Apple distributor Redington eyes 22% upside after crossing Rs 1 lakh crore revenue in FY26
Redington, distributor for Apple, Dell, HP and Microsoft, topped Rs 1.19 lakh crore revenue and Rs 1,490 crore profit in FY26. Analysts see 22% upside with price targets up to Rs 340, backed by higher-margin cloud/services and Apple's rising India iPhone manufacturing. FII stake stands at 63.27%.
What happened
Redington, distributor for Apple, Dell, HP and Microsoft, crossed Rs 1 lakh crore revenue in FY26; analysts see 22% upside, supported by higher-margin
Key facts
- 22% upside
- revenue Rs 1.19 lakh crore FY26
- profit Rs 1,490 crore FY26
- price target Rs 328
- Rs 340 target Monarch
- FII stake 63.27%
- iPhone 25% India manufacturing
Why this matters
Redington's expanding cloud/services franchise and deepening Apple manufacturing ties in India create partnership and bolt-on acquisition opportunities across the distribution-to-value-added-services stack.
What to watch
- Apple India iPhone production ramp announcements
- Redington quarterly gross margin trend vs guidance
- Analyst target revisions around Rs 340
- Any large FII stake reduction disclosure
- IT hardware demand cycle / enterprise refresh signals
- Track quarterly services/cloud revenue share as % of total for margin proof
- Watch vendor contract renewals and any pricing/terms changes from Apple, Dell, HP, Microsoft
- Monitor working capital and inventory days given low-margin high-turnover model
- Screen FII flow data for concentration-driven volatility