Redtape Ltd
India's trusted leading Fashion & Lifestyle brand with over 390+ 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 ₹ 10,656 Cr.
- Current Price ₹ 771
- High / Low ₹ 810 / 411
- Stock P/E 60.5
- Book Value ₹ 46.9
- Dividend Yield 0.00 %
- ROCE 31.9 %
- 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 159 days to 87.0 days
Cons
- Stock is trading at 16.4 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| 303 | 1,468 | 1,843 | |
| 256 | 1,224 | 1,528 | |
| Operating Profit | 47 | 244 | 315 |
| OPM % | 16% | 17% | 17% |
| -0 | 7 | 13 | |
| Interest | 4 | 17 | 33 |
| Depreciation | 2 | 44 | 59 |
| Profit before tax | 41 | 189 | 236 |
| Tax % | 29% | 25% | 25% |
| 29 | 142 | 176 | |
| EPS in Rs | 10.29 | 12.75 | |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
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| TTM: | 26% |
| Compounded Profit Growth | |
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| TTM: | 24% |
| Stock Price CAGR | |
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| Return on Equity | |
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| Last Year: | 31% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| Equity Capital | 0 | 28 | 28 |
| Reserves | 336 | 449 | 621 |
| Preference Capital | 0 | 0 | |
| 28 | 81 | 480 | |
| 461 | 681 | 460 | |
| Total Liabilities | 826 | 1,239 | 1,588 |
| 304 | 368 | 655 | |
| CWIP | 17 | 71 | 9 |
| Investments | 1 | 1 | 0 |
| 504 | 799 | 925 | |
| Total Assets | 826 | 1,239 | 1,588 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| 44 | 124 | 82 | |
| -49 | -147 | -115 | |
| -17 | 35 | 26 | |
| Net Cash Flow | -22 | 12 | -7 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| Debtor Days | 68 | 21 | 18 |
| Inventory Days | 963 | 299 | 294 |
| Days Payable | 407 | 160 | 106 |
| Cash Conversion Cycle | 623 | 160 | 206 |
| Working Capital Days | 299 | 90 | 87 |
| ROCE % | 45% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Change in Management
28 Jun - On June 28, 2024, has granted the approval for the appointment of Mr. Vivek Agnihotri as Vice President of Banking and Finance Operations, with the …
- Closure of Trading Window 26 Jun
- Intimation To The Shareholders Regarding Choice Of Nomination In Eligible Demat Account As Per SEBI Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/81 Dated June 10, 2024 25 Jun
- Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 (The ''Listing Regulations'') - Commencement Of Online Operational Activity From It''s New Warehouse At Howrah, West Bengal. 12 Jun
- Intimation Sent To Shareholders For Furnishing Of PAN, KYC And Nomination Details, Respectively. 7 Jun
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.