{"id":157985,"date":"2024-01-24T11:41:37","date_gmt":"2024-01-24T16:41:37","guid":{"rendered":"https:\/\/44.250.171.167\/?p=157985"},"modified":"2024-01-24T11:41:38","modified_gmt":"2024-01-24T16:41:38","slug":"infibeam-avenues-ltd-q3-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/infibeam-avenues-ltd-q3-fy24-earnings-conference-call-insights\/","title":{"rendered":"Infibeam Avenues Ltd Q3 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Infibeam Avenues Ltd (INFIBEAM) Q3 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Payments Business Growth<\/strong>\n<ul>\n<li>India payments revenue crossed INR 500 million mark for the first time.<\/li>\n<li>India payments TPV increased 34% YoY to INR 663 billion.<\/li>\n<li>Added over 200,000 merchants in the quarter, averaging 2,500 per day.<\/li>\n<li>Incrementally added INR 50 billion in transaction processing volume.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Financials<\/strong>\n<ul>\n<li>Record high EBITDA margin of 61.2% and PAT margin of 37.3%.<\/li>\n<li>Standalone EBITDA margin 67% and PAT margin 42.4%.<\/li>\n<li>PAT increased 64% YoY to INR 42 crores.<\/li>\n<li>Focus on profitable growth without compromising any metrics.<\/li>\n<li>Consolidated margins amongst best in industry and better than top players.<\/li>\n<li>Gross revenue crossed $100 million in a quarter for the first time, driven by 147% YoY increase in India payments revenue.<\/li>\n<\/ul>\n<\/li>\n<li><strong>AI Investments<\/strong>\n<ul>\n<li>Launched India&#8217;s first AI hub Phronetic.ai at GIFT City.<\/li>\n<li>MoU with Gujarat government for INR 20 billion investment.<\/li>\n<li>Focus on enhancing efficiency, security, customer experience.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Market Share Gains<\/strong>\n<ul>\n<li>Credit card TPV contribution increased from under 50% to 53-55%.<\/li>\n<li>Market share in credit card spends rose from 9% to over 10%.<\/li>\n<li>Higher TPV and improved take rates driving growth.<\/li>\n<li>RBI ensuring only serious players get license in payments, reducing competition.<\/li>\n<li>Not compromising on payments revenue for lending revenue.<\/li>\n<li>Banking on AI for security, efficiency, fraud prediction.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Growth Outlook<\/strong>\n<ul>\n<li>Added 0.25 million merchants in Q3, will continue focus.<\/li>\n<li>International revenue potential to reach 25-30% in 2 years from 6-7% now.<\/li>\n<li>TapPay showing promise through partners like Chalo app.<\/li>\n<li>Currently processing AED1 billion per month in UAE.<\/li>\n<li>Aiming to scale merchants from 7,000 to 70,000 in next 12-24 months.<\/li>\n<li>UAE business has double digit bps take rate.<\/li>\n<\/ul>\n<\/li>\n<li><strong>International Expansion Strategy<\/strong>\n<ul>\n<li>Currently scaling up international business which impacts take rates.<\/li>\n<li>Huge growth opportunity seen in international markets.<\/li>\n<li>Investing in each market for data localization and licensing.<\/li>\n<li>International revenue share target is 25-30% in 2 years from 6-7% currently.<\/li>\n<li>Tailored strategies for large markets like US and Australia.<\/li>\n<li>Leveraging strengths like entertainment and hospitality verticals.<\/li>\n<\/ul>\n<\/li>\n<li><strong>New Products Using AI<\/strong>\n<ul>\n<li>Launched Visual AI product for video KYC in beta mode.<\/li>\n<li>Will publish AI frameworks in next 1-2 quarters for community use.<\/li>\n<li>Also building enterprise products for banks and financial institutions.<\/li>\n<li>Large opportunity to monetize AI products across sectors.<\/li>\n<\/ul>\n<\/li>\n<li><strong>AI Hub Strategy<\/strong>\n<ul>\n<li>Using AI to help small retailers with inventory management.<\/li>\n<li>Leveraging CCTV cameras for visual AI object detection.<\/li>\n<li>Can identify inventory levels and share data across platforms.<\/li>\n<li>Phases focused on getting statistically significant retailer participation.<\/li>\n<li>Goal is high accuracy in small object identification.<\/li>\n<\/ul>\n<\/li>\n<li><strong>GeM GMV Trends<\/strong>\n<ul>\n<li>Quarterly fluctuations in GeM GMV are not unusual.<\/li>\n<li>Overall strong growth, accomplished more in 9M than full last year.<\/li>\n<li>Typically see strong Q4 for GeM given elections and incentives.<\/li>\n<li>Expect continued growth in coming quarters.<\/li>\n<\/ul>\n<\/li>\n<li><strong>So Hum Investment<\/strong>\n<ul>\n<li>Acquiring remaining 49.5% stake in So Hum for INR 45 lakhs.<\/li>\n<li>So Hum applied as consortium for NUE retail payments license.<\/li>\n<li>Yet to hear back from RBI on NUE license bids.<\/li>\n<li>Investment makes So Hum a 100% subsidiary.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Pirimid Fintech Rationale<\/strong>\n<ul>\n<li>Pirimid builds low latency frameworks for lending and trading.<\/li>\n<li>Looking to integrate payments into their platforms.<\/li>\n<li>Opportunity in real-time capital markets settlements.<\/li>\n<li>Allows customized AI models for each client&#8217;s vertical.<\/li>\n<li>Fits into INFIBEAM lending strategy with large merchant base.<\/li>\n<\/ul>\n<\/li>\n<li><strong>ERP Customers<\/strong>\n<ul>\n<li>Currently showcase clients like JMG and Sony.<\/li>\n<li>In process of onboarding more ERP customers.<\/li>\n<li>ERP business poised for expansion with new clients.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Infibeam Avenues Ltd (INFIBEAM) Q3 FY24 Earnings Concall Payments Business Growth India payments revenue crossed INR 500 million mark for the first time. India payments TPV increased 34% YoY to INR 663 billion. Added over 200,000 merchants in the quarter, averaging 2,500 per day. Incrementally added INR 50 billion in transaction processing [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,8],"tags":[9005,8590,8775],"class_list":["post-157985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-technology-stocks","tag-digital-payments","tag-payment-services","tag-saas"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":158865,"url":"https:\/\/alphastreet.com\/india\/indian-railway-catering-and-tourism-corp-ltd-q3-fy24-earnings-conference-call-insights\/","url_meta":{"origin":157985,"position":0},"title":"Indian Railway Catering and Tourism Corp. 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