About Company

• Affle is a global technology company
• It is a consumer intelligence driven mobile marketing platform
• Transforms ads into recommendations helping marketers to effectively identify, engage, acquire and drive transactions with their potential and existing users

Stock Price Returns

Returns

• Affle India gave returns of 28% in 1 year (May’23- May-24)
• 4 year share price CAGR is 46%
• From 2019 to 2024, share price gave returns of 572% in 5 years.

Fundamental Analysis

Services Offered

1. Consumer Platform

• New consumer conversion through mobile advertising
• Helping companies acquire customers online & offline
• Company primarily revenue from Cost per Converted User (CPCU) basis

2. Enterprise Platform

• End to end solutions for companies for developing of app to enhance engagement
• Enabling offline to online business with e- commerce platform
• Cloud Services

Solutions Offered

a) CDP for Marketing Automation: Data & Audience Intelligence Platform to Grow ROI
b) Online to Offline Businesses: Platform helps fulfill omnichannel customer journeys, converting online impressions to offline sales
c) Technology Enabled by a Rich Patent Portfolio: 18 Patents granted and filed in fields of Consumer acceptable advertising, Messaging, Search & Ad Fraud Detection
c) High Engagement Video, Rich Media & Native Ad Experiences: Layered over our data-driven targeting & retargeting algorithms
d) Behavior, Transaction & Attribution Data based Decisions: Structured Data Sets driving Prediction & Recommendation algorithms
e) End-to-End Platform to Grow Marketing ROI: Enhance Marketing ROI and drive Consumer Acquisitions, Engagements & Transactions

Global Presence

1. India
2. Southeast Asia
3. Middle East and Africa
4. North America
5. Europe
6. Japan
7. Korea
8. Australia

Revenue Mix

1. Customer segment

2. Product Wise Breakup

CPCU (Cost per Converted User)

3. Location Wise Breakup

Key Ratios

Market Cap	₹ 17,303 Cr.
Current Price	₹ 1,234
High/Low	₹ 1,337 / 902
Stock PE	63.6
Industry PE	36
ROCE	20.2 %
ROE	18.5 %
PEG Ratio	1.17
Debt To Equity	0.14

Shareholding Pattern

Change In Shareholding Pattern

	Jun-21	Mar-24	Change
Promoters +	59.89%	56.92%	-2.97%
FIIs +	18.25%	14.79%	-3.46%
DIIs +	7.00%	14.72%	7.72%
Public +	14.86%	13.50%	-1.36%

Here is the analysis of the shareholding pattern:

1. Promoters:
   • Jun-21: 59.89%
   • Mar-24: 56.92%
   • Change: -2.97%
   • Analysis: The promoters’ shareholding has decreased by 2.97 percentage points. This reduction could indicate that the promoters have sold a portion of their holdings. This might be due to various reasons such as raising capital, reducing stake, or diversifying investments.
2. Foreign Institutional Investors (FIIs):
   • Jun-21: 18.25%
   • Mar-24: 14.79%
   • Change: -3.46%
   • Analysis: FII shareholding has decreased by 3.46 percentage points. This suggests that foreign investors have reduced their stake in the company. Possible reasons could be due to changing global investment strategies, concerns about the company’s future performance, or broader market conditions affecting foreign investment.
3. Domestic Institutional Investors (DIIs):
   • Jun-21: 7.00%
   • Mar-24: 14.72%
   • Change: +7.72%
   • Analysis: DIIs have significantly increased their holdings by 7.72 percentage points. This substantial increase might indicate a strong confidence in the company’s performance and potential from domestic institutions, or a strategic move to acquire more shares due to perceived undervaluation or growth prospects.
4. Public:
   • Jun-21: 14.86%
   • Mar-24: 13.50%
   • Change: -1.36%
   • Analysis: The public shareholding has slightly decreased by 1.36 percentage points. This minor reduction could be a result of individual investors selling their shares, possibly influenced by market sentiment or reallocating their investments elsewhere.

Financial Trend

Revenue Change from 2020 to 2024:

• Revenue in Mar-20: 334
• Revenue in Mar-24: 1,692
• Revenue Change (2020 to 2024): 406.7%

Net Profit Change from 2020 to 2024:

• Net Profit in Mar-20: 66
• Net Profit in Mar-24: 272
• Net Profit Change (2020 to 2024): 312.1%

Company Valuation

• Current PE- 63.6
• Median PE- 65.7
• As the current PE is less than the Median PE so company is fairly valued
• But when we compare current PE(63.6) with the Industry PE(36) so from this we can say that company is undervalued.

What Should Investors Do ?

• Affle India is currently undervalued company
• In 5 years, Revenue increased by 406% & Net Profit increased by 312%, but stock price is in the same range for last 4 years despite such a staggering growth in Net Profit
• Company has global presence & have many expansion plans , Affle India will continue to grow & outperform in the near future as well.
• If you are looking to invest in this company for the long term then & only then invest. Investing is all about the holding the stock for the long term.
• Current level of 1200 is good time to buy right now & Affle India has the potential to double the money within 2 years if you keep invested.

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Disclaimer

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