Buy IndiaMART InterMESH, target price Rs 9000: Motilal Oswal

Buy IndiaMART InterMESH, target price Rs 9000:  Motilal Oswal

Motilal Oswal has buy call on IndiaMART InterMESH with a target price of Rs 9000. The current market price of IndiaMART InterMESH Ltd. is Rs 7399.95.

IndiaMART InterMESH Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 21622.73 Crore) operating in Services sector.

For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 173.60 Crore, up 6.37 % from last quarter Sales of Rs 163.20 Crore and up 5.28 % from last year same quarter Sales of Rs 164.90 Crore Company reported net profit after tax of Rs 80.70 Crore in latest quarter.

Investment Rationale
The brokerage arrives at DCF-based target price of INR 9,000 per share assuming 11% WACC and 5% terminal growth rate. It TP implies an upside of 22%.

Promoter/FII Holdings
Promoters held 52 per cent stake in the company as of Dec 30, 2020, while FIIs held 24.8 per cent, DIIs 5 per cent and public and others 18.2 per cent.

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