Earnings Conference Call Transcript- Q1 FY 2026-27

August 05, 2026 The National Stock Exchange of India Limited, BSE Limited Exchange Plaza, Floor 25, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai — 400 001 Bandra (E), Mumbai – 400051. Symbol: REDINGTON Scrip: 532805 Sir/Madam, Sub: Q1 - FY 2026-27 - Earnings Conference Call Transcript This is further to our letter dated July 27, 2026, intimating the details of earnings conference call on the unaudited financial results for the quarter ended June 30, 2026, held on July 30, 2026. In this regard, we are enclosing herewith the transcript of the conference. The same is available on the Company’s website at Q1FY27-Earnings-call-Transcript-Final.pdf No unpublished price sensitive information was shared/discussed in the meeting/ call. We request you to take this information on record. Thanking you For Redington Limited K Vijayshyam Acharya Company Secretary Encl: a/a “Redington Limited Q1 FY27 Earnings Conference Call” July 30, 2026 “E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on July 30, 2026, will prevail.” MANAGEMENT: MR. V. S. HARIHARAN – MANAGING DIRECTOR AND GROUP CHIEF EXECUTIVE OFFICER– REDINGTON LIMITED MR. S.V. KRISHNAN – FINANCE DIRECTOR – REDINGTON LIMITED MS. PALAK AGRAWAL – SENIOR GENERAL MANAGER, INVESTOR RELATIONS – REDINGTON LIMITED Page 1 of 18 Information Classification: RL\Public Redington Limited July 30, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Redington Limited Q1 FY '27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions at the end of today's presentation. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. This conference call may contain forward-looking statements about the company, which are based on beliefs, opinions, and expectations of the company as of the date of this call. These statements are not a guarantee of future performance and may involve risks and uncertainties that are difficult to predict. I would now like to hand the conference over to Mr. V.S. Hariharan, Managing Director and Group Chief Executive Officer. Thank you, and over to you, sir. V.S. Hariharan: Thank you. Good morning, everyone and thank you for joining us. Q1 FY '27 has been an exceptional quarter for Redington and a strong start to the new financial year, both from a revenue and a profitability perspective. Technology continues to accelerate dramatically. At the same time, geopolitical instability, regional conflict, supply chain shifts and economic uncertainty continues to create new pressures across markets. Our resilience, combined with disciplined execution was instrumental in a good set of results this quarter. During the quarter, we recorded consolidated revenue of INR34,966 crores, reflecting a growth of 34% year-on-year. EBITDA stood at INR751 crores, a growth of 67% year-on-year, and PAT stood at INR486 crores, a growth of 77% year-on-year. The profit growth significantly outpaced the revenue growth, reflecting strong revenue momentum as well as significant operating leverage in the business. Considering it is the first quarter, which normally happens to be a low seasonality quarter, combined with the West Asia crisis continuing to pose some business and supply chain challenges, the results really make us proud. Excluding Arena, the revenue grew 41% year-on-year at INR33,794 crores and a profit of INR517 crores, the best ever. This quarter reinforces the continuing story of profitable growth across our business. It also reflects the strength of our diversified model, our ability to scale with discipline and continued progress on the strategic priorities we have been articulating over the last several quarters. From a geography perspective, India business grew top line by 63% and PAT by 60% during the quarter, clearly the star geography for us. All the business units in India, Mobility, Endpoint Solutions, Technology Solutions, Software Solutions all fired with strong double-digit growth. There was continued strong traction in the upcountry business, good amount of data center deals from neocloud operators. Professional services business grew triple digit in the quarter. Digital platform adoption also grew. We deepened our penetration in our very unique routes to market Page 2 of 18 Information Classification: RL\Public Redington Limited July 30, 2026 like direct-to-retail, regional large-format retail, even GTMs like quick commerce give us some scale. In Middle East, the geopolitical tensions continued through the entire quarter. However, we did see stronger growth in the value in PC categories. Middle East, Africa region grew by 15% despite the crisis there during the quarter, largely on the back of strong growth in the GCC and the Levant region at 95% and Africa at 39%, driven by greater IT adoption, mobility, and increased contribution from Software Solutions Group. UAE and Kingdom of Saudi Arabia were flat to a small degrowth, where we expect to see recovery as the West Asia crisis gets to resolution. Now moving on to quarterly performance by business units. The breadth of our business gives us resilience, relevance with vendors and partners in multiple engines for future growth. All the BUs this quarter contributed very well. Starting with Mobility, it grew 21% year-on-year, contributing to 35% of the top line, driven by strong demand in the premium segment and continued strong execution in the direct retail segment in India during the quarter and entry into new geographies in the Middle East region aided this performance. The performance here could have been better if the product supply supported demand. Endpoint solutions grew 35% year-on-year, contributing to 29% of the top line. The growth here was led largely by component shortage-induced price increases. AI PC penetration into the commercial segment continued to grow with 36% of the revenues in India from AI PCs, which are greater than 40 TOPS definition. The Technology Solutions Group had a growth of 50%, contributing to 17% of the top line. All product categories, server, storage and networking fired well this quarter. There was a good chunk from large deals of nearly INR1,000 crores during the quarter, most of these being in India, in the data center category, with the visibility of strong deal pipeline for the rest of the year. Now coming to Software Solutions Group, we maintained our momentum of growth. We grew by 52%, the highest across the business units, contributing to 17% of the top line. We continue to grow our partnerships with the Tier 1 OEMs and hyperscalers and many new brands as in getting access to the market for -- adding many new brands as well. We are also making sure that we are adding existing brands in some of the geographies where we did not have these brands. We are increasing our solution intensity in the go-to-market, building joint business plans with key brands to drive wallet share. Also this quarter, we saw a rollout of many new capabilities we've been talking about in our new -- in our platform CQ. We rolled out a Reonics capability, a proprietary subscription renewal automation platform, TrackMyCloud, a cloud usage and optimization tool integrated with CloudQuarks. We had also rolled out an AI exchange we have mentioned in the previous call, a marketplace for AI agent catalog for vertical and horizontal use case, which is beginning to generate revenues and momentum in the GTM. Page 3 of 18 Information Classification: RL\Public Redington Limited July 30, 2026 We had conducted during the quarter an SSG Day, where we shared our Software Solutions Group strategy as well as the capabilities we are building. I'm also delighted to announce that Redington has earned the Microsoft's Front [Showing first 8,000 characters — download PDF for full document]