Redington Limited · NSE:REDINGTON
Redington — Q4 FY2024 Earnings Presentation
26 slides from Redington's earnings presentation, June 2024
Slide 1: Earnings Presentation Q4FY24
EARNINGS PRESENTATION Q4FY24
Slide 2: 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 3: Financial Highlights
Financial Highlights Highest ever Revenue in Redington History FY24 Revenue more than > $10bn ₹ 89,610 cr. 13% YoY Revenue PAT H1 FY24 49% H1 FY24 H2 FY24 H2 FY24 45% 51% 55%
Slide 4: Financial Highlights
Financial Highlights YoY growth in absolute PAT and PAT as a % of 1.36% Revenue 1.42% 1.45% 1.45% Q4FY23 ↑ 5% Q4FY24 INR 310 cr. INR 326 cr. Sequential improvement in PAT% Q1FY24 Q2FY24 Q3FY24 Q4FY24 1.17% 1.36% 1.45% 1.45%
Slide 5: Financial Highlights
Financial Highlights “Highest ever Quarter Revenue” • Q4FY24 – On a Global basis, Revenue grew by 3%, GM grew by 3%, EBITDA degrew by 9% and PAT grew by 5% • SISA – Revenue grew by 8%, GM degrew by 0.2%, EBITDA grew by 25% and PAT grew by 28% • ROW – Revenue degrew by 2%, GM grew by 4%, EBITDA degre
Slide 6: Financial Highlights: SISA Business
Financial Highlights SISA BUSINESS FY24 Revenue grew by 15%, GM grew by 10%, EBITDA grew by 17% and PAT grew by 8% ROCE was at 25% and ROE at 20% for FY24 FY24 WC days stood at 34 days, reduction seen both on yoy and sequential basis. India Distribution • Strong double digit Revenue growth trend con
Slide 7: Financial Highlights: ROW Business
Financial Highlights ROW BUSINESS FY24 Revenue grew by 11%, GM grew by 8%, EBITDA degrew by 23% and PAT degrew by 28% ROCE was at 20% and ROE at 14% for FY24 FY24 WC days stood at 34 days, reduction by 3 days on a yoy basis and remained flat on sequentially Arena Revenue in FY24 grew by 13% YoY
Slide 8: Q4FY24 Performance
Redington Q4FY24 Performance
Slide 9: Q4FY24 Redington Global Performance
Q4FY24 Redington Global Performance REVENUE GM EBITDA PAT 3% 3% 9% 5% 22,513 1,344 590 21,895 1,311 539 310 326 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 ₹ in Cr
Slide 10: Q4FY24 Performance by Market
Q4FY24 Performance by Market REVENUE GM EBITDA PAT 8% 0.2% 25% 28% 9,981 10,810 540 539 307 SISA 246 171 134 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 2% 4% 33% 12% ROW 11,914 11,703 806 772 344 176 155 231 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 ₹ in Cr
Slide 11: Q4FY24 Contribution by Market
Q4FY24 Contribution by Market REVENUE GM EBITDA PAT 43 48 54 52 59 60 58 % 57 % % % % % % % 57 52 46 48 41 40 42 43 % % % % % % % % Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 SISA ROW SISA ROW SISA ROW SISA ROW
Slide 12: Q4FY24 Working Capital Days
Q4FY24 Working Capital Days SISA ROW GLOBAL 1 2 5 3 38 36 33 33 33 34 34 32 34 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24
Slide 13: Q4FY24 Top Vendors
Q4FY24 Top 5 Vendors REVENU E 39% 40% OTHERS SAMSUNG 5% 5% LENOVO 5% 5% DELL EMC 7% 6% HP Inc 12% 12% APPLE 32% 32% Q4FY23 Q4FY24
Slide 14: Q4FY24 Verticals Revenue
Q4FY24 Verticals Revenue SISA ROW GLOBAL Verticals Q4FY23 Q4FY24 YoY Q4FY23 Q4FY24 YoY Q4FY23 Q4FY24 YoY ESG 3,056 3,371 10% 3,647 3,874 6% 6,703 7,244 8% TSG 3,297 3,489 6% 2,710 2,372 -12% 6,008 5,861 -2% MSG 3,061 3,245 6% 4,867 4,644 -5% 7,928 7,889 0% CSG 285 378 33% 401 506 26% 686 884 29% Ren
Slide 15: Q4FY24 Free Cash Flow Statement
Q4FY24 Free Cash Flow Statement Particulars (₹ in Cr) Q4FY23 Q3FY24 Q4FY24 Profit Before Taxation 455 434 381 Non-cash items 57 45 42 Finance Cost 70 53 74 Changes in Working Capital (447) (610) 768 Direct Tax Paid (106) (105) (128) Net Cash Flow from Operations 30 (183) 1,137 Capex (86) (56) 44 Out
Slide 16: FY24 Performance
Redington FY24 Performance
Slide 17: FY24 Redington Global Performance
FY24 Redington Global Performance REVENUE GM EBITDA PAT 13% 9% 5% 12% 89,610 5,329 79,519 2,261 1,393 4,886 2,141 1,219 FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 ₹ in Cr
Slide 18: FY24 Performance by Market
FY24 Performance by Market REVENUE GM EBITDA PAT 15% 10% 17% 8% 42,404 2,223 1,15 36,960 2,021 SISA 9 990 600 649 FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 11% 8% 23% 28% 47,206 2,86 3,10 ROW 1,27 42,559 5 6 0 982 792 570 FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 ₹ in Cr
Slide 19: FY24 Contribution by Market
FY24 Contribution by Market REVENUE GM EBITDA PAT 46 47 54 53 59 58 56 57 % % % % % % % % 54 53 46 47 41 42 44 43 % % % % % % % % FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 SISA ROW SISA ROW SISA ROW SISA ROW
Slide 20: FY24 Working Capital Days
FY24 Working Capital Days SISA ROW GLOBAL 2 3 2 7 3 41 36 37 36 37 34 34 34 34 FY23 9mFY24 FY24 FY23 9mFY24 FY24 FY23 9mFY24 FY24
Slide 21: Working capital trend
Working capital trend GLOBAL Pre-Covid Covid Post-Covid 41 44 37 36 34 31 14 14 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 WC levels were severely low during the Covid period as a result of demand supply situation during that time. However, WC has returned to normalized levels now.
Slide 22: FY24 Top Vendors
FY24 Top 5 Vendors REVENU E 37% 41% OTHERS SAMSUNG 6% LENOVO 5% 7% 6% DELL EMC 8% 7% HP Inc 12% 11% APPLE 29% 30% FY23 FY24
Slide 23: FY24 Verticals Revenue
FY24 Verticals Revenue SISA ROW GLOBAL Verticals FY23 FY24 YoY FY23 FY24 YoY FY23 FY24 YoY ESG 13,936 13,443 -4% 14,658 16,346 12% 28,594 29,788 4% TSG 11,861 13,408 13% 9,359 10,117 8% 21,220 23,525 11% MSG 9,225 13,179 43% 16,255 18,079 11% 25,480 31,258 23% CSG 980 1,374 40% 1,202 1,589 32% 2,182
Slide 24: FY24 Free Cash Flow Statement
FY24 Free Cash Flow Statement Particulars (₹ in Cr) FY23 9mFY24 FY24 Profit Before Taxation 1,833 1,194 1,575 Non-cash items 189 125 167 Finance Cost 215 200 274 Changes in Working Capital (572) (5,153) (1,340) Direct Tax Paid (335) (331) (459) Net Cash Flow from Operations 985 (3,251) (152) Capex (
Slide 25: Shareholding Pattern
Shareholding Pattern Others Others 27.4% Synnex 26.2% Synnex Technology Technology International International Corporation Corporation 24.1% 24.1% Insurance Insurance Companies Companies 3.7% 3.7% FPIs FPIs (Corporates) (Corporates) 32.8% Mutual Funds 33.9% Mutual Funds 12.1% 11.9% Dec-2023 Mar-2024
Slide 26: 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 Connecting The Dots https://www.redingtongroup.com Transformation from ‘Product’ to ‘Utility of Produc