Redtape Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2023 • Shoe Division: 52.6% • Gar & Acc Division: 46.9% • Unallocated: 0.4%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company has a healthy return on capital (ROCE) of 33.9%
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.9%
- Company has been maintaining a healthy dividend payout of 45.3%
- Company maintains a comfortable, low leverage position
CONS
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (40.6% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.43x)
- Stock is trading at 5.9x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DMART | 3667.65 | 78.22 | 239221.00 | 0.00 | 860.44 | 11.34 | 18794.53 | 14.88 | 18.03 | 7.98 |
| TRENT | 2789.70 | 82.24 | 148761.10 | 0.14 | 518.07 | 21.98 | 5754.71 | 17.84 | 36.73 | 19.45 |
| VMM | 103.30 | 54.26 | 48394.07 | 0.00 | 258.77 | 25.57 | 3727.01 | 18.68 | 19.24 | 14.61 |
| METROBRAND | 953.35 | 63.94 | 25987.63 | 0.63 | 95.26 | -3.58 | 720.36 | 14.66 | 35.77 | 29.85 |
| ABLBL | 83.94 | 58.21 | 10245.06 | 0.60 | 29.02 | 20.62 | 2045.74 | 11.15 | 27.34 | 15.06 |
| PNGJL | 613.45 | 20.26 | 9030.14 | 0.00 | 105.33 | 51.91 | 2412.98 | 40.73 | 21.80 | 7.56 |
| V2RETAIL | 218.55 | 44.61 | 7969.15 | 0.00 | 41.85 | 69.70 | 997.20 | 57.73 | 38.43 | 13.99 |
| MEDPLUS | 658.55 | 37.59 | 7911.63 | 0.00 | 33.17 | -21.67 | 1879.60 | 21.84 | 22.22 | 7.09 |
| AVL | 604.25 | 56.15 | 7803.17 | 0.21 | 77.22 | 39.99 | 1192.68 | 26.85 | 20.82 | 10.44 |
| EMIL | 192.05 | 35.84 | 7389.10 | 0.00 | 120.64 | 458.07 | 2418.95 | 39.07 | 11.84 | 9.88 |
| ETHOSLTD | 2684.65 | 69.15 | 7183.50 | 0.00 | 28.66 | 50.71 | 461.71 | 33.32 | 13.70 | 12.97 |
| REDTAPE | 115.05 | 25.81 | 6360.05 | 1.74 | 44.48 | 15.23 | 481.28 | 3.65 | 31.03 | 17.36 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 393 | 323 | 616 | 502 | 441 | 416 | 662 | 504 | 463 | 491 | 786 | 674 | 4,803 | |
| 314 | 268 | 513 | 431 | 372 | 351 | 536 | 460 | 385 | 418 | 614 | 562 | 4,327 | |
| Operating Profit | 79 | 55 | 103 | 71 | 68 | 65 | 127 | 44 | 78 | 73 | 172 | 112 | 476 |
| OPM % | 20.12% | 17.10% | 16.71% | 14.12% | 15.46% | 15.52% | 19.12% | 8.77% | 16.79% | 14.86% | 21.84% | 16.66% | 9.92% |
| 1 | 1 | 3 | 5 | 2 | 3 | 9 | 63 | 9 | 10 | 7 | 23 | 152 | |
| Interest | 5 | 8 | 9 | 10 | 10 | 12 | 13 | 16 | 16 | 19 | 18 | 15 | 145 |
| Depreciation | 12 | 15 | 16 | 15 | 19 | 21 | 22 | 21 | 21 | 22 | 23 | 22 | 236 |
| Profit before Tax | 63 | 33 | 81 | 51 | 41 | 36 | 100 | 70 | 49 | 42 | 139 | 98 | 628 |
| Tax % | 27.24% | 22.16% | 25.83% | 24.07% | 26.23% | 27.84% | 26.25% | 22.42% | 20.46% | 33.73% | 23.69% | 27.02% | 25.33% |
| Net Profit | 46 | 26 | 60 | 39 | 31 | 26 | 74 | 54 | 39 | 28 | 106 | 71 | 469 |
| 3.29 | 1.86 | 4.35 | 0.70 | 0.55 | 0.46 | 1.34 | 0.98 | 0.71 | 0.51 | 1.91 | 1.29 | 0.85 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 0 | 1,459 | 1,832 | 2,018 | 2,415 | 2,432 | |
| 0 | 1,222 | 1,522 | 1,798 | 2,059 | 2,027 | |
| Operating Profit | -0 | 236 | 310 | 220 | 355 | 405 |
| OPM % | — | 16.20% | 16.91% | 10.90% | 14.72% | 16.64% |
| 0 | 7 | 13 | 164 | 133 | 55 | |
| Interest | 0 | 17 | 37 | 54 | 73 | 66 |
| Depreciation | 0 | 44 | 59 | 83 | 88 | 90 |
| Profit before Tax | -0 | 181 | 227 | 247 | 328 | 341 |
| Tax % | -0.00% | 24.87% | 25.29% | 25.39% | 25.49% | 26.19% |
| Net Profit | -0 | 136 | 170 | 184 | 244 | 252 |
| EPS | -0.84 | 9.85 | 12.29 | 3.34 | 4.42 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 67.42% | 45.28% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 22%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 3%
- 1 Year:
- -16%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 14%
- 3 Years:
- 28%
- Last Year:
- 27%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0 | 28 | 28 | 111 | 111 |
| -0 | 438 | 605 | 678 | 914 | |
| 0 | 241 | 424 | 657 | 660 | |
| Trade Payables | 0 | 344 | 275 | 518 | 363 |
| 0 | 176 | 295 | 318 | 338 | |
| Total Liabilities | 0 | 1,227 | 1,627 | 2,281 | 2,386 |
| 0 | 368 | 645 | 716 | 749 | |
| Capital Work in Progress | 0 | 65 | 9 | 46 | 25 |
| 0 | 1 | 0 | 0 | 0 | |
| 0 | 643 | 760 | 1,218 | 1,150 | |
| 0 | 0 | 90 | 109 | 209 | |
| Cash & Bank | 0 | 15 | 8 | 12 | 9 |
| 0 | 135 | 114 | 181 | 244 | |
| Total Assets | 0 | 1,227 | 1,627 | 2,281 | 2,386 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -0 | 150 | 82 | 2 | 176 | |
| Cash from Investing | 0 | -116 | -115 | -98 | -84 |
| Cash from Financing | 0 | 12 | 26 | 99 | -94 |
| 0 | 7 | -7 | 2 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-26 - Redtape Limited has informed the Exchange about change in Management
2026-08-26 - Redtape Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 25, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-25 - Redtape Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 25, 2026
2026-08-14 - Redtape Limited has informed the Exchange about Transcript
2026-08-11 - Redtape Limited has informed the Exchange about Link of Recording
2026-08-11 - Newspaper Publication under Regulation 30 and 47 of SEBI (LODR) Regulations, 2015
2026-08-10 - Redtape Limited has informed the Exchange regarding a press release dated August 10, 2026, titled "Press Release".
2026-08-10 - Redtape Limited has informed the Exchange about Investor Presentation
2026-08-10 - Redtape Limited has informed the Exchange regarding 'Results for Quarter ended June 30, 2026'.
News
Recent coverage and analyst commentary for REDTAPE
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Redtape Ltd.
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