JM Financial has maintained its “buy” call on Info Edge (India) with a revised target price of Rs 7,800, down from Rs 8,750 earlier. The company’s current market price is Rs 6,381.35. Info Edge (India) is a large-cap company operating in the services sector and has a market capitalization of Rs 82,311.83 crore.
In its latest quarterly earnings, the company reported a consolidated total income of Rs 909.48 crore, down 0.60% from the previous quarter, but up 37.84% from the same quarter last year. The company’s net profit after tax was Rs 294.22 crore.
JM Financial made some changes to its standalone FY26-27 EPS forecast, reducing billings growth expectations in the recruitment segment, but offsetting this by improving trends in 99acres and other segments. The brokerage continues to use the SOTP valuation method to derive a March 2026 fair value of Rs 7,800, with a target multiple for the recruitment segment lowered from 55x to 50x.
The target price also reflects corrections in the market price of listed investee companies (Zomato and PB Fintech). The target price implies a FY27 PER valuation of 49x for the standalone business.
As of December 31, 2024, promoters held 37.63% stake in the company, while FIIs owned 32.63%, and DIIs owned 18.59%.