Redington

July 1 (Reuters) - GNG Electronics Ltd GNGL.NS:

• ANNOUNCES STRATEGIC PARTNERSHIP WITH REDINGTON FOR NATIONWIDE EXPANSION

Source text: ID:nBSE5rCPmv

Further company coverage: GNGL.NS

(([email protected];;))

By Praveen Paramasivam

May 15 (Reuters) - Indian IT goods distributor Redington REDI.NS has sharply increased its use of air freight to keep products moving into the Middle East as conflict in the region disrupts sea routes and weighs on supply and demand, a top executive said.

Air freight rates have surged since the U.S.-Israeli war on Iran began at the end of February, as higher fuel costs and disrupted sea shipments squeeze capacity.

"A good chunk of the product used to come by sea and a smaller chunk by air. A lot of it has moved by air because the Strait of Hormuz is closed," V. S. Hariharan, managing director and group CEO, told Reuters on Thursday.

Redington serves customers across more than 40 markets including the United Arab Emirates and Saudi Arabia, but does not disclose country-specific revenue. The "rest of the world" segment, covering markets outside India, Singapore and South Asia, contributes nearly half its revenue.

It has also had to redistribute inventory across warehouses to limit potential damage from the war and arrange alternative insurance coverage after insurers withdrew war-risk coverage.

The increase in insurance and freight costs is roughly 0.20% of revenue, Hariharan said, adding Redington is passing on most of the added costs to customers.

Redington is also reworking its logistics network as disruptions around the Strait of Hormuz force it to route supplies via Saudi Arabia and Oman and rely more on road transport within the region.

"(For Apple), we picked up product from the Netherlands, brought it in by air and then we have distributed by road. The road seems safer," Hariharan said. Apple accounts for roughly a third of Redington's revenue.

Redington also counts Dell DELL.N, Samsung 005930.KS, Lenovo 0992.HK and HP HPQ.N among its vendors.

Though demand in the UAE and Saudi Arabia is down due to supply constraints and more cautious spending, Redington expects revenue to increase 10% to 15% in fiscal 2027, with profit growth broadly tracking topline gain.

(Reporting by Praveen Paramasivam in Chennai; Editing by Shailesh Kuber)

(([email protected]; +91 867-525-3569;))

** Shares of Redington REDI.NS down 4% to 223.6 rupees

** Co, which distributes Apple AAPL.O products, says its operations in the Gulf region have been restricted due to geo-political tensions

** Cites re-routing of shipments, need for increased working capital, increase in freight, insurance and logistics costs

** Co says it cannot reliably quantify the financial impact at this stage

** Stock set to fall for a fifth straight session

** YTD, REDI down ~18%

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

March 16 (Reuters) - Redington Ltd REDI.NS:

• GULF FZE OPERATIONS IN GULF REGION RESTRICTED DUE TO GEOPOLITICAL TENSIONS

• FINANCIAL IMPACT CANNOT BE RELIABLY QUANTIFIED AT THIS STAGE

• IMPLEMENTS ENHANCED SAFETY PROTOCOLS AND BUSINESS CONTINUITY PLANS

• WAR RISK COVERAGE REVOKED BY INSURERS; ALTERNATIVES BEING EVALUATED

Source text: ID:nNSE7b1sb7

Further company coverage: REDI.NS

(([email protected];;))

March 11 (Reuters) - Redington Ltd REDI.NS:

• RECEIVES FAVOURABLE ORDER QUASHING 2.30 BILLION RUPEES TAX DEMAND

Source text: ID:nNSEbprh5p

Further company coverage: REDI.NS

(([email protected];;))

Feb 4 (Reuters) - Redington Ltd REDI.NS:

• REDINGTON - DEC-QUARTER CONSOL NET PROFIT 4.36 BILLION RUPEES

• REDINGTON - DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 309.22 BILLION RUPEES

Source text: [ID:]

Further company coverage: REDI.NS

(([email protected];))

Dec 31 (Reuters) - Redington Ltd REDI.NS:

• RECEIVES TAX DEMAND ORDER FOR 1.48 BILLION RUPEES

Source text: ID:nNSE7p3hYg

Further company coverage: REDI.NS

(([email protected];;))

** Shares of Redington REDI.NS rise 25% this week; set for best weekly gains since May 2009

** Apple AAPL.O distributor's shares rise 6.5% after the launch of the iPhone 17 models in India at its store as investors bet on strong demand

** Under pressure from the Trump administration, Apple has boosted its already hefty investment in the U.S. in the hopes of sidestepping potential import duties

** It faces pressure from tariffs imposed on U.S. imports from countries including its production hubs, China and India

** REDI was up 15.5% on Tuesday after a block deal at premium of around 13% over its last close

** YTD, stock up ~54%

(Reporting by Urvi Dugar)

(([email protected]))

Corrects paragraph 1 in May 19 story to clarify Redington does not distribute Samsung products in India

May 19 (Reuters) - Redington REDI.NS, a distributor for Apple AAPL.O in India, reported an increase in adjusted quarterly profit, driven by higher demand for cloud services and automation.

The Chennai, Tamil Nadu-based company reported a profit before exceptional items and tax of 5.22 billion rupees ($61.14 million) for the fourth-quarter ended March 31, compared to 3.81 billion rupees last year.

It recorded a one-time gain worth 6.26 billion rupees from divestment of its Turkey-based unit Paynet.

Redington primarily generates revenue from the sale of smartphones, computers, and other hardware products.

However, its cloud and automation businesses saw the fastest growth on back of increased adoption of the technology.

About 50% of total IT spending globally is now cloud-related and it is projected to increase to 58% by 2027, according to research firm Gartner.

Redington's revenue from operations rose nearly 18% to 264.40 billion rupees, driven by deeper penetration in the South Asian markets and expansion in African markets.

Revenue from Singapore, India and the rest of South Asia, which account for nearly half of the company's business, increased by 25%.

($1 = 85.3730 Indian rupees)

(Reporting by Ananta Agarwal and Kashish Tandon in Bengaluru; Editing by Tasim Zahid)

(([email protected];))

April 15 (Reuters) - Redington Ltd REDI.NS:

• RAJAT VOHRA ELEVATED TO CEO – INDIA OPERATIONS

• SERKAN CELIK ELEVATED TO CEO – TURKEY, AFRICA AND EGYPT

• RAMESH NATARAJAN ELEVATED TO CEO – IME (INDIA AND MIDDLE EAST)

Source text: ID:nNSE4M5JHB

Further company coverage: REDI.NS

(([email protected];;))

March 25 (Reuters) - Redington Ltd REDI.NS:

• REDINGTON - GOT TAX DEMAND ORDER FOR 1.75 BILLION RUPEES

Source text: [ID:]

Further company coverage: REDI.NS

(([email protected];))

Feb 18 (Reuters) - Zaggle Prepaid Ocean Services Ltd ZAGG.NS:

• ZAGGLE PREPAID OCEAN SERVICES LTD - ENTERS AGREEMENT WITH REDINGTON

• ZAGGLE PREPAID OCEAN SERVICES LTD - GOOGLE TO PARTNER WITH ZAGGLE VIA REDINGTON

• ZAGGLE PREPAID OCEAN SERVICES LTD - CONTRACT TO BE EXECUTED OVER 5 YEARS

• ZAGGLE PREPAID OCEAN SERVICES - GOOGLE TO PARTNER WITH ZAGGLE VIA REDINGTON

Source text: ID:nNSE6qXvDN

Further company coverage: ZAGG.NS

(([email protected];))

** Shares of India's Redington REDI.NS up ~5% at 224 rupees

** Redington, a distributor for Apple AAPL.O and Samsung 005930.KS products, reported an 18% jump in quarterly profit and a 14% rise in revenue from ops

** Trading vols ~18 mln shares vs 30-day avg of 5.1 mln shares

** So far in 2025, REDI stock has climbed 12%

** Redington stock gained 13% last year

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Feb 5 (Reuters) - India's Redington REDI.NS reported an 18% jump in quarterly profit on Wednesday as the electronics distributor benefitted from steady demand for computers and mobile phones, its largest segments.

Demand for artificial intelligence-powered computers in the corporate and educational sectors as well as new smartphone launches have helped manufacturers and distributors weather inflation-driven choppy demand.

Redington, which is a distributor of Apple AAPL.O and Samsung 005930.KS products, reported a rise in profit to 4 billion rupees ($45.8 million) for the October-December quarter, from 3.41 billion rupees last year.

Its revenue from operations rose nearly 14% to 267.16 billion rupees, aided by a 9% growth in its mobile phones business and a 6% growth in the segment that distributes consumer and commercial computers.

Redington's technology solutions group posted a 28% rise in revenue, boosted by an increase in software spending.

The company has been expanding into new countries and sharpening its focus on its cloud services business to expand beyond gadget distribution, which currently brings in a bulk of its revenue.

($1 = 87.3660 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Sonia Cheema)

(([email protected]; +91 867-525-3569;))

Oct 29 (Reuters) - Redington Ltd REDI.NS:

• Q2 CONSOL NET PROFIT 2.93 BILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 248.96 BILLION RUPEES

Source text: [ID:]

Further company coverage: REDI.NS

(([email protected];;))

** Shares of Redington REDI.NS down 3.3% at 205 rupees, its biggest intraday pct loss since July 19

** IT products distributor posted a 1% fall in first-quarter profit

** Avg rating of 5 analysts covering the stock is "hold;" their median PT is 230 rupees - LSEG

** Stock up 16% YTD, after a 2% decline in 2023

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

July 31 (Reuters) - Redington Ltd REDI.NS:

• REDINGTON Q1 CONSOL NET PROFIT 2.46 BILLION RUPEES

• REDINGTON Q1 CONSOL REVENUE FROM OPERATIONS 212.82 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: REDI.NS

(([email protected];))

** Shares of Redington REDI.NS down 2.5% to 208.05 rupees

** Investec downgrades REDI stock to "hold" from "buy" and hikes PT to 225 rupees from 216 rupees

** Brokerage says weak macro in co's target markets could limit growth; says downgrade is more a function of the macro than REDI itself

** Says IT products distributor's factoring costs could continue to remain elevated in the near term

** Avg rating on REDI stock is "buy" and median PT is 225 rupees - LSEG data

** Co's Q4 profit had climbed marginally but rev missed estimates, leading to its stock dropping the next day

** Stock down 3.4% since reporting results on Wednesday

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

** Shares of Redington REDI.NS down 4.3% to 205.95 rupees

** IT products distributor's Q4 revenue inched up 2.7% YoY and missed estimates

** Stock set for worst day since Feb. 7 and on track to snap four-day winning run

** Smaller peers who both listed earlier this year Jyoti CNC Automation JYCA.NS and Rashi Peripherals RASI.NS yet to report results

** YTD, REDI up 16.4%

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

May 15 (Reuters) - Redington Ltd REDI.NS:

• REDINGTON MARCH-QUARTER CONSOL NET PROFIT 3.26 BILLION RUPEES; LSEG IBES PROFIT EST. 3.21 BILLION RUPEES

• REDINGTON MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 224.33 BILLION RUPEES; LSEG IBES EST. 239.08 BILLION RUPEES

• REDINGTON MARCH-QUARTER YEAR AGO CONSOL NET PROFIT 3.1 BILLION RUPEES, REVENUE 218.49 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: REDI.NS

(([email protected];))

April 5 (Reuters) - Redington Ltd REDI.NS:

• CO AND ZOHO PARTNER

Source text for Eikon: [ID:]

Further company coverage: REDI.NS

(([email protected];))

By Praveen Paramasivam

CHENNAI, Feb 15 (Reuters) - India's Redington REDI.NS expects demand for personal computers to bounce back next financial year as customers are likely to warm up to new devices with artificial intelligence features, a top executive at the tech goods distributor said.

Global PC sales are showing signs of recovery after inflation-hit customers delayed system upgrades for several quarters, results of chipmakers including Samsung Electronics 005930.KS and Intel INTC.O showed.

"The advent of AI, PCs will also drive tech refresh," Redington's Singapore, India and South Asia (SISA) CEO Ramesh Natarajan told Reuters, adding that he sees its PC business posting a single-digit percentage growth in fiscal 2025 in the region after reporting declines in the last six quarters.

AI-enabled PCs refer to machines that come with chips capable of running large-language models and apps powered by the technology directly on the device, instead of the cloud.

"Considering the replacement cycles for PCs have averaged around three to four years, we believe 2024 will be the year that will see some rebound," said Neil Shah, vice president of research at Counterpoint Research.

SISA revenue from Redington's end-point solutions unit, which distributes PCs and printers, fell 7% to 100.72 billion rupees ($1.21 billion) in the nine months ended Dec. 31.

The segment, which accounts for about 15% of the group's total revenue, had gained during the pandemic when businesses and individuals spent heavily to set up home offices. But many are yet to upgrade.

Natarajan also expects more growth in Redington's mobile phone business, which distributes smartphones from Apple, Google and others, as affluent Indians splurge on phones that cost more than 30,000 rupees ($361.30). The segment had seen a 61% revenue jump in the first nine months of fiscal 2024 in the SISA region.

Redington has been sharpening its focus on its cloud services business to expand beyond gadget distribution, which brings in a bulk of its revenue.

(Reporting by Praveen Paramasivam in Chennai; Editing by Dhanya Skariachan and Janane Venkatraman)

(([email protected]; +91 867-525-3569;))

** Shares of tech products distributor Redington REDI.NS fall ~7% to 193.80 rupees

** Co posts 10% drop in its Dec-qtr consolidated profit on sluggish gadgets demand

** Stock records steepest intraday fall in six months

** REDI set to snap seven-session winning streak

** Trading volume nearly twice the 30-day moving average

** Avg rating of five analysts on REDI at "buy" - LSEG data

** Stock trading ~8% below its median PT - LSEG

** REDI fell 2.2% in 2023, after rising for four straight years

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

CHENNAI, Feb 6 (Reuters) - Indian technology products distributor Redington REDI.NS reported a 10% decline in third-quarter profit on Tuesday, amid waning demand for electronic goods from individuals and businesses.

Persistent inflation has eroded household and corporate budgets globally, prompting consumers to cut back spending on newer models of gadgets, including laptops and personal computers.

The Apple and Samsung gadgets distributor said consolidated profit dropped to 3.41 billion rupees ($41.1 million) for the third quarter ended Dec. 31, according to an exchange filing.

Revenue from operations rose 8% to 235.05 billion rupees, marking its slowest growth and the first single-digit increase in two years. Total expenses climbed 9%, further eating into its earnings.

Redington, which has partnered with over 300 brands including Dell and Microsoft, had earlier said that elevated inflation and interest rates, as well as weaker currencies in certain countries pose challenges.

Shares of the Chennai, Tamil Nadu-based company closed 2% higher ahead of the results.

($1 = 83.0499 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Dhanya Ann Thoppil)

(([email protected]; +91 867-525-3569;))

Dec 29 (Reuters) - Redington Ltd REDI.NS:

• RECEIVED NOTICE OF DEMAND ALONG WITH ASSESSMENT ORDER FOR YEAR 2021-22 FROM INCOME TAX DEPARTMENT

• ORDER RAISING A DEMAND OF 1.36 BILLION RUPEES

• CO DOES NOT CONSIDER THAT DEMAND WILL DEVOLVE OR MATERIALISE AS A CLAIM AGAINST CO

• CO WILL BE CONTESTING THIS DEMAND BEFORE APPELLATE AUTHORITIES

Source text for Eikon: ID:nNSEbvZHFc

Further company coverage: REDI.NS

(([email protected];))

CHENNAI, Nov 6 (Reuters) - India's Redington REDI.NS reported a 22% decline in quarterly profit on Monday, as the technology gadgets distributor grappled with a global slowdown in demand and higher expenses.

Consolidated profit fell to 3.03 billion rupees ($36.42 million) in the second quarter from 3.87 billion rupees a year earlier.

Total expenses jumped nearly 18% for the quarter ended Sept. 30, Redington, which distributes products of several major brands including Apple AAPL.O and Samsung 005930.KS, said in an exchange filing.

Earnings dropped even as the Chennai, Tamil Nadu-based company tied up with more sales partners and expanded to more countries, which helped revenue from operations climb 16.6% to 222.20 billion rupees.

In the previous four quarters, Redington had reported revenue growth between 24.6% and 30.8%.

Revenue from its consumer and commercial personal computers, print and supplies business in Singapore, India and South Asia - markets that accounted for over 46% of its topline - declined 16% in the reported quarter.

A pandemic-led spurt in demand for consumer electronics including smartphones and laptops has slowed, squeezing the earnings of everyone from chipmaker Qualcomm QCOM.O and smartphone major Apple to distributors such as Redington.

However, Qualcomm and Apple recently indicated smartphone sales slump has finally started to ease, setting them up for better quarters ahead.

Redington has been investing heavily to beef up its cloud services business to expand beyond technology gadgets distribution, which brings in a bulk of its revenue and earnings.

The company's shares closed 2.3% higher ahead of the results. They are down nearly 19% for the year so far.

($1 = 83.1974 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Eileen Soreng)

(([email protected]; +91 867-525-3569;))

Aug 11 (Reuters) - Redington Ltd REDI.NS:

• RESIGNATION OF RAJIV SRIVASTAVA AS MD

Source text for Eikon: ID:nNSEbhvf6P

Further company coverage: REDI.NS

(([email protected];))

** Shares of India's Redington REDI.NS down as much as 5.49% at 173.15 rupees - lowest since June 1

** The IT products distributor posted 21% profit drop on mounting expenses while revenue rose 26%

** Co shares hovering around 50-day and 100-day simple moving averages

** More than 1.27 mln shares changed hands by 9:40 a.m. IST, 0.8X 30-day avg

** Five out of 6 analysts rate the stock "buy" or higher, 1 suggest "hold"; median TP 207.5 rupees - Refinitiv IBES data

** Including session's losses, stock has fallen more than 2% so far this year

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Aug 1 (Reuters) - Redington Ltd REDI.NS:

• JUNE-QUARTER CONSOL NET PROFIT 2.49 BILLION RUPEES VERSUS 3.16 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 211.87 BILLION RUPEES VERSUS 168.03 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: REDI.NS

(([email protected];))

MUMBAI, June 5 (Reuters) - India's Redington REDI.NS plans to raise funds through a sale of commercial papers maturing in three months, at a yield of 7.15%, three merchant bankers said.

Below is the list of deals reported so far on June 5

($1 = 82.6700 Indian rupees)

(Reporting by Dharamraj Dhutia)

(([email protected]))