Redington Limited has announced its audited financial results for the quarter and year ended March 31, 2026, reporting record annual revenue and strong quarterly growth. The Board of Directors, at their meeting held on May 13, 2026, approved the standalone and consolidated financial results audited by Deloitte Haskins & Sells, Chartered Accountants, who issued an unmodified opinion. The company delivered global consolidated revenue of ₹33,269 crore for Q4 FY26, representing a year-on-year increase of 25%. For the full fiscal year FY26, consolidated revenue reached ₹1,19,347 crore, growing 20% year-on-year. The Board has recommended a final dividend of ₹6 per equity share of ₹2 each (300% of face value) for the financial year 2025-26, subject to shareholder approval at the ensuing Annual General Meeting.
Q4 FY26 Consolidated Financial Performance
The company reported a consolidated net profit of ₹467 crore for Q4 FY26, excluding exceptional items, with a net profit margin of 1.40%. The quarter reflected strong performance particularly in India, where revenue grew 50% and net profit grew 41%, fueled by increased demand in the PC business, large enterprise deals, and cloud and cybersecurity offerings. The following table summarises the key consolidated financial highlights for the quarter:
| Metric: |
Q4 FY26 |
Q4 FY25 |
Change (YoY) |
| Revenue |
₹33,269 crore |
₹26,440 crore |
+25% |
| Net Profit |
₹467 crore |
₹391 crore |
+16% |
| Net Profit Margin |
1.40% |
1.50% |
-10 bps |
While revenue grew substantially year-on-year, the net profit margin saw a slight contraction compared to the previous year. The consolidated profit before exceptional item and tax for Q4 FY26 stood at ₹547.53 crore, compared to ₹522.37 crore in Q4 FY25. An exceptional item of ₹(152.31) crore was recognised during the quarter, representing an impairment of the trade name intangible asset of Redington Gulf FZE's subsidiary Arena Bilgisayar Sanayi Ve Ticaret A.S in Turkey, based on challenging economic conditions and revised future projections. The impact on consolidated PAT after non-controlling interests was ₹75.24 crore.
Standalone Financial Performance
On a standalone basis, Redington reported revenue from operations of ₹19,587.44 crore for Q4 FY26, compared to ₹13,121.36 crore in Q4 FY25. The standalone profit before tax for Q4 FY26 was ₹388.67 crore, and profit for the quarter was ₹288.55 crore. For the full year, standalone revenue from operations was ₹63,801.19 crore versus ₹48,902.50 crore in FY25. The key standalone financial metrics are presented below (₹ in crore):
| Metric: |
Q4 FY26 |
Q4 FY25 |
FY26 |
FY25 |
| Revenue from Operations |
19,587.44 |
13,121.36 |
63,801.19 |
48,902.50 |
| Profit Before Tax |
388.67 |
276.08 |
1,571.06 |
1,698.21 |
| Profit for the Period |
288.55 |
209.45 |
1,243.90 |
1,443.76 |
| Basic EPS (₹) |
3.69 |
2.68 |
15.91 |
18.47 |
| Diluted EPS (₹) |
3.69 |
2.68 |
15.91 |
18.47 |
The standalone net worth as at March 31, 2026, stood at ₹5,302.89 crore, with equity share capital of ₹156.35 crore and other equity of ₹5,146.54 crore. Key standalone financial ratios for the year include a debt equity ratio of 0.29 times, current ratio of 1.34 times, operating margin of 2.16%, and net profit margin of 1.47%.
Q4 FY26 Vertical Performance — SISA vs ROW
The investor presentation provided a detailed breakdown of Q4 FY26 revenue across business verticals for the SISA (South Asia including India and South Asia) and ROW (Rest of World, primarily MEA) geographies. The table below presents the segment-wise performance (₹ in crore):
| Vertical: |
SISA Q4 FY25 |
SISA Q4 FY26 |
SISA YoY |
ROW Q4 FY25 |
ROW Q4 FY26 |
ROW YoY |
Global Q4 FY25 |
Global Q4 FY26 |
Global YoY |
| ESG |
3,991 |
5,839 |
+46% |
3,854 |
4,175 |
+8% |
7,845 |
10,014 |
+28% |
| TSG |
2,957 |
4,267 |
+44% |
1,709 |
1,981 |
+16% |
4,666 |
6,248 |
+34% |
| SSG |
1,943 |
2,513 |
+29% |
2,345 |
3,084 |
+32% |
4,289 |
5,597 |
+31% |
| MSG |
4,411 |
7,184 |
+63% |
4,933 |
3,930 |
-20% |
9,345 |
11,115 |
+19% |
| Renewable Energy |
43 |
29 |
-32% |
2 |
3 |
+19% |
45 |
32 |
-29% |
| Logistics |
156 |
192 |
+23% |
91 |
107 |
+19% |
247 |
300 |
+22% |
| Other Services |
21 |
21 |
0% |
140 |
48 |
-65% |
161 |
69 |
-57% |
The SISA region was the primary growth engine in Q4 FY26, with the Mobility Solutions Group (MSG) surging 63% and the End Point Solutions Group (ESG) rising 46% year-on-year. The Technology Solutions Group (TSG) also delivered strong SISA growth of 44%. In the ROW segment, MSG declined 20% year-on-year, while SSG grew 32%, reflecting divergent trends across geographies.
Full Year FY26 Vertical Performance
For the full fiscal year FY26, all major verticals reported growth at the global level. The annual segment-wise breakdown (₹ in crore) is presented below:
| Vertical: |
SISA FY25 |
SISA FY26 |
SISA YoY |
ROW FY25 |
ROW FY26 |
ROW YoY |
Global FY25 |
Global FY26 |
Global YoY |
| ESG |
15,613 |
19,825 |
+27% |
16,183 |
17,003 |
+5% |
31,796 |
36,828 |
+16% |
| TSG |
11,061 |
12,625 |
+14% |
6,022 |
6,670 |
+11% |
17,084 |
19,295 |
+13% |
| SSG |
6,283 |
8,737 |
+39% |
8,145 |
11,096 |
+36% |
14,428 |
19,834 |
+37% |
| MSG |
16,543 |
23,267 |
+41% |
17,864 |
19,018 |
+6% |
34,407 |
42,285 |
+23% |
| Renewable Energy |
126 |
96 |
-24% |
28 |
7 |
-73% |
154 |
103 |
-33% |
| Logistics |
584 |
689 |
+18% |
382 |
410 |
+7% |
967 |
1,098 |
+14% |
| Other Services |
83 |
83 |
-1% |
997 |
212 |
-79% |
1,080 |
295 |
-73% |
The Software Solutions Group (SSG) was the standout performer for the full year, growing 37% globally, driven by cloud, cybersecurity, and software licensing adoption across both SISA and ROW. MSG recorded the highest absolute revenue at the global level, reaching ₹42,285 crore for FY26, up 23% year-on-year.
Consolidated Balance Sheet Highlights
As at March 31, 2026, consolidated total assets stood at ₹33,838.94 crore, compared to ₹27,584.17 crore as at March 31, 2025. Total equity (including non-controlling interests) was ₹10,423.98 crore. The key balance sheet metrics are summarised below (₹ in crore):
| Particulars: |
March 31, 2026 |
March 31, 2025 |
| Total Non-Current Assets |
1,310.40 |
1,358.66 |
| Total Current Assets |
32,528.54 |
26,225.51 |
| Total Assets |
33,838.94 |
27,584.17 |
| Equity (Shareholders of Company) |
10,160.73 |
8,721.04 |
| Non-Controlling Interests |
263.25 |
476.16 |
| Total Equity |
10,423.98 |
9,197.20 |
| Total Non-Current Liabilities |
398.37 |
365.36 |
| Total Current Liabilities |
23,016.59 |
18,021.61 |
| Total Liabilities |
23,414.96 |
18,386.97 |
Consolidated trade receivables stood at ₹21,569.46 crore as at March 31, 2026, while inventories were ₹8,170.70 crore. Cash and cash equivalents on the consolidated balance sheet were ₹1,109.76 crore. The consolidated basic and diluted EPS for FY26 was ₹19.06, compared to ₹20.53 in FY25.
Cash Flow Performance
The investor presentation disclosed cash flow details for Q4 FY26 and the full fiscal year. For Q4 FY26, net cash flow from operations stood at ₹(883) crore, compared to ₹463 crore in Q3 FY26 and ₹202 crore in Q4 FY25, reflecting a significant increase in working capital requirements. Free cash flow for Q4 FY26 was ₹(999) crore. The quarterly cash flow details are presented below (₹ in crore):
| Particulars: |
Q4 FY25 |
Q3 FY26 |
Q4 FY26 |
| Profit Before Taxation |
1,148 |
538 |
395 |
| Non-cash Items |
(525) |
129 |
257 |
| Finance Cost |
82 |
79 |
72 |
| Changes in Working Capital |
(361) |
(117) |
(1,465) |
| Direct Tax Paid |
(141) |
(165) |
(142) |
| Net Cash Flow from Operations |
202 |
463 |
(883) |
| Capex |
(82) |
(112) |
(48) |
| Outflow of Finance Cost |
(87) |
(134) |
(69) |
| Free Cash Flow |
34 |
217 |
(999) |
For the full fiscal year, consolidated net cash generated from operating activities was ₹231.35 crore in FY26, compared to ₹292.62 crore in FY25. The annual consolidated cash flow summary is as follows (₹ in crore):
| Particulars: |
FY26 |
FY25 |
| Profit Before Tax |
1,697.09 |
2,334.81 |
| Cash Generated from Operating Activities |
745.73 |
817.15 |
| Income Taxes Paid (net) |
(514.38) |
(524.53) |
| Net Cash from Operating Activities |
231.35 |
292.62 |
| Net Cash from / (used in) Investing Activities |
(10.40) |
559.86 |
| Net Cash used in Financing Activities |
(999.48) |
(1,171.10) |
Board Decisions and Corporate Governance
The Board of Directors at their meeting held on May 13, 2026, recommended a final dividend of ₹6 per equity share of ₹2 each (300% of face value) for the financial year 2025-26, subject to the approval of members at the ensuing Annual General Meeting. The company has fixed Friday, July 03, 2026, as the Record Date for determining eligibility for the dividend. The thirty-third AGM of the company will be held on Wednesday, July 29, 2026, through Video Conferencing/Other Audio-Visual Means. Additionally, the Board approved the re-appointment of Mr. S V Krishnan as Whole-time Director and Finance Director for a period of five years effective from May 13, 2026, to May 12, 2031, subject to shareholder approval. Mr. S V Krishnan is a Chartered Accountant, Cost Accountant, and Company Secretary who has been with Redington since 1998 and was adjudged as "the Great Indian CFO Leader of the Year – IT Sector" award for the year 2024 by Transformance Group.
Corporate Developments
During the quarter ended March 31, 2026, several notable corporate developments took place. Redington International Mauritius Ltd, a wholly owned subsidiary, completed its re-domiciliation from Mauritius to the United Arab Emirates in line with the Group's strategic objectives, with no change in ultimate ownership or control. Arena Mobile İletişim Hizmetleri ve Tüketici Elektroniği Sanayi ve Ticaret A.Ş was merged with Arena Connect Teknoloji Sanayi ve Ticaret A.Ş, the subsisting entity, effective February 09, 2026, as part of an internal restructuring of the Turkey-based step-down subsidiary Arena Bilgisayar. Additionally, Redington Kenya (EPZ) Limited was dissolved with effect from January 28, 2026. The company continues to assess the evolving situation in the Middle East to mitigate any prospective risks to its global footprint and does not foresee any material adverse effects on its financial position resulting from the geo-political conflict.
Business Segment Overview
Redington's portfolio spans six key business verticals, each serving distinct technology distribution needs:
- ESG (End Point Solutions Group): Consumer and commercial PCs, print and supplies
- TSG (Technology Solutions Group): Networking, server and storage, power and collaboration
- MSG (Mobility Solutions Group): Smartphones and feature phones
- SSG (Software Solutions Group): Cloud and professional services, software licensing and subscription, enterprise security solutions
- Renewable Energy: Solar panels and inverters
- Logistics (ProConnect Supply Chain Solutions): Logistics, warehousing, transportation and value-added services
Outlook
Management attributed the growth to the company's evolution from a traditional distributor to a technology solutions orchestrator. Redington remains focused on expanding market reach, deepening partner engagement, and building capabilities in AI-led infrastructure and digital services. The company continues to monitor geopolitical developments to maintain operational resilience.