NSE: NAUKRI · BSE: 532777
INFO EDGE (I) LTD
Operates internet-based recruitment, real estate, matchmaking and education platforms. Recruitment Solutions, anchored on Naukri.com, is the dominant earner — ₹2,343.22 crore in FY26, or 71.3% of segment revenue, at a 53.9% EBIT margin. 99acres for real estate contributed ₹488.06 crore (14.9% of revenue) and ran at a -14.0% EBIT margin. The "Others" segment (13.8%, ₹453.46 crore) bundles Jeevansathi and Aisle matchmaking, Shiksha, JobHai and CodingNinjas, posting a -26.0% EBIT margin. The model is asset-light and platform-based with zero debt; employee cost at 40.8% of revenue is the largest expense, and the balance sheet carries ₹4,963 crore in cash including subsidiaries. New revenue layers being added include AI-Rex, Talent Pulse and PremiumX on Naukri, plus JobHai monetisation rolling out beyond Delhi NCR. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Recruitment Solutions (71%), 99acres for real estate (15%), Others (14%). Asset-light, platform-based internet classifieds and SaaS-style businesses; recruitment is profitable while newer verticals (real estate, matchmaking, education, blue-collar) remain loss-making at the EBIT level.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,589 | 2,346 | 2,536 | 2,850 | 3,285 |
| EBITDA (ex other income) | 11,614 | 59 | 719 | 1,132 | 1,211 |
| margin % | 730.9 | 2.5 | 28.3 | 39.7 | 36.9 |
| Owners' profit | 12,760 | (107) | 575 | 962 | 1,450 |
| EPS, as reported (₹) | 991.38 | (8.34) | 44.58 | 14.88 | 22.39 |
| ROE % · ROCE % | 71.4 · 62.1 | (0.5) · 2.5 | 1.9 · 3.0 | 3.6 · 5.1 | 4.4 · 4.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 707 | 521 | 702 | 876 | 1,076 |
| Capex | (21) | (58) | (30) | (83) | (75) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 701 | 722 | 750 | 791 | 805 | 819 | 869 | 881 |
| Profit before tax | 588 | 377 | 757 | 436 | 429 | 393 | 862 | 628 |
| Net profit | 85 | 288 | 678 | 343 | 347 | 317 | 756 | 490 |
| EPS (₹) | 1.80 | 18.75 | 7.16 | 4.57 | 4.89 | 4.20 | 8.73 | 6.88 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Recruitment Solutions | 2,343 | 71.3 |
| 99acres for real estate | 488 | 14.9 |
| Others | 453 | 13.8 |
| Total, before eliminations | 3,285 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INFO EDGE (I) LTD ◆ | 78,867 | 49.2 | 1.95 | 34.6 | 4.4 | 4.7 | 24.0 | 75.9 |
| INDIAMART INTERMESH LTD | 9,838 | 19.9 | 4.10 | 13.3 | 19.8 | 21.6 | 18.6 | 61.1 |
| JUSTDIAL LTD. | 5,847 | 16.1 | 1.45 | 11.2 | 9.0 | 11.0 | 3.2 | 59.9 |
| CRIZAC LIMITED | 2,499 | 11.3 | 4.22 | 7.5 | 37.0 | 47.7 | — | 34.0 |
| MATRIMONY.COM LIMITED | 1,065 | 24.2 | 5.16 | 14.1 | 16.5 | 17.9 | 4.0 | 25.2 |
| TCC CONCEPT LIMITED | 203 | 2.9 | 0.12 | 1.6 | 3.9 | 2.8 | — | 38.4 |
| JUPITER INFOMEDIA LTD. | 38 | — | 0.93 | 36.8 | 2.4 | 1.5 | 30.2 | 7.9 |
| OLYMPIA INDUSTRIES LTD. | 15 | 7.5 | 0.28 | — | 3.3 | 4.2 | — | 2.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 49.2 | 16.1 | 7 of 7 | 0% |
| P/B | 1.9 | 1.4 | 6 of 9 | 38% |
| ROCE | 4.7 | 7.8 | 5 of 8 | 43% |
| ROE | 4.4 | 6.7 | 5 of 8 | 43% |
| Debt / Equity | 0.0 | 0.0 | 1 of 9 | 50% |
| EBITDA margin | 75.9 | 36.2 | 1 of 8 | 100% |
| Revenue growth | 11.4 | 12.3 | 5 of 8 | 29% |
| Profit growth | 42.9 | 36.4 | 3 of 8 | 71% |
| Market cap | 78867 | 1065 | 1 of 9 | 100% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Info Edge to invest 5 crore in fashion commerce startup Bijnis | strategic transactions | low | — | — |
| 23 Oct 2026 · Info Edge to fully exit Psila Tech | strategic transactions | medium | — | — |
| 23 Oct 2026 · LIC cuts Info Edge stake to 2.993% through market sales | ownership changes | medium | — | — |
| 22 Oct 2026 · Board to consider interim dividend for FY 2026-27 | corporate actions | high | — | — |
| 22 Oct 2026 · Board to consider interim dividend for FY 2026-27 | corporate actions | high | — | — |
| 20 Oct 2026 · Info Edge schedules Q2 FY26 results conference call on Oct 28 | board shareholder meetings | low | — | — |
| 17 Oct 2026 · Board meeting on Oct 28 to approve Q2 and H1 FY27 results | results | low | — | — |
| 14 Oct 2026 · Info Edge postal ballot for two director appointments, e-voting till Nov 12 | compliance | minimal | — | — |
| 13 Oct 2026 · Info Edge Postal Ballot for CFO and Independent Director Appointments | board shareholder meetings | low | — | — |
| 13 Oct 2026 · Info Edge board approves Rs 200 crore infusion into two subsidiaries | board shareholder meetings | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.