Redington Limited (REDINGTON.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-174.3%

-₹247.63

vs ₹333.30 price

Levered DCF

₹101.07

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	10.49×	11.19×	13.47×	9.35×	8.84×	9.82×	5.18×	7.97×
P/B	1.54×	2.06×	2.17×	1.88×	1.96×	1.51×	0.62×	1.04×
P/S	0.13×	0.18×	0.18×	0.16×	0.18×	0.13×	0.05×	0.09×
EV / EBITDA	7.76×	6.76×	8.34×	6.43×	4.73×	3.6×	2.93×	5.06×
Gross margin	3.4%	3.8%	4.2%	4.5%	4.7%	4.1%	3.9%	4.3%
Operating margin	1.7%	2.1%	2.1%	2.6%	2.8%	2.2%	1.9%	2.0%
Net margin	1.3%	1.6%	1.4%	1.8%	2.0%	1.3%	1.0%	1.1%
Current ratio	1.41×	1.46×	1.43×	1.42×	1.46×	1.53×	1.41×	1.45×
Debt / equity	0.28×	0.32×	0.39×	0.48×	0.14×	0.13×	0.64×	0.33×
Interest coverage	5.67×	4.5×	2.26×	4.18×	10.09×	8.59×	3.34×	3.43×
Dividend yield	3.4%	2.7%	3.4%	4.0%	4.0%	0.0%	13.2%	2.8%
Payout ratio	35.7%	30.2%	46.2%	37.0%	35.4%	0.0%	68.5%	22.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.7%	18.4%	16.1%	20.1%	22.1%	15.4%	12.0%	13.0%
Return on invested capital	11.4%	13.1%	13.5%	15.3%	19.7%	14.6%	9.8%	12.8%
Return on assets	4.4%	5.8%	5.0%	6.0%	7.0%	5.2%	3.5%	4.1%
Free cash flow yield	-1.1%	0.9%	5.8%	-26.1%	7.6%	46.3%	33.0%	24.4%
Earnings yield	9.5%	8.9%	7.4%	10.7%	11.3%	10.2%	19.3%	12.6%
Enterprise value	₹173.7B	₹194.1B	₹177.6B	₹144.9B	₹88.6B	₹51.3B	₹31B	₹44.9B
Net debt / EBITDA	0.77×	0.51×	0.63×	0.65×	-1.31×	-1.63×	0.41×	0.5×
Cash conversion cycle (days)	35	37	37	40	18	16	33	32