Intrasoft Technologies Ltd. share price target

IntraSoft Technologies Ltd. (ITL) a multi-channel e-commerce retailer, reported a mixed set of numbers for Q4 FY18. Top-line stood at Rs. 2,844.5mn as against to our expectation of Rs. 2,655mn. The results disappointed on the operational...

We initiate coverage on ITL as a BUY with a price objective of

IntraSoft Technologies Ltd. (ITL) a multi-channel e-commerce retailer, reported its Q3 FY18 numbers, which was above our expectations. The company reported a bottom-line of Rs. 50.7mn (declined by 20.3% Y-o-Y) on a top-line of...

IntraSoft Technologies Ltd. (ITL) a multi-channel e-commerce retailer, reported its Q2 FY18 numbers, which was above our expectations. The company reported a bottom-line of Rs. 39.5mn (declined by 26.8% Y-o-Y) on a top-line of...

Lower market place commission led to a contraction in gross margin: During the quarter, one of the key market place has extended its promotional offer to ITL, thereby effectively reducing the commission expenses. Consequently, the company passed on the saving arising from lower commission charges to the customers, in that way leading to lower sales value. There seems to be an impression of contraction in the gross margin, but that is not the case. Actually COGS went up, while sales & marketing expenses (SME; not part of gross margin calculation) declined. So on a net basis, COGS and SME as a percent of...

IntraSoft Technologies Ltd. (ITL) is a multi-channel e-commerce retail platform, with a strong technology backbone that primarily serves the US market. The company sells its products from its own site www.123stores.com. It also has shop-in-shop partnerships with other leading retailers and sells its products on their market places. The company currently sells across 10 different market places including Amazon.com (US), Amazon Canada, eBay.com, Sears.com, New Egg, Rakuten (buy.com), Jet.com, Alibaba's 11main.com, Bestbuy.com and its own e-commerce site www.123stores.com....

IntraSoft Technoplogies Ltd. is a multi-channel e-commerce retail platform, with a strong technology backbone. It is a 3rd party (3P) multi channel e-commerce retailer in the USA, with its backend in India. The Company is based on dual verticals viz.,123Stores Inc., which is a multichannel E-commerce retailer associated to online retail sales which covers US and Canada and 123Greetings.com, an online greeting cards company. Under E-Commerce, company offers products under various categories, such as furniture, patio, lawn and garden; musical instruments and gadgets; home improvements and art crafts; kitchen dining and appliances; toys, games and baby;...