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Redtape Limited
(REDTAPE)
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Rating:67Neutral
Price Target:
₹152.00
▲(27.25% Upside)
Action:Reiterated
Date:05/30/26
The score is driven primarily by solid operating performance and strong revenue growth, tempered by volatile free cash flow and a higher absolute debt load. Technically, the stock shows a clear uptrend and supportive momentum, while valuation looks demanding with a high P/E and low dividend yield.
Positive Factors
Revenue Growth
Sustained revenue growth from 14.7B to 24.2B over three years demonstrates expanding market penetration and product acceptance. This scale supports operating leverage, greater supplier bargaining power, and the ability to invest in brand, inventory and channel expansion, strengthening long-term competitiveness.
Negative Factors
Volatile Cash Generation
Multi-year swings in operating and free cash flow indicate working-capital and investment volatility. Uneven FCF hampers predictable funding for capex, inventory and debt service, increasing reliance on external financing or equity to support growth and making capital allocation decisions riskier over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained revenue growth from 14.7B to 24.2B over three years demonstrates expanding market penetration and product acceptance. This scale supports operating leverage, greater supplier bargaining power, and the ability to invest in brand, inventory and channel expansion, strengthening long-term competitiveness.
Read all positive factors
Redtape Limited (REDTAPE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹76.95B
Dividend Yield0.6%
Average Volume (3M)93.48K
Price to Earnings (P/E)31.6
Beta (1Y)0.75
Revenue Growth19.30%
EPS Growth41.16%
CountryIN
Employees867
SectorGeneral
Sector StrengthN/A
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)3.27
Shares Outstanding552,807,600
10 Day Avg. Volume49,169
30 Day Avg. Volume93,481
Financial Highlights & Ratios
PEG Ratio0.65
Price to Book (P/B)6.24
Price to Sales (P/S)2.63
P/FCF Ratio72.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Redtape Limited Business Overview & Revenue Model
Company Description
Established in 1996 and based in Noida, India, Redtape Limited is an enterprise specializing in the manufacturing and global distribution of a diverse range of footwear and apparel. The company caters to men, women, and children, operating both wi...
How the Company Makes Money
Redtape Limited makes money by selling branded footwear and allied lifestyle products through multiple channels. Its core revenue stream is the sale of finished goods (primarily shoes/footwear) to (1) wholesale/trade customers such as distributors...
Redtape Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
67
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.27B | 24.19B | 20.20B | 18.43B | 14.68B | 3.03B |
| Gross Profit | 8.53B | 10.42B | 7.37B | 8.94B | 6.72B | 1.35B |
| EBITDA | 3.98B | 4.80B | 3.67B | 3.28B | 2.48B | 472.20M |
| Net Income | 1.81B | 2.41B | 1.70B | 1.76B | 1.42B | 290.40M |
Balance Sheet | ||||||
| Total Assets | 22.91B | 23.06B | 22.24B | 15.88B | 12.39B | 63.20K |
| Cash, Cash Equivalents and Short-Term Investments | 288.60M | 266.90M | 145.70M | 210.40M | 261.80M | 142.60M |
| Total Debt | 9.29B | 7.20B | 7.24B | 4.80B | 2.60B | 285.00M |
| Total Liabilities | 14.33B | 12.84B | 14.35B | 9.40B | 7.62B | 5.00K |
| Stockholders Equity | 8.57B | 10.21B | 7.89B | 6.48B | 4.77B | 3.36B |
Cash Flow | ||||||
| Free Cash Flow | -1.68B | 880.90M | -1.79B | -351.40M | -189.00M | -1.48B |
| Operating Cash Flow | -1.24B | 1.74B | -76.10M | 843.70M | 1.27B | -36.80K |
| Investing Cash Flow | -592.60M | -844.10M | -1.07B | -1.16B | -1.27B | -1.48B |
| Financing Cash Flow | 1.82B | -939.90M | 1.20B | 261.00M | 124.30M | -132.30M |
Redtape Limited Technical Analysis
Positive
119.45
Price Trends
133.21
Positive
126.95
Positive
129.33
Positive
Market Momentum
1.17
Negative
59.84
Neutral
69.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:REDTAPE, the sentiment is Positive. The current price of 119.45 is below the 20-day moving average (MA) of 134.55, below the 50-day MA of 133.21, and below the 200-day MA of 129.33, indicating a bullish trend. The MACD of 1.17 indicates Negative momentum. The RSI at 59.84 is Neutral, neither overbought nor oversold. The STOCH value of 69.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:REDTAPE.
Redtape Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹98.88B | 56.23 | ― | 0.75% | -3.13% | 5.27% | |
67 Neutral | ₹76.95B | 31.59 | ― | 0.60% | 19.30% | 41.16% | |
59 Neutral | ₹71.94B | 47.70 | ― | 0.39% | 11.37% | 23.68% | |
57 Neutral | ₹89.56B | 66.91 | ― | 0.95% | 0.77% | -59.42% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ₹76.02B | -9.70 | ― | ― | -37.56% | -57.88% | |
47 Neutral | ₹43.79B | -13.20 | ― | ― | -14.70% | -391.15% |
* General Sector Average
IN:REDTAPE
Redtape Limited
139.20
-1.18
-0.84%
IN:ABFRL
Aditya Birla Fashion and Retail Limited
62.53
-15.54
-19.91%
IN:BATAINDIA
Bata India Ltd
696.80
-523.22
-42.89%
IN:CAMPUS
Campus Activewear Ltd.
235.35
-36.85
-13.54%
IN:RELAXO
Relaxo Footwears Limited
397.20
-104.87
-20.89%
IN:VIPIND
V.I.P.INDUSTRIES LTD.
308.30
-106.20
-25.62%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.