Redington India - An under the radar compounder

Summary

Redington is an IT hardware distributor with operations across India, Middle East, Turkey and Africa. It has very low debt, grown FCF at 20% p.a for last 10 years and is currently trading at 6.5% FCF yield. They distribute laptops, PCs, mobiles, networking, datacenter hardware and tablets from all major brands (Samsung, Apple, Lenovo etc.) to bot…