Sharekhan's research report on Affle 3i
Affle 3i is aiming for an over 20% organic revenue growth in FY26, with a medium-term goal of 10x growth. The company expects balanced growth in FY26 with growth driven by new logo addition in developed markets while wallet share increase from existing clients to majorly drive growth in India & Emerging markets. It is well-placed to capitailise robust growth opportunities across key verticals and markets as global digital spend continue to rise coupled with the shift towards performance-centric advertising.
Outlook
We maintain a Buy rating with a revised PT of Rs. 2,250 (54x FY27E EPS). At CMP, the stock trades at 59.7/47.1x FY26/27E EPS.
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