Slide 1: Analyst/Investor Meet Presentation
ANALYST/ INVESTOR MEET PRESENTATION
Slide 2: V.S. Hariharan, Managing Director & Group CEO
V.S. Hariharan Managing Director & Group CEO Hariharan is an accomplished leader with three decades of experience in sales, marketing and general management. His career has been defined by a commitment to innovation and a passion for driving growth in diverse markets. As the group CEO of Redington L
Slide 3: Emerging Markets Multinational - About Us
Emerging Markets Multinational Redington 5,200+ Redingtonians creating a culture of inclusion, ABOUT US creativity, and innovation Products , Solutions & Services Company • Entire gamut from Smartphones, PCs, Servers, Storage, to Software • Services : Cloud, IAAS, PAAS, SAAS, Prof Services, Logistic
Slide 4: Global IT Distribution Market
Global IT Distribution Market Total IT Distribution market Globally is ~ 400 Billion USD.
Slide 5: Geo Presence - Global Footprint
Kazakhstan Geo Presence Azerbaijan GLOBAL FOOTPRINT Morocco Turkey Jordan Kuwait Libya Qatar UAE Bangladesh Bahrain Senegal Egypt Oman Ghana Saudi Arabia India Malaysia Strong Leadership Nigeria # 1 In India, UAE, KSA, Africa Côte d'Ivoire # 2 In Turkey Sri Lanka Uganda Singapore Kenya 40 countries
Slide 6: Brand Collaboration Top Brands
Brand Collaboration Top Brands Enviable Partnerships with over 450+ brands Top 10 Brands Contribute to 80% of the revenues Joint biz plans & initiatives Redington is represented in top PABs The next 400+ Brands Software, XaaS contribution growing New categories contribute to growth The Brand Names a
Slide 7: Partner Ecosystem
Partner Ecosystem Customer segments Partner types Enviable 70,000 + partnerships through an omnichannel approach Corporates/ To reach Millions of consumers, SIs, VARs, CSPs, MSPs, ISVs SMBs and Enterprise customers Government Vendor Managed partners Small Enterprises Redington Managed partners Vendo
Slide 8: Portfolio of Geographies, Businesses and Brands
Portfolio Portfolio of Geographies Management Diversify risk enabled by the portfolio of Businesses, Brands and Geographies Portfolio of Businesses
Slide 9: Enabling Technology Adoption: Our DNA & value added
s Enabling Technology Adoption : Our DNA & value added Supply Chain Management Product Solutioning Omni channel approach Inventory management d Product configuration Unique Routes to Market Credit/Financing solutions Pre-sales support Inside sales/Demand Gen. CUSTOMERS BRANDS Hardware & Physical sol
Slide 10: Platform Assets
s Assets behind our DNA – Constantly evolve and stay ahead Key Redington unique route to market Redington B2B Digital Platform Redington B2B Cloud Quarks RTM Assets o D2R, R-LFR, IR, Consumer channel o Easy onboarding with self-service o Redington led mid market channel o Fast provisioning & auto wo
Slide 11: Leadership
Leadership Managing Director* and Group Chief Executive Officer S V Krishnan V. S. Hariharan Finance Director (Whole-Time) Ramesh Natarajan Viswanath Pallasena Serkan Çelik Cem Borhan CEO, Singapore, India CEO, Middle East & Africa CEO, Arena CEO, Redington & South Asia Turkey & CIS Leadership team
Slide 12: Our Identity - Value creation components
s Identity – Value creation components Our HUMAN CAPITAL SCALE IDENTITY Portfolio of Business Operational & Brands Efficiency Routes to Leadership DNA Portfolio of Market Position Geographies Key Assets
Slide 13: S.V. Krishnan: Finance Director - Whole Time
S.V. Krishnan: Finance Director – Whole Time Mr. Krishnan brings a wealth of experience in financial management and strategy. He has played a key role in the company’s growth & expansions over the years, driving financial discipline, risk management, compliance, capital raises, listing and investor
Slide 14: Financial Performance Since Listing
Financial Performance Since listing FY24 Revenue $10.8 Bn. Revenue EBITDA PAT CAGR 15% & 10x in 17 Yrs. CAGR 15% & 11x in 17 Yrs. CAGR 16% & 12x in 17 Yrs. ₹ in Cr. ₹ in Cr. ₹ in Cr. 2,261 1,393 2,141 89,610 1,280 1,219 1,879 79,519 73,052 1,590 62,732 1,439 57,042 939 51,514 46,599 758 1,071 41,642
Slide 15: Structural profitability well protected with higher bias
Structural profitability well protected with higher bias • During COVID years, profitability and return ratios were higher – that’s one-off • FY24 was the 1st full year of normalization • Current profit % and return ratios are better than pre-COVID years • Due to higher contribution from Value (TSG
Slide 16: Significantly larger organisation vs. 2007
Significantly larger organisation vs. 2007 Times (x) Metric 2007 2024 Credit Rating Increase 2007 2025 Markets 11 40 4x Rating P1+ (ST) AA+ (LT)/A1+ (ST) Brands 55 450 8x Agency CRISIL CRISIL/ICRA Partners 15k 70k 5x Amount Rs. 300cr. Rs. 4,900cr. On-roll employees 2,300+ 5,000+ 2x Business Operatio
Slide 17: Superior Balance Sheet credentials
Superior Balance Sheet credentials Networth: FY07 @ 587 Cr. Dec ‘24 @ 8,084 Cr. (14x over 17 Yrs) Net DE 1.2 0.7 0.9 0.7 0.9 • Comfortable with D:E of upto 0.7x, in line 0.6 0.3 0.4 0.6 0.5 0.3 0.3 with Global leaders & for higher Credit Rating 0.2 0.2 0.2 0.0 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14
Slide 18: Robust Risk Management
Robust Risk Management Inventory / AR Provisions Forex management 0.30% 0.27% 0.26% Currency vs. USD FY07 FY25 Times (x) Increase 0.22% 0.21% 0.17% 0.18% Indian INR 44 87.5 2x 0.16% 0.15% 0.12% UAE/KSA Pegged to USD 0.10% 0.11% 0.11% 0.08% 0.05% 0.05% Singapore $ 1.54 1.35 Appreciated 0.00% Turkish
Slide 19: Cash Flow generation
Cash Flow generation For this industry, cash flow generation to be looked at for a longer timespan, not quarterly and sometimes not even yearly Key determinant for the cash flow is the working capital movement For the industry profit levels and 40% dividend payout, 10-12% growth is possible wi
Slide 20: Looking into the future
Looking into the future Inorganic initiatives for Future Growth Acquisitions by Global Majors • To augment organic growth # (count) Business segments • To fill in gaps to make a stronger organization G1 ~35 acq. Distribution, BPO, Cloud • Investment in core business for niche business segments, uniq
Slide 21: Ramesh Natarajan, CEO - India & South Asia
Ramesh Natarajan CEO – India & South Asia Ramesh is a seasoned professional with over three decades of experience in the information technology and service industry. Under his leadership, the company has experienced significant success and expansion, cementing its position as a leader in the IT indu
Slide 22: Financial Performance Since Listing - India & South Asia
FY 07 5,465 FY 08 6,072 ₹ in Cr. FY 09 6,358 Revenue FY 10 6,715 FY 11 8,917 FY 12 10,993 FY 13 12,135 FY 14 13,534 FY 15 15,476 FY 16 16,763 FY 17 18,430 CAGR 13% & 8x in 17 Yrs. FY 18 17,950 FY 19 19,992 FY 20 21,532 FY 21 25,053 FY 22 28,926 FY 23 36,544 FY 24 41,984 9 MF Y 2 5 36,281 FY 07 74 FY
Slide 23: Our Capabilities & Strengths
Our Capabilities & Strengths
Slide 24: Market Opportunities and Our Positioning
Market Opportunities Our Positioning Robust growth in IT Spend in CY25 No. 1 IT Distributor in India for FY23 • 11% growth in ICT spend in CY25 (Gartner) • IT Spend (excl. Communication Services) @ 13% and FY24 (VARIndia) Premiumization of End-point devices & Partnerships with Brands in the Mobi
Slide 25: Viswanath Pallasena, CEO - Middle East & Africa
Viswanath Pallasena CEO – Middle East & Africa Viswanath Pallasena is an accomplished professional in the technology industry. With over three decades of experience, he has held several leadership positions across APJ including serving HP as Managing Director for Philippines.
Slide 26: Redington MEA: Where we play
Redington MEA: Where we play META GDP Growth META Spending $B
Slide 27: Redington MEA Financials: How we performed
FY 07 6,716 FY 08 9,064 ₹ in Cr. FY 09 10,174 Revenue FY 10 11,438 FY 11 12,824 • FY 12 13,913 FY 13 13,976 FY 14 15,762 FY 15 18,012 FY 16 20,294 FY 17 23,190 CAGR 10% & 5x in 17 Yrs. FY 18 27,265 FY 19 28,360 FY 20 30,609 FY 21 30,319 FY 22 32,444 FY 23 35,525 FY 24 37,816 9 MF Y 2 5 29,675 FY 07
Slide 28: Redington MEA: How we win - Distribution Reimagined
Redington MEA: How we win – Distribution REIMAGINED TECHNOLOGY CLOUD ENDPOINT MOBILITY GREEN ENERGY Solutions Group SERVICES Solutions Group Solutions Group Solutions Group Solutions Group Group TSG CSG ENSURE ESG MSG GEG MEA Rank Redington is Ranked 1 or 2 amongst all #1 Distributors across most Ge
Slide 29: Serkan Celik, CEO Arena - Turkey
Serkan Celik CEO, Arena - Turkey Serkan Celik has been the CEO of Arena Group since 2018. He led the establishment of Paynet – one of Turkey’s first fintech companies. He has helped the Arena Group to expand into mobile technologies, Renewable energy technologies, IoT and Automation technology segme
Slide 30: Paynet Divestment: $94 mn Divestment Income
About Paynet Business a success story to open the • FinTech, Payment Facilitating Services for B2B and doors for new ventures B2B2C segments • Established in 2015 by Arena $94 mn Divestment Income • USD 800k total investment • Total Share Value Paid $87 mn + $3 mn • Total Dividend Paid to Arena $4 m
Slide 31: Turkey Financial Performance
Turkey Financial Performance Nov 2010 Aug 2015 Nov 2015 Dec 2021 Jan 2024 Feb 2025 • Investment to Arena • Establishment of Paynet by • Acquisition of Redington • Acquisition of Arena Connect • Step into CIS with • Full Divestment of Paynet - 49,4% Shareholding Arena with fully internal Turkey (form
Slide 32: Measures to Recover Profitability
Measures to Recover Profitability Market Conditions 90% • OpEx Measures 80% 77% Headcount Cut 20% in Arena (Net 61 Headcount reduce in 70% 2024) 64% 65% Shutting Down Unproductive Business Lines 60% 57% 50% 49% 44% • Working Capital Measures 44% 40% 37% Decreasing Overdue Receivables below 5% 36% 30
Slide 33: Redington Turkey
Redington Turkey A Value success story to create sustainable growth and drive Geo expansion Focused Software business model Financial Performance Evolution of Redington Turkey Business • Recurring SW & Subscription revenue to drive • 20+% revenue and 40+% PAT growth over the last 3- • From 40M USD t
Slide 34: Vijaya Raghavan, CEO ProConnect Integrated Logistics
Vijaya Raghavan CEO, ProConnect Integrated Logistic Vijaya Raghavan is a seasoned professional with an illustrious 26year career dedicated to financial excellence and strategic leadership. He has been an integral part of the group for 14 years. As CFO for ProConnect since 2022, Vijay has played a pi
Slide 35: ProConnect: Service & Solutions Company
600+ Service & Solutions Company Employees across regions (India, UAE & KSA) ABOUT US • An Integrated 3PL service provider having presence in India, UAE and KSA • Contract Logistics and Secondary transporter for IT Telecom, FMCD, e-Commerce and FMCG Brands 881+ 201 • Mission Critical Services for Me
Slide 36: Market Trends and ProConnect Responses
Market Trends ProConnect Responses - Investment in Space/ Infra Investments Solution orientation Infrastructure - Invested in Qcomm Infrastructure - Vertical focused Solution Team - Green Logistics - Service provider to Strategic Partner - State of the Art Automated & Green - AI Based Demand Warehou
Slide 37: Value Proposition
Compliance Focused Value Proposition SLA Adherence Speed - Integrated services Accuracy Consistent Delivery of KPI - Importer on Record/Exporter on Visibility Record - Reverse Logistics Control Tower Optimised Cost - Next Flight Delivery Strong Vendor Base Customer Centric Optimum Cost Per Unit
Slide 38: Focus Area
Focus Area Area India Overseas Tier 2 and Tier 3 cities Bahrain, Saudi, Kuwait, Geo Expansion Oman, Qatar Pharma, Auto & Chemical Apparels & E-commerce Vertical Expansion Control Towers & Automated warehouse Technology Integrated Software Service Segment Mission Critical Services 3PL and B2C
Slide 39: Brands Associated
Brands India Overseas Associated Information Fashion & Auto & FMCD Telecom Electrical and Electronics Logistics FMCG/FMCD Engineering Construction Technology Lifestyle Industrial Mission Wellness Pharma/ Industrial E Commerce Healthcare Others Lifestyle Oil & Gas Chemical Critical & Skincare e Pharm
Slide 40: Serkan Kutlu, Global Chief Strategy Officer
Serkan Kutlu Global, Chief Strategy Officer Serkan is a seasoned executive with extensive experience in the IT, telecommunication and business consulting sectors. At Redington, he plays a pivotal role in defining global corporate strategy, identifying both organic & inorganic opportunities, leading
Slide 41: Key Technology Trends
Key Technology Trends Trends Growth (CAGR %) Impact: Customer Perspective INDIA Shift to Subscription & Consumption Models 16% (2022-28) • Cloud scales efficiently without large upfront cost investments. MEA Hybrid Cloud • Adapts dynamically to workloads with flexible pay-as-you-go model. 19.7% (202
Slide 42: Cloud Shift | Global View
Cloud Shift | Global View Forecast: Public Cloud Services will surpass $1T in 2026 Source: Gartner
Slide 43: Cloud Shift | Hyper-scalers
Cloud Shift | Hyper-scalers Hyper-scalers Are the New Center of Gravity 2027 353,155 25.2% CAGR 70% Disruptor Contested Clout 65% 60% China Telecom 2023 150,310 30.9% Growth 82.5% Peer-Indexed Performance Growth 55% 50% 45% China Unicom 52.8% 2022 114,786 40% 35% 30% Oracle Inspur Cloud 25% 49.2% 39
Slide 44: Overview of Software Market
Overview of Software Market Overall Market Segmentation 2024 $557 Bn 5.9% CAGR 5 Yrs. (2024-29) APPLICATIONS SOFTWARE Global Market Size: $775 Bn Software $147 Bn $71 Bn 1.4% CAGR Market 2024 10.9% CAGR Enterprise Software: $300 billion 5 Yrs. (2024-29) $775 Bn 5 Yrs. (2024-29) INFRASTRUCTURE SECUR
Slide 45: Market Opportunity
Markets Opportunity Market • A massive $140B IT market driving innovation. Opportunity India • India’s wealth growth fuels premiumization in consumer tech and enterprise solutions. • Thriving tech hub • Rapid digital adoption • Startup ecosystem expands, driving ISV innovation and SaaS acceleration.
Slide 46: Evolution of the Distribution Landscape
Evolution of the Distribution Landscape Digital Era From Physical Supply Chain to Cloud & Digital Ecosystems From Product Distribution to Customer-Centric, Service-Led Solutions From Standard IT Offerings to Emerging Tech Solutions: AI, Cybersecurity, and Green Tech Reference: “Tech Distributi
Slide 47: Shaping the Future
V.S. Hariharan Managing Director & Group CEO Shaping the Future
Slide 48: Redington Company Strategy
S Redington Company Strategy Pillars Sustainable Accelerate RTM/Biz Model Power of Profitable Core Business Growth Transformation “One Redington”
Slide 49: Core Business - Adjacencies & Growth Areas
s Redington Core Business – Adjacencies & Growth Areas MOBILITY Premium phone AI enabled Up country SOLUTIONS segment Wearables smartphone penetration END POINT Emerging AI PC with good Gaming PC for SOLUTIONS Prof. solutions use cases Mass market TECHNOLOGY Networking Hyper converged Security On Pr
Slide 50: Technology adoption cycle: Impact on emerging markets
sechnology adoption cycle : Impact on emerging markets T Advanced vs Emerging Markets Over time the gap is narrowing in some of our markets Lagged evolution due to barriers We need to manage these two markets differently
Slide 51: Accelerating Business Growth in our Geographies
s Accelerating Business Growth in our Geographies GROWTH GEOGRAPHIES EMERGING GEOGRAPHIES NEW GEOGRAPHIES (GROW AS FAST AS MARKET) (BALANCE RISK AND RETURN) (FOCUSSED APPROACH) INDIA UAE TURKEY AFRICA ASEAN S AFRICA KSA CIS FOCUS ON EMBRACING DIGITAL LOCALIZED GO TO MARKETS TECHNOLOGIES CLOUD /XAAS
Slide 52: Cloud Business & XaaS - Addressable opportunities
s Cloud Business & XaaS – Addressable opportunities for Distribution PaaS & SaaS opportunities SaaS APPLICATIONS SOFTWARE 1. Software licensing Subscription Global 2. Addressable PaaS & SaaS growing Software Professional Market 2024 $775 Bn Services INFRASTRUCTURE SECURITY Applications SOFTWARE SO
Slide 53: Cloud Business & XaaS - How we bring constituents together
s Cloud Business & XaaS – How we bring the constituents together Subscription Customer Strategy Competency End customer needs & Marketplace ISV Motion Domain Motion Domain understanding & Consumption Needs from ecosystem Cloud Center of Excellence Professional services/delivery Demand Generation Ser
Slide 54: AI Pilots
s Where can Redington innovate and create value A successful story of inhouse incubation to divestment Many revenue generating incubations (with IP) inside the company to enhance our business Managed Security Services through our 2 tier partner ecosystem Affordable solution to automate workflows usi
Slide 55: Redington Company Strategy
S Redington Company Strategy Sustainable Accelerate RTM/Biz Model Power of Profitable Core Business Growth Transformation “One Redington” Drive adjacency Grow Cloud and XaaS Scale Redington created ESG Strategy & Roadmap In Core Business Business Routes to Market Create Operational Take advantage of
Slide 56: Professor J. Ramachandran: Chairman of the Board
Professor J. Ramachandran: Chairman of the Board Professor Ramachandran serves as the Chairman of the Board at Redington, providing strategic leadership and oversight. His expertise guides the company towards achieving its vision and goals.
Slide 57: Governing Redington: A Board Led Institution
Governing Redington A Board Led Institution
Slide 58: The Redington Journey
The Redington Journey 1993 2007 2017 2025 Important Milestones Founding of Going Board Led Seventh Largest IT the Company Public Institution Distribution Company in the World Equity Founder No presence in Raised Stepped Americas INR 138 Down Europe crores China
Slide 59: Founder Managed to Board Led Institution
Governing Redington Founder Managed The Big Change 2017 Board Led Institution
Slide 60: Is being Promoter-Less a handicap?
Governing Redington Board Led Institution Is being “ Promoter-Less” a handicap? 2017 The General Belief: A company needs a promoter who is interested in the business
Slide 61: The Redington Journey - No Fresh Equity Raised
The Redington Journey 1993 2007 2017 2025 Founding of Going Board Led 7th Largest IT Financial the Company Public Institution Distribution Company Performance Globally FY07 FY17 FY24 YTD24-25 REVENUE 8,667 39,736 89,610 73,052 PAT 102 464 1,219 939 MARKET CAP 1,067 4,400 16,277 19,513 The Growth Fun
Slide 62: Governance Philosophy
Board Led Instituition Governance Philosophy
Slide 63: Redington First
Board Led Instituition Governance Philosophy Redington First
Slide 64: Profitable Growth
Governance Philosophy Guiding Principle #1 Profitable Growth
Slide 65: Build to Last
Governance Philosophy Guiding Principle #2 Build to Last Manage for the long term
Slide 66: Socially Sensitive
Governance Philosophy Guiding Principle #3 Socially Sensitive
Slide 67: Board Composition
Governance Philosophy Guiding Principle #4 Board Composition Stable Change
Slide 68: Board Composition Stable
Board Composition 2007 2017 2025 Professor J Ramachandran Professor J Ramachandran Professor J Ramachandran (Chair and Independent Director) (Chair and Independent Director) (Chair and non- executive Director) R. Srinivasan Raj Shankar VS Hariharan (Founder and Managing Director) (Managing Director)
Slide 69: Board Led Institution: Shareholder Returns
Board Led Founder Managed Phase Board Led Institution Instituition 2007 - 2017 2017 – Till Date Cumulative Profits 3,035 7,557 Buy Back - ~139 (Equity raised in 2007: 138 crores) Shareholder Cumulative Dividends 558 2578 Returns Market Cap Growth ~3400 crores ~14,000 crores Worth in March 2017 Worth
Slide 70: Role of Synnex Technologies: Strategic or Financial Investor?
Governing Redington Is it a Strategic Investor? Role of Synnex Technologies Or Is it a Financial Investor?
Slide 71: Ownership Structure Over the Years
2007 2017 2025 Governing FOUNDER GROUP: 44% Redington SYNNEX TECHNOLOGIES TAIWAN: 28.3% SYNNEX TECHNOLOGIES TAIWAN: 23.6% SYNNEX TECHNOLOGIES TAIWAN: 24.1% CHRYS CAPITAL STANDARD CHARTERED PE : 15.3% HDFC MF T ROWE PRICE ICICI PRU LIFE FIDELITY MANAGEMENT & RESEARCH MERRILL LYNCH CAPITAL MKT ESPANA
Slide 72: It is a Committed Investor
Governing Is it a Strategic Investor? Or Redington Is it a Financial Investor? Role of Synnex Technologies It is a Committed Investor Committed to the success of the company for the long term
Slide 73: Engaged Shareholders
Shareholding Governing 2003 Redington 2013 2017 Others 25.3% Synnex 2013 Technology International 2021 Corporation 24.1% Engaged 2019 Shareholders 2022 Insurance Companies 3.6% 2010 2010 2010 Mutual Funds FPIs 12.5% (Corporates) 34.4% 2010 2010 Shareholding date: 31 Dec 2024 2009
Slide 74: Sustained Success: Ownership stability is important
Governing Redington Sustained Success Committed (Ownership) stability is important Investor Enables the Board and the Executive Leadership to negotiate disruptions, that are common in the Tech Industry
Slide 75: Ownership Changes in the Global Leaders
Governing Sustained Success (Ownership) stability is important Redington Ownership Changes in the Global Leaders: Last Decade Committed Investor #2 Date #1 Date Relisted on New York Stock Exchange 2024 Merged with another tech major in Ownership changed. Another Private Equity USA 2021 Acquired the
Slide 76: The Redington Footprint
Governing Beyond Technology Led Disruptions Redington Market and Policy Volatility in Emerging Markets The Redington Footprint Ownership 40 40 >25 Sets of 5-75% 5.5-50% 0-100% Stability Countries Currencies Duties & Inflation Rate Interest rate Currency volatility Taxes Matters Multiple Political Sy
Slide 77: Redington is a well governed company
Governing Redington Summary Redington is a well governed company The Board and the Executive Leadership are committed to creating value
Slide 78: Thank You
THANK YOU @Redington