JM Monetary maintains Purchase on Simply Dial, raises goal value to Rs 1,250

JM Monetary has maintained a Purchase name on Simply Dial with a revised goal value of Rs 1,250 (Rs 1,220 earlier). The present market value of Simply Dial is Rs 932.05 Time interval given by analyst is 12 months when Simply Dial Ltd. value can attain outlined goal. Simply Dial, integrated in 1993, is a Mid Cap firm with a market cap of Rs 7994.81 crore, working in Providers sector.

Simply Dial’s key merchandise/income segments embrace Different Providers for the 12 months ending 31-Mar-2024.

Financials
For the quarter ended 31-03-2024, the corporate has reported a Consolidated Whole Earnings of Rs 361.56 crore, up 6.37% from final quarter Whole Earnings of Rs 339.90 crore and up 17.89% from final 12 months identical quarter Whole Earnings of Rs 306.69 crore. The corporate has reported internet revenue after tax of Rs 115.74 crore within the newest quarter.

The corporate?s prime administration contains Mr.B Anand, Mr.Anshuman Thakur, Ms.Geeta Fulwadaya, Mr.Ranjit Pandit, Ms.Bhama Krishnamurthy, Mr.Sanjay Bahadur, Mr.Malcolm Monteiro, Mr.Ashwin Khasgiwala, Mr.V Subramaniam, Mr.V S S Mani, Mr.Dinesh Taluja. Firm has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the corporate has a complete of 8 crore shares excellent.

Funding Rationale
Simply Dial’s collections (lead indicator for income) grew in 4Q by 11.3% YoY, meaningfully higher than JMFe of seven.0% in addition to 9MFY25 development of 5.6%. Sequential paid marketing campaign additions too have been sturdy at 12.2k versus JMFe of seven.7k and forward of 8k/7k/3k in 1Q/2Q/3Q. Whereas income grew 7.0% YoY (a miss on JM Monetary estimates by c.1%), EBITDA jumped 22% YoY to Rs 861 million (forward of our estimate by 3%) as a consequence of better-than-expected margin enlargement. Visitors pattern too was respectable at 11.8% YoY, partly aided by a slight improve in A&P spend. Whereas working efficiency was higher than anticipated, readability on the corporate?s money distribution coverage (refer our latest be aware) stays a key set off for inventory efficiency. Ex-cash and different earnings inventory is extraordinarily low cost at 8x FY26 PER, as present money and investments itself account for ~67% of Simply Dial?s market cap. JM Monetary continues to make use of goal PER a number of (ex-cash and different earnings) of 18x to reach at Mar?26 goal value of Rs 1,250. Promoter/FII Holdings
Promoters held 74.15 per cent stake within the firm as of 31-Mar-2025, whereas FIIs owned 6.56 per cent, DIIs 8.92 per cent.