Redtape gains after shareholders approve Shuja Mirza?s re-appointment as MD

Redtape added 1.71% to Rs 124.55 after shareholders at the company?s annual general meeting approved the re-appointment of Shuja Mirza as managing director (MD) for a five-year term effective from 1 April 2027.

Shuja Mirza holds a degree in Science from California State University, USA, and has extensive experience in marketing. He has been overseeing Redtape?s pan-India operations, including product design, development and manufacturing. He also played a key role in establishing the company?s retail and online divisions, supporting business expansion and growth. With international market exposure, he is responsible for driving diversification and strengthening the company?s operations.

Redtape manufactures and markets sports and athleisure footwear along with a wide range of garments and accessories, catering to consumers across economy, mid and premium price segments. The company serves diverse age groups and occasions, positioning itself as a one-stop fashion retailer with offerings spanning both casual and formal footwear. Its products are distributed through multiple channels, including e-commerce platforms, the company?s own website and exclusive brand outlets across Tier 1, Tier 2 and Tier 3 cities in India.

On consolidated basis, the company?s net profit increased 15.23% YoY but declined 36.35% QoQ to Rs 44.48 crore in Q1 FY27. Net sales increased 3.65% YoY but fell 28.75% QoQ to Rs 481.28 crore in Q1 FY27.

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