Latest news with #V.S.Hariharan
Saudi Gazette
4 hours ago
- Business
- Saudi Gazette
Redington's Vision for Saudi Arabia: Powering Digital Transformation and Ecosystem Growth
Marking more than two decades of operations in the Kingdom of Saudi Arabia, Redington has emerged as the country's largest IT distributor, with annual revenues nearing $1.5 billion. As the company inaugurates its new headquarters in Riyadh, it is doing more than expanding infrastructure; it is signaling long-term commitment to shaping the future of digital transformation across the Kingdom. With a growing workforce, partnerships with hundreds of global technology brands, and a renewed focus on ecosystem development, Redington is placing itself at the heart of Saudi Arabia's rapidly evolving tech landscape. V.S. Hariharan, Managing Director and Group CEO at Redington, shared insights into the company's journey, its strategic priorities, and the pivotal role it is playing in the Kingdom's digital ambitions. From Modest Beginnings to Market Leadership 'Our journey in Saudi Arabia spans more than 20 years,' Hariharan shared, 'and it has been a remarkable path of growth and transformation.' With strong support from the Saudi government and a willingness to invest in talent and technology, Redington has grown steadily, now generating nearly $1.5 billion in annual revenue. Its team of 360 professionals is spread across multiple offices, anchored by the company's new Riyadh headquarters. 'This headquarters represents more than a physical space,' Hariharan said. 'It's a statement of intent, a symbol of our commitment to people, partnerships, and innovation.' Located in Riyadh's dynamic Al Olaya technology district, the facility is designed to foster collaboration, serve as a technology showcase hub, and deepen relationships with vendors and customers. Reimagining the Role of a Distributor Redington's transformation reflects wider changes in the Saudi market. 'When we began, our revenues were in the low millions,' Hariharan recalled. 'It took time to reach $100 million, then $500 million, and eventually the $1.5 billion mark.' The acceleration, he explained, stems from two key shifts, sustained investment from the government and private sector, and a vastly improved ease of doing business in Saudi Arabia. Where the Kingdom once lagged in areas like cloud and digital infrastructure, it has now nearly caught up with Western markets. 'Saudi Arabia is fast becoming a global technology leader,' Hariharan noted, 'and we're proud to be a part of that evolution.' Once focused primarily on logistics and financing, Redington has evolved into a solution-driven company. 'Today, we don't just move products—we help partners apply technologies like AI and Cloud to real-world challenges,' he said. The Riyadh office now functions as a center of excellence, offering hands-on demonstrations and practical use cases for resellers and enterprise clients alike. Supporting Saudi's Cloud and AI Momentum As the Kingdom ramps up investments in AI and digital infrastructure, Redington is positioned to support both supply and demand. 'We may not have been directly involved in recent announcements, but the growth of AI and cloud services aligns closely with our capabilities,' Hariharan explained. The company partners with leading global brands to provide core data infrastructure and works directly with enterprises and SMEs looking to adopt cloud and AI solutions. 'Whether it's equipping new data centers or guiding cloud migrations, we're active at both ends of the value chain,' he said. Strategic Priorities and Future Outlook Looking ahead, Redington is focused on two core strategic pillars, deepening partnerships with global technology brands and building a strong, enabled partner ecosystem. 'We work with 300 to 400 brands—Apple, HP, Lenovo, Dell, and many others, and they represent 70 to 80 percent of our revenue,' Hariharan shared. With many of these brands establishing local operations in Saudi Arabia, Redington is committed to enhancing collaboration and joint go-to-market efforts. At the same time, the company is expanding its software business, driven by increased demand for cloud services, cybersecurity solutions, and AI tools. To meet this demand, Redington has developed CloudQuarks, a proprietary digital platform that streamlines software sales, manages renewals, and supports customer engagement, moving beyond traditional distribution models. A critical focus for Redington is its long-standing reseller network. From consumer and SME segments to large enterprises, the company is investing in upskilling and empowering its partners to deliver cutting-edge solutions and services to end customers. 'We want to ensure that our ecosystem is future-ready,' Hariharan emphasized. A Future-Facing Headquarters in Riyadh The inauguration of Redington's new headquarters in Riyadh is more than a milestone; it is a reflection of the company's role in Saudi Arabia's digital transformation journey. Strategically located in the heart of Al Olaya, just steps from the iconic Kingdom Tower, the office is designed to be a hub for innovation, collaboration, and partner growth. As the Kingdom continues to pursue its Vision 2030 goals, Redington is doubling down on its commitment to the market, investing in talent, building new capabilities, and helping shape a connected, intelligent, and digitally empowered future. 'We're not just adapting to change,' Hariharan concluded. 'We're helping lead it.'
Business Standard
20-05-2025
- Business
- Business Standard
Redington gains as Q4 PAT soars 104% YoY to Rs 666 crore; declares dividend of Rs 6.80/sh
Redington added 1.61% to Rs 284.80 after the company's consolidated net profit zoomed 104.43% to Rs 665.62 crore as against Rs 325.59 crore in Q4 FY25 over Q4 FY24. Revenue from operations jumped 17.85% year on year to Rs 26,439.68 crore in Q4 FY25. Profit before tax spiked 201.71% to Rs 1,148.14 crore in Q4 FY25, compared with Rs 380.54 crore posted in Q4 FY24. EBITDA (global performance) stood at Rs 667 crore in Q4 FY25, registered a growth of 24%, compared with Rs 539 crore recorded in same quarter last year. On the segmental front, SISA (Singapore, India & South Asia) revenue was at Rs 13,453.52 crore (up 24.61% YoY) while ROW (Rest of the World) was at Rs 12,998.65 (up 11.57% YoY) crore. Global revenue stood at Rs 26,510 crore in Q4 FY25, registering the growth of 18% YoY while net profit jumped 23% YoY to Rs 400 crore in Q4 FY25. On a full year basis, the company's consolidated net profit jumped 46.98% to Rs 1,820.62 crore on 11.17% rise in revenue from operations to Rs 99,333.65 crore in FY25 over FY24. V.S. Hariharan, Group CEO, Redington, said, Building on the momentum from Q3, our Q4 results reaffirm Redingtons commitment to profitable growth and market leadership. This year, weve achieved stable growth across all business units and geographies. Our focus on strategic markets, both established and emerging, has delivered sustainable results. While technology distribution remains our core, our Cloud business has grown over 40% YoY, driven by increasing adoption of subscription and consumption models. We continue to strengthen our positioning with brands through our focus on software, services, and professional capabilities, especially around AI-enabled solutions. These results reflect our agility and our strategic readiness to lead in the next wave of digital transformation. Meanwhile, the board of directors has recommended a final dividend of Rs 6.80 per equity share, equivalent to 39.5% of consolidated profits without divestment gains, subject to approval by the shareholders at the ensuing annual general meeting (AGM). Redington is a leading distributor of IT and mobility products and a provider of supply chain management solutions and support services in India, the Middle East, Turkey and Africa.
Time of India
20-05-2025
- Business
- Time of India
Redington shares zoom 9% after Q4 profit jumps 183% YoY on broad-based demand
Redington shares zoomed 9.5% to their intraday high of ₹306.85 on the BSE in early trade on Tuesday after the technology solutions provider reported a sharp 183% year-on-year rise in net profit for the March quarter, driven by strong demand across markets. The company posted a consolidated net profit of ₹917.7 crore for Q4 FY25, compared to ₹323.9 crore in the same period last year. Revenue rose 17.9% YoY to ₹26,439.7 crore from ₹22,433.4 crore in Q4 FY24. EBITDA for the quarter rose 30% to ₹596.9 crore, while margins improved to 2.3% from 2% a year ago, reflecting operational efficiencies. For the full year ended March 31, 2025, Redington reported record consolidated revenue of ₹99,562 crore, up 11% YoY. Normalised profit after tax (excluding one-time divestment gain) stood at ₹1,340 crore, marking a 10% YoY increase. The company's growth was supported by broad-based demand. In Q4, revenue in India rose 26% YoY, while the UAE market grew by 24%. Redington also saw solid traction in Saudi Arabia and Africa, aided by enhanced go-to-market capabilities and expanded brand partnerships. V.S. Hariharan, Group CEO of Redington Ltd. , commented, "Building on the momentum from Q3, our Q4 results reaffirm Redington's commitment to profitable growth and market leadership. This year, we've achieved stable growth across all business units and geographies. Our focus on strategic markets, both established and emerging, has delivered sustainable results." Redington's cloud business continued its robust growth trajectory, increasing by 41% YoY in Q4 FY2025. The company's Technology Solutions Group (TSG) grew by 28% YoY, driven by large deal wins and new software brand contracts. Redington's board has recommended a final dividend of ₹6.80 per equity share, representing 39.5% of FY25 consolidated profits (excluding the one-time gain), subject to shareholder approval at the upcoming AGM. A Fortune India 500 company, Redington operates in over 40 markets with 450+ brand associations and a network of more than 70,000 channel partners. Its product portfolio spans IT, telecom, lifestyle, and solar segments, offering end-to-end distribution and technology solutions.
