Please use operating cashflow instead of this as PAT< Operating cashflows due to longer subscriptions sold by company to its suppliers (greater than 1 year) that would be better to forecast as deferred revenue is huge component and it creates float for company as it receives money in advance and recognise revenue later but expense being upfront in nature.
Affle connects marketers/businesses/brands to potential customers, charging on cost per converted user basis. They have/acquire IP enabling them to do the same. Threat of Google/Meta remains.
Indiamart is also connecting B2B buyers and sellers based on their own algorithms and charging on a subscription basis. Threats remain, but other possible opportunities of monetization also open.
There are differences, but I’m just broadly trying to understand why such a disparity in valuations.
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Affle is able to consistently grow top line whereas IndiaMart isn’t
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