Redington (REDINGTON) — Announcement

Redington Limited announced its strategic shift toward a software-led distribution model (SSG) during a June 17, 2026 investor event, emphasizing AI-driven services, cloud, and cybersecurity to capture a $700 billion market opportunity by 2028. Management highlighted 29% YoY SSG revenue growth ($2.2 billion), 74% recurring revenue contribution, and expansion into ASEAN, CIS, and South Africa, supported by hyperscaler partnerships with AWS and Microsoft (including Frontier designation). Key initiatives include an AI Center of Excellence, AI Exchange platform with 450+ pre-validated agents, and ecosystem orchestration to transition from transactional reselling to value-added services. The company targets 5.5-6% gross margins, 25% SSG revenue contribution in the medium term, and 7-10x professional services growth, while addressing IFRS revenue recognition gaps (5% impact) and regional growth drivers like 11% ICT CAGR in India. Risks include vendor concentration (top 6 vendors = 70% revenue) and renewal pressures in competitive cloud deals.

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About Redington Limited (REDINGTON)

Services · Trading · Listed on NSE

Market Cap: ₹28,003.16 Cr P/E: 16.5 ROE: 14.8% ROCE: 18.4% Div Yield: 1.68%

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