Get App
Last Updated : Jun 18, 2019 03:38 PM IST | Source:

Buy Redington (India); target of Rs 114: Prabhudas Lilladher

Prabhudas Lilladher is bullish on Redington (India) has recommended buy rating on the stock with a target price of Rs 114 in its research report May 27, 2019.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

Prabhudas Lilladher's research report on Redington (India)

Redington delivered strong result in Q4FY19 with broad based growth across segments, better operational performance led to expansion in margins and PAT. Both India business and oversees business delivered strong growth in FY19. Management is focused on growing its earnings in double digit in FY20E. In India, IT Enterprise and Mobility is expected to post double digit growth. In India segment, revenue growth might be lower for Q1/Q2 quarters given the general slowdown in the economy; however, Q3 onwards growth is expected to pick-up. From a revenue perspective, India should be able to post better growth versus overseas. With Redington India business showing strong growth & good performance from overseas, we believe Redington is in a comfortable position to deliver sustained earnings growth in FY20E.


We maintain our buy rating with revised TP of Rs114 (7x FY21E EPS). Currently, Redington trades at 7.2x/6.1x FY20E/21E at an EPS of Rs13.8/Rs.16.2 for FY20E/21E respectively. Currency movements in overseas market remains a key risk to Redington.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jun 18, 2019 03:38 pm
Follow us on
Available On