Info Edge Moat Analysis: Score & Risks
Info Edge (India) Ltd.
A first-pass moat teardown of Info Edge (India) Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.
First-pass narrow read — primary edge in Switching Costs. Provisional, single-pass evidence.
Info Edge (India) Ltd. scores 4.78 on MoatSCORE 6.0 — a narrow moat in Consumer Services. This is a first-pass note: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.
Seven dimensions of moat
Ordered by contribution. Each dimension carries a verified filing quote, graded [M] mechanism or [O] outcome.
“Revenue is received primarily in the form of fees, which is recognized prorata over the subscription / advertising / service agreement, usually ranging between one to twelve months.”
“Marketing expenses were lowered by 13% YOY in Q4, despite continued investments in JobHai and other smaller businesses as they scale up their monetization efforts. As a result, the operating profit margin improved by 400 basis points to over 58% in Q4.”
“We unveiled the same in the current IPL season through a couple of brand campaigns that have gained quite good traction.”
“the Company has a nation-wide physical presence through 71 company branch offices spread across 46 cities in India. Through this network, it has 2,812 sales, servicing and client facing staff that supports the businesses.”
“billings were Rs. 429 crores, a nominal de-growth of 1% year-on-year”
“the value delivered to the Company's customers has also improved, with a growing share of higher-value candidate profiles being searched more frequently on Naukri, indicating a clear trend of platform premiumisation.”
D8 rating: ADEQUATE. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.
The barrier gate — first-pass
Effective barrier 5 — below 6, so the band is capped narrow. First-pass estimate.
Deep two-pass review. This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
The barrier gate. A firmer replication or bypass estimate is the most likely thing to shift the band.
Adverse events. Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.
Where this note fits. This company is one of 509 Indian companies we have scored for moat durability — 370 narrow, 126 narrow-trending-wide, none wide. Every score, dimension by dimension, is free in the Moat Screener.
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