The Crux
Info Edge has been a favorite stock for investors looking to bet on the India tech opportunity, as its share price has gone up by more than 150% since the lockdowns began in April last year. It has a market capitalization of close to $8.5 billion.
The company’s net sales were down by about 14% at Rs 1,099 crore in FY21 despite a significant recovery in the fourth quarter. But it reported a net profit of Rs 1,409 crore at a consolidated level mostly due to unrealized gains in the valuations of its IPO-bound portfolio companies Zomato and Policybazaar.
There is more cooking at Info Edge, going by the company’s call with analysts on Monday. Here are our key takeaways:
Info Edge is sitting on a cash pile of Rs 3,592 crore, a chunk of which came from an institutional placement last year. This will further get boosted with the public offering of Zomato, where it plans to sell shares worth Rs 750 crore. So that will be over Rs 4,350 crore of cash in the bank soon.
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