Redington (REDINGTON) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue in Q3 FY26, with consolidated revenue reaching INR 30,959 crores and PAT of INR 436 crores, reflecting 16% YoY revenue growth and 9% YoY PAT growth.

• Growth was broad-based across geographies, with India up 25%, UAE up 19%, GCC up 29%, Africa up 14%, and SISA revenue up 24% YoY.

• All major business units contributed, with strong momentum in mobility, endpoint solutions, and software solutions.

• 9MFY26 global revenue rose 18% YoY, with PAT up 17%.

• Total comprehensive income for Q3 FY2026 was ₹455.06 crore.

Financial highlights

• Q3 FY26 global revenue: ₹30,959 Cr (+16% YoY), EBITDA: ₹663 Cr (+2% YoY), PAT: ₹436 Cr (+9% YoY).

• PAT margin for the group was 1.41%; excluding Arena, it was 1.56%.

• Working capital days reduced to 28, with OpEx growth at 9%, below revenue growth.

• ROCE for the quarter stood at 22.1%; ROE at 18.8%.

• Free cash flow for Q3FY26: ₹217 Cr; for 9MFY26: ₹800 Cr.

Outlook and guidance

• SSG expected to sustain 40%+ growth across all markets.

• Management focuses on operational efficiency, digital platforms, and expansion in growth geographies.

• Emphasis on subscription and consumption business models, and investment in cloud and software-led growth.

• Working capital days expected to normalize to 35–40; ROCE guidance at 18–20%.

• Arena losses expected to reduce further, with break-even targeted next year.