Buy Info Edge (India); target of Rs 4676: Sharekhan

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Sharekhan's research report on Info Edge (India)

For Q3FY23, Info Edge standalone revenues at Rs. 555.2 crore, up 33.4% y-o-y, in-line with our estimate. EBITDA margin at 39.1%, improved 450 bps q-o-q and also beat estimates by ~400 bps led by a sequential decline in advertising & promotion cost and Network, Internet and direct charges. Revenue growth was aided by strong traction in billings, up ~15 y-o-y, led by~18% y-o-y growth in recruitment and~ 16% y-o-y growth in 99acres. Naukri’s EBITDA margin continued to improve at 62.9%, up 210 bps q-o-q. Management stated that it experienced longer sales cycle and spend optimization during the quarter especially for IT. The management stated that the IT hiring is muted as IT is facing some slowdown while non-IT hiring such as insurance, hospitality, retail and banking posted robust growth.

Outlook

We maintain a Buy on Info Edge with a revised PT of Rs. 4,676 given its leadership position in Recruitment and real estate verticals but we have lowered the target price to reflect lower EV/EBITDA multiple for recruitment business (due to slowdown in IT hiring ) and current market value of investment in Zomato and policy bazaar. At CMP the stock trades at 56.1x/50.8x FY24E/FY25E EPS and 49.9x/44.3x FY24E/ FY25E EV/EBITDA.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Info Edge (India) - 10 -03 - 2023 - khan