5 days Ago
JM Financial has a buy call on Info Edge (India) with a target price of Rs 7,800. The current market price of Info Edge (India) is Rs 6743.95.
the time period given by analyst is a year when Info Edge (India) price can reach the defined target. Info Edge, incorporated in 1995, is a Large Cap company with a market cap of Rs 83021.31 crore, operating in Services sector.
Info Edge (India) Ltd. key Products/Revenue Segments include Sale of services for the year ending 31-Mar-2024. Financials For the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 909.
48 crore, down -.60% from last quarter Total Income of Rs 914.95 crore and up 37.
84% from last year same quarter Total Income of Rs 659.81 crore. The company has reported net profit after tax of Rs 294.
22 crore in the latest quarter. The company?s top management includes Mr.Kapil Kapoor, Ms.
Aruna Sundararajan, Mr.Pawan Goyal, Mr.Sanjiv Sachar, Mr.
Ashish Gupta, Mr.Sharad Malik, Ms.Geeta Mathur, Mr.
Chintan Thakkar, Mr.Hitesh Oberoi, Mr.Sanjeev Bikhchandani, Mr.
Arindam Kumar Bhattacharya. Company has S R Batliboi & Associates LLP as its auditors. As on 31-12-2024, the company has a total of 13 Crore shares outstanding.
Investment RationaleSegment-wise billings were reported by the company on 8th April. Recruitment segment billings growth accelerated to 18.4% YoY from 15.
2% YoY in the previous quarter. It is the fastest billings growth over the last 10 quarters, attributable to strong trends across IT as well as non-IT. 4Q is seasonally a very strong quarter for the recruitment business, leading us to believe that the trend improvement was led by a mix of strong renewal demand and unique client additions.
99acres billings grew 21.9% YoY, broadly sustaining the strong growth momentum of 3Q. Others segment (which includes Jeevansathi and Shiksha) saw 18.
7% YoY growth. Standalone revenue should see growth of 17.9% YoY, led by 14.
5%/28.3%/26.7% YoY growth in Recruitment/99acres/Others segment respectively.
We forecast EBIDTA margin to expand by c.309bps YoY to 43.7% (43.
1% in 3QFY25). Segment-wise, PBT margin for recruitment business could expand 246bps YoY to 59.5% (58.
9% in 3Q). JM Financial, however, sees material improvement in PBT margins of 99acres and Jeevansathi by 13ppts /38ppts YoY respectively, due to tighter control over A&P spends. Overall, we forecast EBITDA/Adj.
PAT growth of c.27%/ 31% YoY. Management commentary on 1) demand environment in IT and non IT recruitment, 2) 99acres /Jeevansathi path to operating profit break-even and 3) investee companies likely to go public in the next 12-18 months should be keenly watched.
Promoter/FII Holdings Promoters held 37.63 per cent stake in the company as of 31-Dec-2024, while FIIs owned 32.63 per cent, DIIs 18.
59 per cent..
