KRChoksey Limited recently issued Buy Call on Infibeam Avenues, along with a new Target Price for the company. Now, let’s examine the research reports and explore their overviews.
Infibeam Avenues Products Ltd is an Indian e-commerce and payment solutions company. It was founded in 2007 by Vishal Mehta and is headquartered in Ahmedabad, Gujarat, India. The company operates primarily in India and serves customers across various sectors, including e-commerce, retail, and financial services.
Infibeam Avenues offers a wide range of products and services to its customers. Its e-commerce platform provides a marketplace for sellers to showcase and sell their products online. The company also offers a comprehensive suite of payment solutions, including payment gateways, digital wallets, and prepaid cards, enabling businesses to accept online payments seamlessly.
Infibeam Avenues Share Price
First of all, let’s take a look at the current share price of Infibeam Avenues. To visualize these changes, we can refer to the Infibeam Avenues Share chart which displays the historical share prices, indicating the ups and downs over time.
Research Report
KRChoksey Limited’s Report Overview
Infibeam Avenues Products Ltd demonstrated remarkable growth in gross revenue, surging to INR 6,527 million, a year-on-year increase of 76.6% and a quarter-on-quarter increase of 57.4%. This outstanding performance was primarily driven by the company’s digital payments and software platforms business. However, net revenue experienced more modest growth, with a 21% year-on-year increase and a 6% quarter-on-quarter increase. The lower sequential growth in net revenue can be attributed to a higher proportion of credit card transactions, accounting for 52% in Q4FY23 compared to 46% for the full fiscal year FY23.
In FY23, Infibeam Avenues achieved a Total Payment Volume (TPV) of INR 4,447 lakh crore, representing a significant growth of 52%, largely fueled by increased activity on the Government e-Marketplace (GeM) platform. For the platform business, the company achieved a Net Transaction Revenue (NTR) of 9 basis points (bps), compared to 8.9 bps in Q3FY23 and 6.3 bps in Q4FY22, excluding the GeM platform.
Going forward, the company maintains an optimistic outlook for NTR growth and aims to achieve double-digit NTR. This growth will be driven by increased volume from high-margin international business and the TapPay platform. However, a gradual decline in NTR is anticipated for the GeM platform as its transaction volume increases, coupled with no charges for Government-to-Government (G2G) transactions as per the new Request for Proposal (RFP).
Infibeam Avenues firmly believes that volume growth will be propelled by the robust prospects in the Indian payment industry, an upswing in orders within the GeM Portal, and an increase in volume from the international market. The company expects to deliver revenue growth of 30-40% in FY24.
KRChoksey Limited Buy Call: Infibeam Avenues
Infibeam Avenues’ current market price is Rs 15. Recently, KRChoksey Limited recently issued Buy Call on Infibeam Avenues with a new Target Price of Rs 28.
| Company | Infibeam Avenues |
|---|---|
| AUTHOR | KRChoksey Limited |
| DATE | 30 May 2023 |
| Current Price | Rs 15 |
| TARGET | Rs 28 |
| Type | Buy |
| Report |
Shareholding Pattern
Here’s a table summarizing the ownership structure of the company.
| Particulars | Mar-23 | Dec-22 | Sep-22 |
|---|---|---|---|
| Promoters | 30.6 | 30.6 | 30.6 |
| FIIs | 6.5 | 6.0 | 7.1 |
| DIIs | 0.1 | 0.1 | 0.0 |
| Others | 62.4 | 62.9 | 61.8 |
| Total | 100.00 | 100.00 | 100.00 |
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