Buy Info Edge India; target of Rs 9100: Sharekhan

Sharekhan's research report on Info Edge India

Info Edge’s standalone revenue stood at Rs. 672 crore, up 12.8% y-o-y, slightly missing our estimate of Rs. 682 crore. EBITDA margin expanded by 130 bps q-o-q/270 bps y-o-y to 43.1%, beating our estimate of 41%. The recruitment business is demonstrating sustained growth across segments, driven by strengthened go-to-market efforts, expansion into new client segments, and strong performance from niche businesses.

Outlook

We roll forward to FY27E and maintain BUY on Info Edge with SOTP-based revised PT of Rs. 9,100. At CMP, the stock trades at 71.7x FY27E EPS and 58.2x FY27E EV/EBITDA.