With a market valuation of Rs 6,193 crore, the footwear brand’s shares climbed 10 percent to Rs 461.90 per share on Friday after CRISIL assigned the rating.
At 1:10 p.m., Redtape Ltd shares were trading at Rs 447.10 per share, up Rs 28.05 or 6.68 percent from the previous close price on the Exchange. The company has a market capitalization of Rs 6,194 crore.
The CRISIL rating agency assigned the company a CRISIL A(Stable) grade for the total Bank Loan Facilities of Rs 240 Crore. According to BSE filings.
The company’s revenue has increased by 390 percent year on year, from Rs 296 crore in FY 21-22 to Rs 1,458 crore in FY 22-23. During the same period, Net profit jumped by 440 percent from Rs 25 crore to Rs 136 crore.
As per the recent financial year, the company’s profitability ratio has increased with a return on equity at 29.19 percent and a return on capital employed at 25.31 percent and the company’s net profit margin has marginally increased to 9.32 percent.
According to the recent shareholding pattern, the promoters hold 71.77 percent of the company, while Domestic institutional investors hold 4.13 percent and retail investors hold a 22.59 percent stake.
RedTape is a Fashion and lifestyle brand, It is known for emerging as one of the Finest Brands of Footwear and Clothing for Men, Women, and Kids. The company sells its products in over 37 Countries and 6 Continents.
Written by Omkar Chitnis
