Redington Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹305.12Overvalued by 22.56%vs CMP ₹394.00

P/E (17.1) × ROE (16.9%) × BV (₹130.00) × DY (1.52%)

₹271.98Overvalued by 30.97%vs CMP ₹394.00

MoS: -44.9% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹325.29	22%	Over (-17.4%)
Graham Number	Earnings	₹256.88	16%	Over (-34.8%)
Earnings Power	Earnings	₹120.36	13%	Over (-69.5%)
DCF	Cash Flow	₹318.47	13%	Over (-19.2%)
Net Asset Value	Assets	₹130.06	7%	Over (-67%)
EV/EBITDA	Enterprise	₹206.54	9%	Over (-47.6%)
Earnings Yield	Earnings	₹225.60	7%	Over (-42.7%)
ROCE Capital	Returns	₹321.37	9%	Over (-18.4%)
Revenue Multiple	Revenue	₹635.80	5%	Under (+61.4%)
Consensus (9 models)		₹271.98	100%	Overvalued

Key Drivers: Wide model spread (₹120–₹636) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 6.6%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 14 September 2026, 2:20 pm +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹99,334.00 Cr, versus ₹89,346.00 Cr in Mar 2024 (11.2% year on year). Net profit for Mar 2025 was ₹1,821.00 Cr, versus ₹1,239.00 Cr in Mar 2024 (47.0% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹293.00 Cr against net profit of ₹1,821.00 Cr. Cash flow covered 0.16 times reported profit. The gap warrants checking receivables, working capital and one-off items in the cash-flow statement.

Balance-sheet check

Reported borrowings were ₹2,842.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Redington Ltd scores 64/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health80/100 · Strong

ROCE 18.4% GoodROE 16.9% GoodD/E 0.30 ModerateInterest Coverage 6.8x StrongProfitable 5/5 available years Reported history

Smart Money50/100 · Moderate

FII holding up 0.15% (6mo) Slight increaseDII holding down 0.60% MF selling

Earnings Quality35/100 · Weak

CFO/NP ratio: -0.41x Poor cash conversionOPM stable around 2% Steady

Quarterly Momentum80/100 · Strong

Revenue (4Q): +18% YoY GrowingProfit (4Q): +56% YoY Strong

Industry Rank65/100 · Strong

P/E 17.1 vs industry 15.7 In-lineROCE 18.4% vs industry 15.2% Above peers3Y sales CAGR: 17% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 14, 2026, 2:20 pm

Market Cap	30,778 Cr.
Current Price	394
Intrinsic Value	₹271.98
High / Low	404/191
Stock P/E	17.1
Book Value	130
Dividend Yield	1.52 %
ROCE	18.4 %
ROE	16.9 %
Face Value	2.00
PEG Ratio	2.59

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Redington Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Redington Ltd	30,778 Cr.	394	404/191	17.1	130	1.52 %	18.4 %	16.9 %	2.00
Gujarat Mineral Development Corporation Ltd	18,153 Cr.	571	772/400	31.8	222	1.77 %	10.8 %	8.34 %	2.00
Gravita India Ltd	13,343 Cr.	1,808	1,914/1,267	34.0	332	0.35 %	17.0 %	16.8 %	2.00
MOIL Ltd	5,197 Cr.	255	405/242	17.1	133	2.09 %	12.6 %	10.0 %	10.0
Ashapura Minechem Ltd	5,186 Cr.	543	925/455	12.6	173	0.37 %	20.7 %	28.0 %	2.00
Industry Average	40,205.23 Cr	532.93		15.65	107.12	1.78%	15.20%	16.16%	5.18

All Competitor Stocks of Redington Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	21,674	21,849	21,187	22,220	23,505	22,433	21,282	24,896	26,716	26,440	25,952	29,076	30,922
Expenses	21,093	21,305	20,768	21,739	22,988	21,974	20,911	24,437	26,114	25,843	25,552	28,487	30,296
Operating Profit	581	543	419	481	517	459	371	458	602	597	400	589	626
OPM %	3%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%
Other Income	40	46	64	76	45	79	53	57	48	696	50	43	37
Interest	88	92	88	106	85	106	81	84	84	82	92	116	79
Depreciation	39	43	42	44	43	52	51	49	54	63	54	55	47
Profit before tax	494	455	352	408	434	381	292	381	513	1,148	304	460	538
Tax %	21%	28%	27%	24%	20%	15%	26%	26%	21%	20%	23%	24%	23%
Net Profit	393	328	255	312	348	324	217	283	403	918	233	350	413
EPS in Rs	4.86	3.97	3.18	3.88	4.36	4.16	3.15	3.75	5.12	8.51	3.52	4.96	5.57

Last Updated: March 3, 2026, 3:08 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 2:46 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	27,945	31,559	35,442	41,115	41,603	46,536	51,465	56,946	62,644	79,377	89,346	99,334	112,389
Expenses	27,261	30,843	34,637	40,264	40,757	45,570	50,373	55,554	60,805	77,174	87,337	97,179	110,177
Operating Profit	684	717	806	851	846	966	1,092	1,392	1,839	2,203	2,009	2,154	2,212
OPM %	2%	2%	2%	2%	2%	2%	2%	2%	3%	3%	2%	2%	2%
Other Income	51	64	34	41	39	-8	44	89	88	142	264	854	825
Interest	212	182	202	183	197	271	289	205	163	355	517	456	368
Depreciation	38	43	47	55	57	63	155	148	141	155	181	218	219
Profit before tax	485	555	590	655	631	623	692	1,128	1,622	1,833	1,575	2,335	2,450
Tax %	26%	26%	25%	27%	23%	22%	23%	30%	19%	21%	21%	22%
Net Profit	358	410	444	477	484	484	534	788	1,315	1,439	1,239	1,821	1,914
EPS in Rs	4.21	4.84	5.30	5.80	6.02	6.53	6.62	9.74	16.38	17.82	15.59	20.53	22.56
Dividend Payout %	11%	20%	20%	37%	20%	18%	32%	60%	40%	40%	40%	33%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	14.53%	8.29%	7.43%	1.47%	0.00%	10.33%	47.57%	66.88%	9.43%	-13.90%	46.97%
Change in YoY Net Profit Growth (%)	0.00%	-6.23%	-0.86%	-5.96%	-1.47%	10.33%	37.23%	19.31%	-57.45%	-23.33%	60.87%

Redington Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	12%
5 Years:	14%
3 Years:	17%
TTM:	16%

Compounded Profit Growth
10 Years:	12%
5 Years:	18%
3 Years:	-3%
TTM:	5%

Stock Price CAGR
10 Years:	17%
5 Years:	34%
3 Years:	16%
1 Year:	22%

Return on Equity
10 Years:	17%
5 Years:	18%
3 Years:	17%
Last Year:	14%

Last Updated: September 5, 2025, 1:00 pm

Balance Sheet

Last Updated: July 16, 2026, 1:30 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	80	80	80	80	78	78	78	156	156	156	156	156
Reserves	2,294	2,869	3,068	3,451	3,828	4,231	4,861	5,629	6,771	7,392	8,565	10,004
Borrowings	1,867	2,349	1,516	1,458	1,307	2,775	622	831	3,321	2,958	2,809	2,842
Other Liabilities	4,135	5,226	5,486	5,875	7,206	7,568	8,999	11,792	13,030	13,880	16,043	20,835
Total Liabilities	8,375	10,525	10,150	10,863	12,419	14,651	14,559	18,407	23,278	24,387	27,573	33,837
Fixed Assets	276	498	476	470	454	714	605	700	877	861	858	666
CWIP	13	14	0	20	38	11	1	85	12	6	15	75
Investments	0	0	5	4	7	0	0	0	34	0	0	0
Other Assets	8,086	10,013	9,669	10,369	11,920	13,925	13,953	17,622	22,354	23,520	26,699	33,095
Total Assets	8,375	10,525	10,150	10,863	12,419	14,651	14,559	18,407	23,278	24,387	27,573	33,837

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	257	-142	1,360	186	1,068	966	3,497	989	-3,234	1,079	293	231
Cash from Investing Activity +	10	12	-86	-25	-94	54	-610	-167	243	37	547	470
Cash from Financing Activity +	-225	202	-1,131	-199	-651	443	-2,241	-476	1,529	-1,381	-1,171	-999
Net Cash Flow	42	71	144	-38	324	1,463	646	346	-1,462	-264	-332	-298
Free Cash Flow	224	-185	1,309	152	995	885	3,459	870	-3,382	1,016	138	125
CFO/OP	51%	5%	180%	40%	131%	100%	270%	69%	-132%	74%	38%	32%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	224.00	-185.00	1,309.00	152.00	995.00	885.00	3,459.00	870.00	-3,382.00	1,016.00	138.00	125.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	51	51	55	45	53	49	50	44	51	55	57	64
Inventory Days	32	35	41	32	29	32	28	20	27	35	29	24
Days Payable	38	40	46	42	44	49	47	50	63	54	51	52
Cash Conversion Cycle	45	46	50	35	38	32	30	14	15	36	34	36
Working Capital Days	21	23	23	20	24	22	11	8	10	21	22	25
ROCE %	18%	17%	16%	16%	16%	18%	15%	20%	28%	25%	19%	19%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
FIIs	56.26%	56.99%	58.09%	57.87%	58.07%	58.53%	60.57%	62.58%	61.81%	61.94%	61.49%	61.96%
DIIs	17.38%	17.92%	18.57%	18.14%	18.08%	18.64%	17.87%	16.65%	16.97%	17.28%	17.12%	16.37%
Government	0.03%	0.03%	0.03%	0.00%	0.00%	0.00%	0.05%	0.06%	0.05%	0.05%	0.06%	0.06%
Public	26.34%	25.05%	23.29%	23.99%	23.84%	22.82%	21.50%	20.71%	21.17%	20.73%	21.33%	21.61%
No. of Shareholders	2,59,172	2,38,806	2,27,423	2,18,658	2,21,761	2,18,928	2,23,938	2,19,740	2,50,955	2,42,936	2,53,694	2,41,094

Shareholding Pattern Chart

No. of Shareholders

Redington Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Mid Cap Fund	35,461,606	1.04	962.61	N/A	N/A	N/A
HDFC Hybrid Equity Fund	14,212,605	1.62	385.8	N/A	N/A	N/A
HDFC Small Cap Fund	13,566,331	1	368.26	N/A	N/A	N/A
HDFC Large and Mid Cap Fund	3,903,026	0.38	105.95	N/A	N/A	N/A
HDFC Retirement Savings Fund - Equity	1,800,000	0.7	48.86	N/A	N/A	N/A
Bandhan Small Cap Fund	955,947	0.13	25.95	785,488	2026-02-23 00:42:31	21.7%
HDFC Technology Fund	682,258	1.16	18.52	N/A	N/A	N/A
HDFC Retirement Savings Fund - Hybrid Equity	350,000	0.56	9.5	N/A	N/A	N/A
ICICI Prudential Technology Fund	193,181	0.03	5.24	N/A	N/A	N/A
Groww Value Fund	40,091	1.65	1.09	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	20.53	15.59	17.82	16.40	19.44
Diluted EPS (Rs.)	20.53	15.59	17.81	16.39	19.40
Cash EPS (Rs.)	26.07	18.16	20.41	18.63	24.02
Book Value[Excl.RevalReserv]/Share (Rs.)	111.56	100.57	93.32	78.16	136.35
Book Value[Incl.RevalReserv]/Share (Rs.)	111.56	100.57	93.32	78.16	136.35
Revenue From Operations / Share (Rs.)	1270.66	1142.89	1015.63	801.64	1463.15
PBDIT / Share (Rs.)	28.87	27.39	28.93	24.05	36.98
PBIT / Share (Rs.)	26.09	25.07	26.94	22.24	33.17
PBT / Share (Rs.)	29.87	20.14	23.46	20.76	28.99
Net Profit / Share (Rs.)	23.29	15.84	18.42	16.83	20.21
NP After MI And SOA / Share (Rs.)	20.53	15.59	17.82	16.38	19.43
PBDIT Margin (%)	2.27	2.39	2.84	2.99	2.52
PBIT Margin (%)	2.05	2.19	2.65	2.77	2.26
PBT Margin (%)	2.35	1.76	2.30	2.58	1.98
Net Profit Margin (%)	1.83	1.38	1.81	2.09	1.38
NP After MI And SOA Margin (%)	1.61	1.36	1.75	2.04	1.32
Return on Networth / Equity (%)	18.40	16.14	20.10	22.12	15.33
Return on Capital Employeed (%)	21.32	23.94	27.52	26.68	23.17
Return On Assets (%)	5.81	4.99	5.98	6.95	5.19
Long Term Debt / Equity (X)	0.00	0.01	0.01	0.01	0.00
Total Debt / Equity (X)	0.30	0.37	0.45	0.10	0.08
Asset Turnover Ratio (%)	3.82	3.75	2.51	2.41	2.28
Current Ratio (X)	1.46	1.43	1.42	1.46	1.53
Quick Ratio (X)	1.11	1.02	0.96	1.09	1.20
Inventory Turnover Ratio (X)	15.35	0.00	0.00	0.00	0.00
Dividend Payout Ratio (NP) (%)	30.20	46.18	37.03	35.39	0.00
Dividend Payout Ratio (CP) (%)	26.59	40.20	33.31	31.87	0.00
Earning Retention Ratio (%)	69.80	53.82	62.97	64.61	0.00
Cash Earning Retention Ratio (%)	73.41	59.80	66.69	68.13	0.00
Interest Coverage Ratio (X)	6.83	5.56	8.32	16.26	9.20
Interest Coverage Ratio (Post Tax) (X)	4.62	4.21	6.29	12.38	6.07
Enterprise Value (Cr.)	20722.11	17775.56	14567.08	8623.36	4740.94
EV / Net Operating Revenue (X)	0.20	0.19	0.18	0.13	0.08
EV / EBITDA (X)	9.18	8.30	6.44	4.59	3.29
MarketCap / Net Operating Revenue (X)	0.19	0.18	0.16	0.18	0.13
Retention Ratios (%)	69.79	53.81	62.96	64.60	0.00
Price / BV (X)	2.18	2.16	1.88	1.96	1.50
Price / Net Operating Revenue (X)	0.19	0.18	0.16	0.18	0.13
EarningsYield	0.08	0.07	0.10	0.11	0.10

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Redington Ltd and is it undervalued?

Redington Ltd: the stored intrinsic value estimate is ₹271.98, compared with a stored share price of ₹394.00. The model value is 31.0% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Redington Ltd?

The stored share price is ₹394.00. Price-data record updated: 14 September 2026, 2:20 pm +05:30. This is not a live quote. The stored 52-week high / low is 404/191; this is a rolling range, not a financial-year range.

How have Redington Ltd's revenue and profit changed?

Does Redington Ltd's profit convert into cash?

What should I check in Redington Ltd's balance sheet?

Reported borrowings were ₹2,842.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Redington Ltd's P/E with other stocks?

The stored P/E is 17.10. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Redington Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.