ODIGMA - Odigma Consultan

📊 NSE: ODIGMA 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 10:40

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew by 49% Y-o-Y in Q2FY26. The company operates in two primary segments: Digital Marketing and Global Top Level Domain Undertaking. Digital Marketing revenue is driven by retainer-based services like SEO and social media management, while the domain registry provides infrastructure-related income.

Geographic Revenue Split

Not disclosed in available documents. The company maintains its registered office in GIFT City, Gandhinagar, and a corporate office in Bengaluru, Karnataka.

Profitability Margins

Profit After Tax (PAT) surged 66% Y-o-Y to INR 12 Lakhs in Q2FY26. The 66% growth in PAT significantly outpaced the 49% revenue growth, indicating substantial margin expansion and improved operational efficiency in the bottom-line focused business model.

EBITDA Margin

Not explicitly disclosed as a percentage, but the 66% Y-o-Y surge in PAT to INR 12 Lakhs suggests core profitability is strengthening as the company shifts toward high-margin retainer contracts which provide better cost absorption than sporadic campaigns.

Capital Expenditure

The company reported a net cash outflow in investing activities of INR 1,980.39 Lakhs for the half-year ended September 30, 2025, compared to an inflow of INR 157.94 Lakhs in the previous year, reflecting significant investment in assets or equity instruments.

Credit Rating & Borrowing

Not disclosed in available documents. The company reported cash and cash equivalents of INR 1,223.40 Lakhs as of September 30, 2025.

⚙️ Operational Drivers

Raw Materials

As a digital marketing firm, the primary 'raw materials' are human capital and technology infrastructure. Personnel costs and digital tool subscriptions represent the bulk of operational expenses, though specific percentage breakdowns are not provided.

Import Sources

Not applicable for digital services. Operations are centered in Gandhinagar (Gujarat) and Bengaluru (Karnataka).

Key Suppliers

Not disclosed in available documents; however, the company interacts with vendors, banks, and regulators to maintain its digital marketing and domain registry operations.

Capacity Expansion

Not applicable in traditional manufacturing terms. The company is expanding its service capacity by focusing on 'bottom-line' segments like SEO and ORM to build a sustainable foundation for future 'top-line' aggressive growth.

Raw Material Costs

Not applicable for service-based model. The company focuses on managing service delivery costs for social media management and creative design to maintain its 66% PAT growth.

Manufacturing Efficiency

Not applicable. Efficiency is measured by the 66% Y-o-Y growth in PAT, achieved through a strategic shift toward high-margin retainer services.

Logistics & Distribution

Not applicable for digital services.

📈 Strategic Growth

Expected Growth Rate

49%

Growth Strategy

The company is executing a two-phase strategy: first, establishing a stable foundation through 'bottom-line' retainer services (SEO, ORM, social media) that provide consistent cash flow; second, leveraging this stability to aggressively pursue 'top-line' growth through large-scale digital marketing campaigns.

Products & Services

Social media management, Search Engine Optimization (SEO), Online Reputation Management (ORM), creative design work, and Global Top Level Domain (gTLD) registry services.

Brand Portfolio

ODigMa

New Products/Services

The company is focusing on expanding its 'bottom-line' service engagements such as ORM and creative design to drive the 66% PAT growth.

Market Expansion

Following its demerger from Infibeam Avenues Ltd and listing in December 2024, the company is targeting growth in the digital marketing and e-commerce services segment.

Strategic Alliances

The company was recently demerged from Infibeam Avenues Ltd, which provided the initial corporate structure and listing platform.

🌍 External Factors

Industry Trends

The digital marketing industry is shifting from sporadic, high-spend campaigns to sustainable, long-term retainer models. ODigMa is positioning itself by prioritizing 'bottom-line' segments to build a stable foundation before scaling.

Competitive Landscape

The company competes in the crowded digital marketing and domain registry space, differentiating itself through its demerger pedigree and focus on profitable retainer segments.

Competitive Moat

The company's moat is built on long-term client relationships and a retainer-based service model that generates consistent cash flow. This is sustainable because services like SEO and ORM are essential, ongoing requirements for modern businesses, creating high switching costs.

Macro Economic Sensitivity

The company is sensitive to digital advertising spend trends; however, its focus on retainer services (SEO/ORM) provides a buffer against macro-economic volatility that typically affects large discretionary ad campaigns.

Consumer Behavior

Increased corporate focus on online reputation and search visibility is driving demand for ODigMa's ORM and SEO services.

⚖️ Regulatory & Governance

Industry Regulations

The company must comply with SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, Ind AS-108 for segment reporting, and Secretarial Standards SS-1 and SS-2 for board and general meetings.

Environmental Compliance

Not applicable for digital services; however, the company maintains an Internal Complaints Committee for sexual harassment redressal as per the Act of 2013.

Taxation Policy Impact

The company accounts for taxes on its standalone financial results; however, the specific effective tax rate % is not provided in the summary.

Legal Contingencies

The company reported zero (0) complaints filed, disposed of, or pending regarding sexual harassment for the financial year 2024-25.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the non-cash impact of fair value changes in equity instruments, which recorded a negative amount in Other Comprehensive Income in H1FY26 due to market fluctuations.

Geographic Concentration Risk

Operations are concentrated in India, specifically with offices in Gujarat and Karnataka.

Third Party Dependencies

Dependency on domain registry protocols and digital platform algorithms (Google/Meta) for service delivery.

Technology Obsolescence Risk

The digital marketing field is subject to rapid technological shifts; the company manages this by maintaining expertise in SEO, ORM, and creative design.