Redington Limited · NSE:REDINGTON
Redington — Q4 FY25 Earnings Presentation
55 slides from Redington's earnings presentation, May 19, 2025
Slide 1: Exchange filing cover letter
Registered & Corporate Office Redington Limited Block3, Plathin, Redington Tower, Inner Ring Road, Saraswathy Nagar West, 4th Street, Puzhuthivakkam, Chennai -600091 Email: investors@redingtongroup.com CIN: L52599TN1961PLC028758 www. redingtongroup.com Ph: 044 4224 3111 May 19, 2025 The National Sto
Slide 2: Earnings Presentation Q4FY25
EARNINGS PRESENTATION Q4FY25
Slide 3: Disclaimer
Disclaimer This presentation contains “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Redington Limited’s future business developments and economic performance. While these forward lo
Slide 4: Paynet Divestment
Paynet Divestment Paynet Divestment completed in Q4FY25 • A definitive agreement was executed on May 06, 2024 between a step down subsidiary of the company, Arena Bilgisayar Sanayi Ve Ticaret A.S (“Arena”) and Iyzi Payment and Electronic Money Services Inc (“Iyzico”,), for the sale of 100% of the eq
Slide 5: Financial Highlights: EBITDA% and PAT%
Financial Highlights Q1FY25 Q2FY25 Q3FY25 Q4FY25 1.15% 1.17% PAT% 1.50% 1.51% 1.99% 2.06% 2.43% 2.52% EBITDA% Sequential improvement in profitability during CY25 3
Slide 6: Financial Highlights
Financial Highlights Highest Ever PAT achieved in any Quarter EBITDA and PAT grew faster than Revenue during the Quarter • Q4FY25 – YoY growth • Global excl. Arena - Revenue grew by 21%, EBITDA grew by 26% and PAT grew by 28% • SISA – Revenue grew by 25%, EBITDA grew by 21% and PAT grew by 27% • ROW
Slide 7: Financial Highlights
Financial Highlights Quarterly Global PAT exceeded INR400cr for two consecutive quarters • Key Metrics – Global • WC days for Q4FY25 is 34 days, no change on YoY basis • Q4FY25 - ROCE was 24% and ROE was 20% • Q4FY25 – CSG grew by 41% on YoY basis and TSG grew by 28% SISA : Singapore, India & South
Slide 8: Financial Highlights: SISA Business
Financial Highlights SISA BUSINESS Q4FY25 YoY Revenue grew by 25%, EBITDA grew by 21% and PAT grew by 27% ROCE was at 26% and ROE at 22%. WC days stood at 30 days, reduced by 3 days on YoY basis. YoY Strong growth across all BUs - MSG grew by 36%, TSG grew by 25%, ESG grew by 17% and CSG grew by 56%
Slide 9: Financial Highlights: ROW Business
Financial Highlights ROW BUSINESS Q4FY25 YoY Revenue grew by 11%, EBITDA grew by 28% and PAT grew by 19% WC days stood at 37 days, up by 3 days on YoY basis YoY Strong growth in TSG by 32% and CSG by 30% PROCONNECT GLOBAL • Revenue: Q4FY25 YoY growth of 6%, Full Year YoY growth of 10% • EBITDA : FY2
Slide 10: Q4 FY25 Performance Snapshot
Q4 FY25 Performance Snapshot
Slide 11: Q4FY25 Redington Global Excl. Arena Performance
Q4FY25 Redington Global Excl. Arena Performance REVENUE GM EBITDA PAT 21% 13% 26% 28% 24,301 1,311 20,090 659 1,157 420 525 327 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 ₹ in Cr
Slide 12: Q4FY25 Redington Global Performance
Q4FY25 Redington Global Performance REVENUE GM EBITDA PAT 18% 9% 24% 23% 26,510 1,469 1,344 667 22,513 539 400 326 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 ₹ in Cr
Slide 13: Q4FY25 Performance by Market
Q4FY25 Performance by Market REVENUE GM EBITDA PAT 25% 23% 21% 27% 13,465 371 662 216 307 SISA 10,810 539 171 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 11% 0% 28% 19% 13,045 ROW 11,703 806 807 296 185 231 155 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 ₹ in Cr
Slide 14: Q4FY25 Performance by Market (Excl. Arena)
Q4FY25 Performance by Market (Excl. Arena) REVENUE GM EBITDA PAT 17% 5% 32% 30% ROW Excl. Arena 10,836 619 649 204 9,280 288 217 156 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 ₹ in Cr
Slide 15: Q4FY25 Contribution by Market
Q4FY25 Contribution by Market REVENUE GM EBITDA PAT 43% 44% 48% 46% 52% 49% 60% 55% 57% 56% 52% 54% 48% 51% 40% 45% Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25
Slide 16: Q4FY25 Working Capital Days
Q4FY25 Working Capital Days SISA ROW GLOBAL 3 3 1 2 1 35 37 33 34 34 33 34 31 30 Q4FY24 Q3FY25 Q4FY25 Q4FY24 Q3FY25 Q4FY25 Q4FY24 Q3FY25 Q4FY25
Slide 17: Q4FY25 Top Vendors
Q4FY25 Top 5 Vendors REVENUE 38% 40% OTHERS SAMSUNG 5% 5% DELL EMC 6% 7% LENOVO 6% 8% HP Inc 12% APPLE 10% 32% 31% Q4FY24 Q4FY25
Slide 18: Q4FY25 Verticals Revenue
Q4FY25 Verticals Revenue SISA ROW GLOBAL Verticals Q4FY24 Q4FY25 YoY Q4FY24 Q4FY25 YoY Q4FY24 Q4FY25 YoY ESG 3,371 3,930 17% 3,862 4,115 7% 7,233 8,045 11% TSG 3,487 4,374 25% 2,366 3,122 32% 5,853 7,496 28% MSG 3,246 4,408 36% 4,655 4,948 6% 7,901 9,355 18% CSG 378 590 56% 506 659 30% 884 1,249 41%
Slide 19: Q4FY25 Free Cash Flow Statement
Q4FY25 Free Cash Flow Statement Particulars (₹ in Cr) Q4FY24 Q3FY25 Q4FY25 Profit Before Taxation 381 513 1,148 Non-cash items 42 61 (525) Finance Cost 74 84 82 Changes in Working Capital 768 (2,473) (356) Direct Tax Paid (128) (118) (141) Net Cash Flow from Operations 1,137 (1,933) 208 Capex 44 (39
Slide 20: FY25 Performance Snapshot
FY25 Performance Snapshot
Slide 21: FY25 Redington Global Excl. Arena Performance
FY25 Redington Global Excl. Arena Performance REVENUE GM EBITDA PAT 14% 4% 12% 16% 90,465 4,809 4,606 79,398 2,192 1,953 1,394 1,199 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 ₹ in Cr
Slide 22: FY25 Redington Global Performance
FY25 Redington Global Performance REVENUE GM EBITDA PAT 11% 2% 5% 10% 99,562 5,329 5,448 89,610 2,257 2,141 1,340 1,219 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 ₹ in Cr
Slide 23: FY25 Performance by Market
FY25 Performance by Market REVENUE GM EBITDA PAT 18% 10% 13% 21% 50,070 1,312 42,404 1,159 2,445 787 SISA 2,223 649 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 5% 3% 4% 3% ROW 47,206 49,492 3,106 3,003 982 945 570 552 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 ₹ in Cr
Slide 24: FY25 Performance by Market (Excl. Arena)
FY25 Performance by Market (Excl. Arena) REVENUE GM EBITDA PAT 9% 1% 11% 10% ROW Excl. Arena 40,395 880 794 2,383 607 2,363 550 36,995 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 ₹ in Cr
Slide 25: FY25 Contribution by Market
FY25 Contribution by Market REVENUE GM EBITDA PAT 42% 41% 46% 47% 53% 50% 58% 55% 54% 58% 59% 50% 53% 47% 42% 45% FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25
Slide 26: FY25 Working Capital Days
FY25 Working Capital Days SISA ROW GLOBAL 1 6 2 40 34 34 34 36 33 FY24 FY25 FY24 FY25 FY24 FY25
Slide 27: FY25 Top Vendors
FY25 Top 5 Vendors REVENUE 39% 40% OTHERS SAMSUNG 5% 6% DELL EMC 7% 6% LENOVO 7% 8% HP Inc APPLE 11% 10% 31% 30% FY24 FY25
Slide 28: FY25 Verticals Revenue
FY25 Verticals Revenue SISA ROW GLOBAL Verticals FY24 FY25 YoY FY24 FY25 YoY FY24 FY25 YoY ESG 13,444 15,419 15% 16,340 16,400 0% 29,784 31,819 7% TSG 13,407 15,501 16% 10,114 11,741 16% 23,521 27,242 16% MSG 13,178 16,539 26% 18,072 17,886 -1% 31,250 34,425 10% CSG 1,375 2,041 48% 1,592 2,188 37% 2
Slide 29: FY25 Free Cash Flow Statement
FY25 Free Cash Flow Statement Particulars (₹ in Cr) FY24 FY25 Profit Before Taxation 1,575 2,335 Non-cash items 167 (380) Finance Cost 274 330 Changes in Working Capital (572) (1,463) Direct Tax Paid (459) (525) Net Cash Flow from Operations 985 298 Capex 0 (155) Outflow of Finance Cost (257) (325)
Slide 30: Shareholding Pattern
Shareholding Pattern Others Others 25.3% 24.0% Synnex Synnex Technology Technology International International Corporation Corporation 24.1% 24.1% Insurance Insurance Companies Companies 3.3% 3.6% FPIs Mutual Funds FPIs (Corporates) Mutual Funds 12.1% 36.4% 34.4% 12.5% Dec-2024 Mar-2025
Slide 31: Investor Contacts
Investor Contacts Vijayshyam Acharya K Compliance Officer Registered office: Block 3, Plathin, Redington Tower, Inner Ring Road, Saraswathy Nagar West, 4th Street, Puzhuthivakkam, Chennai - 600 091 https://www.redingtongroup.com Connecting The Dots CIN - L52599TN1961PLC028758 Transformation from ‘Pr
Slide 32: Corporate Presentation
—— \ il me of CORPORATE a PRESENTATION * i @Redington
Slide 33: Contents
Contents 01 04 About Redington ESG & CSR 02 05 Shareholders, Board of Financials Directors & Leadership team 03 06 Our Strategy and Growth Vectors Recognitions
Slide 34: Disclaimer
This presentation contains “forward looking statements” including, but without limitation, statements relating to the Disclaimer implementation of strategic initiatives, and other statements relating to Redington Limited’s future business developments and economic performance. While these forward-lo
Slide 35: About Us
Redington ~5,100 Products , Service & Solutions Company Redingtonians creating a culture of inclusion, ABOUT US • An Emerging Markets Multinational with presence across 40 markets creativity, and innovation • Distributor entire gamut of IT products, Smartphones, Solar, etc. • Service & Solutions Man
Slide 36: Company history timeline (1993 onward)
1993 - 98 2003 - 06 • Commenced IT distribution in • Strategic investment by India with HP Contract. Synnex with 36% equity. • Consolidated top 4 brands – • Investment by PE Fund HP, Epson, Seagate & Intel. Chrys Capital with 11% • Started Redington Services, equity. the backbone of Solutions • Fora
Slide 37: Company history timeline (2015 onward)
2015 - 18 2023 - 25 • India’s No 1 Distributor by VAR India. • Launch of Cloud Portal, our first e- commerce platform for all cloud • ISO 27001 Certification. products. • Most Preferred Workplace 2023 • Evolved from a promoter led to a • Awarded LinkedIn Top Companies in board-governed and professio
Slide 38: Core Values
Core Values Uncompromising Results integrity through teamwork Being open, honest and Individual contribution key to direct in our dealings our success Being transparent with Ensure effective our communications collaboration and actions Respect and Trust Strive for excellence Fostering a culture High
Slide 39: Fundamental Drivers of Our Success
Fundamental Drivers of Our Success Most Trusted Distributor Complete Life Cycle Management Technology Solutions Supply Chain Solutions Operational Excellence Financial Solution Coverage & Reach Investor Risk Management • Leading-edge tech • Optimized stock levels • Consistent delivery • Technology i
Slide 40: Portfolio
Portfolio End Point Solutions Group Technology Solutions Group Mobility Solutions Group Cloud Solutions Group PCs, Laptops, Desktops, Networking, Software, Smartphones Cloud Resell, Managed All-in-Ones, Printers, Server & Storage, Licensing & Services Consumables & Accessories Subscription, Enterpri
Slide 41: Brand Collaboration Top Brands
Brand Collaboration Top Brands Enviable Partnerships with ~450 brands The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only.
Slide 42: Presence: Global Footprint
Kazakhstan Presence Azerbaijan GLOBAL FOOTPRINT Morocco Turkey Jordan Kuwait Libya Qatar UAE Bangladesh Bahrain Senegal Egypt Oman Ghana Saudi Arabia India Malaysia Nigeria Côte d'Ivoire Sri Lanka Uganda Singapore #1 - #2 Kenya Across All Markets Rwanda 32 Tanzania In Country Presence 40 Markets Ser
Slide 43: Route to Market
Route to Market CHANNEL PARTNERS Commercial/Enterprise IT Consumer IT Mobility • System Integrators • Large Format Retailers • Large Format Retailers • Corporate Resellers • Hypermarkets • Exclusive Brand Stores • Cloud Partners & Providers • E-tailers • Hypermarkets • ISVs • Marketplace Players • E
Slide 44: Shareholders
Others 24.0% Synnex Shareholders Technology International Corporation 24.1% Insurance Companies 3.3% Mutual Funds 12.1% FPIs (Corporates) Shareholding date: 31 Mar 2025 36.4%
Slide 45: Board of Directors
Board of Directors Professor J. Ramachandran B. Ramaratnam Tu, Shu-Chyuan Chairman, Non- Executive Non Independent Director Non Executive Non Independent Director Independent Director V S Hariharan Anita P Belani Chen, Yi-Ju Managing Director & Group Independent Director Non Executive Non Independen
Slide 46: Corporate Strategy
Corporate Strategy Sustainable Profitable Accelerate Business Route to market Power of Core Growth Transformation “One Redington” Maintaining leadership Faster adoption of Segmented approach that Engaging our ecosystem position across subscription and enables high-touch by co-creating distinctive ge
Slide 47: Key Technology Trend
Key Technology Trend Technology Trends What it means for Redington GROWTH CAGR % 2024-32 Building a diverse product Enhancing support for portfolio catering to hybrid cloud migration and hybrid INDIA MEA 2025 Hybrid Cloud 21% 20% cloud requirements infrastructure management Global IT spend growth 9.
Slide 48: Biz Model Trends
Biz Model Trends Business Model Trends What it means for Redington • Focusing on life-cycle management and expand service offerings for Subscription Model long-term customer success Product to Services • Leveraging on technology to embrace recurring revenue models: invest in new cloud platform, buil
Slide 49: Approach towards ESG
Approach Our Sustainability Strategy towards ESG Reimagined Responsible Redefined Value Resilient Business 01 Efficiencies 02 Business Practices 03 Chain Engagement 04 1+ GW 1% 29% 70% Solar Capacity created Renewable energy Women representation on Board Trade vendors ESG aligned in India (7X Y-o-Y
Slide 50: Approach towards CSR: Key Anchors
Approach Aligned to Business Social Cause Leverage business processes, Solve specific problems within towards CSR key partnerships and business thematic areas such as education and livelihoods basis the most expertise to create maximum value in focus areas critical needs Key Stakeholder Anchors Geog
Slide 51: Performance Since Listing
FY 07 8,667 FY 08 10,370 ₹ in Cr. FY 09 11,919 FY 10 13,162 Revenue FY 11 16,373 FY 12 20,780 FY 13 23,446 FY 14 CAGR 15% 27,244 FY 15 30,736 FY 16 34,420 FY 17 39,736 FY 18 41,642 FY 19 46,599 FY 20 51,514 FY 21 57,042 FY 22 62,732 FY 23 79,519 FY 24 89,610 FY 25 99,562 Performance Since listing FY
Slide 52: Shareholder Value Creation
Shareholder Value Creation EPS Book Value/Share Shareholder Payout# CAGR 21% 17.8 CAGR 14% ~42% of profit earned 107 17.1 16.4 15.6 60% 95 88 73 40% 40% 40% 39% 9.7 55 32% 55 6.6 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25* FY 20 FY 21 FY 22 FY 23 FY 24 FY 25* FY 20 # FY 21 FY 22 FY 23 FY 24 FY 25 @ ROE ROC
Slide 53: Q4 FY25 Performance Snapshot
Revenue EBITDA PAT Q4 FY25 18% 24% 23% Performance Q4 FY25 ₹26,510 Cr. Q4 FY25 ₹667 Cr. Q4 FY25* ₹400 Cr. Snapshot Q4 FY24 ₹22,513 Cr. Q4 FY24 ₹539 Cr. Q4 FY24 ₹326 Cr. Net Debt - Equity ROE ROCE Q4 FY25 0.14x Q4 FY25* 19.8% Q4 FY25 24.0% Q4 FY24 0.15x Q4 FY24 18.1% Q4 FY24 21.2% * Excluding profits
Slide 54: Awards
Certified MEA Linked i) hele esas I REDINGTON LIMITED, ee he
Slide 55: Thank You
THANK YOU Redington