Mr. Pawan Goyal has ceased to be the Whole-time Director and Chief Business Officer-Naukri at info edge effective from the close of business hours on May 31, 2026. His departure also results in his cessation as a member of the various Committees of the Board where he held membership. This development was disclosed to the exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company informed the National Stock Exchange of India Limited and BSE Limited regarding the change in its Key Managerial Personnel. The intimation follows a previous letter dated April 1, 2026, regarding the matter. The official notice has been uploaded on the company's website and is accessible to the public.

Details of the Cessation

The following table outlines the key details of the regulatory filing:

Jaya Bhatia, the Company Secretary & Compliance Officer of Info Edge (India) Limited, signed the disclosure on May 31, 2026. The filing confirms that Goyal's tenure concluded at the end of business hours on the specified date.

Info Edge has received a maintained Neutral rating from Macquarie, with the global brokerage firm setting a target price of ₹1,000. The assessment reflects a cautious stance on the stock, driven by a combination of macroeconomic and business-specific factors that the brokerage believes temper the near-term investment case.

Key Factors Behind the Neutral Stance

Macquarie's rating is underpinned by two primary concerns that shape its current outlook on Info Edge. The brokerage's assessment can be summarised as follows:

Hiring Activity and Risk-Reward Assessment

Slower hiring activity has been identified as a significant factor weighing on Info Edge's business outlook. Given that Naukri, the company's flagship recruitment platform, is closely tied to the broader employment and hiring environment, any moderation in hiring trends directly impacts revenue visibility. Macquarie has also flagged an unfavourable risk-reward balance at current levels, suggesting that the potential upside does not adequately compensate for the risks associated with the stock.

Naukri Recognised as a Cash-Generative Business

Despite the cautious overall stance, Macquarie continues to acknowledge the underlying quality of the Naukri business. The brokerage views the platform as a strong cash-generative operation, reflecting its established market position within India's online recruitment segment. This recognition underscores that the Neutral rating is driven more by valuation and near-term cyclical pressures rather than any fundamental concerns about the business model.