Redington (REDINGTON) Q2 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue of INR 29,118 crore, up 17% year-over-year, with quarterly profit at INR 388 crore, marking the best Q2 ever for both revenue and profitability.

• PAT growth outpaced revenue growth, with global EBITDA up 23% and PAT up 32% year-over-year.

• SISA (Singapore, India & South Asia) and ROW (Rest of World) segments both delivered double-digit revenue and profit growth.

• Unaudited standalone and consolidated financial results for Q2 and H1 FY26 were approved, with no material misstatements identified.

Financial highlights

• Q2 FY26 consolidated revenue: ₹29,118 Cr (up 17% YoY); EBITDA: ₹632 Cr (up 23% YoY); PAT: ₹388 Cr (up 32% YoY).

• H1 FY26 consolidated revenue: ₹55,120 Cr (up 19% YoY); EBITDA: ₹1,081 Cr (up 15% YoY); PAT: ₹663 Cr (up 23% YoY).

• SISA Q2 FY26 revenue grew 22% YoY, EBITDA 19%, PAT 22%; ROW revenue up 11%, EBITDA 28%, PAT 53%.

• Free cash flow for Q2 FY26 was ₹1,523 Cr; H1 FY26 free cash flow was ₹583 Cr.

• ARENA reported a loss of INR 37 crore (our share), with one-off impacts from the Connect Vodafone contract divestment.

Outlook and guidance

• SSG expected to maintain strong momentum, with continued investments in presales, platforms, and training.

• Focus remains on accelerating business growth, operational efficiency, and expanding in high-potential geographies.

• Positive outlook for India, UAE, and KSA for the next two to three quarters; strong pipeline in technology solutions and mobility.

• Continued investment in technology platforms, cloud, and subscription-based business models.