51821,09321,30520,76821,73922,98821,974
Operating Profit425344432525491462532581543419481517459
OPM %3%3%3%3%3%3%3%3%2%2%2%2%2%
Other Income26202619232530404664764579
Interest3028312433375488928810685106
Depreciation36353634373637394342444352
Profit before tax385301391487444414471494455352408434381
Tax %21%21%17%18%20%21%17%21%28%27%24%20%15%
Net Profit303239323397356326392393328255312348324
EPS in Rs3.893.033.934.974.454.044.954.863.973.183.884.364.16

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales24,16527,94531,55935,44241,11541,60346,53651,46556,94662,64479,37789,346
Expenses23,51127,26130,84334,63740,26440,75745,57050,37355,55460,80577,17487,468
Operating Profit6536847178068518469661,0921,3921,8392,2031,877
OPM %3%2%2%2%2%2%2%2%2%3%3%2%
Other Income465164344139-8448988142264
Interest199212182202183197271289205163355385
Depreciation38384347555763155148141155181
Profit before tax4624855555906556316236921,1281,6221,8331,575
Tax %25%26%26%25%27%23%22%23%30%19%21%21%
Net Profit3473584104444774844845347881,3151,4391,239
EPS in Rs4.054.214.845.305.806.026.536.629.7416.3817.8215.59
Dividend Payout %5%11%20%20%37%20%18%32%60%40%40%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)3.17%14.53%8.29%7.43%1.47%0.00%10.33%47.57%66.88%9.43%-13.90%
Change in YoY Net Profit Growth (%)0.00%11.36%-6.23%-0.86%-5.96%-1.47%10.33%37.23%19.31%-57.45%-23.33%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:12%
5 Years:14%
3 Years:16%
TTM:6%
Compounded Profit Growth
10 Years:14%
5 Years:18%
3 Years:17%
TTM:-6%
Stock Price CAGR
10 Years:12%
5 Years:29%
3 Years:12%
1 Year:17%
Return on Equity
10 Years:17%
5 Years:19%
3 Years:20%
Last Year:17%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:47 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital808080808080787878156156156156
Reserves1,5611,9412,2942,8693,0683,4513,8284,2314,8615,6296,7717,3927,449
Borrowings2,1501,7861,8672,3491,5161,4581,3072,7756228313,3212,9581,724
Other Liabilities2,7333,5004,1355,2265,4865,8757,2067,5688,99911,79213,03013,88017,179
Total Liabilities6,5247,3088,37510,52510,15010,86312,41914,65114,55918,40723,27824,38726,509
Fixed Assets350259276498476470454714605700877861854
CWIP1523131402038111851261
Investments00005470003400
Other Assets6,1587,0268,08610,0139,66910,36911,92013,92513,95317,62222,35423,52025,654
Total Assets6,5247,3088,37510,52510,15010,86312,41914,65114,55918,40723,27824,38726,509

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +288241257-1421,3601861,0689663,497989-3,2341,079
Cash from Investing Activity +762961012-86-25-9454-610-16724337
Cash from Financing Activity +-160-523-225202-1,131-199-651443-2,241-4761,529-1,381
Net Cash Flow203144271144-383241,463646346-1,462-264

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow651.00683.00716.00804.00850.00845.00965.00-1.00-621.00-830.00-1.00-1.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days465151554553495044515557
Inventory Days313235413229322820273529
Days Payable333840464244494750635451
Cash Conversion Cycle444546503538323014153634
Working Capital Days444040463337323011143533
ROCE %18%18%17%16%16%16%18%15%20%28%25%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
FIIs39.01%40.05%39.40%38.74%37.94%60.78%60.50%59.22%56.26%56.99%58.09%57.87%
DIIs15.47%16.24%16.14%16.51%16.50%16.66%16.68%17.40%17.38%17.92%18.57%18.14%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.03%0.03%0.03%0.03%0.00%
Public45.52%43.71%44.46%44.75%45.56%22.56%22.82%23.36%26.34%25.05%23.29%23.99%
No. of Shareholders1,71,4912,04,0172,42,6152,55,9312,66,3662,54,1172,52,3362,41,8852,59,1722,38,8062,27,4232,18,658

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Mid-Cap Opportunities Fund - Regular Plan35,461,6061.09569.874,500,0002024-12-20688.04%
HDFC Hybrid Equity Fund - Regular Plan16,214,0861.23260.564,500,0002024-12-20260.31%
HDFC Small Cap Fund - Regular Plan13,916,3310.88223.644,500,0002024-12-20209.25%
Tata Small Cap Fund9,000,0002.28144.634,500,0002024-12-20100%
Tata Large & Mid Cap Fund - Regular Plan4,500,0001.2772.324,500,0002024-12-200%
Tata Large & Mid Cap Fund - Regular Plan4,500,0001.2772.324,500,0002024-12-200%
HDFC Large and Mid Cap Fund - Regular Plan3,903,0260.4762.724,500,0002024-12-20-13.27%
Tata Digital India Fund3,263,3430.6152.444,500,0002024-12-20-27.48%
Tata Hybrid Equity Fund - Regular Plan3,200,0001.4951.424,500,0002024-12-20-28.89%
HDFC Retirement Savings Fund - Equity - Regular Plan1,000,0000.416.074,500,0002024-12-20-77.78%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)15.5917.8216.4019.4413.24
Diluted EPS (Rs.)15.5917.8116.3919.4013.24
Cash EPS (Rs.)18.1620.4118.6324.0217.72
Book Value[Excl.RevalReserv]/Share (Rs.)100.5793.3278.16136.35120.54
Book Value[Incl.RevalReserv]/Share (Rs.)100.5793.3278.16136.35120.54
Revenue From Operations / Share (Rs.)1142.891015.63801.641463.151322.67
PBDIT / Share (Rs.)27.3928.9324.0536.9827.54
PBIT / Share (Rs.)25.0726.9422.2433.1723.54
PBT / Share (Rs.)20.1423.4620.7628.9917.79
Net Profit / Share (Rs.)15.8418.4216.8320.2113.72
NP After MI And SOA / Share (Rs.)15.5917.8216.3819.4313.24
PBDIT Margin (%)2.392.842.992.522.08
PBIT Margin (%)2.192.652.772.261.77
PBT Margin (%)1.762.302.581.981.34
Net Profit Margin (%)1.381.812.091.381.03
NP After MI And SOA Margin (%)1.361.752.041.321.00
Return on Networth / Equity (%)16.1420.1022.1215.3311.95
Return on Capital Employeed (%)23.9427.5226.6823.1718.37
Return On Assets (%)4.995.986.955.193.51
Long Term Debt / Equity (X)0.010.010.010.000.00
Total Debt / Equity (X)0.370.450.100.080.58
Asset Turnover Ratio (%)3.752.512.412.282.05
Current Ratio (X)1.431.421.461.531.41
Quick Ratio (X)1.020.961.091.201.03
Dividend Payout Ratio (NP) (%)46.1837.0335.390.0068.50
Dividend Payout Ratio (CP) (%)40.2033.3131.870.0052.63
Earning Retention Ratio (%)53.8262.9764.610.0031.50
Cash Earning Retention Ratio (%)59.8066.6968.130.0047.37
Interest Coverage Ratio (X)5.568.3216.269.204.89
Interest Coverage Ratio (Post Tax) (X)4.216.2912.386.073.46
Enterprise Value (Cr.)17775.5614567.088623.364740.943189.50
EV / Net Operating Revenue (X)0.190.180.130.080.06
EV / EBITDA (X)8.306.444.593.292.98
MarketCap / Net Operating Revenue (X)0.180.160.180.130.05
Retention Ratios (%)53.8162.9664.600.0031.49
Price / BV (X)2.161.881.961.500.61
Price / Net Operating Revenue (X)0.180.160.180.130.05
EarningsYield0.070.100.110.100.19

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 232.37

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 12.80% compared to the current share price 206.00

Intrinsic Value of as of December 22, 2024 is: 275.79

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 33.88% compared to the current share price 206.00

Last 5 Year EPS CAGR: 18.69%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 18.83%, which is a positive sign.
  2. The company has higher reserves (4,257.31 cr) compared to borrowings (1,897.23 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (48.50 cr) and profit (391.42 cr) over the years.
  1. The stock has a high average Working Capital Days of 32.92, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 34.92, which may not be favorable.
  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
    1. Net Profit Margin: 1.38%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 23.94% (Industry Average ROCE: 21.11%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 16.14% (Industry Average ROE: 21.07%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 4.21
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.02
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 13.8 (Industry average Stock P/E: 40.61)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.37
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Redington Ltd. is a Public Limited Listed company incorporated on 02/05/1961 and has its registered office in the State of Tamil Nadu, India. Company’s Corporate Identification Number(CIN) is L52599TN1961PLC028758 and registration number is 028758. Currently Company is involved in the business activities of Wholesale of machinery, equipment and supplies. Company’s Total Operating Revenue is Rs. 27018.94 Cr. and Equity Capital is Rs. 156.29 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Mining/MineralsBlock3, Plathin, Redington Tower, Inner Ring Road, Chennai (Madras) Tamil Nadu 600091investors@redingtongroup.com
http://www.redingtongroup.com
Management
NamePosition Held
Prof. J RamachandranChairman
Mr. S V KrishnanWhole Time Director
Mr. Tu Shu-ChyuanDirector
Ms. Anita P BelaniDirector
Mr. B RamaratnamDirector
Mr. Sudip NandyDirector
Ms. Chen Yi-JuDirector

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹232.37, which is 12.80% higher than the current market price of ₹206.00. The stock has a market capitalization of 16,080 Cr. and recorded a high/low of 238/159 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹7,449 Cr and total liabilities of ₹26,509 Cr.

What is the Market Cap of ?

The Market Cap of is 16,080 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 206.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 238/159.

What is the Stock P/E of ?

The Stock P/E of is 13.8.

What is the Book Value of ?

The Book Value of is 97.3.

What is the Dividend Yield of ?

The Dividend Yield of is 3.01 %.

What is the ROCE of ?

The ROCE of is 19.5 %.

What is the ROE of ?

The ROE of is 16.8 %.

What is the Face Value of ?

The Face Value of is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in . Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE