HSIE Results Daily 25/05/2026: Infoedge

Authored By Prime Research | Last Modified: May 25, 2026 03:19 PM IST

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Core business stable; investing in AI for growth

Info Edge’s Q4 FY26 standalone billing grew 7% YoY, supported by recruitment and Jeevansathi segments. 99acres achieved a significant milestone by turning EBITDA positive in Q4, despite muted billing growth.

The company continues investing heavily in AI-driven tools across businesses like Naukri, 99acres, and Jeevansathi to improve productivity and customer engagement.

Q4FY26 highlights: Infoedge revenue grew 5.3% YoY to INR 8.05bn, driven by recruitment, 99acres, Jeevansathi, and Shiksha businesses.
Recruitment business: Recruitment billing rose 10% YoY despite challenging hiring conditions in GCCs and IT/BPM sectors.
99acres: 99acres became EBITDA positive in Q4. The platform maintains leadership in traffic share and user engagement.
AI initiatives: The company launched AI tools for recruiters, onboarding, and AI-powered resume creation.
Jeevansathi performance: Jeevansathi billing grew 21% YoY, supported by AI-led improvements in profile recommendations.
Outlook: Info Edge expects steady revenue CAGR across recruitment, 99acres, and Jeevansathi segments over FY26-28E.

Quarterly Financial Summary

YE March (INR bn)	4QFY26	4QFY25	YoY (%)	3QFY26	QoQ (%)	FY26	FY27E	FY28E
Net Sales	8.05	6.87	17.2	7.65	5.3	30.52	33.93	37.98
EBITDA	3.50	2.59	35.0	3.25	7.7	12.48	14.00	15.83
APAT	2.93	2.47	18.4	2.95	-0.8	11.12	12.21	13.76
Diluted EPS (INR)	4.5	3.8	18.4	4.6	-0.7	18.9	21.2	23.9
P/E (x)							51.0	45.2
EV / Revenue (x)							16.5	14.3
EV / EBITDA (x)							39.9	34.2
RoE (%)							6.3	6.8

Change in Estimate

YE March (INR bn)	FY27E Old	FY27E Revised	Change %	FY28E Old	FY28E Revised	Change %
Revenue	33.53	33.93	1.2	37.35	37.98	1.7
EBITDA	13.55	14.00	3.3	15.24	15.83	3.9
EBITDA margin (%)	40.4	41.3	86bps	40.8	41.7	90bps
APAT	12.07	12.21	1.2	13.41	13.76	2.6
EPS (INR)	18.6	18.9	1.1	20.7	21.2	2.5

BUY

CMP (as on 22 May 2026)	INR 961
Target Price	INR 1,315
NIFTY	23,719

Key Changes

	OLD	NEW
Rating	BUY	BUY
Price Target	INR 1,275	INR 1,315
EPS % FY27E	+1.1
EPS % FY28E	+2.5

Key Stock Data

Bloomberg code	INFOE IN
No. of Shares (mn)	648
MCap (INR bn)	623
6m avg traded value (INR mn)	1,821
52 Week high / low	INR 1,550 / 915

Stock Performance (%)

	3M	6M	12M
Absolute (%)	(10.6)	(28.3)	(34.2)
Relative (%)	(1.7)	(16.8)	(27.4)

Shareholding Pattern (%)

	Dec-25	Mar-26
Promoters	37.59	37.50
FIs & Local MFs	22.49	24.09
FPIs	29.66	27.97
Public & Others	10.12	10.34
Pledged Shares	0.00	0.00

Source:

BSE
Company, HSIE Research

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Please Note: The information shared is intended solely for informational purposes and does not make any investment recommendations.
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