Accumulate Route Mobile; target of Rs 1325: Arihant Capital

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Arihant Capital's research report on Route Mobile

Route Mobile Ltd (Route), incorporated in 2004, is a Mumbai headquartered leading Cloud–communication platform provider, catering to enterprises, over-the-top (OTT) players and Mobile network operators. Their product portfolio includes smart solutions in Messaging, Voice, Email and SMS filtering, Analytics and Monetization. Route is one of the most prominent and largest CPaaS (cloud communication platform as a service) players in the world, especially in Asia, Africa & the Middle East. Route has ~300+employees and has served over 30,150 clients, since inception. They have access to 800+ networks across the globe, 255+ direct connections to Telecom operators and 3,000+ active monthly billable clients.

Outlook

We value the stock at a P/E multiple of 65(x) to Its FY22E EPS to arrive at a target price of Rs 1325. Which gives a potential upside of 19% from the current level. We initiate coverage on the stock with Accumulate Rating.

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