Redington Stock Surges 12% After Revenue Jumps 48% on Apple and IT Distribution Strength

The Quick Take

• Redington Ltd shares surged up to 12% to Rs 374 in intraday trading after the company reported 48% global revenue growth in Q2 FY27
• The company distributes Apple products and IT mobility solutions across India, the Middle East, Turkey and Africa, benefiting from strong Apple demand
• Redington trades at a P/E of 15.9 against an industry P/E of 23.4, suggesting valuation upside if the revenue growth trajectory sustains

Redington Limited, India's largest technology and mobility products distributor, delivered a 48% global revenue surge in Q2 FY27 that sent shares jumping 12% to an intraday high of Rs 374. As a primary distributor of Apple iPhones, iPads and Mac products across India, the Middle East, Turkey and Africa, Redington's revenue growth closely tracks Apple's device sell-through in these high-growth markets. The 48% revenue surge signals that Apple's new product cycle — likely driven by iPhone 16 or iPhone 17 launches — has produced exceptional sell-through in the company's geographic footprint.

Redington's geographic diversification across India-IMEA (India, Middle East and Africa) gives it a structurally differentiated growth profile compared to purely domestic IT distributors. India's smartphone market is growing rapidly as 5G penetration drives upgrade cycles, while Middle Eastern markets exhibit high per-capita Apple product affinity. At a P/E of 15.9 against an industry P/E of 23.4, Redington appears undervalued if its revenue growth is sustainable — the discount may reflect margin concerns inherent to distribution businesses with low gross margins even on high revenue volumes.

Watch Q3 results for evidence that the 48% growth is sustainable versus a one-quarter iPhone launch spike. The critical variable is Apple's new product pipeline: Redington's revenue directly tracks Apple sell-through, so any miss in Apple device demand in India and Middle East would immediately hit Redington's topline. The company's expansion into emerging market geographies beyond its current footprint is the longer-term growth lever — watch for any new country entry announcements.

Sources: tradebrains.in | Analysis by market.news AI