Redington Ltd (REDINGTON) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated July 25, 2026 3 min read

Redington Ltd navigates a complex quarter as currency headwinds and global supply constraints test its distribution-heavy business model. Investors will be looking for management's commentary on the impact of the 3% rupee depreciation on gross margins and the sustainability of India's enterprise IT hardware demand.

Quick Details

Results date	July 29, 2026
Quarter	Q1 FY 2026-2027
Previous quarter revenue	Rs. 33,213 cr
Previous quarter PAT	Rs. 391.3 cr
Previous quarter EBITDA margin	2.02%
Market cap	Rs. 20,251.87 Cr
CMP	Rs. 259.05

Redington Ltd Q1 Results Date and Time

The company has scheduled a board meeting for July 29, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026.

What to expect from Redington Ltd's Q1 FY27 results

Redington's Q1 performance is likely shaped by the interplay between robust domestic enterprise demand and the margin pressure from a 3% depreciation in the USD/INR exchange rate. While India's PC market surged 31.1% in the preceding quarter, global PC shipments faced a 4.9% YoY decline, creating a mixed revenue backdrop for the company's international operations. Management's ability to navigate these forex headwinds, given that purchases consume approximately 96.5% of revenue, will be a central focus for analysts assessing the sustainability of the 3.5% gross margin seen in Q4. The company's shift toward cloud and platform annuity revenues remains a key structural lever to offset the lower 1.34% PBIT margins currently observed in the ROW segment.

Key Things To Watch

USD/INR pass-through and hedging: The impact of currency volatility on margins is a primary concern for the quarter.

Assessment of the quantum of forex cover placed and the average hedge rate during the quarter.
Analysis of the lag in passing through the 3% depreciation to end-customers given the 25-day inventory cycle.

Enterprise demand visibility: Tracking the health of the IT hardware refresh cycle and supply chain constraints.

Status of the Windows 11 enterprise refresh cycle pipeline and potential large deal wins.
Commentary on whether global memory-chip shortages are constraining supply for the Indian market.

ROW segment trajectory: Monitoring the profitability of international operations.

Updates on potential recovery or restructuring initiatives for the ROW segment, which recorded a 1.34% PBIT margin in Q4 FY26.

Frequently Asked Questions

How did currency fluctuations impact Redington's costs in Q1?

The rupee depreciated approximately 3% during the quarter, moving from about 93.1/USD in early April to over 96.0/USD by the end of June. Since Redington imports a large share of its products priced in USD, this depreciation creates direct pressure on gross margins unless offset by hedging or timely price pass-throughs.

What is the status of India's enterprise IT demand?

The India PC market showed strong momentum in the preceding quarter with a 31.1% YoY surge, supported by the Windows 11 enterprise refresh cycle. Management will provide insight on whether this growth trajectory was sustained through the April–June period.

Are there any policy changes impacting import costs?

There were no mid-quarter customs duty increases on IT hardware during the April–June period. A July 9 government notification cutting duties on electronics-manufacturing inputs occurred after the quarter ended and will not impact Q1 financial results.