Redington India Q1 Review - Robust Quarter: Prabhudas Lilladher
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Prabhudas Lilladher Report
Redington India Ltd. delivered strong growth of 26% YoY led by India business (57% YoY).
Overseas business also grew at healthy rate of 10.4% YoY despite decline in South Asia (down 38% YoY) offset by strong growth in Middle-East, Turkey, Africa (16% YoY).
Growth in consumer IT was strong across India (triple digit growth) as well as overseas (up 27% YoY) fueled by work-from-home and learn-from-home demand.
Despite ongoing supply shortage (due to semiconductor chip shortage), Redington is able to source largest share of inventory allocated to India and META region thus gaining significant market share.
Management expects revenue to grow in double digits with consumer IT to grow faster than enterprise IT and mobility to grow faster than IT.
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