Registered & Corporate Office

Redington (India) Limited

Redington House, Centre Point,
Plot. No.11 [SP), Thiru.Vi.Ka Industrial Estate,
Guindy, Chennai- 600032. Tamil Nadu, INDIA
Tel: +91444224 3353 Fax: +91442225 3799
CIN: L52599TN1961PLC028758
www.redingtongroup.com

May 21, 2022

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: Declaration pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure

Requirements) Regulation, 2015

In terms of requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, we enclose herewith the Audited standalone and
consolidated financial results for the quarter and year ended March 31, 2022, along with the
respective audit reports issued by M/s. BSR & Co. LLP, Statutory Auditors of the Company.

We declare that M/s. BSR & Co. LLP, Statutory Auditors of the Company have issued Audit
Reports with an unmodified opinion on the financial results.

The financial results will be uploaded on the website of the company

https://redingtongroup.com/india/financials-and-reports/

The meeting commenced at 11.30 A.M. (IST) and concluded at 05:15 P.M. (IST).

We request you to take the same on record.

Very truly yours,

MUTHUKUMARAS Digitally signed by
MUTHUKUMARASAMY
AMY MUTHUKRISHNAN
Date: 2022.05.21 17:31:15
MUTHUKRISHNAN +05'30'
M. Muthukumarasamy
Company Secretary

All Correspondence to Registered & Corporate office only

Redington (India) Limited
Registered office: Redington House, Centre Point, Plot No. 11 (SP), Thlru. VI. Ka. Industrial Estate, Gulndy, Chennal • 600 032
e'f11Redirigton
Website: www.redingtongroup.com
Emall:[email protected]
CIN:L52599TN1961 PLC028758
Board No:+91-44-42243353
Fax No:+91-44-22253799

Statement of audited Standalone Financial Results for the Quarter and Year Ended March 31, 2022
, In Crores
Quarter Ended Year Ended
March 31, 2022 December 31 , 2021 March 31, 2021 March 31, 2022 March 31, 2021
Particulars (Audited) (Unaudited) (Audited) (Audited) (Audited)
(Refer n - 2 (cl) (Refer note 2 (c))

Income
Revenue from operations 7.778.89 7,088.75 6,352.35 27,018.94 22,720.67
other income (net) 11.85 9.48 14.94 487.53 7 1.07
Total Income 7,790.7-4 7,098.23 6,367.29 27,506.47 22,791 .74

Expenses
Purchases of traded goods 7,943.30 6,955.21 5,855.50 26,684.44 21,805.20
Changes in inventories of traded goods (468.50) (182.33) 243.05 (790.59) 57.70
Employee benefits expense 46.28 45.39 40.50 172.30 152.18
Finance costs 1.34 1.07 1.52 7.20 42.43
Depreciation and amortisation expense 6.19 5.91 6.82 30.15 27.83
Other expenses 96.24 87.08 62.92 298.57 238.68

Total expensH 7,624.85 6,912.31 6,210.31 26,-402.07 22,32-4.02

Profit before tax 165.89 185.92 156.98 1,104.-40 "'67.72

Tax expense:
CUilen! lax 47.70 51.42 38.79 175.91 113.80
Deferred tax (5.27) (2.95) 2.72 (6.58) 1.60
Tex expenses In respect of earlier years . - - - 88.99
Profit for the Quarter/ Year (A) 123."'6 137.45 115.47 935.07 263.33

Other comprehensive Income

Items that will not be reclassified to profit or loss

Remeasurement of defined benefit plan 0.89 0.31 0.94 (2.57) 2.38
Income lax relating to item above (0.22) (0.08) (0.23) ..0.65 (0.60)
Net other comprehensive income that will not be reclassified to profit or loss 0.67 0.23 0.71 (1.92) 1.78
Items that will be reclassified to proftt or loss
Foreign exchange differences In translating the financial statements of foreign
operations 0.53 0.03 - 0.75 (0.76)
Income lax relating to ttem above 0.01 (0.01) 0.19 (0.05) 0.19
Net other comprehensive income that will be reclassified to profit or loss 0.5"' 0.02 0.19 0.70 (0.571

Total other comprehensive income (Bl 1.21 0.25 0.90 (1.22) 1.21

Total comprehensive income (A+B) 124.67 137.70 116.37 933.85 264.5"'

Paid-up equity share capital (Face Value_, 21- per share) 156.29 156.26 77.84 156.29 77.84

Other equity as per balance sheet of aCC01.nting year - - - 2,392.53 1,989.89

Earnings per Equity Share: (Face Value •, 2J. par share) (Not annualized for
Quarters )
Basic (in') 1.58 1.76 1.48 11.98 3.38
Diluted (in') 1.58 1.76 1.48 11.97 ~ 38
I
Statement of audited Consolidated Financial Results for the Quarter and Year Ended March 31, 2022 Redington
f In Crores
Quarter Ended Year Ended
Particulars March 31, 2022 December 31, 2021 March 31, 2021 March 31, 2022 March 31, 2021
(Audited) (Unaudited) (Audited) (Audited) (Audited)
•Refer note 2 lcll !Refer note 2 lcl & 41 lrefer note 4l
Income
Revenue from operations 17,301.76 16,600.74 15,503.94 62,644.01
Other income (net) 56,945.86
22.68 19.07 26.43 87.56
Total Income 95.73
17,324.44 16,619.81 15,530.37 62,731.57 57,041.59
Expenses
Purchases of traded goods 16,902.26 16,153.49 14,460.36 60,151.63 53,110.66
Changes in inventories of traded goods (661.30) (585.98) 116.53 (1,296.63)
Employee benefits expense 690.31
237.99 228.64 207.48 885.66
Finance costs 831.98
33.08 23.85 30.50
Depreciation and amortisation expense 115.59 156.44
36.59 33.74 36.21
Other expenses 141.28 148.20
332.28 279.34 294.47 1,111 .68 969.53
Total expenses 16,880.90 16,133.08 15,145.55 61,109.21 55,907.12
Profit before exceptional item and tax 443.54 486.73 384.82 1,622.36 1,1:U.47
Exceptional Item
Impairment of goodwill and other intangibles - - - - 6.34
Prof'ot before tax 443.54 486.73 384.82 1,622.36 1,128.13
Tax expenae:
CUTent tax 87.52 85.74 72.41 308.53
Deferred tax 255.42
0.45 3.93 9.63 (1.04)
Tax expenses in respect of earlier years (4.78)
Profit for the Quarter / Year (A)
- - - - 88.99
355.57 397.06 302.78 1,314.87 788.50
Other comprehensive income

Items that will not be reclassified to profit or loss

Remeasurement of defined benefit plan (6.50) 0.41 (0.38) (9.67)
Income tax relating to item above 1.71
(0.29) (0.11) (0.12) 0.51
Net other comprehensive Income that will not be reclasslfled to profit or loss (0.65)
(6.79) 0.30 (0.50)
Items that will be reclassified to profrt or loss (9.16) 1.06
Foreign exchange differences in translating the financial statements of foreign
operations 22.44 (99.90) (21.78) (56.69) (165.23)
Income tax relating to item above 0.01 (0.01) 0.19 (0.05)
Net other comprehensive Income that will be reclassified to profit or loss 0.19
22.45 (99.91) (21.59) (56.74) (165.04)
Total other comprehensive Income (B) 15.66 (99.61) (22.09) (65.90) (163.98)
Total comprehensive Income (A+B)
371.23 297.45 280.69 1,248.97 824.52
Profit for the Quarter/ Year attributable to the :-
Shareholders of the Company 347.97 388.07 301.87 1,279.91 758.28
Non-Controlling Interests 7.60 8.99 0.91 34.96 30.22
Total Comprehensive Income for the Quarter/ Year attributable to the :-
Shareholders of the Company 381.95 341.34 289.31 1,299.19 626.03
Non-Controlling Interests (10.72) (43.89) (8.62) (50.22) (1.51)
Paid-up equity share capital (Face Value-, 21- per share) 156.29 156.28 77.84 156.29 77.84
C"'>~ P'luity as per balance sheet of accounting year - - - 5,628.«F 4,860.67
Earnings per Equity Share: (Face Value •, 2/- per share) (Not annualized for
Quarters)
Basic (in 'l 4.46 4.97 3.87 16.40 9.74
Diluted (in 'l 4.45 4.96 3.85 16.39 9.72
Consolidated Segment wis e Revenue, Results, Assets and Liabilities for the Quarter and Year Ended March 31, 2022
, lnCrores
Redington
Quarter Ended Year Ended
Particulars March 31, 2022 December 31, 2021 March 31, 2021 March 31, 2022 March 31, 2021
(Audited) (Unaudited) (Audited) (Audited) (Audited)
{Refer note 2 Cell {Refer note 2 Cell

Segment revenue
India 7,841.52 7,144.86 6,408.36 27,255.40 22,827.36
Overseas 9,460.45 9456.09 9 095.93 35,389.49 34,119.72
Total 17,301.97 16,600.95 15,504.29 62,644.89 56,947.08
Less: Inter segment revenue 0.21 0.2 1 0.35 0.88 1.22
Revenue from operations 17,301.76 16 600.74 15 503.94 62 644.01 56 945.86

Segment results (Profit before finance costs, exceptional item and tax)
India 176.70 191.88 164.69 684.29 504.76
Overseas 299.92 318.70 250.63 1,053.66 786.15
Profit before finance costs, exceptional Item and tax 476.62 510.58 415.32 1,737.95 1,290.91

Less: Finance costs

India 3.22 2.23 4.09 13.25 54.73
Overseas 29.86 21.62 26.41 102.34 101.71
Total finance costs 33.08 23.85 30.50 115.59 156.44
Profit before exceptional item and tax
India 173.48 189.65 160.60 671.04 450.03
Overseas 270.06 297.08 224.22 951.32 684.44
Profit before exceptional Item and tax 443.54 486.73 384.82 1,622.36 1,134.47

Exceptional item
India - - - -
Overseas - - - - 6.34
Total exceptional item
- - - 6,34

Profit before tax

India 173.48 189.65 160.60 671.04 450.03
Overseas 270.06 297.08 224.22 951.32 678.10
Total profit before tax 443.54 486,73 384,82 1,622.36 1,128.13

f In Crorea
As at Asal Asat
Particulars March 31, 2022 December 31, 2021 March 31, 2021
(Audited) (Unaudited) (Audited)
!refer nntD 41

Segment assets
India 7,173.32 6,122.36 4,533.61
Overseas 11,099.02 11,574.01 9,881.43
Unallocated 143.56 138.05 146.83
Total 18,415.90 17,834.42 14,561.87

Segment Liabilities
India 5,373.18 4,436.82 3,243.53
Overseas 6,759.96 7,507.35 5,861.73
Unallocated 175.06 153.80 145.13
Total 12,308.20 12,097.97 9,250.39

For Redington (India) Limited

i ·CJ-~
S V Kris hnan
Place : Chennai Whole-time Director and
Date : May 21, 2022 Global Chief F inancial Officer
Redington (India) Limited

Notes to the Statement of audited Standalone I Consolidated Financial Results for the Quarter/
Year Ended March 31, 2022

1. The above financial results have been reviewed by the Audit Committee and approved by the
Board of Directors of Redington (India) Limited ("the Company") at their respective meetings held
on May 20, 2022, and May 21 , 2022.

2. a. The above financial results have been prepared in accordance with the recognition and
measurement principles laid down in Indian Acevunting Standards ('Ind AS') prescribed under
Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in
India, in compliance with Regulation 33 and Regulation 52 read with Regulation 63(2) of the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 ("Listing regulations").

b. The figures of the previous periods have been regrouped I reclassified, wherever necessary,
to conform to current period's classification.

c. The figures for the quarter ended March 31 , 2022, and March 31, 2021 , as reported in these
financial results are the balancing figures between audited figures in respect of the full financial
year and the published unaudited year to date figures up to the end of the third quarter of the
relevant financial year.

3. The Group is engaged primarily in the business of Distribution of Information Technology &
Mobility products besides supply chain solutions and after sales service. As per Ind AS 108
"Operating Segments", the disclosure of reportable segments, "India" and "Overseas" have been
made in a manner consistent with internal reporting made to the Managing Director who is the
Chief Operating Decision Maker for the Group.

4. Pursuant to the Order of Regional Director dated September 27, 2021 , Chennai, Rajprotim
Supply Chain Solutions Limited (RCS), erstwhile wholly owned subsidiary, is merged with
ProConnect Supply Chain Solutions Limited (ProConnect), with an appointed date of April 1,
2020. The merger has been accounted under the 'pooling of interests' method in accordance
with Appendix C of Ind AS 103 'Business Combinations', and comparatives have been restated
for merger from the beginning of the previous year i.e., April 1, 2020. The reconciliation of the
profits for the above periods is given below which are different from earlier reported numbers.

Particulars Quarter ended Year ended

31-Mar-21 31-Mar-21
(Audited) (Audited)
Profit after tax reported in earlier periods 303.42 786.61
Add: Profit/ (loss) on account of merger of RCS* (0.64) 1.89
Profit after tax as per the above results 302.78 788.50
*Tax impact on account of merger

Particulars Year ended

31-Mar-21
(Audited)
-
Other Equity reported in earlier periods 4,855.87
Add: Impact on account of merger of RCS 4.80
Other Equity as per the above results 4 ,860.6'1
5. During the quarter ended March 31, 2022:

a. Tile Company incorporated a wholly owned subsidiary "Redserv Global Solutions

Limited" in India. The entity is yet to commence its operations.

b. Liquidation process of "Ensure Technical Services Kenya Limited" a wholly owned step-
down subsidiary of Redington Gulf FZE ("RGF") completed during the quarter.

c. The SAR Share Allotment Committee of the Board of Directors of the Company has
considered and approved allotment of 59,942 equity shares of~ 2/- each on February
18, 2022, pursuant to exercise of Stock Appreciation Rights granted under Redington
Stock Appreciation Rights Scheme, 2017.

6. Subsequent to the balance sheet date,

a. Liquidation process of "Redington Cote de lvoire" and "Ensure Technical Services

Morocco Limited (Sari)" (wholly owned step-down subsidiaries of RGF) completed.

b. The Board of Directors at its meeting held on May 21 , 2022, has recommended a dividend
oft 6.60/- per equity share oft 21- each (i.e., 330% of face value) for the financial year
ended March 31 , 2022, subject to the approval of shareholders in the ensuing Annual
General Meeting.

c. The Board of Directors at its meeting held on May 21, 2022, has taken note of the
resignation of Mr. Raj Shankar as "Vice Chairman and Non-Executive Director'' of the
Company. The Board also took note of the intimation about the resignation of Mr. Raj
Shankar from the subsidiaries in which he held directorship.

d. The Group has subsidiaries with operations in Turkey. Based on the information currently
available, Turkey is expected to be considered a hyperinflationary economy for the
reporting periods ending on or after June 30, 2022. Consequently, the subsidiaries will
be required to make necessary adjustments in their financial statements in accordanu
with Ind AS 29 Financial Reporting in Hyperinflationary Economies.

7. Impact of COVID-19

The Group/Company has considered the possible effects of known events arising from COVID-
19 pandemic in the preparation of the financial results including but not limited to its assessment
of Group/Company's liquidity and going concern, recoverable values of its financial and non-
financial assets. The Group/Company will continue to monitor any material changes to future
economic conditions and consequential impact on its financial results.
 8. Statement of Assets and Liabilities:

f In Crores
Standalone Consolidated
Asal Asal Asal All!
Particulars March 31, M1r,;h 31, M1r,;h 31, M1r,;h31,
2022 2021 2022 2021
Audited Audited Audited Audited
(r.fer no111 4)
ASSETS
Non-currant 1111ts
Property, plant and oquipmont
25.81 24.22 147. 14 147.02
Capital work-in progress
84.79 84.83 0.29
Riglt-of.use-assets
19.51 20.38 206.28 177.09
lnwstment ptOperty
46.44 49. 12
Good\MH
61.70 18.30
Other intangible assets
14.56 26.78 284.96 262.37
lntangtble assets under de-.elopment
0.56 0.65
Financial 1N1ta
ln'lestments in sub61diaries and associate
667.96 639.96
Others inancial assets
1.66 2.58 18.63 7C 49
Deterred tax assets {net)
23.28 16.09 38.48 , 1. 12
Income tax assets (net)
96.32 99.18 105.08 1,5.11
Other ~urnmt assets 72.93 75.81 101.85 b0.77
Total non~urrent ■-ti
1,055.28 954.12 1,049.51 853.81
Current 1111t:1
lnwntories 1,851.27 1,060.66 4,383.04 2,902. 11
Financial 1111ts
Trade recei...ble1
3,860.66 2,813.80 8,675. 16 6,800.67
Cash and cath equi...ients 873.18 303.45 3,289.54 2,938.58
Other bank balances
284 0.21 389.76 554.39
Loans
Other l naneiat assets
20.00 -
38.10 28.08 226.89 196.80
Other current assets
185.82 81.04 414.99 305.51
Total currant ••ts 6,811.17 4,307.26 17 359.38 13,700.06
Assets held br sale
0.10 701 8.00
Total IINtl 7,867.15 5,261.48 18,415.90 14,561.87
EQUITY ANO LIABILITIES

Equity
EqOOy share capital 156.29 77.84 156.29 ~7.84
Other equity
2.392.53 1 989.89 5.628 66 4,8(,(),67
Equity 111ributable to 111• ah1r.holders of 1111 Company 2,548.82 2,067.73 5,784.95 4,9:<8.51
Non-controlling inte~sts
322.75 3·,2_97
Total equity
2,548.82 2,067.73 6,107.70 5,311.48
Share Application Money Pending Allotment

Llabilitill
No~urrent ll1billtie1
Financlal llabilities
BllfTO'o>ings
90.14 4.56
Lease llabiliUes 13.32 14.23 138.25 122.41
Trade payables
(A) total outstanding dues of micro enterprises and small enterprises
(B) total outstanding dues of creditors other than micro enterprises and ,man enterpnses 699 6.99
Other tnancial liabilities
7.26 6.53
Pro\1sions 31.29 26.00 155.01 127.02
Deferred tax 1,abdlties (net)
8.47 2.75
Total non<urrant U■ bHitie, 51.SO 40.23 406.12 263.27
Current liabilitl11
Financial liabilities
BomM;ngs
0.16 0.99 542.65 440.42
Lease liabilities 7.71 7.27 59.72 !4.52
Trade payabfes
{A) total outstttnding dues of micro enterprises and small enterprises 1276 4.49 13.48 4.49
{B) total outstanding dues of credtors other than micR> enterprises and small enterprises 4,841.15 2,741.40 10, 140.74 7.295.46
Other financial liabilities 9504 137.03 210.40 222.13
Other current lial>iilies 243.20 196.00 741.98 803.32
Pro~sions 3.11 3.32 26.54 24.40
Current tax liabilities (net) 6360 6 1.02 166.59 142.38
Total current liabilities 5,266.73 3,153.52 11,902.08 8,987.12
Tolll llabilltits 5,318.33 3,193.75 12,308.20 9,250.39
Total equity and liabilities 7,867.15 5,261.48 18,415.90 14,561.17
 9. Statement of Cash flows

f. In Crores
Particulars Standalone Consolidated
For the year ended For the year ended For the year ended For the year ended
March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021
A. Cash flow from operating activities
Profrt for the year 935,07 263.33 1,314.87 788.50
Adjustments for:
- Income tax expense recognised in profit and loss 169.33 204.39 307.49 ' 39.63
- Depreciation liW1d amortisation expense 30.15 27.83 141.28 ,48.20
- Finance costs 7.20 42.43 11~.~9 1.56 44
- Interest income (9.58) (23.96) (42.44) (56.62)
- Stock compensation expense 1.58 1.84
- mpairment of goodwill and other intangibles 6.34
- Alowance for impairment of trade receivables and other financial assets 48.25 16.79 00.70 51.71
(including bad debls written off)
- Gain on disposal of a sllbsidiary (26.10) (4.40)
- Dillidend income from subsidiaries (45228)
- Income received from short-term investments (4 73) (1.69) (4.73) (1 .87)
- lklrealised exchange (gain)/ loss (net) (5.16) 106 (20.34) (0.84)
- Gain on modrficat1011 of leases (0.09) (1.53) (0.09) (153)
- Loss on change in fair value of property held for sale 1.16
- Loss on sale of intangible assets (net) 0.09 0.26
- Gain on sale of property, plant and equipment (net) (2.84) (1.70) (3.59) (1.29)
Operating profit before 'M>l'king capital changes 715.32 502.43 1,889.99 1,426.37
(Increase)/ Decrease in trade receivables (1.091 60) (2867) {1,45995) 23.72
(Increase) / Decrease in other assets (108 46) 31.38 (120.37) 8.09
(Increase)/ Decrease in inventones (790 59) 57.70 (1,296.63) 690.14
(Decrease)/ Increase in other iabilities 0.44 (065) (97.84) 398 12
Increase In trade payable 2,114.95 458.40 2,33891 1.200.92
Increase in provisions 2.51 3.20 11.45 12.92
Cash generated from operations 842.57 1,023.79 1,285.56 3,760.28
Income ta>es pad (net) (172.47) (153.79) (276.36) ( .33.39)
Nat cash generated from operating activities 670.10 870.00 989.20 3.496.89
B. Cash nowrromlnvesting activities

Payment towards acqusition of property, plant liW1d eqt.iprnent (94.05) (4.67) (1 17.75) (33.04)
Payment towards acqusition of other i1tangible assets (1.54) (108) (8.08) (14 98)
Proceeds from sale orproperty, plant and equipment and other ntang,ble 4.48 2.22 6.n 10.00
assets
hterest received 958 23.96 39.90 52.92
Dividend income from Subsidiaries 45228
Income received from short-term investments 4.73 1.69 4 73 1.87
Loans gi'len to subsidiary (42.00)
Loans settled by subsidiary 20 00 22.00
Changes in ban< deposRs not treated as cash and cash eqtivalents (0.01) 202.91 (538.50)
Proceeds from disposal of subsidiary (net of directly attributable expenses and 30.60 24.91
cash disposed off, as applicablej
Investment in subsidiaries (28.00)
Acquisrtion of subsidary, net of cash and cash equvalents acquired 185.00
Net cash generated from/ (used In) from Investing activities 367.47 32.72 (66.52) (GS.82)
C. Cash nowrromflnanclng activities
Proceeds from short-term borrowings (net) (44579) 88.:36 (1,243.43)
Repayment of short-term borrowings (0.83) (71595) (1.84) (752.01)
Proceeds from long-term borrowings 8836
Repayment of long-term borrowings (14.02) (7.02)
Proceeds from allotment or shares under Slock Appreciation Right Scheme. 0 32 0.02 032 0 .02
Diwlends paid (453.07) (45307)
DMdend paid by step-down subsidiary to non-controling shareholders (763)
Finance costs paid (5 51) (4410) (108.81) 1143.55)
Acquisition of non-coruolling interest (0.31)
Payment of lease iabillties (8.75) (10.78) (6778) (9475)
Net cHh (uaed In) financing activities (467.84) (1,216.60) (476.11) (2,241.05)
Net lncreaae / (decrease) In cuh and cash equivalents 569.73 (313.88) 456.57 759.02
Cash and cash eqlivalents at the begiming of the year 303.45 617.33 2,925.26 2,279.30
Effect of exchange diffe<ences on restatement of foreign c11rency cash and
cash equivalents (11045) (113.06)
Cash and cash equivalents at the end or the year 873.18 303.45 3 271.38 2 925.26
Reconciliation of Cash and cash equivalents "'11th the Balance Sheet
Cash and cash equivalents at the end or the period as per Balance 873.18 303.45 3,289.54 2.938.58
Less: Bank overdrafts and cash credit facil~ies used for cash management
pu,-poses 1816 1332
Caah and cash equivalents at the end of the period 873.18 303.46 3 271.38 2,925.26
10. The Company had listed its commercial papers in the bourses of BSE. However, there are no
commercial papers outstanding as at March 31, 2022, and March 31, 2021.

Pursuant to such listing, below are the details of Redington (India) Limited on a standalone basis
required as per Regulation 52(4) of the Listing Regulations:

Year ended Year ended

Particulars March 31, 2022 March 31, 2021
(Audited) (Audited)
Debt service coverage ratio (no. of times)
91.57 12.02
[refer note (a)l
Interest service coverage ratio (no. of times)
(475.00) 21.24
[refer note (b)l
Debt equity ratio (no. of times) [refer note (c)l (0.47) (0.21)
Net worth [refer note (d)l Ct in crores) 2,548.82 2,067.73
Capital redemotion reserve ~ in crores) - 2.22
Earninas oer share (EPS)*
(a) Basic EPS (t) 11.98 3.38
(b) Diluted EPS (t) 11.97 3.38
Net orofrt after tax* Ct in crores) 935.07 263.33
Current ratio (no. of times) frefer note (e)l 1.29 1.37
Current liability ratio (no. of times) [refer note (f)l 0.99 0.99
Long term debt to working capital (no. of times) - -
frefer note fo)l
Bad debts to Accounts receivable ratio 0.01 0.01
(no. of times) [refer note (h)l
I\ I\
Total debts to Total assets ratio (no. of times)
[refer note (i)l -
Debtors turnover (no. of times) [refer note (i)l 8.10 8.09
lnventorv turnover (no. of times) rrefer note (k)l 17.78 20.07
Ooeratina marain (%) [refer note (1)1 2.44% 2.25%
Net Profit marain (%) frefer note (m)l 1.79% 1.16%
" Represents value less than 0.01.
• Net profit after tax excluding dividend income and one-off tax expenses in respect of earlier years is " 482. 79
(PY: t 263.33) and related EPS is ~ 6.18 (PY: t 3.38)
Formulae for calculation of ratios are as follows:
(a) Debt service coverage ratio = (Profit/(loss) before tax - Dividend income + Finance cost)/ (Finance cost+
Repayment of Long-term loans during the year)
For the purpose of calculation, loans having original maturity of more than 360 days are considered as
Long-term loans.
(b) Interest service coverage ratio** = (Profit/(loss) from ordinary activities before tax - Dividend income +
Finance cost - Interest income earned on surplus funds) / (Finance cost - Interest income earned on
surplus funds).
(c) Debt equity ratio= (Total debt- Cash and cash equivalents)/ (Total equity- Investments in subsidiarie~)
(d) Net worth = Equity share capital + Other equity
(e) Current ratio = Current assets/ Current liabilities
(f) Current liabilities ratio= Current liabilities/ Total liabilities
(g) Long term debt to Working capital = Long term borrowings (including current portion of long-term
borrowings)/ Working capital
Working capital= Current assets (excluding Assets classified as held for sale) - Current liabilities (excluding
current maturities of long term debt, interest accrued on borrowings).
(h) Bad debts to Accounts receivable ratio = Bad debts / Trade receivables
(i) Total debts to Total assets ratio= (Non-current borrowings+ Current borrowings) I Total assets
0) Debtors' turnover ratio (annualized) = Revenue from operations / Average Trade receivables
(k) Inventory turnover ratio (annualized) = (Purchases of traded goods + Changes in inventories of traded
goods)/ Average Inventories
(I) Operating margin (%) = (Profit before tax + Finance costs - Dividend income) I Revenue from operations

V
 (m) Net profit margin (%)=Net profit after tax excluding dividend income and tax expenses in respect of earlier
years I Revenue from operations
** Since interest income has been obtained from surplus funds, the same has been adjusted with interest
expense for interest service coverage ratio computation.

11. The Standalone and Consolidated financial results of the Company for the Quarter/ Year Ended
March 31, 2022 have been filed with the National Stock Exchange of India Limited (NSE) and
BSE Limited (BSE) and are available in Company's website www.redingtongroup.com.

For Redington (India) Limited

fJLft0~
S V Krishnan
Place : Chennai Whole-time Director and
Date : May 21, 2022 Global Chief Financial Officer

V
 BS R & Co. LLP
Chartered Accountants
KRM Tower, 1•• & 2 nd Floors , Telephone +91 44 4608 3100
No.1, Ham ngton Road , Chelpet, Fax +91 44 4608 3199
Chenna l - 600 031 , India

Independent Auditors Report

To the Board of Directors of Redington (India) Limited
Report on the audit of the Standalone Annual Financial Results

Opinion

We have audited the accompanying standalone annual financial results of Redington (India) Limited
(hereinafter referred to as the "Company") for the year ended 31 March 2022, attached herewith, (in which
are included financial results of a foreign branch) being submitted by the Company pursuant to the
requirement of Regulation 33 and Regulation 52(4) of the Securities and Exchange Board of India (listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended ("listing Regulations"), as
prescribed in Securities and Exchange Board of India operational circular
SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 .
In our opinion and to the best of our information and according to the explanations given to us and based
on the consideration of the report of the branch auditors on separate audited financial statements of the
branch, the aforesaid standalone annual financial results:

a. are presented in accordance with the requirements of Regulation 33 and Regulation 52(4) of the
Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular
SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 in this regard; and
b. give a true and fair view in conformity with the recognition and measurement principles laid down in
the applicable Indian Accounting Standards, and other accounting principles generally accepted in
India, of the net profit and other comprehensive income and other financial information for the year
ended 31 March 2022 .

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section
143(10) of the Companies Act, 2013 ("the Act") . Our responsibilities under those SAs are further described
in the Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results section of our
report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute
of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of
the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled
our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We
believe that the audit evidence obtained by us.and branch auditors in terms of their report referred to in
"Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion on the
standalone annual financial results.

Management's and Board of Directors' ResponslblllUes for the Standalone Annual Financial
Results

These standalone annual financial results have been prepared on the basis of the standalone annual
financial statements.
The Company's Management and the Board of Directors are responsible for the preparation and
presentation of these standalone annual financial results that give a true and fair view of the net profiU
loss and other comprehensive income and other financial information in accordance with the recognition
and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of
the Act and other accounting principles generally accepted in India and in compliance with Regulation 33
and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India
operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 . This responsibility also
includes maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguarding of the assets of the Company and for preventing and detecting frauds and other

8 SR & Co {1 p,artn1rs tup firm Wllh Registrallon No BM 1223) convan ed lnlo B S R & Co LLP (1 14th Floor, Centra l IJ W ng and North C W ng, Nuco IT Parli: 4, Nesco
LJmt&d lllbillty P1r1net'5h1p'Mlh LLP R11g11tr1tion No MB-9 181) 'Mlh 11ll11d lrom Oc tober 14, 2013 C1nter. N
1
1111m E1pr11u H,ghMy. Goregaon (East), Mu~1 - 400063
 BS R & Co. LLP

Independent Auditor's Report (Continued)

Redington (India) Limited
irregularities; selection and application of appropriate accounting policies ; making judgments and
estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for ensuring accuracy and completeness of the
accounting records , relevant to the preparation and presentation of the standalone annual financial results
that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone annual financial results , the Management and the Board of Directors are
responsible for assessing the Company's ability to continue as a going concern , disclosing , as applicable,
matters related to going concern and using the going concern basis of accounting unless the Board of
Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative
but to do so.

The Board of Directors is responsible for overseeing the Company's financial reporting process .

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results
as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of
these standalone annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the standalone annual financial results,
whether due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
not detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control .
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible
for expressing our opinion through a separate report on the complete set of financial statements on
whether the company has adequate internal financial controls with reference to financial statements
in place and the operating effectiveness of such controls .
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures in the standalone annual financial results made by the Management
and Board of Directors.
Conclude on the appropriateness of the Management and Board of Directors use of the going concern
basis of accounting and, based on the audit evidence obtained , whether a material uncertainty exists
related to events or conditions that may cast significant dpubt on the appropriateness of this
assumption . If we conclude that a material uncertainty exists, we are required to draw attention in our
auditor's report to the related disclosures in the standalone annual financial results or, if such
disclosures are inadequate, to modify our opinion . Our conclusions are based on the audit evidence
obtained up to the date of our auditor's report. However, future events or conditions may cause the
Company to cease to continue as a going concern .

Evaluate the overall presentation, structure and content of the standalone annual financial results,
including the disclosures, and whether the standalone annual financial results represent the
underlying transactions and events in a manner that achieves fair presentation .

- Obtain sufficient appropriate audit evidence regarding the financial information of the branch of the
Company to express an opinion on the standalone annual financia l results. We are responsible for
the direction , supervision and performance of the audit of financial statements of the Company of
which we are the independent auditors . For the branch included in the standalone annual financial
results, which have been audited by branch auditors, such branch auditors remain responsible for the

w
direction, supervision and performance of the audit carried out by them . We remain solely responsible
 BS R & Co. LLP

Independent Auditor's Report (Continued)

Redington (India) Limited
for our audit opinion . Our responsibilities in this regard are further described in sub paragraph (a) of
the "Other Matters" paragraph in this audit report.
We c_o mmunicate with those charged with governance regarding, among other matters, the planned scope
and timing oHhe audit and significant audit findings, including any significant deficiencies in internal control
that we Ident1fy during our audit.

We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.

Other Matters

a. The standalone annual financial results include the audited financial results of a foreign branch,
whose financial statements reflect total assets (before accounting adjustments) of INR 171.47 crores
as at 31 March 2022, total revenue (before accounting adjustments) of INR 157.26 crores and total
net profit after tax (before accounting adjustments) of INR 2.05 crores and net cash outflows (before
accounting adjustments) of INR 2.39 crores for the year ended on that date, as considered in the
standalone annual financial results , which has been audited by its branch auditor. The branch
auditor's report on financial statements of the branch has been furnished to us by the management.
Our opinion on the standalone annual financial results, in so far as it relates to the amounts and
disclosures included in respect of the branch, is based solely on the report of such branch auditors .
The branch is located outside India whose financial statements have been prepared in accordance
with accounting principles generally accepted in its country and which have been audited by branch
auditors under generally accepted auditing standards applicable in its country. The Company's
management has converted the financial statements of such branch located outside India from
accounting principles generally accepted in its country to accounting principles generally accepted in
India. We have audited these conversion adjustments made by the Company's management. Our
opinion in so far as it relates to the balances and affairs of such branch located outside India is based
on the report of branch auditors and the conversion adjustments prepared by the management of the
Company and audited by us.
Our opinion is not modified in respect of this matter.
b. The standalone annual financial results include the results for the quarter ended 31 March 2022 being
the balancing figure between the audited figures in respect of the full financial year and the published
unaudited year to date figures up to the third quarter of the current financial year which were subject
to limited review by us.

For B S R & Co. LLP

Chartered Accountants
Firm's Registration No.: 101248W/W-100022

\~maa Partner

Chennai Membership No.: 203491

21 May 2022 UDIN:22203491AJJDCJ4228

BS R & Co. LLP
Chartered Accountants
KRM Towe r, 1 ll & 2~d Floors Telephone: +91 44 4608 31 00
No.1, Harrington Road , Cheipet, Fax +91 44 4 608 3199
Chennal - 600 0 31, Ind ia

lndeoendent Auditors Reoort

To the Board of Directors of Redington (India) Limited
Report on the audit of the Consolidated Annual Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of Redington (India) Limited
(hereinafter referred to as the "Holding Company") and its subsidiaries (Holding Company and its
subsidiaries together referred to as "the Group") and its associates for the year ended 31 March 2022 ,
attached herewith, (in which are included financial results of a foreign branch) being submitted by the
Holding Company pursuant to the requirement of Regulation 33 and Regulation 52(4) of the Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 , as
amended ("Listing Regulations") , as prescribed in Securities and Exchange Board of India operational
circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021.
In our opinion and to the best of our information and according to the explanations given to us and based
on the consideration of the report of the branch auditors on audited financial results of the branch and of
the other auditors on separate/ consolidated audited financial statements of the subsidiaries and
associates , the aforesaid consolidated annual financial results:
a. include the annual financial results of the entities mentioned in Annexure A to this report:
b. are presented in accordance with the requirements of Regulation 33 and Regulation 52(4) of the
Listing Regulations , as prescribed in Securities and Exchange Board of India operational circular
SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 in this regard ; and
c. give a true and fair view in conformity with the recognition and measurement principles laid down in
the applicable Indian Accounting Standards, and other accounting principles generally accepted in
India, of consolidated net profit and other comprehensive income and other financial information of
the Group for the year ended 31 March 2022 .

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section
143(1 O) of the Companies Act, 2013 ("the Act") . Our responsibilities under those SAs are further described
in the Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results section of our
report. We are independent of the Group, and its associates in accordance with the Code of Ethics issued
by the Institute of Chartered Accountants of India together with the ethical requirem ents that are relevant
to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we
have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of
Ethics. We believe that the audit evidence obtained by us along with the consideration of reports of the
branch auditors and other auditors referred to in sub paragraph (a) of the "Other Matters" paragraph below,
is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.

Management's and Board of Directors' Responsibilities for the Consolidated Annual Flnancial
Results

These consolidated annual financial results have been prepared on the basis of the consolidated annual
financial statements.
The Holding Company's Management and the Board of Directors are responsible for the preparation and
presentation of these consolidated annual financial results that give a true and fa ir view of the consolidated
net profiU loss and other comprehensive income and other financial information of the Group including its
associates in accordance with the recognition and measurement principles laid down in Indian Accounting
Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in

R1gi11er1d Olrica

BS R & CO (a partne r1hlp r,rm with R1g l11t11lon No 8"6 1223) corwert1d into B S R & Co LLP (1 141h Floor, Central B Wng and Notlh C W ng. NelCO IT Par\ 4, NIKO
l.lmltad W biUy P1rtn1rih1p with LLP Regi t lrl tlon No MB-818 1) Wl lh •rfltd fromOclober 14 , 2013 Cenler, W.11em E•p,-u H.gh-y, Goregaon (EHi), Mu n-ti.a, _ 400063
8 SR & Co. LLP

Independent Auditor's Report (Continued)

Redington (India) Limited
India and _in compliance with Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed
in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10
August 2021 . The respective Management and Board of Directors of the companies included in the Group
and of its associates are responsible for maintenance of adequate accounting records in accordance with
the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting
frauds and other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and the design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy
and completeness of the accounting records, relevant to the preparation and presentation of the
consolidated annual financial results that give a true and fair view and are free from material misstatement,
whether due to fraud or error, which have been used for the purpose of preparation of the consolidated
annual financial results by the Management and the Board of Directors of the Holding Company, as
aforesaid.
In preparing the consolidated annual financial results, the respective Management and the Board of
Directors of the companies included in the Group and of its associates are responsible for assessing the
ability of each company to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the respective Board of Directors either
intends to liquidate the company or to cease operations, or has no realistic alternative but to do so .
The respective Board of Directors of the companies included in the Group and the respective Board of
Directors of its associates is responsible for overseeing the financial reporting process of each company .

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results
as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion . Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of
these consolidated annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the consolidated annual financial results,
whether due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
not detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion , forgery, intentional omissions, misrepresentations, or the override of
internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible
for expressing our opinion through a separate report on the complete set of financial statements on
whether the company has adequate internal financial controls with reference to financial statements
in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures in the consolidated annual financial results made by the
Management and Board of Directors.
Conclude on the appropriateness of the Management and Board of Directors use of the going concern
basis of accounting and, based on the audit evidence obtained , whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the appropriateness of this
assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our
auditor's report to the related disclosures in the consolidated annual financial results or, if such
disclosures are inadequate, to modify our opinion . Our conclusions are based on the audit evidence
obtained up to the date of our auditor's report. However, future events or conditions may cause the
Group and its associates to cease to continue as a going concern .
Evaluate the overall presentation, structure and content of the consolidated annual financial results,
 BS R & Co. LLP

Independent Auditor's Report (Continued)

' Redington (India) Limited
including the disclosures, and whether the consolidated annual financial results represent the
underlying transactions and events in a manner that achieves fair presentation .

Obtain sufficient appropriate audit evidence regarding the financial information of the entities within
the group and its associates to express an opinion on the consolidated annual financial results . We
are responsible for the direction, supervision and performance of the audit of financial information of
such entities included in the consolidated annual financial results of which we are the independent
auditors. For the other entities and branch included in the consolidated annual financial results, which
have been audited by other auditors and branch auditors , such other auditors and branch auditors
remain responsible for the direction. supervision and performance of the audits carried out by them .
We remain solely responsible for our audit opinion . Our responsibilities in this regard are further
described in sub paragraph (a) of the "Other Matters" paragraph in this audit report.
We communicate with those charged with governance of the Holding Company and such other entities
included in the consolidated annual financial results of which we are the independent auditors regarding,
among other matters, the planned scope and timing of the audit and significant audit findings, including
any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence , and where applicable, related
safeguards.
We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the
Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations , to the extent
applicable.

Other Matters

a. The consolidated annual financial results include the audited financial results of a foreign branch,
whose financial statements reflect total assets (before consolidation adjustments) of INR 171.47
crores as at 31 March 2022, total revenue (before consolidation adjustments) of INR 157.26 crores,
total net profit after tax (before consolidation adjustments) of INR 2.05 crores and net cash outflows
(before consolidation adjustments) of INR 2.39 crores for the year ended on that date, as considered
in the consolidated annual financial results, which have been audited by its branch auditor. The branch
auditor's report on financial statements of the branch have been furnished to us by the management.
Our opinion on the consolidated annual financial results, in so far as it relates to the amounts and
disclosures included in respect of the branch , is based solely on the report of such auditors and the
procedures performed by us are as stated in paragraph above .
The consolidated annual financial results include the audited financial results of two foreign
subsidiaries (which included the financial statements of its step-down subsidiaries), an Indian
subsidiary and a division of another Indian subsidiary, whose financial statements reflect total assets
(before consolidation adjustments) of INR 11 ,063 .85 crores as at 31 March 2022, total revenue
(before consolidation adjustments) of INR 35,530.91 crores and total net profit after tax (before
consolidation adjustments) of INR 818 .25 crores and net cash outflows (before consolidation
adjustments) of INR 116.46 crores for the year ended on that date, as considered in the consolidated
annual financial results, which have been audited by their respective independent auditors. The
consolidated annual financial results also include the Group's share of total net profit after tax of INR
Nil crores for the year ended 31 March 2022 , as considered in the consolidated annual financial
results, in respect of its associates, whose financial statements have been audited by their respective
independent auditors. The independent auditor's report on financial statements of these entities have
been furnished to us by the management.

Our opinion on the consolidated annual financial results , in so far as it relates to the amounts and
disclosures included in respect of these entities , is based solely on the report of such auditors and
the procedures performed by us are as stated in paragraph above.

The branch and certain of these subsidiaries are located outside India whose financial statements
have been prepared in accordance with accounting principles generally accepted in their respective
 BS R & Co. LLP

Independent Auditor's Report (Continued)

Redington (India) Limited
countries and which have been audited by branch auditors and other auditors under generally
accepted auditing standards applicable in their respective countries. The Holding Company's
management has converted the financial statements of such branch and subsidiaries located outside
India from accounting principles generally accepted in their respective countries to accounting
principles generally accepted in India. We have audited these conversion adjustments made by the
Holding Company's management. Our opinion in so far as it relates to the balances and affairs of
such branch and subsidiaries located outside India is based on the reports of branch auditors and
other auditors and the conversion adjustments prepared by the management of the Holding Company
and audited by us.
Our opinion on the consolidated annual financial results is not modified in respect of the above matters
with respect to our reliance on the work done and the reports of the branch and other auditors.
b. The consolidated annual financial results include the results for the quarter ended 31 March 2022
being the balancing figure between the audited figures in respect of the full financial year and the
published unaudited year to date figures up to the third quarter of the current financial year which
were subject to limited review by us.

For B S R & Co. LLP

Chartered Accountants
Firm's Registration No.:101248W/W-100022

S Sethuraman
Partner
Chennai Membership No.: 203491
21 May 2022 UDIN:22203491AJJDIW9996
BS R & Co. LLP

Independent Auditor's Report (Continued)

Redington (India) Limited
Annexure A to the Independent Auditors' Report

The consolidated annual financial results include results of the following entities:

Sr. No Name of component Relationship

1 Redington International Mauritius Limited, Mauritius Direct Subsidiary

2 Redington Distribution Pte Ltd, Singapore Direct Subsidiary

3 ProConnect Supply Chain Solutions Limited , India Direct Subsidiary

4 Redserv Global Solutions Limited, India (from 21 January Direct Subsidiary

2022)

5 Redserv Business Solutions Private Limited, India Step-down subsidiary

6 Rajprotim Supply Chain Solutions Limited, India (merged Step-down subsidiary

with ProConnect Supply Chain Solutions Limited, India
with an appointed date of 1 April 2020)

7 Redington SL Private Limited, Sri Lanka Step-down subsidiary

8 Redington Bangladesh Limited, Bangladesh Step-down subsidiary

9 Redington Gulf FZE, Dubai, UAE Step-down subsidiary

10 Redington Turkey Holdings S.A.R.L., Grand Duchy of Step-down subsidiary

Luxembourg

11 Arena International FZE, Dubai, UAE Step-down subsidiary

12 Proconnect Supply Chain Logistics LLC , Dubai, UAE Step-down subsidiary

13 Arena Bilgisayar Sanayi ve Ticaret A.S., Turkey Step-down subsidiary

14 Redington Kenya Limited , Kenya Step-down subsidiary

15 Redington Gulf & Co. LLC, Oman Step-down subsidiary

16 Cadensworth FZE , Dubai, UAE Step-down subsidiary

17 Redington Egypt Ltd . (Limited Liability Company), Egypt Step-down subsidiary

18 Redington South Africa (Ply) Ltd , South Africa (formerly Step-down subsidiary
known as Ensure IT Services (Ply) Ltd .)

19 Ensure Services Arabia LLC, Kingdom of Saudi Arabia Step-down subsidiary

20 Redington Middle East LLC, Dubai, UAE Step-down subsidiary

21 Ensure Services Bahrain S.P.C, Kingdom of Bahrain Step-down subsidiary

22 Redington Limited , Ghana Step-down subsidiary

23 Africa Joint Technical Services, Libya Step-down subsidiary

24 Redington Uganda Limited, Uganda Step-down subsidiary

25 Redington Kenya (EPZ) Limited , Kenya Step-down subsidiary

8 SR & Co. LLP

Independent Auditor's Report (Continued)

Redington (India) Limited
Sr. No Name of component Relationship

26 Redington Rwanda Ltd., Rwanda Step-down subsidiary

27 Cadensworth United Arab Emirates (LLC), Dubai , UAE Step-down subsidiary

28 Redington Gulf FZE Co, Iraq Step-down subsidiary

29 Redington Qatar WLL, Qatar Step-down subsidiary

30 Redington Qatar Distribution WLL. Qatar Step-down subsidiary

31 Redington Kazakhstan LLP , Kazakhstan Step-down subsidiary

32 Redington Tanzania Limited , Tanzania Step-down subsidiary

33 Red ington Morocco Ltd., Morocco Step-down subsidiary

34 Redington Angola Ltd., Angola Step-down subsidiary

35 Redington Senegal Limited S.A.R.L, Senegal Step-down subsidiary

36 Redington Saudi Arabia Distribution Company, Saudi Step-down subsidiary

Arabia

37 Ensure Technical Services (PTY) Ltd ., South Africa Step-down subsidiary

38 PayNet Odeme Hizmetleri A.S., Turkey Step-down subsidiary

39 CDW International Trading FZCO, Dubai, UAE Step-down subsidiary

40 RNDC Alliance West Africa Limited, Nigeria Step-down subsidiary

41 Redington Turkey Teknoloji A.S., Turkey (Formerly known Step-down subsidiary

as Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S.)

42 Proconnect Saudi LLC, Saudi Arabia Step-down subsidiary

43 Redington Distribution Company, Egypt Step-down subsidiary

44 Ensure Middle East Technology Solutions LLC , UAE Step-down subsidiary

45 Citrus Consulting Services FZ LLC, Dubai, UAE Step-down subsidiary

46 Arena Mobile lletisim Hizmetteri ve Turketici Elektronigi Step-down subsidiary

Sanayi ve Ticaret A.S., Turkey

47 Online Elektronik Ticaret Hizmelleri A.S ., Turkey Step-down subsidiary

48 Payne! (Kibris) Odeme Hizmelleri Limited , Cyprus Step-down subsidiary

49 Redington Cote d'Ivoire SARL, Cote d'Ivoire Step-down subsidiary

50 Redington Saudi for Trading, Saudi Arabia Step-down subsidiary

51 Ensure Gulf FZE , UAE Step-down subsidiary

52 Ensure Solutions Nigeria Limited, Nigeria Step-down subsidiary

53 Ensure Technical Services Kenya Limited , Kenya Step-down subsidiary

BS R & Co. LLP

Independent Auditor's Report (Continued)

Redington (India) Limited
Sr. No Name of component Relationship

54 Ensure Services Uganda Limited, Uganda Step-down subsidiary

55 Ensure Technical Services Tanzania Limited, Tanzania Step-down subsidiary

56 Ensure Ghana Limited , Ghana Step-down subsidiary

57 Ensure Technical Services Morocco Limited (Sari) , Step-down subsidiary

Morocco

58 Ensure Middle East Trading LLC, UAE Step-down subsidiary

59 Ensure Services Limited, Egypt Step-down subsidiary

60 Redington Bahrain WLL, Bahrain Step-down subsidiary

61 Redington Gulf FZE Jordan, Jordan Step-down subsidiary

62 Brightstar TelekomOnikasyon ve Da91t1m Ltd . ~ti. , Turkey Step-down subsidiary

63 MPX lleti~im ve Servis Limited ~irketi, Turkey Step-down subsidiary

64 Redington (India) Investments Limited, India Associate

65 Currents Technology Retail (India) Limited , India Subsidiary of Associate