Brightcom Group Ltd: Buy

CMP: Rs.32.75

T: Rs.41/46

Key Highlights: September, 2022 quarter results:

💥Revenue: ₹16.8b (up 53% from 2Q 2022).

💥Net income: ₹3.21b (up 51% from 2Q 2022).

💥Profit margin: 19% (in line with 2Q 2022).

💥EPS: ₹1.59 (up from ₹1.22 in 2Q 2022).

Net profit of Brightcom Group rose 51.16% to Rs.320.68 crore in the quarter ended September 2022 as against Rs.212.15 crore during the previous quarter ended September 2021. Photo: Zee Business.

Sales rose 52.48% to Rs.1683.07 crore in the quarter ended September 2022 as against Rs.1103.78 crore during the previous quarter ended September 2021. 

Blocal exchange and Brightcom video player, the two new product technology introductions, early this year have started contributing significantly to the overall business growth. Photo: The Economic Times.

Ace investor Shankar Sharma, holds substantial stake in the company.

Company Profile:

Brightcom Group is a global provider of comprehensive online or digital marketing services to direct marketers, brand advertisers, and marketing agencies. The company is divided into three major divisions: (i) Media (Ad-Tech and digital marketing), (ii) Software services, and (iii) Future technologies. Its primary clients are end advertisers, agencies and publishers, but also include ad exchanges & networks. Digital marketing accounts for a significant portion of Brightcom Group’s revenue pie.

The company’s client list contains some of the biggest names like Airtel, British Airways, CocaCola, Hyundai Motors, ICICI Bank, ITC, ING, Lenovo, LIC, Maruti Suzuki, MTV, P&G, Qatar Airways, Samsung, Viacom, Sony, Star India, Vodafone, Titan, and Unilever.