Redington India – Well Placed To Ride On Digital Tailwinds: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

We interacted with Redington India Ltd.’s management.

The company is capitalising on demand led by accelerated digital adoption amid work from home during pandemic.

Though chip shortage is expected to limit industry growth, Redington being largest distributor for top global brands will benefit from larger share of supplies from these brands as reflected in top five brands revenue growth of 37% YoY and decline of 3% YoY in other brands as on Q1 FY21.

With strong growth potential in hybrid and private cloud management, management expects cloud business to grow at strong double digit rate in the medium term. (60% YoY in Q1 FY21, 2% of revenues).

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