JM Financial has buy call on IndiaMART InterMESH with a target price of Rs 4920. The current market price of IndiaMART InterMESH NSE -1.12 % is Rs 4345. Time period given by analyst is one year when IndiaMART NSE -1.12 % InterMESH Ltd. price can reach deQned target.
IndiaMART InterMESH Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 13398.16 Crore) operating in Services sector.
IndiaMART InterMESH Ltd. key Products/Revenue Segments include Income From Information Services for the year ending 31-Mar-2021.
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 225.58 Crore, down -2.30 % from last quarter Total Income of Rs 230.90 Crore and up 6.91 % from last year same quarter Total Income of Rs 211.00 Crore. Company reported net proQt after tax of Rs 53.66 Crore in latest quarter.
The brokerage believes IndiaMART remains well-poised to report strong Consol. Revenue/EBITDA/EPS CAGR of 18%/26%/33% over FY23-25E due to robust collections trends and operating leverage in its core business. It re- iterates ‘BUY’ rating and roll-forward DCF (FCFF CAGR of 13.3% over the next 15 years, 5% terminal growth rate and 12% WACC) to set a Sep’23 TP of INR 4,920 (vs. INR 4,800 earlier). Its TP implies Sep’23 PER of 42x.