Summary:
Financial Performance:
- Overall revenues grew by 26% YoY.
- Gross profit increased by 17% YoY.
- Revenue and gross profit growth in Singapore, India, and South Asia (SISA) at 24%.
- Rest of the world saw growth of 29% in revenue and 11% in gross profit.
- EBITDA for SISA grew by 19%, while the rest of the world saw a degrowth of 17%.
Digital Transformation:
- Redington’s digital transformation has been a key factor in its growth.
- Transitioning from a traditional distributor to a technology aggregator.
- Focus on providing managed services for private and public cloud security and audits.
Business Dynamics:
- Subdued demand for work-from-home and learn-from-home technology.
- Robust demand for data center infrastructure products and cloud solutions.
Guidance:
- Expecting a constrained demand environment in certain categories.
- Anticipate sustaining reasonable revenue and margin growth through operating improvements and strategic initiatives.
- Investments in technology capabilities, building partner relationships, and expanding offerings expected to pay off in the future.
Strategic Focus:
- Focused on becoming the number one digital distributor in the world.
- Providing comprehensive tech solutions to customers.
Macroeconomic Environment:
- Financial situation across the world continues to be volatile.
- Challenges such as high inflation, increased interest rates, and currency devaluation in certain operating countries. turkey mainly still achieved 2000 crore plus revenue and PAT of 12 crores in turkey
- Redington remains well-positioned to navigate the evolving macroeconomic environment and continue growing profitably.