Redtape Ltd
REDTAPE NSE
Redtape Ltd
Consumer GoodsNSE: REDTAPE BSE: 543957 Footwear
Key Fundamentals
MicrocapFootwearConsumer GoodsMarket Cap
₹6,752 Cr
Volatility
Moderate
P/E Ratio
28.02
EBITDA
₹480 Cr
Return on Equity
23.55%
Debt to Equity
0.7
Book Value
₹18.48
EPS
₹12.75
52W High
₹163.5
52W Low
₹107.53
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Redtape Ltd insights
46 extracted metrics + investor summaries across FY22–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has a good return on equity (ROE) track record: 3 Years ROE 26.8%
- Company has been maintaining a healthy dividend payout of 39.7%
Growth Rate
Revenue Growth
17.48% ↗
Net Income Growth
41.53% ↗
Cash Flow Change
3946.74% ↗
ROE
9.28% ↗
ROCE
17.15% ↗
EBITDA Margin (Avg.)
11.30% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 42d agoAI opinion · based on fundamentals
Risk medium
Redtape Ltd is a mid-cap Indian footwear and apparel company with a market cap of approximately ₹7,796 crore, trading at a P/E of 32x and P/B of 7.53x. The company reported consolidated revenue of ₹2,021 crore in FY25 with PAT of ₹170 crore, delivering TTM sales growth of 20% and profit growth of 42%, while maintaining a 3-year ROE of approximately 27%.
Bull Case 8
- Strong revenue growth with TTM sales growth of 20% and 3-year compounded sales CAGR of 18%, outpacing the broader Indian footwear market growth rate of ~11% per annum
- Robust profitability acceleration with TTM profit growth of 42%, significantly ahead of revenue growth, indicating operating leverage kicking in
- Consistently high return on equity at 27% over 3-year and 5-year periods (26%), demonstrating efficient capital allocation
- Healthy dividend payout ratio of 41.6% with current dividend yield of 1.44%, offering income alongside growth — uncommon for a mid-cap growth company
- Operates in Indian footwear market projected to grow at 9.7% CAGR to USD 47.5 billion by 2034, providing a large and expanding addressable market
- Q3 FY25 quarterly net profit of ₹74.07 crore, up 23.2% YoY from ₹60.11 crore, showing continued execution momentum
- PE interest from global firms like Apax and Advent at valuations of ₹4,500–5,000 crore for the operating entity signals institutional confidence in the brand and business model
- Debt-to-equity ratio of 0.38 indicates a relatively conservative balance sheet for a company growing at 18-20% topline
Bear Case 8
- Stock trades at 7.53x book value, a steep premium that leaves limited margin of safety if growth slows
- Earnings include other income of ₹133 crore, which constitutes a material portion relative to PAT of ₹170 crore — core operating profit growth may be overstated
- P/E of 32x is elevated for a company in the competitive consumer discretionary space, pricing in significant future growth
- Competes against well-capitalised global brands (Nike, Adidas) and established domestic players (Bata, Campus Activewear) with deeper distribution networks
- Q3 FY25 revenue growth decelerated to 8.01% YoY (₹665.66 crore vs ₹616.10 crore), a marked slowdown from the 20% TTM rate, raising questions about growth sustainability
- Simply Wall St estimates current earnings growth of 15.1% annually, below the specialty retail industry average of 31%, suggesting the stock may be losing relative momentum
- FY24 standalone PAT of ₹170 crore was roughly flat vs prior year's ₹176 crore, indicating profit growth has been lumpy rather than consistently linear
- Consumer discretionary spending in India is sensitive to macroeconomic cycles, rural demand weakness, and inflationary pressures on input costs
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 74d ago Neutral 1
- Board meet for Q4FY26 results May 18
Redtape Limited scheduled a Board meeting on May 26, 2026, to approve Q4 and FY26 audited financial results and consider a final dividend recommendation.
TL;DR: Limited news flow for Redtape with only a routine board meeting announcement for Q4FY26 results on May 26. No identifiable headwinds or positive catalysts in the current cycle. The upcoming results and potential dividend decision on May 26 will be the next meaningful data point for the stock.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 395 | 325 | 618 | 507 | 442 | 416 | 661 | 506 | 464 | 492 | 787 | 676 | 481 |
| Expenses | 313 | 267 | 513 | 432 | 373 | 352 | 536 | 461 | 387 | 420 | 640 | 564 | 398 |
| Operating Profit | 82 | 58 | 105 | 75 | 69 | 64 | 125 | 45 | 77 | 73 | 147 | 111 | 84 |
| OPM % | 21% | 18% | 17% | 15% | 16% | 15% | 19% | 9% | 17% | 15% | 19% | 16% | 17% |
| Other Income | 1 | 2 | 4 | 5 | 2 | 3 | 9 | 50 | 9 | 10 | 31 | 22 | 15 |
| Interest | 6 | 9 | 10 | 10 | 10 | 12 | 13 | 16 | 16 | 19 | 18 | 15 | 15 |
| Depreciation | 12 | 15 | 16 | 15 | 19 | 21 | 22 | 22 | 21 | 22 | 23 | 22 | 24 |
| PBT | 64 | 36 | 82 | 54 | 42 | 35 | 99 | 57 | 49 | 42 | 137 | 96 | 60 |
| Tax % | 27% | 23% | 26% | 25% | 26% | 28% | 26% | 28% | 21% | 34% | 24% | 27% | 26% |
| Net Profit | 47 | 28 | 61 | 41 | 31 | 25 | 73 | 41 | 39 | 28 | 105 | 70 | 44 |
| EPS in Rs | 0.85 | 0.5 | 1.1 | 0.74 | 0.55 | 0.45 | 1.32 | 0.75 | 0.7 | 0.5 | 1.89 | 1.26 | 0.8 |
Profit & Loss
| Mar 2022 3m | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| Sales | 303 | 1,468 | 1,843 | 2,021 | 2,419 | 2,436 |
| Expenses | 256 | 1,224 | 1,524 | 1,801 | 2,065 | 2,021 |
| Operating Profit | 47 | 244 | 319 | 220 | 353 | 414 |
| OPM % | 16% | 17% | 17% | 11% | 15% | 17% |
| Other Income | 0 | 7 | 13 | 151 | 132 | 78 |
| Interest | 4 | 17 | 37 | 54 | 73 | 66 |
| Depreciation | 2 | 44 | 59 | 83 | 88 | 91 |
| PBT | 41 | 189 | 236 | 233 | 324 | 336 |
| Tax % | 29% | 25% | 25% | 27% | 26% | — |
| Net Profit | 29 | 142 | 176 | 170 | 241 | 246 |
| EPS in Rs | — | 2.57 | 3.19 | 3.08 | 4.35 | 4.45 |
| Div. Payout % | 0% | 0% | 0% | 73% | 46% | — |
Balance Sheet
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.01 | 28 | 28 | 111 | 111 |
| Reserves | 336 | 449 | 621 | 678 | 911 |
| Borrowings | 28 | 260 | 480 | 724 | 720 |
| Other Liabilities | 461 | 502 | 460 | 712 | 564 |
| Total Liabilities | 826 | 1,239 | 1,588 | 2,224 | 2,306 |
| Fixed Assets | 304 | 368 | 646 | 717 | 750 |
| CWIP | 17 | 71 | 17 | 46 | 25 |
| Investments | 1 | 1 | 0 | 0 | 0 |
| Other Assets | 504 | 799 | 925 | 1,461 | 1,531 |
| Total Assets | 826 | 1,239 | 1,588 | 2,224 | 2,306 |
Cash Flow
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Operating | 44 | 127 | 84 | 4 | 174 |
| Investing | -49 | -127 | -116 | -110 | -85 |
| Financing | -17 | 12 | 26 | 99 | -94 |
| Net Cash Flow | -22 | 12 | -5 | -7 | -5 |
| Free Cash Flow | -5 | -6 | -32 | -104 | 89 |
| CFO/OP | 69 | 71 | 46 | 31 | 72 |
Ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 68 | 21 | 18 | 20 | 32 |
| Inventory Days | 963 | 308 | 298 | 406 | 306 |
| Days Payable | 407 | 164 | 108 | 174 | 97 |
| Cash Conversion Cycle | 623 | 164 | 208 | 252 | 240 |
| Working Capital Days | 279 | 48 | 54 | 62 | 81 |
| ROCE % | — | 37% | 29% | 22% | 24% |
Documents
1
Compliances-Reg.24(A)-Annual Secretarial Compliance
23 Apr - Redtape filed FY26 annual secretarial compliance report; one prior 2-day filing delay noted, no penalty levied. 23 Apr - Redtape filed FY26 annual secretarial compliance report; one prior 2-day filing delay noted, no penalty levied.
2
Compliances-Reg.24(A)-Annual Secretarial Compliance
10h - Redtape filed FY26 annual secretarial compliance report; one prior 2-day filing delay noted, no penalty levied. 10h - Redtape filed FY26 annual secretarial compliance report; one prior 2-day filing delay noted, no penalty levied.
3
Intimation Pursuant To Acquisition Of Brand Under Regulation 30 Of SEBI (LODR) Regulations, 2015
8 Apr - Redtape acquires SPRANDI for India, Nepal, Bhutan and Sri Lanka; launch planned soon. 8 Apr - Redtape acquires SPRANDI for India, Nepal, Bhutan and Sri Lanka; launch planned soon.
4
Certificate As per Regulation 74(5) Of SEBI (Depositories And Participants) Regulations, 2018 For The Fourth Quarter Ended On March 31, 2026
7 Apr - Regulation 74(5) certificate filed for quarter ended March 31, 2026. 7 Apr - Regulation 74(5) certificate filed for quarter ended March 31, 2026.
5
Compliance Status Of Regulation 6(1) And 7(1) Of SEBI (LODR) Regulations, 2015
2 Apr - Compliance under SEBI Regulations 6(1) and 7(1) confirmed for quarter ended March 31, 2026. 2 Apr - Compliance under SEBI Regulations 6(1) and 7(1) confirmed for quarter ended March 31, 2026.
Frequently Asked Questions about Redtape Ltd
What does Redtape Ltd do?
India's trusted leading Fashion & Lifestyle brand with over 435+ opulent stores across PAN India. RedTape is known for emerging as one of the Finest Brands of Footwear and Clothing for Men, Women and Kids. It has emerged as a complete Family Fashion Destination by providing the Best International...
Where is Redtape Ltd (REDTAPE) listed?
Redtape Ltd is listed on the Indian stock exchanges. It is listed on NSE: REDTAPE and BSE: 543957. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Redtape Ltd belong to?
Redtape Ltd operates in the Consumer Goods sector within the Footwear industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Redtape Ltd?
Redtape Ltd has a market capitalisation of approximately ₹6751.99 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Redtape Ltd?
The Price-to-Earnings (PE) ratio of Redtape Ltd is 28.02. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Redtape Ltd?
Over the past 52 weeks, Redtape Ltd has traded between a low of ₹107.53 and a high of ₹163.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Redtape Ltd pay dividends?
Yes, Redtape Ltd has a dividend yield of 1.64%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Redtape Ltd?
Redtape Ltd has a Return on Equity (ROE) of 23.55%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Redtape Ltd on Tapetide?
On Tapetide, you can view Redtape Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
India's trusted leading Fashion & Lifestyle brand with over 435+ opulent stores across PAN India. RedTape is known for emerging as one of the Finest Brands of Footwear and Clothing for Men, Women and Kids. It has emerged as a complete Family Fashion Destination by providing the Best International Styles and World-Class Quality through Shoes, Apparels and Accessories for all age groups. It was demerged from Mirza International in 2023. [1]