External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<div><ul><li>Indiamart have reported consistent growth in registered buyers, registerd buyers grew to 149 Mn showed a growth of 4.2% QoQ.</li></ul><div><div><div><div><ul><li>Indiamart has also expanded its foothold on the number of the products live on the platform, total products live on the platform stood at 83mn grew 3.75% QoQ.</li></ul><div><div><div><div><ul><li>Total business enquiries delivered stood at 120 Mn demostrated a growth of 2.6% QoQ. Annualised ARPU for Q4 FY22 declind to Rs. 47,400 but likely to improve with better offering mix.</li></ul></div></div></div></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Indiamart have reported consistent growth in registered buyers, registerd buyers grew to 149 Mn showed a growth of 4.2% QoQ.Indiamart has also expanded its foothold on the number of the products live on the platform, total products live on the platform stood at 83mn grew 3.75% QoQ.Total business enquiries delivered stood at 120 Mn demostrated a growth of 2.6% QoQ. Annualised ARPU for Q4 FY22 declind to Rs. 47,400 but likely to improve with better offering mix.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indiamart Intermesh Ltd - Robust Revenue Growth; Margins Decline

<ul><li>We assign 45x to the company's FY24E earnings of Rs 150 to arrive at the target price of Rs 6,800/share, implying an upside of 52% from the CMP.</li><li>.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We assign 45x to the company's FY24E earnings of Rs 150 to arrive at the target price of Rs 6,800/share, implying an upside of 52% from the CMP..Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

<p>IndiaMART delivered in line revenue and margin performance in 2QFY22. Paid suppliers increased by 4k (+3% QoQ and 6% YoY), while ARPU dipped by 2.6% QoQ due to a higher share of suppliers within a lower value package. Collections surged by 31% QoQ and 37% YoY, providing visibility on its near term revenue performance. We expect collections to continue to trend higher in coming quarters. Deferred revenue is up 4% QoQ and 20% YoY, which provides better visibility on FY23 revenue. Margin was in line, with EBITDA margin at 45.6% (est.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

IndiaMART delivered in line revenue and margin performance in 2QFY22. Paid suppliers increased by 4k (+3% QoQ and 6% YoY), while ARPU dipped by 2.6% QoQ due to a higher share of suppliers within a lower value package. Collections surged by 31% QoQ and 37% YoY, providing visibility on its near term revenue performance. We expect collections to continue to trend higher in coming quarters. Deferred revenue is up 4% QoQ and 20% YoY, which provides better visibility on FY23 revenue. Margin was in line, with EBITDA margin at 45.6% (est.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong collections to drive faster recovery

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

<p>LIC Housing Finance: LICHF disappointed, driven by elevated provisioning (1.1% of loans, annualised) and interest reversals (INR1.35bn). While asset quality improved across buckets, aggregate stressed pool (GS-II + GS-III + restructured) still remains elevated (12.6% vs. 13.6% in Jun'21), indicating that the path to normalisation is likely to be prolonged. The company shored up its GS-III provisions significantly to 43%, driving credit costs higher, although GS-II provisioning coverage continues to be subdued (0.2% PCR).</p>
<div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

LIC Housing Finance: LICHF disappointed, driven by elevated provisioning (1.1% of loans, annualised) and interest reversals (INR1.35bn). While asset quality improved across buckets, aggregate stressed pool (GS-II + GS-III + restructured) still remains elevated (12.6% vs. 13.6% in Jun'21), indicating that the path to normalisation is likely to be prolonged. The company shored up its GS-III provisions significantly to 43%, driving credit costs higher, although GS-II provisioning coverage continues to be subdued (0.2% PCR).
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Mphasis, Container Corporation, LIC Housing Finance and More

India

IndiaMart InterMesh Limited operates as an e-commerce company. The Company offers air coolers, tower fans, washing machines, mixer grinders, barcode printers, steel pipes, tubes, water tanks, roofing supplies, mobile phones, computers, automobile parts, and machine tools. IndiaMart Intermesh markets its products in India

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IndiaMart (INMART IN)

Indiamart Intermesh Ltd - Robust Revenue Growth; Margins Decline

IndiaMart Intermesh Ltd (Indiamart) reported strong revenue growth of 7% QoQ and stood at Rs 201 Cr in Q4FY22, reporting revenue growth of 13% YoY.

Axis Direct

Initiating Coverage:Indiamart Inter.

We assign 45x to the company's FY24E earnings of Rs 150 to arrive at the target price of Rs 6,800/share, implying an upside of 52% from the CMP.

Axis Direct

Strong collections to drive faster recovery

IndiaMART delivered in line revenue and margin performance in 2QFY22. Paid suppliers increased by 4k (+3% QoQ and 6% YoY), while ARPU dipped by...

Motilal Oswal

HSIE Results Daily: Mphasis, Container Corporation, LIC Housing Finance and More

LIC Housing Finance: LICHF disappointed, driven by elevated provisioning (1.1% of loans, annualised) and interest reversals (INR1.35bn). While...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Indiamart Intermesh Ltd - Robust Revenue Growth; Margins Decline

IndiaMart Intermesh Ltd (Indiamart) reported strong revenue growth of 7% QoQ and stood at Rs 201 Cr in Q4FY22, reporting revenue growth of 13% YoY.

Axis Direct

Initiating Coverage:Indiamart Inter.

We assign 45x to the company&#x27;s FY24E earnings of Rs 150 to arrive at the target price of Rs 6,800/share, implying an upside of 52% from the CMP.

Axis Direct

Strong collections to drive faster recovery

IndiaMART delivered in line revenue and margin performance in 2QFY22. Paid suppliers increased by 4k (+3% QoQ and 6% YoY), while ARPU dipped by...

Motilal Oswal

HSIE Results Daily: Mphasis, Container Corporation, LIC Housing Finance and More

LIC Housing Finance: LICHF disappointed, driven by elevated provisioning (1.1% of loans, annualised) and interest reversals (INR1.35bn). While...

HDFC Securities

We assign 45x to the company's FY24E earnings of Rs 150 to arrive at the target price of Rs 6,800/share, implying an upside of 52% from the CMP.