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July 2016
Disclaimer
This presentation contains forward looking statements including, but without limitation, statements relating to
the implementation of strategic initiatives, and other statements relating to Redington India Limiteds future
business developments and economic performance.
While these forward looking statements indicate our assessment and future expectations concerning the
development of our business, a number of risks, uncertainties and other unknown factors could cause actual
developments and results to differ materially from our expectations.
These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends,
movements in currency exchange and interest rates, competitive pressures, technological developments, changes in
the financial conditions of third parties dealing with us, legislative developments, and other key factors that could
affect our business and financial performance.
Redington India Limited undertakes no obligation to periodically revise any forward looking statements to reflect
future / likely events or circumstances.
Q1FY17 Highlights
REVENUE
PAT
11%
27%
13%
931
1,827
96,413
75,795
822
1,650
Q1FY16
Q1FY17
Q1FY16
Q1FY17
Q1FY16
Q1FY17
5
REVENUE
PAT
27%
13%
96,412.8
930.7
822.1
75,794.5
19%
32%
444.2
373.9
58,571.2
44,518.9
448.2
21%
31,275.6
37,841.6
Q1FY16
Q1FY17
INDIA
OVERSEAS
Q1FY16
INDIA
9%
486.5
Q1FY17
OVERSEAS
2%
31%
SERVICES
NON-IT
77%
67%
IT
Q1FY16
Q1FY17
7
Inventory days
Debtor days
58
57
39
Creditor days
38
Q1 FY16
53
36
51
38
Q1FY17
Dividend
Outflow of Finance Cost
Free Cashflow
in million
Q1 FY17
Q1 FY16
1,320.1
1,138.0
224.7
247.2
1,138.7
-3,328.6
-446.8
-301.5
325.6
358.7
2,562.2
-1,886.2
-111.3
-65.6
0.1
-60.4
-325.6
-358.7
2,125.4
-2,370.9
49%
8%
6%
9%
44%
5%
6%
7%
HP Ent
SAMSUNG
LENOVO
16%
HP Inc
18%
22%
11%
Q1FY16
APPLE
Q1FY17
10
Q1FY17 Performance
EBIDTA
REVENUE
53%
36%
68.0
348.7
38.4
256.0
26.1
44.4
Q1FY16
Q1FY17
Q1FY16
Q1FY17
Q1FY16
Q1FY17
11
Year Ended
Quarter Ended
Consolidated
Quarter Ended
8,115
42,566
Year Ended
Unaudited
Net Profit After Tax under Previous Indian GAAP
Effect on account of Merger of Nook Micro Distribution
Limited (Refer Note 7)
Adjusted Net Profit After Tax under Previous
Indian GAAP
3,995
641
4,636
4,196
(267)
3,929
18,890
13,756
(472)
18,890
13,284
182
8,297
42,566
IND AS Adjustments
Actuarial (gain) /loss on employee
defined benefit funds reclassified
to other comprehensive income
Effect on account of Business combinations prior to
transition date
Tax Adjustments
Other Adjustments
Net Profit for the Period under IND AS
Other Comprehensive income (net of tax)
Total Comprehensive income under IND AS
attributable to Shareholders
33
(7)
(9)
(22)
4,638
(33)
4,605
2
-
(31)
(39)
(39)
(62)
(36)
(172)
12
14
21
(15)
(14)
(44)
(18)
3,924
18,872
13,188
8,222
42,332
137
2,539
9,381
3,933
18,879
13,325
10,761
51,713
12
CIN - L52599TN1961PLC028758
Investor Contacts
M. Muthukumarasamy
Compliance Officer
Redington (India) Limited
SPL Guindy House, 95 Mount Road,
Guindy, Chennai 600 032
https://www.redingtonindia.com
Corporate Presentation
https://redingtonindia.com/images/Redingtoncorporatepresentationjuly2016.pdf
July 2016
About Us
Subsidiaries
Performance
Competition
Our Vision
Our Mission
To grow through
innovation
nimble adaptation to change
prudent risk management
Our Business
DISTRIBUTION
IT Consumer
IT - Enterprise
Commercial PCs,
Printers
Tablets
Printer & Supplies
Gaming Consoles
Telco
Smartphones
Feature phones
LOGISTICS
SUPPORT SERVICES
Verticals
Offerings
Warehousing
Transportation
Hardware &
Software support
Services
Import Clearance
In-plant
Management
ICT Infrastructure
Reverse Logistics
Managed Services
Networking
Power Products &
Audio Visual
Digital Printing
Press
NETWORKING
IT BRANDS
TELCO BRANDS
COMPONENTS
MOBILE
ENTERPRISE
SYSTEMS
SOFTWARE
4 ~ 6 % Margin
CHANNELS
PROCUREMENT
Online, Retail
Chain/LFRs,
Dealer, VAR/
System Integrator
Manufacturers
&
Brand owners
Distribution
Warehousing
& Logistics
Credit to
Resellers
CUSTOMER
End User, SMB,
Corporate, Govt
After Sales
Service
Srilanka
Singapore
Bangladesh
MIDDLE EAST
AFRICA
TURKEY
Bahrain
Egypt
Nigeria
Oman
Ghana
Rwanda
Qatar
Kazakshtan
Saudi Arabia
Kenya
UAE
Libya
Iraq*
Morocco
Turkey
Senegal
S.Africa
Tanzania
Uganda
Angola*
6 Subsidiaries
18 Subsidiaries
22 Subsidiaries
6 Subsidiaries
* Yet to commence operations
Our network
META & CIS
SOUTH ASIA
Channel Partners
11,000
29,595
Sales Offices
27
52
Warehouses
26
93
Service Centres
25
51
25
278
8
About Us
Subsidiaries
Performance
Competition
Snapshot
About
ProConnect
Management
Integrated Logistics
services provider
Professionally managed
Board
Dedicated senior
management team
1500+ work force
Industries
Catered
IT | Pharma & Office
automation| FMCG | Telecom
& Infrastructure | Chemicals &
Plants | Beverages| Consumer
Durables | Electrical &
Electronics | Engineering |
Garments | Education | E-Com
Services
Offered
Warehousing
Transportation
Import Clearance
Reverse Logistics
In-plant management
Infrastructure
93 Warehouses across
India
2 ADCs Chennai &
Kolkatta
1.8 Mio sq ft
warehousing space
Capabilities
Handling
180 Lakh transactions
1.5 lakh tonnes of weight
annually
35,000 delivery locations
4,000 pin codes across
India
10
CHENNAI
Chennai
Kolkata
Dubai
Capacity 94,723 sq ft
* Long lease
47%
53%
38.4
36%
68.0
PAT
348.7
EBITDA
Revenue
Redington
Outside Biz
26%
30%
29%
32%
38%
48%
53%
53%
52%
74%
70%
71%
68%
62%
52%
47%
47%
48%
12
80 Customers
IT
Telecom &
Infrastructure
Consumer
Durables
Electrical &
Electronics
Chemicals
Engineering
e commerce
Office
Automation
Pharmaceutical
FMCG
4PL
Garments
Retail
13
Snapshot - Turkey
About Arena
Acquisition
14
About Us
Subsidiaries
Performance
Competition
15
Board of Directors
Independent Directors
Prof. Ramachandran
Chairman
Professor Corporate Policy
& Strategy IIM, Bangalore
V. S. Hariharan
Ex. V.P Hewlett-Packard
Singapore
Keith WF Bradley
Ex.President Ingram Micro
North America
Executive Directors
Suchitra Rajagopalan
Director
Corporate Governance
Volvo, UK
Raj Shankar
Managing Director
E H Kasturi Rangan
Whole time Director
Non-Executive Directors
R Srinivasan
Vice Chairman
R Jayachandran
Ex-Chairman
Olam International
Singapore
Tu, Shu-Chyuan
General Manager
Business Development
Synnex Tech, Taiwan
Lin, Tai-Yang
Director of Finance Planning
and Management
Synnex Tech, Taiwan
Nainesh Jaisingh
MD & Global Co-Head
Standard Chartered
Private Equity, Singapore
B Ramaratnam
Professional Director
16
P S Neogi
Joint COO- IT
Division, India
Ramesh Natarajan
Dr. R. Arunachalam
Senior President
India
S V Krishnan
CFO, India
Stephen Aranha
President
Ensure Service , India
Ashish Bharti
Aloysius Fernandes
B Ramkumar
President
IT Volume Distribution,
ME
Jim Mathew
Sriram Ganeshan
S Sethuraman
President
IT Volume, Africa
President
IT Value Added Distribution
ME & A
VP
Telco Distribution
Africa
CFO
ME & A
Sr. VP
Support Services /
Ensure Services, ME & A
Okay Nasir,
Serkan Celik,
CEO Arena,
Turkey
CFO Arena,
Turkey
17
About Us
Subsidiaries
Performance
Competition
18
Financial Snapshot
` in million
CAGR
17%
PAT
8,176
7,619
7,196
6,842
4,257
CAGR
17%
3,865
3,367
3,231
6,334
2,927
4,717
96,413
2,80,051
2,42,104
2,12,220
1,67,227
1,32,777
1,23,760
1,05,425
88,539
CAGR
17%
3,54,762
EBIDTA
3,16,227
REVENUE
2,260
1,843
3,657
3,296
1,597
1,361
2,590
1,985
1,827
1,017
931
*Post acquisition of following entities - FY08 Easyaccess Financials Services Ltd,FY11 Arena. ^ Post sale of Easyaccess financial services .
CAGR computed for full year
19
Consolidated Financials
Particulars
Q1 FY17
Total Revenue
FY16
` in million
FY15
FY14^
FY 13
FY 12
FY 11*
FY 10
FY 09
FY 08*
FY 07
96,413
354,762
3,16,227
2,80,051
2,42,104
2,12,220
1,67,227
1,32,777
1,23,760
1,05,425
88,539
1,827
8,175
7,619
7,196
6,842
6,334
4,717
3,657
3,296
2,590
1,985
931
4,257
3,865
3,367
3,231
2,927
2,260
1,843
1,597
1,361
1,017
Networth
30,677
27,874
23,742
20,213
16,407
13,225
12,553
10,757
10,022
7,215
6,256
Capital Employed
60,664
53,884
44,468
39,938
39,471
34,776
31,863
24,649
22,265
15,054
12,269
EBITDA Margins
1.9%
2.3%
2.4%
2.6%
2.8%
3.0%
2.8%
2.8%
2.7%
2.5%
2.3%
PAT Margins
1.0%
1.2%
1.2%
1.2%
1.3%
1.4%
1.4%
1.4%
1.3%
1.3%
1.2%
Return on Avg.
Capital Employed
11.6%
16.0%
17.2%
17.2%
17.7%
18.4%
16.0%
14.6%
18.5%
18.9%
18.2%
Return on Avg.
Equity
12.5%
17.1%
18.2%
19.1%
22.8%
23.9%
20.0%
17.7%
19.0%
21.7%
21.2%
2.3
10.6
9.7
8.4
8.1
7.4
5.7
4.7
4.1
3.5
3.1
76.3
67.2
57.6
48.8
39.5
33.2
31.7
27.4
25.7
18.5
16.1
EBIDTA
PAT
EPS (`)^^
Book Value per share
(`)
P / BV
1.4
Post acquisition of following entities - FY08 Easyaccess Financials Services Ltd,FY11Arena. ^^For EPS calculation - weighted average number of equity shares have been considered. For EPS
& Book Value Calculation the post split number of shares (From Rs.10/- to Rs.2/- per share) has been considered . EPS is for the period and not annualised.
20
Performance by Market
` in million
REVENUE
PAT
27%
13%
96,412.8
822.1
75,794.5
32%
930.7
373.9
19%
444.2
58,571.2
44,518.9
21%
448.2
31,275.6
37,841.6
Q1FY16
Q1FY17
Q1FY16
Overseas
India
India
9%
486.5
Q1FY17
Overseas
21
Revenue by Vertical
2%
5%
93%
FY 07
2%
8%
90%
FY 08
2%
9%
89%
FY 09
IT
2%
2%
2%
2%
2%
2%
2%
14%
18%
19%
16%
18%
21%
23%
84%
FY 10
80%
FY 11
79%
FY 12
Non IT
82%
FY 13
80%
FY 14
77%
FY 15
75%
FY16
2%
31%
67%
Q1FY17
Service
22
Geographical Contribution
REVENUE
48%
52%
47%
53%
52%
48%
52%
48%
51%
49%
53%
47%
55%
45%
PAT
57%
43%
59%
41%
62%
38%
61%
39%
India
48%
45%
52%
55%
39%
37%
38%
44%
47%
49%
51%
48%
53%
51%
49%
52%
56%
44%
61%
63%
62%
56%
Overseas
23
Dividend
Outflow of Finance Cost
Free Cashflow
` in million
Q1 FY17
Q1 FY16
1,320.1
1,138.0
224.7
247.2
1,138.7
-3,328.6
-446.8
-301.5
325.6
358.7
2,562.2
-1,886.2
-111.3
-65.6
0.1
-60.4
-325.6
-358.7
2,125.4
-2,370.9
24
59
54
53
51
52
FY 11
31
53
53
30
FY 12
Inventory Days
51
46
38
34
57
53
48
47
36
58
31
33
FY 13
Debtor Days
32
FY 14
40
41
36
35
FY 15
Creditor Days
FY 16
38
Q1FY17
25
Dividend Distribution
Dividend Policy: 20% payout on profits earned
105%
95%
50%
35%
FY08
55%
45%
40%
FY09
FY10
FY11
20%
20%
FY12
FY13
FY14
FY15
FY16
26
Provisions
Particulars
FY 08
FY 09
FY 10
FY 11
FY 12
FY 13
FY 14
FY15
FY16
Q1FY17
0.07%
0.05%
0.11%
0.14%
0.11%
0.06%
0.11%
0.12%
0.10%
0.07%
Provision for
Inventory -% of Sales
0.04%
0.11%
-0.01%
0.12%
-0.06%
0.02%
0.04%
0.11%
0.05%
0.15%
0.20%
0.11%
0.10%
0.05%
0.15%
0.14%
0.15%
0.11%
0.12% 0.11%
0.11%
0.07%
0.04%
0.12%
0.11% 0.10%
0.07%
0.06%
0.05%
0.02%
0.05%
0.01%
0.00%
-0.01%
-0.05%
-0.06%
-0.10%
FY 08
FY 09
FY 10
FY 11
FY 12
FY 13
FY 14
FY 15
FY 16
Q1 FY17
56%
52%
59%
3%
3%
3%
3%
7%
5%
3%
3%
3%
33%
27%
7%
2%
FY 12
APPLE
42%
44%
3%
3%
7%
4%
5%
9%
8%
25%
24%
11%
13%
15%
FY 14
FY 15
FY16
9%
7%
40%
4%
6%
7%
21%
30%
1%
FY 11
44%
FY 13
HP
LENOVO
26%
SAMSUNG
CISCO
22%
Q1FY17
OTHERS
28
Shareholding Pattern
Others
9.6%
Mutual
Funds, 18.9%
Synnex
Mauritius
Limited
23.6%
Others
9.6%
Synnex
Mauritius
Limited,
23.6%
Mutual
Funds 17.6%
Harrow
Investment
Holding
Limited 8.2%
Harrow
Investment
Holding
Limited 13.3%
Foreign
Institutional
Investors &
FPIs, 24.6%
Standard
Chartered
Private Equity
11.9%
31-Mar-2016
Standard
Chartered
Private
Equity
11.9%
Foreign
Institutional
Investors &
FPIs 29.1%
30-Jun-2016
29
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Shareholding %
23.58
11.93
10.51
8.20
7.12
6.74
5.00
4.90
3.46
2.79
2.76
2.11
1.43
1.20
0.88
0.58
0.54
0.37
0.31
0.30
Top 50
97.25%
Top 20
94.73%
30
110
100
90
80
70
110
100
90
80
70
31
About Us
Subsidiaries
Performance
Competition
32
Competitive Landscape
Global Players
India
Ingram has been acquired by
Tianjin Tianhai, a Chinese
Corporation
Ingram Micro and Avnet
present among Global
Players
Redington and Ingram Micro
of similar size; together
address 70% of the market
33
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Company
Ingram Micro
Redington
HCL Infosystems
Savex Computers
Rashi Perpherals
IRIS Computers
Compuage Infocom
Supertron Electronics
Neoteric Informatic
Global Infonet
Datacare Corp
Fortune Marketing
Mediaman Infotech
Ample Technologies
Balaji Solutions
Technocrat Infotec
Compage Computers
Roop Technologies
Eastern Logica
Lalani Infotech
Maxtron Electronics
Agmetal India
Pacific Infotel
Vishal Peripherals
Swetha Computers and peripherals
Revenue Rs. in Cr
FY15
FY14
FY13
15,823
14,610
6,239
5,980
2,980
2,723
2,129
1,975
1,606
1,237
600
560
438
400
392
350
350
348
310
300
289
280
241
236
230
14,128
13,657
7,267
5,678
2,180
1,893
2,275
1,575
1,501
1,105
500
508
325
300
308
324
370
270
250
260
365
207
232
185
250
12,024
11,746
9,885
4,681
1,765
1,605
1,961
1,408
1,624
934
400
552
321
250
251
303
370
263
210
240
360
221
195
158
200
Rank
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Company
Sakri IT Solutions
Datamation Services
Savera Marketing Technologies
Sogo Computers
Alco Infotech
Comexcell Technologies
Elcom trading
Creative peripherals and distribution
Supreme Technologies
RX Infotech
Mega Compu World
Aegis Infoware
Supreme Computers
Modi Infosol
Park Network
Galaxy computech
Peripherals engineers
Aldous Glare Trade and Export
Suntronic systems
Sujatha Computers
SV Electronics
Champion computers
Microcare Computers
Saboo Computers
Aarvee computers
230
228
225
220
215
200
199
184
178
171
168
165
164
160
150
129
125
120
120
110
105
98
95
91
91
FY14
180
228
182
330
185
190
176
140
156
155
140
165
178
180
150
109
123
110
125
100
125
86
126
95
84
FY13
145
225
157
300
165
185
158
127
140
131
125
151
188
150
116
102
105
159
110
120
140
73
77
75
89
Source: DQ Week
34
Position
2015
2014
2,840
2,620
BDL Group
722
903
680
830
853
608
710
575
390
410
Mitsumi Distribution
475
390
254
229
214
207
135
177
Al-Jammaz Distribution
187
160
152
156
Trigon LLC
142
150
104
N/A
Almasa IT Distribution
Westcon ME Group
Star Link
Same
Same
Same
New Entry
35
In Closing
New business verticals
Robust credit
management
Strong brand
management
Brand acquisition
Long standing vendor
relationship
Great team
stability and loyalty
Market expansion
36
Thank you