Fundamental Analysis – Vertoz Advertising (VERTOZ)

About the Stock:

Vertoz (NSEI: VERTOZ) enables businesses to excel in the modern digital environment through innovative, in-house technology solutions for Digital Marketing, Advertising, and Monetization. Serving a wide spectrum of clients, including businesses, digital marketers, advertising agencies, digital publishers, and technology firms, our leading platforms encompass IngeniousPlex, IncrementX, Adzurite, and AdMozart.

Business Model / Products & Services:

  • IngeniousPlex: An advanced MADTech Cloud platform leveraging AI, machine learning, and programmatic advertising for data-driven decision-making, workflow optimization, and real-time campaign optimization.
  • IncrementX: A technology-driven media platform connecting digital publishers across Asian and Western regions, enabling precise engagement with targeted audiences through programmatic and direct brand advertising.
  • AdMozart: A real-time Advertising Exchange (Ad Exchange) platform linking top demand and supply partners within the global digital advertising ecosystem.
  • Adzurite: A performance marketing platform utilizing an omnichannel approach to develop customized media execution strategies aligned with clients’ specific marketing objectives.
Company Valuation 
SectorMedia Entertainment & Publication
NSEVERTOZ
Market CapitalizationRs 3,456 Crore (As of April 19, 2024)
Book Value Per ShareRs 31.38
Face ValueRs 10
P/E ratio312.70
52 week H/L905.00 / 209.00
Dividend Yield (%)
Shareholding Pattern
ParticularsMar-23Jun-23Sep-23Dec-23
Foreign Promoters %25.6625.6622.3122.31
Indian Promoters %30.6630.6626.6526.65
DIIs %0000
FIIs %0.820.833.37.14
Others %42.8642.8547.7443.9
Ratios (Consolidated)
ParticularsMar 2019Mar 2020Mar 2021Mar 2022Mar 2023
ROCE %25.2112.6116.412.2917.08
ROE %22.699.7515.249.8414.87
ROA %15.76.8510.527.1810.2
Interest Coverage Ratio18.916.027.587.127.85
D/E0.150.210.230.140.11
P/B3.191.395.641.592.91
Balance Sheet (Consolidated Figures in Rs. Crores.)
(Year-end March)Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Share Capital612121212
Reserves3038465470
Borrowings6101399
Other Liabilities1010131139
Total Liabilities52718486130
Fixed Assets957565557
Capital WIP00000
Investments (Long Term)00000
Other Assets4313273173
Total Assets52718486130
Profit & Loss (Consolidated Figures in Rs. Crores.)
(Year-end March)Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales4641574283161
Other Income122111
Expenses3634453165138
Operating Profit11814121924
OPM%242025292216
Interest011123
Depreciation224334
Profit Before Tax95981419
Tax%17221221219
Net Profit74861118
PATM%161014151311
Cash Flows (Consolidated Figures in Rs. Crores.)
(Year-end March)Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity-838-32-15
Cash from Investing Activity0-49301
Cash from Financing Activity-110-1-218
Net Cash Flow-9-1003

Q3 FY24 Result Update:

  • Consolidated revenue from operations soared to Rs. 55.23 Crores, marking an impressive 155.91% year-on-year increase compared to the previous year’s revenue of 21.58 Crores.
  • Quarter-on-quarter, the revenue experienced a substantial growth of 46.67%.
  • EBITDA rose to Rs. 6.05 Crores, reflecting a notable 39.30% year-on-year increase, with an EBITDA margin of 10.95%.
  • Profit After Tax (PAT) totaled Rs. 4.51 Crores, demonstrating significant growth of 40.75% year-on-year.
Quarterly Results (Consolidated Figures in Rs. Crores)
ParticularsSep 2022Dec 2022Mar 2023Jun 2023Sept 2023Dec 2023
Sales162234343855
Other Income100100
Expenses121728303149
Operating Profit456576
OPM%262219151811
Interest001110
Depreciation111111
Profit Before Tax345455
Tax%291419925
Net Profit234446
PATM%151512101010

Conclusion:

In conclusion, Vertoz Advertising’s fundamental evaluation indicates a promising future ahead. The impressive financial performance, as highlighted in the data, demonstrates robust revenue growth and profitability. The company’s ability to capitalize on market opportunities and adapt to changing trends underscores its resilience and innovation. Furthermore, Vertoz’s proprietary tech platforms such as IngeniousPlex, IncrementX, Adzurite, and AdMozart exemplify its commitment to pioneering the Marketing and Advertising Technology (MADTech) sector.

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