Subject:

Financial Management
CCA -1
COMPANY- Info Edge (India) Limited

PROJECT REPORT SUBMITTED TO

INDIRA INSTITUTE OF MANAGEMENT

MBA (2022-2024)
Class - FINANCE A
BY GROUP 3.2

SR.NO NAME ROLL.NO

1. Bhawana Kirsan 11
2. Pruthviraj Thakur. 32
3. Ruchika Rawal 36
4. Shubham Bhadange. 48
5. Sohan Joshi 55

1
TABLE OF CONTENTS

2
INTRODUCTION

ABOUT THE COMPANY-

The company Info Edge (India) Limited was incorporated on May 1, 1995 under the Companies Act, 1956
as Info Edge (India) Private Limited and became a public limited company on April 27, 2006. Starting with
a classified recruitment online business, naukri.com, Info Edge has grown and diversified rapidly, setting
benchmarks as a pioneer for others to follow. Driven by innovation, creativity, an experienced and talented
leadership team and a strong culture of entrepreneurship, today, it is India’s premier online classifieds
company in recruitment, matrimony, real estate, education and related services.

Info Edge has an in-depth understanding of the Indian consumer internet domain. With years of experience
in the domain, strong cash flow generation and a diversified business portfolio, it one of the very few
profitable pure play internet companies in the country.

With a network of 62 offices located in 43 cities throughout India, Info Edge has 4,049 employees engaged
in innovation, product development, integration with mobile and social media, technology and technology
updating, research and development, quality assurance, sales, marketing and payment collection. It has also
made forays abroad into the Gulf market with the website www.naukrigulf.com and currently has offices
Dubai, Bahrain, Riyadh and Abu Dhabi.

Brands created by Info Edge: under its product offerings –

In terms of accounting standards, Info Edge has the following subsidiary companies

 Naukri Internet Services Private Limited and Jeevansathi Internet Services Private Limited, which
own internet domain names and related trademarks

 Allcheckdeals India Private Limited which provides brokerage services in the real estate sector in
India;

 Info Edge (India) Mauritius Limited primarily to make overseas investments of the company (under
liquidation)

 Applect Learning Systems Private Limited which is engaged in business of kindergarten to class12
(K-12) assignment and tuitions through its online portal Meritnation.com;

 Zomato Media Private Limited, which operates an online food guide portal zomato.com; and Make
Sense Technologies Private Limited, owner of proprietary software for semantic search which
augments search capabilities for both recruiters and job seekers, principally on naukri.com.

Its business portfolio comprises:

3
Info Edge works across a number of industries and has developed a number of well-known brands as part of
its product line. The following are some of the major fields and names linked to Info Edge:

Recruitment: Online recruitment classifieds, www.naukri.com, a clear market leader in the Indian e-
recruitment space, www.naukrigulf.com, a job site focused at the Middle East market, offline executive
search (www.quadranglesearch.com) and a fresher hiring site (www.firstnaukri.com). Additionally, Info
Edge provides jobseekers value added services (Naukri Fast Forward) such as resume writing.

Quadrangle: Info Edge's recruitment process outsourcing (RPO) company, Quadrangle offers organisations
full-service recruitment solutions.

Ambition Box: Ambition Box is a platform that allows workers to review and assess their current or past
employers in an anonymous manner, giving job seekers useful information.

Matrimony: Online matrimony classifieds, www.jeevansathi.com, is among the top three in India’s online
matrimonial space, and has offline Jeevansathi Match Points and franchisees.

Real Estate: Online real estate classifieds, www.99acres.com, is India’s largest property marketplace
covering almost all the major cities and a large number of agents and developers.

Education: Online education classifieds, www.shiksha.com, is the smartest gateway for students to achieve
their goals. Meritnation is an online learning platform that provides interactive activities, live courses, and
study materials for kids in the K–12 market.

The company's spirit of entrepreneurship has also been evident in the investments it has made in early stage
companies/start-up ventures to tap into the growing and vibrant Indian internet market. Currently, the
company has investments in Zomato Media Private Limited (www.zomato.com); Applect Learning Systems
Private Limited (www.meritnation.com); Etechaces Marketing and Consulting Private Limited
(www.policybazaar.com); Kinobeo Software Private Limited (www.mydala.com); Canvera Digital
Technologies Private Limited (www.canvera.com); Happily Unmarried Marketing Private Limited
(www.happilyunmarried.com); Goa-based Mint Bird Technologies Private Limited
(www.vacationlabs.com); Mumbai based Green Leaves Consumer Services Private Limited
(www.bigstylist.com); and Rare Media Company Private Limited (bluedolph.in).

4
As we can see the maximum revenue for both the years 2020 as well 2021 came from naukari.com which is
about 70% of the total revenue which is followed by 99 acres which reduced from 18% to 16 % in 2021 as a
part of overall portfolio. The revenue For jeevansathi.com increased from 84.7 to 97 cr. The lowest % of
revenue of the total portfolio was by shiksha.

Competitors of Info edge Ltd –

 Just Dial: Just Dial is another Indian multinational internet company that operates a number of
online businesses, including a business directory, a classifieds website, and a financial services
platform.
 Times Jobs: Times Jobs is an Indian online job portal that is operated by The Times of India, one of
the largest newspapers in India.
 Monster.com: Monster.com is an American online job portal that operates in over 40 countries.
 LinkedIn: LinkedIn is a global professional networking platform that offers a variety of services to
its members, including job postings, networking, and learning opportunities.
 Shadi.com- It is an online website for match making which has one of the largest market cap in this
area thus giving tough competition to jeevansathi.com.

5
These companies compete with Info Edge in a number of ways, including:

 Product offerings: Each of these companies offers a variety of products and services that are similar
to those offered by Info Edge. For example, Just Dial, Naukri.com, and TimesJobs all offer job
listings, resume posting, and career counseling.
 Target market: These companies target a similar target market to Info Edge. For example, Just Dial,
Naukri.com, and TimesJobs all target job seekers and employers in India.
 Marketing and sales: These companies use a variety of marketing and sales strategies to attract
customers. For example, Just Dial, Naukri.com, and TimesJobs all use online advertising, print
advertising, and direct marketing. Info Edge is a well-established company with a strong brand
name. However, it faces stiff competition from these other companies. In order to maintain its market
share, Info Edge will need to continue to innovate and offer new products and services that meet the
needs of its customers.

Business model of Info Edge ltd-

Info Edge operates a diversified business model based on online platforms and services in the recruitment,
real estate, matrimony, and education sectors. The company leverages its digital platforms, extensive user
base, and network effects to generate revenue through various sources such as job listing fees, subscription
fees, advertising, and strategic investments. By catering to different segments of the online market, Info
Edge aims to provide valuable services and capture opportunities in India's growing digital ecosystem.

Its business model is based on the following:

Online classifieds: Info Edge operates a number of online classifieds portals, including Naukri.com,
99acres.com, Jeevansathi.com, and Shiksha.com. These portals connect buyers and sellers of goods and
services, as well as job seekers and employers.

Advertising: Info Edge generates revenue from advertising on its online classifieds portals. Advertisers pay
to have their products or services listed on the portals, or to have their ads displayed on the portals.

Investment: Info Edge also invests in early-stage technology startups. The company has invested in a
number of successful startups, including Zomato, PolicyBazaar, and MyDala.Info Edge's business model has
been successful in generating revenue and profits. The company has grown rapidly in recent years, and it is
now one of the leading online classifieds companies in India.

Here are some of the key strengths of Info Edge's business model:

Large and growing market: The Indian online classifieds market is large and growing. The number of
internet users in India is expected to reach 800 million by 2025, and the online classifieds market is expected
to grow at a compound annual growth rate (CAGR) of 20% over the next five years.

Strong brand name: Info Edge has a strong brand name in India. The company's flagship portal, Naukri.com,
is the leading job portal in India.

Experienced management team: Info Edge is led by a team of experienced managers who have a proven
track record of success. The company's founder, Sanjeev Bhikchandani, is one of the most successful
entrepreneurs in India.

6
Major Company Costs (Top 5 expenses)

 .Employee Costs: One of the primary expenses for Info Edge is employee wages and benefits because the
company makes considerable investments in attracting and retaining talent. . Employee benefits expense (` In
million) Particulars Year ended March 31, 2022 Salaries, wages and bonus 5,425.77 Contribution to provident
and other funds 192.06 Sales incentives 621.38 Staff welfare expenses 108.80 Share based payments to
employees 625.82 Other employee related expenses 138.83 Total 7,112.66 . (` In million)

 Sales and marketing expenses: Info Edge spends a significant amount of money on sales and
marketing, including advertising, sales commissions, and marketing research. In FY22, sales and
marketing expenses accounted for 36% of Info Edge's total expenses. Advertising and promotion
cost (` In million) Particulars Year ended March 31, 2022 Year ended Advertisement expenses
2,777.80 Promotion & marketing expenses 73.17 23.44 Total 2,850.97. . (` In million)

 Technology and content expenses: Info Edge invests heavily in technology and content, including
developing and maintaining its online platforms, as well as creating and distributing content. In
FY22, technology and content expenses accounted for 16% of Info Edge's total expenses, Year
ended March 31, 2022 Year Internet and server charges 256.83 Others 62.13 Total 318.96 . (` In
million)

 Administrative expenses: Info Edge incurs a number of administrative expenses, including general

and administrative expenses, as well as legal and accounting fees. In FY22, administrative expenses
accounted for 25% of Info Edge's total expenses which was around Total 704.70 (` In million)

 Expenditure in foreign currency: (` In million) Particulars Year ended March 31, 2022 Internet and
server charges 3.26 Advertising and promotion cost 20.06 Others 17.13 Foreign branch expenses -
Advertising and promotion cost 0.63 - Travel & conveyance 1.63 - Employee benefits expense
174.69 - Others 24.41 Total 241.81

 Research and development expenses: Info Edge invests in research and development to develop new
products and services, as well as to improve its existing products and services. In FY22, research and
development expenses accounted for 7% of Info Edge's total expenses.

7
The company faces a number of risks, including:

1. Competition: Info Edge faces competition from other online classifieds companies, such as Just Dial
and TimesJobs. These companies are also investing in growth initiatives, such as expanding their
international operations and launching new products and services. This could lead to increased competition
and pricing pressure in the online classifieds market.

2. Regulation: The Indian government is increasingly regulating the online classifieds industry. This
could make it more difficult for Info Edge to operate and grow its business. For example, the government
has recently imposed new regulations on online job portals that require them to verify the identity of job
seekers and employers. This could increase the cost of doing business for Info Edge and its competitors.

3. Technology risk: Info Edge's business is dependent on technology. If there is a major technology

disruption, it could harm the company's business. For example, if a new technology emerges that makes it
easier for people to find jobs or buy and sell real estate, it could lead to a decline in the use of Info Edge's
online platforms

4. Economic slowdown: If the Indian economy experiences a slowdown, it could lead to a decline in
the demand for Info Edge's products and services. This is because people are less likely to spend money on
job search, real estate, and matrimonial services during economic downturns.

5. Dependence on Key Partners: Because Info Edge invests in other businesses, it is subject to the
performance and stability risks connected with such businesses. The results of these investments could affect
Info Edge's bottom line.

6. Foreign exchange risk: Info Edge has operations in a number of countries, and it generates revenue
in a variety of currencies. This exposes the company to foreign exchange risk, which is the risk that the
value of the currencies in which Info Edge generates revenue will decline relative to the Indian rupee. This
could lead to a decline in the company's profits.

Overall, Info Edge is a well-established company with a strong business model. However, the company
faces a number of risks, including competition, regulation, technology risk, economic slowdown, and
foreign exchange risk. These risks could impact the company's financial performance in the future.

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Info Edge India SWOT Matrix / Weighted SWOT Analysis

Strengths of Info Edge India

Strengths are the firm's capabilities and resources that it can use to design, develop, and sustain competitive
advantage in the marketplace

- Strong brand recognition - Info Edge India products have strong brand recognition in the Computer
Services industry. This has enabled the company to charge a premium compare to its competitors in
Computer Services industry.

- Success of new product mix - Info Edge India provides exhaustive product mix options to its customers.
It helps the company in catering to various customers segments in the Computer Services industry.

- Talent management at Info Edge India and skill development of the employees - Human resources are
integral to the success of Info Edge India in Computer Services industry.

- Brands catering to different customers segments within Computer Services segment - Info Edge India
extensive product offerings have helped the company to penetrate different customer segments in Computer
Services segment. It has also helped the organization to diversify revenue streams.

- Market Leadership Position - Info Edge India has a strong market leadership position in the Computer
Services industry. It has helped the company to rapidly scale new products successes.

- First mover advantage in the increasingly crowded market place. The new products are rapidly increasing
Info Edge India market share in the Computer Services industry.

Weaknesses of Info Edge India

They can either be absence of strengths or resources of capabilities that are required but at present the
organization doesn't have. Decision makers have to be certain if the weakness is present because of lack of
strategic planning or as a result of strategic choice.
- Declining per unit revenue for Info Edge India - competitiveness in the Computer Services industry is
putting downward pressure on the profitability. A starting guide to manage this situation for company name
is – objectively assessing the present value propositions of the various products.

- Extra cost of building new supply chain and logistics network - Internet and Artificial Intelligence has
significantly altered the business model in the Technology industry and given the decreasing significance of
the dealer network Info Edge India has to build a new robust supply chain network. That can be extremely
expensive.

- Declining market share of Info Edge India with increasing revenues - the Computer Services industry is
growing faster than the company. In such a scenario Info Edge India has to carefully analyze the various
trends within the Technology sector and figure out what it needs to do to drive future growth.

- Low investments into Info Edge India's customer oriented services - This can lead to competitors
gaining advantage in near future. Info Edge India needs to increase investment into research and
development especially in customer services oriented applications.
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- Niche markets and local monopolies that companies such as Info Edge India able to exploit are fast
disappearing. The customer network that Info Edge India has promoted is proving less and less effective.

- Business Model of Info Edge India can be easily imitated by the competitors in the Computer Services
industry. To overcome these challenges company name needs to build a platform model that can integrate
suppliers, vendors and end users.

Opportunities for Info Edge India

Opportunities are potential areas where the firm can identify potential for - growth, profits, and
market share.

- Local Collaboration - Tie-up with local players can also provide opportunities of growth for the
Info Edge India in international markets. The local players have local expertise while Info Edge India
can bring global processes and execution expertise on table.

- Opportunities in Online Space - Increasing adoption of online services by customers will also
enable Info Edge India to provide new offerings to the customers in Computer Services industry.

- Lower inflation rate - The low inflation rate bring more stability in the market, enable credit at
lower interest rate to the customers of Info Edge India. This will increase the consumption of Info
Edge India products.

- Trend of customers migrating to higher end products - It represents great opportunity for
Info Edge India, as the firm has strong brand recognition in the premium segment, customers have
experience with excellent customer services provided by Info Edge India brands in the lower
segment. It can be a win-win for the company and provides an opportunity to increase the
profitability.

- Rapid Expansion of Economy As the US economy is improving faster than any other developed
economy, it will provide Info Edge India an opportunity to expand into the US market. Info Edge
India already have know-how to operate into the competitive US market.

- Customer preferences are fast changing - Driven by rising disposable incomes, easy access to
information, and fast adoption of technological products, customers today are more willing to
experiment / try new products in the market. Info Edge India has to carefully monitor not only
wider trends within the Computer Services industry but also in the wider Technology sector.

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Threats to Info Edge India

Threats are factors that can be potential dangers to the firm's business models because of changes
in macro economic factors and changing consumer perceptions. Threats can be managed but not
controlled.

- Shortage of skilled human resources - Given the high turnover of employees and increasing
dependence on innovative solution, company name can face skilled human resources challenges in
the near future.

- Changing demographics - As the baby boomers are retiring and new generation finding hard to
replace their purchasing power. This can lead to higher profits in the short run for Info Edge India
but reducing margins over the long run as young people are less brand loyal and more open to
experimentation.

- Commoditization of the product segment - The biggest challenge for Info Edge India and
other players in the industry is the increasing commoditization of the products in Technology
industry.

- Saturation in urban market and stagnation in the rural markets - For Info Edge India this
trend is an ongoing challenge in the Computer Services segment. One of the reasons is that the
adoption of products is slow in rural market. Secondly it is more costly for Info Edge India to serve
the rural customers than urban customers given the vast distances and lack of infrastructure.

- Competitive pressures - As the new product launch cycles are reducing in the Technology
industry. It has put additional competitive pressures on players such as Info Edge India. Given the
large customer base, Info Edge India can't respond quickly to the needs of the niche markets that
disruptors are focusing on.

Strengths Weaknesses Opportunities Threats

Strong brand name High employee Growing demand for online Increased competition
turnover recruitment services from global players
Large user base Lack of innovation Government regulations Economic slowdown
Strong financial Inefficient operations New product development Changing customer
position preferences
Experienced Lack of focus on Acquisition opportunities Natural disasters
management team international markets

- Growing technological expertise of local players in the export market - One of the biggest
threat of tie-up with the local players in the export market for Info Edge India is threat of losing
IPR. The intellectual property rights framework is not very strong in emerging markets especially in
China.

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Quantitative factors

Ttrend analysis-

Particulars\Year 2022 2021 2020 2019 2018

PAT INCLUDING SHARE OF PROFITS/LOSS OF
ASSOCIATED COMPANIES 14,200.11 1,602.3 -125.76 716.48 585.45

LESS: Share of Profits / Loss of Associated

0 0 0 0 0
Companies Before Tax
PAT 14,200.11 1,602.3 -125.76 716.48 585.45
ADD TAXES
1,317.88 184.28 119.99 124.28 84.5
PBT 1,786.5
15,517.99 -5.77 840.76 669.95
9
ADD INTEREST 0 0 0 0 0
PBIT 1,786.5
15,517.99 -5.77 840.76 669.95
9
ADD DEPREC_ & AMORTISATION
44.91 44.8 47.74 22.14 29.63
PBITDA/EBITDA 1,831.3
15,562.90 41.97 862.90 699.58
9
Total Assets
2,596.2
20,482.89 6,328.71 2,898.89 3,189.00 8
Profit Attributable to Shareholders
12,759.57 1,416.31 -237.62 603.65 511.98
Total Equity/ Owners fund 2,029.7
18,050.68 5,474.73 2,195.56 2,529.12 8
Gross Profit=EBITDA+Share of profit-interest 1,831.3
  41.97 862.90 699.58
9
Gross Profit=Net sales-cogs 1,128.0 1,309.8 1,142.1
1,589.03 976.08
0 2 0

Sales Growth  Profit Growth 

1 YEAR3103.98%

3
YEAR216.4%

5
YEAR112.81%

1 YEAR38.52%

3 YEAR12.47%

5 YEAR14.27%

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INTERPRETATION

CAGR- The compound annual growth rate (CAGR) of Info Edge Ltd's sales and profit for the past 5 years is
as follows:

 Sales: 14.27%
 Profit: 112.81%

This means that Info Edge Ltd's sales and profit have grown by an average of 14.27% and 112.81% per year,
respectively, over the past 5 years.

1) SALES REVENUE-

The sales revenue of Info Edge for the past 5 years has been on an upward trend, with the exception of a
slight dip in 2020. In 2018, the company's sales revenue was 915.49 crores. This was followed by a steady
increase in sales revenue, with the company recording sales revenue of 1,098.26 crores in 2019, 1,272.70
crores in 2020, 1,128.00 crores in 2021, and 1,562.46 crores in 2022.The overall growth in sales revenue
over the past 5 years is 82.3%. This growth can be attributed to a number of factors, including the company's
strong brand presence, its focus on innovation, and its expansion into new markets.

In 2023, Info Edge's sales revenue is expected to continue to grow. The company has set a target of
achieving sales revenue of Rs 20,294 crore for the year. Here are some of the factors that are expected to
drive Info Edge's sales revenue growth in 2023:

 The continued growth of the Indian economy.

 The increasing demand for online job search and recruitment services.
 The company's focus on innovation, such as its recent launch of a new AI-powered job search
engine.
 The company's expansion into new markets, such as Southeast Asia.

Overall, the sales revenue of Info Edge has been on an upward trend over the past 5 years. The company is
expected to continue to grow its sales revenue in 2023.

2) TOTAL REVENUE-

In 2018, Info Edge Ltd had a total revenue of ₹1,012.58 crores. This was an increase of 19.3% from the
previous year. The company's revenue continued to grow in 2019, reaching ₹1,209.41 crores. This was an
increase of 19.5% from the previous year.

In 2020, Info Edge Ltd's revenue experienced a slight decline, reaching ₹1,360.32 crores. This was a
decrease of 10.6% from the previous year. The decline in revenue was attributed to the COVID-19
pandemic, which had a negative impact on the Indian economy.

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In 2021, Info Edge Ltd's revenue rebounded, reaching ₹1,246.99 crores. This was an increase of 6.8% from
the previous year. The company's revenue continued to grow in 2022, reaching ₹11,244.32 crores. This was
an increase of 79.1% from the previous year.

Overall, Info Edge Ltd has experienced strong revenue growth over the past 5 years. The company is well-
positioned for continued growth in the future.

Here are some additional details about Info Edge Ltd's revenue:

 The company's largest source of revenue is digital advertising. In 2022, digital advertising accounted
for 80% of the company's revenue.
 The company's second largest source of revenue is job listings. In 2022, job listings accounted for
15% of the company's revenue.
 The company's third largest source of revenue is events. In 2022, events accounted for 5% of the
company's revenue.

The reason of tremendous jump of total revenue for info edge is attributed presence of an extraordinary item
which is :-

During the year ended March 31, 2022, Zomato Limited, has issued bonus shares in the ratio of 1:6699 to
existing equity shareholders. Further, it has converted CCCPS of Class A to C and CCPS of Class E to the
equity shares in the ratio of 1: 1. Zomato Limited, has also come out with initial public offer (“IPO”) of its
equity shares and such shares have been listed on NSE & BSE on July 23, 2021. The company has
participated in offer for sale (“OFS”) as ‘selling shareholder’ and has sold 49.3 million shares at total
consideration of ` 3,750 million. Effective listing date, Zomato Limited has ceased to be a Joint venture (i.e.
Jointly Controlled entity) and hence has been reclassified as financial investment which will be fair valued at
each reporting date in accordance with Ind AS109. Accordingly, unrealised mark to market gain of `
89,411.95 million till date of listing of Zomato has been credited to P&L through exceptional item.
Unrealised gain of ` 7,526.53 million from date of listing till year end has been taken to Other
Comprehensive Income in accordance with one time irrevocable option available under IND AS.

3) Adjusted Net Profit

In our case the adjusted net profit shows the true picture of the company’s profit and growth as it is net of
extraordinary items .

Adjusted net profit

520.46

304.78 285.12 280.94

239.49

2018 2019 2020 2021 2022

adjusted net profit

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In 2018, Info Edge Ltd had an adjusted net profit of ₹239.49 crores. This was an increase of 13.7% from the
previous year. The company's adjusted net profit continued to grow in 2019, reaching ₹304.78 crores. This
was an increase of 26.8% from the previous year.

In 2020, Info Edge Ltd's adjusted net profit experienced a slight decline, reaching ₹285.12 crores. This was
a decrease of 6.5% from the previous year. The decline in adjusted net profit was attributed to the COVID-
19 pandemic, which had a negative impact on the Indian economy.

In 2021, Info Edge Ltd's adjusted net profit rebounded, reaching ₹280.94 crores. This was an increase of
1.7% from the previous year. The company's adjusted net profit continued to grow in 2022, reaching
₹520.46 crores. This was an increase of 80.5% from the previous year.

Liquidity position-

Current ratio-The current ratio is a liquidity ratio that measures a company's ability to pay its short-
term debts with its current assets. The current ratio is calculated by dividing current assets by current
liabilities. A current ratio of 2.72 in 2022 indicates that Info Edge Ltd has 2.72 times more current assets
than current liabilities. This means that the company is able to pay its short-term debts with its current assets

Current Ratio
Particulars\Year 2022 2021 2020 2019 2018
Current Assets 3,030.86 3,142.71 1,267.13 1,593.18 643.15
Current Liabilities 1,114.95 681.57 618.96 644.64 554.93
CR=(CA/CL) *100 2.72 4.61 2.05 2.47 1.16
AVG CR 2.60
The
current ratio is a liquidity ratio that measures a company's ability to pay its short-term debts with its current
assets. The current ratio is calculated by dividing current assets by current liabilities. A current ratio of 2.72
in 2022 indicates that Info Edge Ltd has 2.72 times more current assets than current liabilities. This means
that the company is able to pay its short-term debts with its current assets.The current ratio has been
increasing over the past 5 years. In 2018, the current ratio was 1.16. This indicates that the company's
liquidity has improved over the past 5 years.

15
 current ratio
5
4.5 4.61
4
3.5
3
2.72
2.5 2.5
2 2.05
1.5
1 1.16
0.5
0
2018 2019 2020 2021 2022

current ratio

Liquid Ratio
Particulars\Year 2022 2021 2020 2019 2018
Current Assets 3471.79 3142.71 1522.54 1933.13 1788.72
 Inventories/ Stock 0 0 0 0.04 0.75
Prepaid Expenses 0 0   0 0
LA=CA-Stock-PE 3471.79 3142.71 1522.54 1933.09 1787.97

Current Liabilities 1,140.40 702.65 639.38 645.09 555.41

Bank Overdraft 0 0 0 0 0
Cash Credit 0 0 0 0 0
LL=CL-BO-CC 1,140.40 702.65 639.38 645.09 555.41
LR=LA/LL 3.04 4.47 2.38 3.00 3.22
AVG LR 3.22

Liquid Ratio-

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 Liquid/quick ratio
5
4.5 4.5
4.3
4
3.5
3 3 3.04
2.5 2.38
2
1.5
1
0.5
0
2018 2019 2020 2021 2022

ratio

The quick ratio, also known as the acid-test ratio, is a measure of a company's ability to pay its short-term
obligations with its most liquid assets. The quick ratio is calculated by dividing a company's current assets
by its current liabilities.

The quick ratio is a more conservative measure of liquidity than the current ratio, which is calculated by
dividing a company's current assets by its current liabilities plus inventory. This is because inventory is not
as liquid as other current assets, such as cash and accounts receivable.

A quick ratio of 1:1 or higher is considered to be a good sign, as it indicates that a company has enough
liquid assets to cover its short-term obligations. A quick ratio of less than 1:1 may be a sign that a company
is having difficulty meeting its short-term obligations.

Profitability position-
NET PROFIT MARGIN- The net profit margin, or simply net margin, measures how much net
income or profit is generated as a percentage of revenue. It is the ratio of net profits to revenues for a
company or business segment. Net profit margin is typically expressed as a percentage but can also be
represented in decimal form

Net Profit Margin

Particulars\Year 2022 2021 2020 2019 2018
PAT 12,882.23 1,418.03 -245.75 592.2 500.95
Net Sales 1,589.03 1,128.00 1,311.93 1,150.93 988.24
NPM=(PAT/Net Sales)*100 810.70 125.71 -18.73 51.45 50.69
900
AVG 203.96
NET PROFIT MARGIN
800 810.7
700 net profit margin
600
500
400
300

17200
100 125.71
50.69 51.45
0 -18.73
2018 2019 2020 2021 2022
-100
As We can see, the net profit margin for Info Edge has been on a steady increase over the past 5 years. In
2022, the company's net profit margin was 810.70%, which is a significant increase from the previous year's
margin of 125.71%. This increase in net profit margin is likely due to a number of factors, including the
company's continued growth in revenue, its focus on cost-cutting measures, and the strong performance of
its online businesses also due to the presence of an extraordinary item which is listing of Zomato and all the
unrealised gains were credited to P&L ac. The company's net profit margin in 2020 was negative, which was
due to the impact of the COVID-19 pandemic. However, the company's net profit margin has since
rebounded and is now at its highest level in recent years. Over

all, the trend of Info Edge's net profit margin is positive. The company's focus on growth and cost-cutting
measures is likely to continue to drive its net profit margin higher in the future.

Here are some additional points to consider:

 The company's net profit margin is calculated by dividing its net profit by its revenue.
 A high net profit margin indicates that a company is generating a lot of profit from its revenue.
 A low net profit margin indicates that a company is not generating as much profit from its revenue.

Historical Return On Equity of Info Edge (India) Ltd.

Period Mar-22 Mar-21 Mar-20 Mar-19 Mar-18

ROE 74.01 25.77 -10.82 23.74 25.04
Change 187.15 % 338.13 % -145.59 % -5.17 % 1784.96 %
Price 4509.45 4280.55 2035.05 1842.55 1175.40

Price Change 5.35 % 110.34 % 10.45 % 56.76 % 46.70 %

As we can see, the ROE for Info Edge has been on a bit of a roller coaster ride over the past 5 years. In
2022, the company's ROE was 74.01%, which is a very high number. This high ROE is likely due to the
company's strong financial performance in 2022. The company's ROE in 2020 was negative.

 The company's ROE is calculated by dividing its net income by its shareholder equity.
 A high ROE indicates that a company is generating a lot of profit from its shareholders' investment.
18
  A low ROE indicates that a company is not generating as much profit from its shareholders'
investment.
 The company's ROE can be affected by a number of factors, including its industry, its size, and its
financial performance.

Return on capital employed-

Return on Capital Employed (ROCE)
Particulars\Year 2022 2021 2020 2019 2018
EBIT 14,256.45 1,657.97 -63.95 745.63 620.22
TA (Total Assets) 18122.81 5542.23 2274.46 2544.36 2041.35
CL (Current Liabilities) 1,114.95 681.57 618.96 644.64 554.93
17,007.86 4,860.66 1,655.50 1,899.72 1,486.42
ROCE=(EBIT/CE) *100 83.8221 34.1099 - 3.86288 39.2494 41.7257
8 7 6
AVG 39.01

Return on capital employed (ROCE) is a financial ratio that measures how efficiently a company uses its
capital to generate profits. It is calculated by dividing net operating profit (EBIT) by capital employed.
Capital employed is calculated as total assets minus current liabilities. A high ROCE indicates that a
company is using its capital efficiently and generating a lot of profit from it. A low ROCE indicates that a
company is not using its capital efficiently and is not generating as much profit from it. ROCE can be used
to compare the performance of different companies or to track the performance of a company over time. It
can also be used to compare the performance of a company to its industry average.

ROCE
83.8221

41.72576 39.24947 34.10998

-3.86288
2018 2019 2020 2021 2022

roce

ROCE = EBIT / Capital Employed

The ROCE for Info Edge has been on a steady increase over the past 5 years. In 2022, the company's ROCE
was 83.8221%, which is a very high number. The company's ROCE in 2021 was lower than in 2022, but it
was still higher than in 2020. This is likely due to the impact of the COVID-19 pandemic in 2020. However,
the company's ROCE has since rebounded and is now at its highest level in recent years.

19
Solvency position
Debt/Equity ratio-
Debt-to-equity ratio (D/E) is a financial ratio that measures the extent of a company's leverage. It is
calculated by dividing the company's total liabilities by its shareholder equity. A high D/E ratio indicates
that a company is using a lot of debt to finance its operations, while a low D/E ratio indicates that the
company is using less debt. The D/E ratio is a useful tool for investors to assess a company's financial
health. A high D/E ratio can be a sign of financial risk, as it indicates that the company may have difficulty
repaying its debt. However, a high D/E ratio may not always be a negative sign, as it can also indicate that
the company is growing rapidly and needs to borrow money to finance its expansion.

Info Edge Ltd. has a debt-to-equity ratio of 0.0018 as of March 31, 2023. This means that the company has
very little debt compared to its equity. A low debt-to-equity ratio is generally considered to be a good sign,
as it indicates that a company is financially healthy and has a strong ability to repay its debts.

Year Debt-to-equity ratio

2022 0.0018

2021 0.0039

2020 0.0001

2019 0.0001

2018 0.0001

As we can observe , the debt-to-equity ratio for Info Edge Ltd. has been steadily decreasing over the past 5
years. This is a positive sign, as it indicates that the company is becoming less reliant on debt to finance its
operations.

There are a few factors that can contribute to a low debt-to-equity ratio. One factor is a company's
profitability. If a company is profitable, it will generate more cash flow, which can be used to repay debt.
Another factor is a company's asset base. If a company has a large asset base, it can use these assets as
collateral to secure loans, which can help to reduce its debt burden.

Interest Coverage Ratio-

The interest coverage ratio is a debt and profitability ratio used to determine how easily a company can
pay interest on its outstanding debt. The interest coverage ratio is calculated by dividing a
company's earnings before interest and taxes  (EBIT) by its interest expense during a given period . The
lower the ratio, the more the company is burdened by debt expenses and the less capital it has to use in
other ways. When a company's interest coverage ratio is only 1.5 or lower, its ability to meet interest
expenses may be questionable.
20
 Interest Coverage Ratio
Particulars\Year 2022 2021 2020 2019 2018
EBIT 14,256.45 1,657.97 -63.95 745.63 620.22
Interest 11.43 10.87 14.07 7.01 5.14
ICR=EBIT/INT 1247.28 152.53 -4.55 106.37 120.67
AVG 324.46

2022: Interest Coverage Ratio of 1247.28A high interest coverage ratio of 1247.28 indicates that Info Edge
Ltd had a substantial margin of safety in covering its interest expenses in 2022. This suggests that the
company's earnings before interest and taxes (EBIT) were significantly higher than its interest expense,
indicating a strong ability to meet its debt obligations.

2021: Interest Coverage Ratio of 152.53Similarly, a high interest coverage ratio of 152.53 in 2021 suggests
that Info Edge Ltd had a strong ability to cover its interest expenses. The company's earnings were
significantly higher than its interest costs, indicating a comfortable financial position in terms of debt
obligations.

2020: Interest Coverage Ratio of -4.55A negative interest coverage ratio of -4.55 in 2020 indicates that Info
Edge Ltd's EBIT was lower than its interest expenses. This suggests that the company may have faced
difficulties in meeting its interest payments during that year. A negative ratio implies that the company's
earnings were insufficient to cover its interest costs, which can be a cause for concern.

2019: Interest Coverage Ratio of 106.37A high interest coverage ratio of 106.37 in 2019 indicates that Info
Edge Ltd had a strong ability to cover its interest expenses that year. The company's earnings were
significantly higher than its interest costs, indicating a comfortable financial position in terms of debt
obligations.

2018: Interest Coverage Ratio of 120.67Similarly, a high interest coverage ratio of 120.67 in 2018 suggests
that Info Edge Ltd had a strong ability to cover its interest expenses. The company's earnings were
significantly higher than its interest costs, indicating a comfortable financial position in terms of debt
obligations.

Turnover position
Total Asset Turnover Ratio-
The Total Asset Turnover Ratio is a financial metric that measures a company's efficiency in generating
sales revenue from its total assets. It indicates how effectively a company is utilizing its assets to generate
sales.

The formula for calculating the Total Asset Turnover Ratio is:

Total Asset Turnover Ratio = Net Sales / Average Total Assets Where: Net Sales refers to the total revenue
generated from sales after deducting any sales returns, allowances, and discounts.

21
Average Total Assets is the average value of a company's total assets over a specific period, usually
calculated by adding the beginning and ending total asset balances and dividing by 2.

Total Asset Turnover Ratio(TATR)

Particulars\Year 2022 2021 2020 2019 2018

Net Sales 1,589.03 1,128.00 1,311.93 1,150.93 988.24

Total Assets 18122.81 5542.23 2274.46 2544.36 2041.35

TATR=NS/TA 0.09 0.20 0.58 0.45 0.48

AVG 0.36

Total Asset Turnover Rati o(TATR)

5
4.5
4.3
4
3.5
3
2.5
2
1.5
1
0.5 0.45 0.58
0.2 0.09
0
2018 2019 2020 2021 2022

Total Asset Turnover Ratio(TATR)

2022: Total Asset Turnover Ratio of 0.09A Total Asset Turnover Ratio of 0.09 indicates that Info Edge Ltd
generated sales equal to 9% of its average total assets in 2022.

2021: Total Asset Turnover Ratio of 0.20With a Total Asset Turnover Ratio of 0.20 in 2021, Info Edge Ltd
improved its asset utilization compared to the previous year. The company generated sales equal to 20% of
its average total assets, indicating better efficiency in utilizing its assets to generate revenue. This suggests
an improvement in operational performance or sales effectiveness.

2020: Total Asset Turnover Ratio of 0.58A Total Asset Turnover Ratio of 0.58 in 2020 suggests that Info
Edge Ltd significantly improved its asset utilization efficiency compared to the previous year. The company
generated sales equal to 58% of its average total assets, indicating a higher level of efficiency in converting
assets into revenue. This could be a positive sign of improved operations or sales strategies.

2019: Total Asset Turnover Ratio of 0.45In 2019, Info Edge Ltd had a Total Asset Turnover Ratio of 0.45,
which indicates that the company generated sales equal to 45% of its average total assets. While this ratio is

22
lower than the previous year, it still suggests a moderate level of asset utilization efficiency. However, it
may indicate a slight decline in efficiency compared to the previous year.

2018: Total Asset Turnover Ratio of 0.48With a Total Asset Turnover Ratio of 0.48 in 2018, Info Edge Ltd
had a similar level of asset utilization efficiency compared to the following year. The company generated
sales equal to 48% of its average total assets, indicating a moderate level of efficiency in converting assets
into revenue.

Working Capital Turnover ratio

Working capital turnover ratio is a measure of how effectively a company is using its working capital to
generate sales. It is calculated by dividing net sales by average working capital. Working capital is the
difference between current assets and current liabilities. Current assets are assets that are expected to be
converted into cash within one year, such as cash, accounts receivable, and inventory. Current liabilities are
liabilities that are due within one year, such as accounts payable and accrued expenses. An ideal working
capital turnover ratio is higher than 1. This means that the company is generating more sales than it needs in
working capital to support those sales. A lower working capital turnover ratio indicates that the company is
not using its working capital efficiently.

Working Capital Turnover Ratio(WCTR)

Particulars\Year 2022 2021 2020 2019 2018
Net Sales 1,589.03 1,128.00 1,311.93 1,150.93 988.24

Current Assets 3,030.86 3,142.71 1,267.13 1,593.18 643.15

Current Liabilities 1,114.95 681.57 618.96 644.64 554.93
Working Capital=CA-CL 1915.91 2461.14 648.17 948.54 88.22
WCTR=NS/WC 0.829 0.458 2.024 1.213 11.202
AVG 3.15

2022: Working Capital Turnover Ratio of 0.829

A Working Capital Turnover ratio of 0.829 indicates that Info Edge Ltd generated sales equal to
approximately 83% of its average working capital in 2022. This suggests moderate efficiency in utilizing
working capital to generate revenue. It is important to note that a higher ratio would generally indicate better
efficiency in utilizing working capital.

2021: Working Capital Turnover Ratio of 0.458 In 2021,

Info Edge Ltd had a Working Capital Turnover ratio of 0.458, indicating that the company generated sales
equal to approximately 46% of its average working capital. This suggests lower efficiency in utilizing
working capital to generate revenue compared to the previous year.

23
2020: Working Capital Turnover Ratio of 2.024

With a Working Capital Turnover ratio of 2.024 in 2020,

Info Edge Ltd significantly improved its efficiency in utilizing working capital to generate revenue. The
company generated sales approximately two times its average working capital, indicating a higher level of
efficiency in utilizing working capital resources.

2019: Working Capital Turnover Ratio of 1.213

A Working Capital Turnover ratio of 1.213 in 2019 suggests that Info Edge Ltd generated sales
approximately 1.2 times its average working capital. This indicates moderate efficiency in utilizing working
capital resources to generate revenue.

2018: Working Capital Turnover Ratio of 11.202In 2018,

Info Edge Ltd had a significantly high Working Capital Turnover ratio of 11.202. This suggests that the
company generated sales approximately 11 times its average working capital. Such a high ratio indicates
excellent efficiency in utilizing working capital to generate revenue.

Working Capital Turnover ratio

5
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
2018 2019 2020 2021 2022

Working Capital Turnover ratio

Miscellaneous
Earnings per share
 Earnings per share (EPS) is calculated by dividing the company's net income by the number of
outstanding shares.
 A high EPS indicates that the company is profitable and is generating a lot of earnings per share.
 A low EPS indicates that the company is not profitable and is not generating much earnings per
share.

24
  The EPS of a company can be affected by a number of factors, including the company's industry, its
size, and its financial performance.

year EPS
2022 693.25

2021 21.47
2020 16.85

2019 23.12

2018 15.91

The EPS of Info Edge Ltd. has increased significantly in 2022 compared to the previous years. This is due to the
company's strong financial performance, which was driven by revenue growth and cost control. The company's
revenue increased by 25% in 2022, while its costs increased by only 15%. This resulted in a 20% increase in the
company's net income. Basic EPS of ₹10 each (₹)-after exceptional item 693.25 22.07 Basic EPS of ₹10
each (₹)-before exceptional item 35.78 22.32 which shows that such high eps of company is due to the
presence of an extraordinary item. The company's EPS of 693.25 in 2022 is the highest in the past 5 years.
This indicates that the company is doing well financially and is generating a lot of earnings per share.

2021: EPS of 21.47With an EPS of 21.47 in 2021, Info Edge Ltd experienced a notable decrease in profitability
compared to the previous year. This suggests a decline in the company's earnings per share, which may be
attributed to various factors affecting its profitability.

2020: EPS of 16.85In 2020, Info Edge Ltd reported an EPS of 16.85, indicating a moderate increase in
profitability compared to the previous year. This suggests that the company generated higher earnings per
share, potentially due to improved financial performance or effective cost management.

Company EPS (2022) 2019: EPS of 23.12With an EPS of 23.12 in 2019, Info Edge
Ltd experienced a notable increase in profitability
Info Edge Ltd. 693.25
Naukri.com 18.54
Times Internet Limited 10.58

Zomato Limited -1.14

Paytm -28.08
Dividend payout ratio-

The dividend payout ratio is a financial ratio that measures the percentage of a company's net income that is
paid out to shareholders in the form of dividends. It is calculated by dividing the total dividends paid by the
company by its net income.The dividend payout ratio can be used to compare companies with different
levels of profitability and to track a company's dividend policy over time. A high dividend payout ratio
indicates that a company is paying out a large portion of its earnings to shareholders, while a low dividend
payout ratio indicates that the company is retaining more of its earnings for reinvestment or other purposes.

25
 Dividend Payout Ratio
Particulars\Year 2022 2021 2020 2019 2018

Dividend per Share (DPS) 24.00 16.00 12.00 10.00 9.00

Earning per Share (EPS) 693.25 21.47 16.85 23.12 15.86

DPR=(DPS/EPS)*100 3.46 74.52 71.22 43.25 56.75

AVG 49.84

 A dividend payout ratio of 50% or less is considered to be conservative. This means that the
company is retaining a significant portion of its earnings for reinvestment or other purposes.
 A dividend payout ratio of 50% to 100% is considered to be moderate. This means that the company
is paying out a significant portion of its earnings to shareholders, but it is also retaining some of its
earnings for reinvestment or other purposes.
 A dividend payout ratio of more than 100% is considered to be aggressive. This means that the
company is paying out more in dividends than it is earning. This can be a sign that the company is in
financial trouble or that it is trying to attract investors by offering high dividends.
 Info Edge Ltd. has a dividend payout ratio of 3.46% for 2022. This means that the company paid out
3.46% of its net income to shareholders in the form of dividends. The company's dividend payout
ratio has been fluctuating in recent years, from 3.46% in 2022 to 74.52% in 2021, 71.22% in 2020,
43.25% in 2019, and 56.75% in 2018. This fluctuation in the dividend payout ratio is likely due to a
number of factors. The company's dividend payout ratio is considered to be low.

Price to Earnings Ratio-

Price-to-earnings ratio, also known as P/E ratio, is a financial ratio that compares a company's share price to
its earnings per share (EPS). The P/E ratio is a popular measure of stock valuation, and it is calculated by
dividing the current share price by the latest EPS.

A high P/E ratio means that investors are willing to pay more for each rupee of earnings, while a low P/E
ratio means that investors are willing to pay less for each rupee of earnings. A high P/E ratio can be a sign of
investor optimism about the company's future prospects, while a low P/E ratio can be a sign of investor
pessimism

26
 Price to Earnings Ratio
Particulars\Year 2022 2021 2020 2019 2018

Market Price per Share (MPS) 4,509.45 4,280.55 2,035.05 1,842.55 1,175.40

Earning per Share (EPS) 693.25 21.47 16.85 23.12 15.86

PER=MPS/EPS 6.50 199.37 120.77 79.70 74.11

AVG 96.09

Info Edge Ltd. has a price-to-earnings ratio of 6.50 for 2022. This means that investors are willing to pay
6.50 times the company's earnings per share for each share of its stock. The company's price-to-earnings
ratio has been declining in recent years, from 6.50 in 2022 to 199.37 in 2021, 120.77 in 2020, 79.70 in 2019,
and 74.11 in 2018. This decline in the price-to-earnings ratio is likely due to the company's strong financial
performance in recent years.

The company's price-to-earnings ratio is considered to be low. This means that investors are not willing to
pay a high premium for each dollar of earnings. A low price-to-earnings ratio can be a sign that the company
is undervalued, or that investors are not confident in the company's future prospects.

 The company's price-to-earnings ratio is lower than the industry average of 15. This suggests that the
company is undervalued by investors.
 The company's price-to-earnings ratio has been declining in recent years, which suggests that
investors are becoming more confident in the company's future prospects.
 The company's price-to-earnings ratio is sustainable, as it is not paying out more in dividends than it
is earning.

Conclusion and Recommendation for Info edge ltd-

Strengths

 The company has shown a good profit growth of 216.40% for the Past 3 years

 Company has been maintaining healthy ROE of 38.11% over the past 3 years.

 Company has been maintaining healthy ROCE of 44.66% over the past 3 years.
27
  Company is virtually debt free.

 Company has a healthy Interest coverage ratio of 890.40.

 Annual sales of the company is increased for three years in a row

 Quarterly sales in last 5 years is trending up

 Limitations

 The company has shown a poor revenue growth of 12.47% for the Past 3 years.

 Tax rate is low at 11.67.

 The company is trading at a high EV/EBITDA of 55.27

 Stock Returns is less than Nifty returns for consequitive last three years

 Book Value in last 3 years is trending down

Balance Sheet IND (Consolidated) - Info Edge (India) Ltd

28
 Finance >>Balance Sheet IND (Consolidated)>>Info Edge (India) Ltd(Curr. in )

29
 Year 202203 202103 202003 201903 201803  
Non-Current Assets:            
Fixed Assets 1,006.44 108.27 129.45 62.16 59.25  
  Property, Plant and Equipment 35.1 32.23 43.93 51.43 53.18  
  Capital Work in Progress 0 0 0 0.14 0  
  Intangible Assets 901.51 3.69 85.52 8.59 6.07  
Intangible Assets under Development 0 0 0 2 0  
Fixed Assets Held For Sale 0 0 0 0 0  

Lease Adjustment 0 0 0 0 0  
 Biological Assets other than Bearer
Plants 0 0 0 0 0  

Non-current Investments            

  Investment Properties 26.1 25.79 26.3 28.05 28.64  

  Investments in Subsidiaries,
Associates and Joint venture 2,427.49 2,116.07 841.97 864.23 368.7  
Financial Assets :            
  Investments of Life Insurance
Business 0 0 0 0 0  
  Investments - Long-term 12,745.77 208.37 35.62 0 50.71  

  Loans - Long - Term 0 0 0 0 0  

  Others Financial Assets - Long-term 616.49 544.51 88.6 131.16 152.26  
 Non Current Tax Assets - Long - Term 182.63 145.82 131.73 120.06 94.94  
 Insurance Related Assets 0 0 0 0 0  
 Other Non-current Assets 6.17 0.83 2.55 6.42 5.27  
 Deferred Tax Assets (Net) 0.01 36.35 33.59 43.78 47.79  
Total Reported Non-current Assets 17,011.10 3,186.00 1,376.35 1,255.86 807.56  
Current Assets:            
 Inventories 0 0 0 0.04 0.75  
 Biological Assets other than Bearer
Plants 0 0 0 0 0  
Financial Assets :            
  Current Investments 440.93 0 255.4 339.95 1,145.57  
  Trade Receivables 30.02 6.37 9.12 6.75 5.82  
  Cash and Cash Equivalents 205.15 640.3 527.11 223.32 84.86  
  Bank Balances Other Than Cash and
Cash Equivalents 163.13 1.98 2.06 37.02 75.06  
  Loans - Short-term 8.37 6.21 3.04 0 0.2  
  Others Financial Assets - Short-term 2,566.90 2,463.48 706.86 1,304.90 132.68  
 Current Tax Assets - Short-term 0 0 0 0 0  
 Insurance Related Assets 0 0 0 0 0  
 Other Current Assets 32.47 24.38 18.95 20.28 14.49  
 Assets Classified as Held for Sale 24.83 0 0 0.89 329.3  

Total Current Assets 3,471.79 3,142.71 1,522.54 1,933.13 1,788.72  

Foreign Currency Monetary Item
Translation Difference Account 0 0 0 0 0  

30
  Regulatory Deferral Account - Debit
Balance 0 0 0 0 0  
 Non-Current Assets Classified as Held
for Sale 0 0 0 0 0  
Other Assets Excluding Non-Current
and Current Assets 0 0 0 0 0  

Total Non-Current and Other Assets 17,011.10 3,186.00 1,376.35 1,255.86 807.56  
Total Assets 20,482.89 6,328.71 2,898.89 3,189.00 2,596.28  
EQUITY AND LIABILITIES            
 Share Capital 128.71 128.52 122.27 122.01 121.59  
Number of Equity Shares - Bought Back
during the Current period 0 0 0 0 0  
Number of Total Bonus Shares Issued
upto Current period 4.9 4.9 4.9 4.9 4.9  
Number of Equity Shares - Paid Up 12.87 12.85 12.23 12.2 12.16  
Paid Up Capital 128.7 128.52 122.27 122.01 121.59  
Treasury Shares 0 0 0 0 0  
Number of Bonus Shares Issued During
the Current Period. 0 0 0 0 0  
Number of Shares Splitted During the
Current Period. 0 0 0 0 0  
 Other Equity 17,112.66 5,267.48 2,073.29 2,420.58 1,923.44  
Money Received Against Share
Warrants 0 0 0 0 0  
 Employee Stock Options / Others 0 0 0 0 0  
Share Application Money Pending
Allotment 0 0 0 0 0  
Total Stockholders’ Equity 17,241.36 5,396.00 2,195.56 2,542.59 2,045.03  
Total Reported Stockholders’ Equity 17,241.36 5,396.00 2,195.56 2,542.59 2,045.03  
Minority Interest 809.32 78.73 0 -13.47 -15.25  
Total Equity 18,050.68 5,474.73 2,195.56 2,529.12 2,029.78  
Non-Current Liabilities:            
  Long Term Borrowings 0.65 0.07 0.24 0.37 0.28  
  Others Financial Liabilities - Long-
term 5.67 0 0 3.15 3.17  

 Non Current Tax Liabilities - Long-term 0 1.26 0.01 0 0  

 Long-term Provisions 0.55 0 0.64 1.27 2.43  

 Deferred Tax Liabilities (Net) 1,245.12 104.91 5.47 0 0  
 Insurance Related Liabilities 0 0 0 0 0  
 Other Non-Current Liabilities 1.84 1.15 0.98 9.99 5.2  
Total Reported Non-current Liabilities 1,291.81 151.34 63.96 14.79 11.09  
Current Liabilities:            

  Short Term Borrowings 0 0 0 0 0  

  Trade Payables 120.77 64.38 63.42 67.04 61.58  
  Others Financial Liabilities - Short-
term 2.53 0.41 0.38 0.46 0.48  

 Current Tax Liabilities - Short-term 1.55 0 0 0 0  

31
  Provisions 88.69 68.86 55.27 49.93 46.1  
 Insurance Related Liabilities 0 0 0 0 0  
 Other Current Liabilities 901.78 548.1 500.28 527.66 447.25  
 Liabilities Directly Associated with
Assets Classified as Held for Sale 0 0 0 0 0  
Total Current Liabilities 1,140.40 702.65 639.38 645.09 555.41  
Foreign Currency Monetary Item
Translation Difference Account 0 0 0 0 0  
Hybrid Perpetual Securities 0 0 0 0 0  
Regulatory Deferral Account - Credit
Balance 0 0 0 0 0  
Other Liabilities Excluding Equity, Non-
Current and Current Liabilities 0 0 0 0 0  
Total Equity and Liabilities 20,482.89 6,328.71 2,898.89 3,189.00 2,596.28  
 Contingent Liabilities and
Commitments (to the Extent Not
Provided for) 4.48 0.91 2.31 0.73 0.35  
Book Value (Unit Curr) 1,339.65 419.85 179.57 208.4 168.19  

Profit And Loss Statement – Info Edge (India) Ltd.

Year 202203 202103 202003 201903 201803
 Revenue From Operations 1,589.03 1,128.00 1,311.93 1,150.93 988.24
Less: Excise Duty 0 0 0 0 0
Revenue From Operations(Net) 1,589.03 1,128.00 1,311.93 1,150.93 988.24
 Other Income 440.36 149.4 104.47 120.31 88.79
32
 Total Revenue 2,029.39 1,277.40 1,416.40 1,271.25 1,077.02
EXPENSES:          
 Cost of Material Consumed 0 0 2.11 8.83 12.16
 Internally Manufactured Intermediates or
Components Consumed 0 0 0 0 0

 Purchases of Stock-in-Trade 0 0 0 0 0
 Changes in Inventories of Finished Goods,
Work-in-Progress and Stock-in-Trade 0 0 0 0 0
 Employee Benefits / Salaries & other Staff
Cost 746.31 567.35 584.6 509.94 458.64

 Finance Cost 4.65 5.79 8.2 1.11 0.34

 Depreciation and Amortization 44.91 44.8 47.74 22.14 29.63
 Other Expenses 403.49 279.39 352.61 319.4 259.24
Total Expenses 1,199.35 897.33 995.25 861.43 760.02
Share of Profits / Loss of Associated
Companies Before Tax 2,195.36 -211.87 -729.02 -309.92 -44.17
Minority Interest Before Net Profit 0 0 0 0 0
Profit Before Exceptional Items and Tax 3,025.40 168.19 -307.87 99.9 272.83
11,174.7
 Exceptional Items Before Tax 1 1,434.12 182.11 616.58 312.62
14,200.1
Profit Before Extraordinary Items and Tax 1 1,602.31 -125.76 716.48 585.45
 Prior Year Adjustments 0 0 0 0 0
Other Adjustments Before Tax 0 0 0 0 0
 Extraordinary Items Before Tax 0 0 0 0 0
14,200.1
Profit Before Tax 1 1,602.31 -125.76 716.48 585.45

Tax Expenses 1,317.88 184.28 119.99 124.28 84.5

Current Tax 153.02 82.15 110.67 125.78 105.47
Deferred Tax 1,164.87 102.12 9.31 -1.5 -20.97
Other Tax Adjustments 0 0 0 0 0
Current Tax - MAT / MAT Credit
Entitlement 0 0 0 0 0

Fringe Benefits Tax 0 0 0 0 0

Provision for Wealth Tax 0 0 0 0 0
  Adjust for Previous Year 0 0 0 0 0
Others 0 0 0 0 0
12,882.2
Profit After Tax 3 1,418.03 -245.75 592.2 500.95
Minority Interest After Net Profit -122.66 -1.72 8.13 11.45 11.03
Pre-acquisition Profit 0 0 0 0 0
Share of Profits / Loss of Associated
Companies 0 0 0 0 0
12,759.5
Profit After Pre-acquisition Profit 7 1,416.31 -237.62 603.65 511.98

 Extraordinary Items After Tax 0 0 0 0 0

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 Profit/(Loss) for the period from 12,759.5
Continuing Operations 7 1,416.31 -237.62 603.65 511.98

Discontinued Operations 0 0 0 0 0
Profit / (Loss) from Discontinuing
Operations 0 0 0 0 0
Tax Expense of Discontinuing Operations 0 0 0 0 0
Accounting Changes 0 0 0 0 0
12,759.5
Profit Attributable to Shareholders 7 1,416.31 -237.62 603.65 511.98

Adjustments to Net Income 0 0 0 0 0

Interim Preference Dividend 0 0 0 0 0

Proposed / Final Preference Dividend 0 0 0 0 0
Prior Year Preference Dividend Paid 0 0 0 0 0
Preference Dividend 0 0 0 0 0

Preference Dividend Tax 0 0 0 0 0

Profit Attributable to Ordinary 12,759.5
Shareholders 7 1,416.31 -237.62 603.65 511.98
 Others 0 0 0 0 0
 Transfer from Reserves 0 0 0 0 0
Unappropriated Profits Brought Forward 0 0 0 0 0
12,759.5
Profits Available for Appropriation 7 1,416.31 -237.62 603.65 511.98
 Dividend 0 0 0 0 0
 Transfer to Reserves 0 0 0 0 0
Dividend Tax 0 0 0 0 0
Capitalization for Bonus Issue 0 0 0 0 0
12,759.5
Unappropriated Profits Carried Forward 7 1,416.31 -237.62 603.65 511.98
Other Comprehensive Income :          
 Other Comprehensive Income That Will
Not Be Reclassified to Profit Or Loss -770.44 1.07 -5.45 -2.4 0.24
Other Comprehensive Income That Will Be
Reclassified to Profit Or Loss : 0.29 3.93 2.54 -0.67 0.98
Other Comprehensive Income no
Specification : 0 0 0 0 0
Non-Controlling Interests -122.66 -1.72 8.13 11.46 10.94
11,989.4
Total Comprehensive Income for the Year 2 1,421.31 -240.53 600.6 513.11
Net Profit attributable to:          
12,759.5
a) Owners of the Company 7 1,416.31 -237.62 603.65 511.98
b) Non Controlling Interest -122.66 -1.72 8.13 11.45 11.03
Other Comprehensive Income attributable
to:          
12,759.5
a) Owners of the Company 7 1,416.31 -237.62 603.65 511.98
b) Non Controlling Interest -122.66 -1.72 8.13 11.45 11.03

34
 Total Comprehensive Income attributable
to:          
12,759.5
a) Owners of the Company 7 1,416.31 -237.62 603.65 511.98
b) Non Controlling Interest -122.66 -1.72 8.13 11.45 11.03
Earning Per Share - Basic 991.38 112.24 -19.46 49.53 42.22

Earning Per Share - Diluted 985.58 111.44 -19.46 49.14 41.89

Dividend Per Share          

Interim 1 8 8 2.5 2.5 2.5

Interim 2 0 0 3.5 1.5 1.5

Interim 3 0 0 0 0 0

Interim 4 0 0 0 0 0
Special 0 0 0 0 0

Final 5 0 0 2 1.5
Total Dividend Per Share 13 8 6 6 5.5
Dividend Percentage          
Interim 1 8 8 2.5 2.5 2.5
Interim 2 0 0 3.5 1.5 1.5
Interim 3 0 0 0 0 0
Interim 4 0 0 0 0 0
Special 0 0 0 0 0
Final 5 0 0 2 1.5
Total Dividend Percentage 130 80 60 60 55
Total Dividend 167.42 103.03 73.46 73.27 66.88
Preference Dividend 0 0 0 0 0
Weighted Average Number of Shares in
Issue - Basic 12.87 12.62 12.21 12.19 12.13
Weighted Average Number of Shares in
Issue - Diluted 12.95 12.71 12.21 12.28 12.22
Interim Dividend Amount 103.03 103.03 73.46 48.85 48.61
Final Dividend Amount 64.39 0 0 24.42 18.27
Special Dividend Amount 0 0 0 0 0
Dividend Amount Calculated 0 0 0 0 0
Other Dividend Amount 0 0 0 0 0
           

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