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Securities has buy call on Info Edge (India) with a target price of Rs 4700. The current market price of (India) is Rs 4118.35. Time period given by analyst is one year when Info Edge (India) Ltd. price can reach defined target.
Info Edge (India) Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 53040.85 Crore) operating in Services sector.
Info Edge (India) Ltd. key Products/Revenue Segments include Sale of services for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 699.86 Crore, up 31.09 % from last quarter Total Income of Rs 533.88 Crore and up 94.77 % from last year same quarter Total Income of Rs 359.33 Crore. Company reported net profit after tax of Rs 767.69 Crore in latest quarter.
Investment Rationale
The brokerage expects Info Edge to post a strong 21% revenue CAGR for FY22-24E, led by Naukri, 99acres, and Shiksha. The margin will expand due to non-linearity, Naukri margins will stabilise at 57-58% after delivering a 59% EBITDA margin in FY22, a multi-year high. We have a BUY rating and value Infoedge on a SoTP basis with a TP of INR 4,700, valuing the flagship recruitment business at 45x EV/EBITDA, assigning 5x EV/sales multiple to 99acres and 3x to Jeevansathi and Shiksha, while and Policybazaar have been considered at market value.
Promoter/FII Holdings
Promoters held 38.11 per cent stake in the company as of 30-Jun-2022, while FIIs owned 32.72 per cent, DIIs 16.37 per cent.
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