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 ₹ 11,448 Cr.
- Current Price ₹ 828
- High / Low ₹ 982 / 437
- Stock P/E 72.7
- Book Value ₹ 50.9
- Dividend Yield 0.00 %
- ROCE 29.3 %
- ROE 31.3 %
- Face Value ₹ 2.00
Pros
- Debtor days have improved from 35.5 to 18.0 days.
- Company's working capital requirements have reduced from 150 days to 87.0 days
Cons
- Stock is trading at 16.3 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
* 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 Nifty Microcap 250 Nifty Total Market BSE SmallCap BSE Allcap BSE Consumer Discretionary
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|
| 303 | 1,468 | 1,843 | 1,984 | |
| 256 | 1,224 | 1,524 | 1,670 | |
| Operating Profit | 47 | 244 | 319 | 314 |
| OPM % | 16% | 17% | 17% | 16% |
| -0 | 7 | 13 | 12 | |
| Interest | 4 | 17 | 37 | 42 |
| Depreciation | 2 | 44 | 59 | 72 |
| Profit before tax | 41 | 189 | 236 | 213 |
| Tax % | 29% | 25% | 25% | |
| 29 | 142 | 176 | 157 | |
| EPS in Rs | 10.29 | 12.75 | 11.39 | |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 26% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 72% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 31% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|
| Equity Capital | 0.01 | 28 | 28 | 28 |
| Reserves | 336 | 449 | 621 | 676 |
| 28 | 260 | 480 | 651 | |
| 461 | 502 | 460 | 503 | |
| Total Liabilities | 826 | 1,239 | 1,588 | 1,857 |
| 304 | 368 | 646 | 755 | |
| CWIP | 17 | 71 | 17 | 6 |
| Investments | 1 | 1 | 0 | 0 |
| 504 | 799 | 925 | 1,097 | |
| Total Assets | 826 | 1,239 | 1,588 | 1,857 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| 44 | 127 | 84 | |
| -49 | -127 | -116 | |
| -17 | 12 | 26 | |
| Net Cash Flow | -22 | 12 | -5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| Debtor Days | 68 | 21 | 18 |
| Inventory Days | 963 | 308 | 298 |
| Days Payable | 407 | 164 | 108 |
| Cash Conversion Cycle | 623 | 164 | 208 |
| Working Capital Days | 299 | 65 | 87 |
| ROCE % | 37% | 29% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Nov - Newspaper Advertisement - Unaudited Standalone and Consolidated Financial Results for the 2nd Quarter and Half Year ended September 30, 2024
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Submission Of Unaudited Standalone And Consolidated Financial Results For Quarter And Half Year Ended 30Th September 2024
13 Nov - Approval of unaudited financial results for Q2 2024.
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Board Meeting Outcome for Submission Of Unaudited Standalone And Consolidated Financial Results For The 2Nd Quarter And Half Year Ended 30Th September 2024
13 Nov - Approval of unaudited financial results for Q2 2024.
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Board Meeting Intimation for Intimation Of Board Meeting Scheduled To Be Held On Wednesday, 13Th November, 2024 For 2Nd Quarter And Half Year Ended On 30Th September, 2024
8 Nov - Board meeting to approve Q2 financial results.
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Compliance Status Of Regulation 6(1) And 7(1) Of SEBI (LODR) Regulations, 2015, As Amended, For The Quarter Ended September 30, 2024
17 Oct - Compliance with SEBI regulations 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.