Redtape Ltd
India's trusted leading Fashion & Lifestyle brand with over 435+ opulent stores across PAN India. RedTape is known for emerging as one of the Finest Brands of Footwear and Clothing for Men, Women and Kids. It has emerged as a complete Family Fashion Destination by providing the Best International Styles and World-Class Quality through Shoes, Apparels and Accessories for all age groups.
It was demerged from Mirza International in 2023. [1]
- Market Cap ₹ 7,911 Cr.
- Current Price ₹ 143
- High / Low ₹ 245 / 131
- Stock P/E 46.9
- Book Value ₹ 12.5
- Dividend Yield 0.34 %
- ROCE 28.7 %
- ROE 30.9 %
- Face Value ₹ 2.00
Pros
- Debtor days have improved from 36.0 to 18.0 days.
- Company's working capital requirements have reduced from 165 days to 86.9 days
Cons
- Stock is trading at 11.7 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Retail Industry: Trading
Part of BSE Allcap BSE Consumer Discretionary BSE SmallCap Nifty Microcap 250 Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|
| 297 | 1,459 | 1,832 | 2,026 | |
| 255 | 1,222 | 1,522 | 1,691 | |
| Operating Profit | 42 | 236 | 310 | 336 |
| OPM % | 14% | 16% | 17% | 17% |
| 0 | 7 | 13 | 14 | |
| Interest | 4 | 17 | 37 | 45 |
| Depreciation | 2 | 44 | 59 | 77 |
| Profit before tax | 36 | 181 | 227 | 228 |
| Tax % | 29% | 25% | 25% | |
| 25 | 136 | 170 | 169 | |
| EPS in Rs | 2.46 | 3.07 | 3.05 | |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 19% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -14% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 31% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|
| Equity Capital | 0.01 | 28 | 28 | 28 |
| Reserves | 332 | 438 | 605 | 661 |
| 187 | 260 | 479 | 650 | |
| 299 | 501 | 458 | 502 | |
| Total Liabilities | 818 | 1,227 | 1,569 | 1,842 |
| 303 | 368 | 645 | 753 | |
| CWIP | 17 | 71 | 17 | 6 |
| Investments | 1 | 1 | 0 | 0 |
| 497 | 787 | 907 | 1,082 | |
| Total Assets | 818 | 1,227 | 1,569 | 1,842 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| 17 | 111 | 82 | |
| -22 | -116 | -115 | |
| -24 | 12 | 26 | |
| Net Cash Flow | -28 | 7 | -7 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| Debtor Days | 69 | 21 | 18 |
| Inventory Days | 962 | 308 | 296 |
| Days Payable | 407 | 164 | 107 |
| Cash Conversion Cycle | 624 | 164 | 207 |
| Working Capital Days | 343 | 66 | 87 |
| ROCE % | 32% | 29% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Cessation
28 Mar - Resignation of Vice-President - Marketing & Sales effective March 31, 2025.
-
Announcement under Regulation 30 (LODR)-Change in Management
28 Mar - Resignation of Vice-President - Marketing & Sales effective March 31, 2025.
- Closure of Trading Window 26 Mar
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
13 Feb - Newspaper Publication of Unaudited Financial Statements for Quarter ended 31st December 2024
-
Integrated Filing (Financial)
12 Feb - Integrated filing of financial results for Q3 2024.
About[1]
REDTAPE has a strong brand recall of 26+ yrs. It emerged as the first Indian footwear brand in 1996 to have a strong presence in global markets like UK. The company entered into men’s clothing and accessory in 2006. Today, it also caters to the fashion needs in female and kids clothing and accessory category.