Info Edge India Ltd. (NAUKRI) AI Stock Analysis

• Market Cap: ₹635.39B
• Dividend Yield: 0.44%
• Average Volume (3M): 27.84K
• Price to Earnings (P/E): 79.5
• Beta (1Y): 1.44
• Revenue Growth: 15.26%
• EPS Growth: 181.33%
• Country: IN
• Employees: 5,883
• Sector: Services
• Sector Strength: N/A
• Industry: Internet Content & Information
• EPS (TTM): 4.47
• Shares Outstanding: 648,420,600
• 10 Day Avg. Volume: 22,588
• 30 Day Avg. Volume: 27,840
• PEG Ratio: 6.85
• Price to Book (P/B): 12.62
• Price to Sales (P/S): 154.55
• P/FCF Ratio: 555.51
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,480.00
• Price Target Upside: 10.75% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 16.85
• Revenue Forecast (FY): ₹30.37B

• Rating: 62 Neutral
• Price Target: ₹1,015.00 ▼(-24.04% Downside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is supported primarily by strong financial performance (high margins, solid growth, conservative leverage, and healthy cash generation). It is materially reduced by weak technicals (broad downtrend despite oversold signals) and an expensive valuation (very high P/E with limited dividend support).

Positive Factors

Market position & network effects

Info Edge’s ownership of market-leading platforms (notably Naukri) creates durable network effects: large jobseeker and recruiter pools increase match quality and willingness to pay for listings and subscriptions. This entrenched position supports recurring revenue and high customer retention over multiple quarters.

High and sustainable margins

Digital marketplace economics and scalable SaaS-like offerings drive strong gross and net margins. High operating leverage means incremental revenue flows largely to the bottom line, supporting durable profitability, internal funding for product development, and continued reinvestment without heavy cost increases.

Conservative balance sheet & cash generation

Extremely low leverage and a high equity ratio provide financial flexibility to invest in product, M&A, or weather downturns. Healthy free cash flow growth and strong operating cash conversion underpin sustainable capex and strategic investments while reducing refinancing and liquidity risk over the medium term.

Negative Factors

Declining return on equity

A falling ROE signals reduced capital efficiency versus historical levels, implying the business is generating lower returns on shareholder equity. If the trend persists, it can limit long-term shareholder value creation and indicate challenges scaling profits relative to equity base.

Revenue concentration in cyclical segments

Heavy reliance on recruitment and real estate verticals exposes revenue to hiring cycles and property market swings. Structural diversification is limited because adjacent businesses and minority investments offer less predictable cash flows, increasing earnings cyclicality over 2–6 months.

Historical cash flow and income volatility

Despite recent strong cash metrics, historical swings in net income and cash flow suggest operating or non-operating variability (investment mark-to-market, timing of monetization events). Such volatility complicates budgeting, forecasting, and consistent reinvestment plans over the medium term.

Info Edge India Ltd. Business Overview & Revenue Model

Company Description

Info Edge (India) Limited operates as an online classifieds company in the areas of recruitment, matrimony, real estate, and education and related services in India and internationally. It operates through Recruitment Solutions, 99acres, and Other segments. The company offers recruitment services through naukri.com, an online job website for job seekers and corporate customers, including hiring consultants; firstnaukri.com, a job search network for college students and recent graduates; naukrigulf.com, a website catering to Gulf markets; and quadranglesearch.com, a site that provides off-line placement services to middle and senior management, as well as Highorbit/iimjobs.com, zwayam.com, hirist.com, doselect.com, ambitionbox.com, bigshyft.com, and jobhai.com. It also provides 99acres.com, which offers listing of properties for sale, purchase, and rent; Jeevansathi.com, an online matrimonial classifieds services; and shiksha.com, an education classified website that helps students to decide their undergraduate and postgraduate options by providing useful information on careers, exams, colleges, and courses, as well as operates multiple dating platforms on the web through its mobile apps Aisle, Anbe, Arike and HeyDil. In addition, the company provides internet, computer, and electronic and related services; and software development, consultancy, technical support for consumer companies, SAAS providers, and other services in the field of information technology and product development, as well as brokerage services in the real estate sector. Further, it acts as an investment adviser and manager, financial and management consultant, and sponsor of alternative investment funds, as well as provides advertising space for colleges and universities on www.shiksha.com. Info Edge (India) Limited was incorporated in 1995 and is based in Noida, India.

How the Company Makes Money

Info Edge makes money primarily by monetizing traffic and user intent on its category-leading online platforms through subscriptions, listings, and advertising. (1) Recruitment (Naukri.com and related recruitment offerings): This is typically the largest revenue stream. Employers and recruiters pay for access to the resume database, job posting packages, and subscription plans for recruiting solutions. The company also earns from premium branding products for employers (e.g., featured employer visibility, targeted listings, and other recruitment marketing inventory) and may earn from ancillary recruitment services such as candidate assessments or related hiring solutions; if a specific product is not publicly detailed, it is null. (2) Real estate (99acres.com): Revenue is generated mainly from real estate developers, brokers, and agents who pay for property listings, visibility upgrades (featured listings, higher rank, banners), and lead-generation packages that deliver buyer/renter inquiries. Advertising from real estate-related brands can also contribute. (3) Matrimony (Jeevansathi.com): The platform is monetized via paid memberships/subscriptions that unlock contact/communication features and premium visibility for profiles, along with advertising and partnership-led campaigns where disclosed; otherwise null. (4) Education (Shiksha.com): The education business typically earns from lead generation and advertising—colleges, universities, and education service providers pay for student leads, sponsored placements, and marketing solutions. (5) Investments and other income: Info Edge has a history of holding minority stakes in other internet companies; it can generate gains/losses from fair-value changes, dividends, or exits (sales/IPO-related monetization) when such events occur, and it also earns interest/other income on cash and investments. Key factors that support earnings across segments include strong consumer traffic/brand recognition in India, network effects that attract both users and paying customers (recruiters, developers, institutions), and the ability to sell higher-value visibility and subscription products to business customers seeking qualified leads or candidates.

Info Edge India Ltd. Financial Statement Overview

Summary

Strong fundamentals supported by high profitability (gross margin 53.9%, net margin 33.8%) and solid revenue growth (+12.3% YoY). Balance sheet is very conservative (debt-to-equity 0.008; equity ratio 81.6%) and cash generation is healthy (FCF growth +17.9%; OCF/NI 0.91). Offsetting factors include historical volatility in net income/cash flow and low ROE (2.76%) with a declining trend.

Income Statement

Info Edge India Ltd. demonstrates strong profitability with a gross profit margin of 53.9% and a net profit margin of 33.8% for 2025. The company has shown a consistent revenue growth with a notable 12.3% increase from 2024 to 2025, reflecting effective business expansion. EBIT and EBITDA margins are solid at 30.6% and 73.0%, respectively, indicating efficient operational management. Despite the strong performance, past fluctuations in net income suggest potential volatility.

Balance Sheet

The company maintains a stable financial position with a low debt-to-equity ratio of 0.008, suggesting conservative leverage. The return on equity of 2.76% for 2025 indicates moderate profitability relative to shareholder equity. A high equity ratio of 81.6% underscores financial stability and low reliance on debt. However, the declining ROE from past years raises concerns about long-term profitability.

Cash Flow

Info Edge India Ltd. exhibits robust cash flow management with a free cash flow growth rate of 17.9% from 2024 to 2025, supporting future investments. The operating cash flow to net income ratio is 0.91, and the free cash flow to net income ratio is 0.82, indicating strong cash generation relative to net income. However, past fluctuations in cash flow metrics suggest potential challenges in maintaining consistent cash flow growth.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	30.68B	28.50B	25.36B	23.46B	15.89B	11.28B
Gross Profit	29.84B	14.07B	12.15B	11.01B	15.55B	4.80B
EBITDA	21.27B	22.16B	11.45B	4.62B	120.61B	18.69B
Net Income	13.18B	9.62B	5.75B	-1.07B	127.60B	14.16B
Balance Sheet
Total Assets	593.97B	427.71B	360.91B	166.60B	204.83B	63.29B
Cash, Cash Equivalents and Short-Term Investments	50.24B	42.49B	41.50B	35.22B	33.12B	30.54B
Total Debt	2.76B	2.67B	2.46B	1.08B	640.68M	650.89M
Total Liabilities	87.23B	59.55B	44.62B	22.34B	24.32B	8.54B
Stockholders Equity	486.10B	349.03B	302.62B	133.98B	172.41B	53.96B
Cash Flow
Free Cash Flow	3.11B	7.93B	6.73B	4.54B	6.86B	2.67B
Operating Cash Flow	3.33B	8.76B	7.02B	5.12B	7.07B	2.76B
Investing Cash Flow	-1.30B	-8.18B	-8.52B	-3.58B	-11.77B	-20.43B
Financing Cash Flow	-1.85B	-1.27B	1.20B	19.74M	346.35M	18.80B

Info Edge India Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1336.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NAUKRI, the sentiment is Negative. The current price of 1336.3 is above the 20-day moving average (MA) of 997.76, above the 50-day MA of 1142.43, and above the 200-day MA of 1319.00, indicating a bearish trend. The MACD of -49.32 indicates Negative momentum. The RSI at 36.55 is Neutral, neither overbought nor oversold. The STOCH value of 62.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NAUKRI.

Info Edge India Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDIAMART	76 Outperform	₹119.88B	17.72	―	1.33%	13.36%	24.85%
JUSTDIAL	74 Outperform	₹44.13B	11.09	―	―	6.97%	12.91%
WELENT	63 Neutral	₹63.63B	74.06	―	0.58%	9.11%	16.30%
NAUKRI	62 Neutral	₹635.39B	79.47	―	0.44%	15.26%	181.33%
MATRIMONY	62 Neutral	₹8.78B	34.55	―	1.88%	-4.85%	-29.49%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
NETWORK18	45 Neutral	₹47.62B	-277.61	―	―	-68.47%	-145.26%

Info Edge India Ltd. Corporate Events

Info Edge opens special window to regularise legacy physical share transfers

Info Edge (India) Ltd. has notified stock exchanges that it has published newspaper notices about a special one-year window for transfer, re-lodgement and dematerialisation of physical shares linked to transactions predating April 1, 2019. The move, carried out in line with a recent Securities and Exchange Board of India circular, is aimed at allowing shareholders whose earlier physical share transfer requests were rejected or left unattended due to documentation deficiencies another opportunity to regularise and demat their holdings, helping further the market-wide shift away from physical securities.

The company said the notice of this special window, which runs from February 5, 2026 to February 4, 2027, has been published in the March 6, 2026 editions of Financial Express and Jansatta. By formally communicating the extended facility through leading English and Hindi dailies as well as to the exchanges, Info Edge is reinforcing regulatory compliance and offering greater clarity and access to legacy shareholders still holding or transacting in physical share certificates.

Info Edge Schedules Investor Meeting With Invesco Mutual Fund

Info Edge (India) Ltd. has notified the stock exchanges that it will participate in a one-on-one virtual meeting with Invesco Mutual Fund on March 9, 2026, as part of its regular engagement with analysts and institutional investors. The company emphasized that no unpublished price-sensitive information will be disclosed during this interaction, directing stakeholders to its latest investor presentation on its website, underscoring its compliance focus and commitment to transparent investor communications.

Info Edge Releases Naukri JobSpeak Index for January 2026

Info Edge (India) Limited announced that the Naukri JobSpeak Index report for January 2026 has been released and is available on the company’s website, providing updated data and analytics on hiring trends across the Indian job market. The monthly JobSpeak Index tracks recruitment activity based on new job listings and recruiter searches on Naukri.com, offering stakeholders a detailed view of hiring momentum by industry, city, function and experience band, thereby reinforcing Info Edge’s role as a key barometer of employment and recruitment conditions in India.

Info Edge Finds No Material Financial Impact From 99acres Whistle-Blower Probe

Info Edge (India) Ltd has announced the conclusion of an independent investigation into a whistle-blower complaint relating to its 99acres business vertical, which was first disclosed to stock exchanges in September 2025. A specialist law firm and forensic experts appointed under the company’s whistle-blower policy have submitted their findings to the Audit Committee and Board, and the company has determined that the outcomes do not have a material impact on its financial statements, while implementing and planning remedial actions to address the issues raised.

Info Edge Restructures Agri-Tech Bets, Exits Gramophone Stake to Back Unnati with ₹126 Crore Plus Deal

Info Edge (India) Ltd has approved a transaction to exit its associate Agstack Technologies Pvt Ltd (Gramophone) and simultaneously deepen its investment in Akshamaala Solutions Pvt Ltd (Unnati) through its wholly owned investment arm, Startup Investments (Holding) Ltd. SIHL’s stake in Gramophone will first rise from 39.58% to 50.94% on an as-converted basis due to the valuation mechanics of an exit event, after which SIHL will transfer its entire 50.94% holding in Gramophone to Unnati for about ₹91.7 crore, receiving preference shares in Unnati amounting to 15.75% on a fully diluted basis as consideration. Alongside this share swap, SIHL plans a primary infusion of ₹35 crore into Unnati via additional preference shares, taking its aggregate stake in Unnati to 20.53%, which is expected to dilute to 18.48% after other Gramophone shareholders also become Unnati shareholders pursuant to a planned merger of Gramophone into Unnati. Following completion of the definitive agreements, Gramophone will cease to be a subsidiary of SIHL, while Unnati will be classified as an associate company at least until the merger is completed, indicating a strategic portfolio realignment within Info Edge’s unlisted investments and a consolidation of its exposure towards Unnati’s platform in the agri-tech ecosystem.

Info Edge Reshapes Agritech Portfolio With Gramophone Exit and Fresh Stake in Unnati

Info Edge (India) Limited’s board has approved a transaction to transfer, via its wholly owned subsidiary Startup Investments (Holding) Limited (SIHL), its entire stake in associate company Agstack Technologies Private Limited (Gramophone) to Akshamaala Solutions Private Limited (Unnati), while simultaneously taking an equity position in Unnati. SIHL’s interest in Gramophone will temporarily increase on an as-converted basis from 39.58% to 50.94% before being fully sold to Unnati for about Rs 91.7 crore, in exchange for preference shares giving SIHL a 15.75% fully diluted stake in Unnati, and SIHL will additionally invest Rs 35 crore as primary infusion into Unnati, raising its total holding to 20.53% (later expected to dilute to 18.48% after Gramophone’s merger into Unnati). As a result, Gramophone will cease to be a subsidiary of SIHL post-closing, and Unnati will become an associate company, indicating a strategic realignment of Info Edge’s agritech investments by consolidating exposure from Gramophone into a larger combined platform under Unnati, with implications for portfolio optimisation and potential scale benefits in the agritech ecosystem.