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    Redington India in focus, management expects 2-3% growth above industry levels

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    Redington India in focus, management expects 2-3% growth above industry levels

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    Redington is in focus. The stock is up 13 percent in the last five days. This is after the company announced 1:1 bonus issue. Since the start of the year, the stock is up 170 percent. Some analysts indicated that the company has navigated the pandemic well. So, despite seeing a revenue decline of 8.5 percent in the first quarter, they ended FY21 with a revenue growth of about 11 percent.

    Redington is in focus. The stock is up 13 percent in the last five days. This is after the company announced 1:1 bonus issue.
    Since the start of the year, the stock is up 170 percent. Some analysts indicated that the company has navigated the pandemic well. So, despite seeing a revenue decline of 8.5 percent in the first quarter, they ended FY21 with a revenue growth of about 11 percent.
    The company also managed to improve their EBITDA margins by 40 basis points in FY21.
    In Q4, the company had its highest ever margins at 2.7 percent. It also generated free cash flow of Rs 3,450 crore in FY21.
    The management in Q4 conference call continued to sound very optimistic. They are saying that the company will grow 2-3 percentage points higher than the industry growth.
    One of the future triggers, which could result in the company improving margins from the current 2.5 percent is a higher contribution coming in from the logistics as well as the cloud business.
    Watch the accompanying video of CNBC-TV18’s Reema Tendulkar for more details.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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