Redington Q4 FY23 Result Update:
- Guidance: The company expects to sustain revenue and margin growth despite geopolitical and financial challenges. The demand for data centre infrastructure products, servers, storage, networking, software, and security, as well as cloud products, has been robust, compensating for the subdued demand related to work from home and learn from home. Strong buying is happening in the BFSI, retail, healthcare, and government segments in India. Inventory across the globe has increased, leading to negative pressure on prices, discounting, and working capital flow.
- 30% revenue comes from Apple. Iphone’s revenue is 24%.
(Apple store opening in India will not impact Redington much: Analysts)
Notes of the Article: “Apple is opening just two stores here, which are insignificant to dent Redington’s fortunes. Apple will have to expand rapidly on-ground in order to make a significant impact. Redington operates on a wafer-thin margin of around 3 per cent, which is a worry. There are better options like DMart, Trent and Vaibhav Global in the listed retailing space than Redington,” said A K Prabhakar, head of research at IDBI Capital. HP Inc, Dell EMC, Lenovo, Samsung and other manufacturers were the other contributors during this period, with a share of 11 per cent, 8 per cent, 6 per cent, 5 per cent and 40 per cent, respectively, of the total revenue, a company presentation said. Redington continues to demonstrate superior execution on the back of strong brand partnerships and diversified geographical expansion.
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