Indiamart Intermesh Ltd logo

Indiamart Intermesh Ltd

INDIAMART NSE

Key Fundamentals

MicrocapE-ServicesRetail
Market Cap
₹10,708 Cr
Volatility
Moderate
P/E Ratio
21.36
EBITDA
₹734 Cr
Return on Equity
19.78%
Debt to Equity
0.01
Book Value
₹399.12
EPS
₹60.84
52W High
₹2,685
52W Low
₹1,730

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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39 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 55.4%

Weaknesses

1
  • Earnings include an other income of Rs.218 Cr.

Growth Rate

Revenue Growth
6.76% ↘
Net Income Growth
-13.80% ↘
Cash Flow Change
11.39% ↗
ROE
-21.51% ↘
ROCE
-18.46% ↘
EBITDA Margin (Avg.)
-13.53% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 29d ago
AI opinion · based on fundamentals
Risk medium

Indiamart Intermesh is a near-debt-free B2B marketplace trading at a PE of 24.2x with a market cap of ~Rs 11,686 Cr. FY25 consolidated revenue grew 16% YoY to Rs 1,388 Cr and net profit rose 65% to Rs 551 Cr, though the stock has declined 28% over the past year and profit growth on a TTM basis has turned negative at -10%.

Bull Case 8
  • Near debt-free balance sheet with cash and investments of Rs 2,885 Cr as of March 2025, providing substantial financial flexibility
  • FY25 consolidated revenue grew 16% YoY to Rs 1,388 Cr, with a 5-year compounded sales CAGR of 19%
  • FY25 net profit surged 65% YoY to Rs 551 Cr with Q4FY25 PAT jumping 81% YoY to Rs 181 Cr
  • Healthy dividend payout ratio of 55.4% with current dividend yield of 3.14%, attractive for a tech-platform business
  • Deferred revenue grew 17% YoY to Rs 1,678 Cr as of March 2025, providing strong revenue visibility
  • Unique business enquiries rose 10-17% YoY across quarters in FY25, reaching 27 million in Q4, indicating sustained platform engagement
  • 3-year ROE averaging 22% and last year ROE at 21% demonstrate consistent capital efficiency
  • Q4FY25 operating cash flow of Rs 271 Cr highlights strong cash conversion from operations
Bear Case 8
  • Stock has declined 28% over the past year and delivered a negative 5-year CAGR of -12%, significant value destruction for long-term holders
  • TTM profit growth has turned negative at -10%, signalling potential earnings deceleration after the FY25 base effect
  • Earnings quality concern: other income of Rs 204 Cr forms a material portion of total profit, inflating reported earnings
  • Paying subscriber base showed volatility — declined by 3,500 to 214,000 in Q3FY25 before recovering to 217,000 in Q4FY25, indicating elevated churn in the Silver segment
  • Net subscriber additions remain modest at ~1,500 per quarter, limiting revenue acceleration potential from volume growth
  • PE of 24.2x may not fully discount slowing growth — compounded profit CAGR over 5 years is only 11% vs 19% for sales, indicating margin pressure over longer periods
  • Q4FY26 PAT dropped 72% YoY to Rs 50 Cr with operating margin contracting ~970 bps, suggesting renewed cost pressure or one-off drags
  • Revenue growth decelerated from 19% (5-year CAGR) to 13% on a TTM basis, indicating a maturing growth profile

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 29d ago
Neutral 3
  • Q1 FY27 earnings call scheduled Jul 15

    IndiaMART InterMESH will host its Q1 FY27 earnings webinar on July 21, 2026, with senior management addressing analysts.

  • Analyst meet with Eternity Capital Jun 30

    IndiaMART held a meeting with Eternity Capital on June 30, 2026. No unpublished price sensitive information was shared.

  • Director Dhruv Prakash exits board Jun 29

    Dhruv Prakash ceased to be Non-Executive Non-Independent Director effective June 29, 2026, following the conclusion of the 27th AGM.

TL;DR: A quiet period for IndiaMART with no material positive or negative catalysts. Recent updates are limited to routine corporate governance events—an upcoming earnings call, a standard analyst interaction, and a scheduled director departure at the AGM. The stock lacks near-term directional triggers; the Q1 FY27 results on July 21 will be the next meaningful data point for assessing growth trajectory.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
282
295
305
315
331
348
354
355
372
391
402
404
414
Expenses
215
226
227
238
223
226
230
236
253
275
282
284
282
Operating Profit
67
69
78
77
108
122
124
119
119
116
120
120
132
OPM %
24%
23%
26%
24%
33%
35%
35%
34%
32%
30%
30%
30%
32%
Other Income
55
35
42
77
53
66
45
109
92
10
135
-34
107
Interest
2
2
2
2
2
2
2
2
1
1
1
1
0
Depreciation
7
8
8
13
8
8
8
8
7
7
7
7
6
PBT
112
93
110
139
151
177
159
218
204
119
247
78
232
Tax %
26%
26%
25%
28%
25%
24%
24%
17%
25%
30%
24%
36%
26%
Net Profit
83
69
82
100
114
135
121
181
154
83
188
50
172
EPS in Rs
13.57
11.57
13.65
16.61
19.01
22.52
20.16
30.08
25.57
13.78
31.34
8.35
28.63
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
176
254
318
411
507
639
670
753
985
1,197
1,388
1,569
1,611
Expenses
228
373
391
487
490
472
344
458
755
906
915
1,094
1,124
Operating Profit
-52
-119
-74
-76
17
167
326
296
230
291
474
475
488
OPM %
-29%
-47%
-23%
-19%
3.4%
26%
49%
39%
23%
24%
34%
30%
30%
Other Income
23
8
14
19
41
69
87
112
181
209
272
204
218
Interest
0
1
0
0
0
3
7
5
8
9
7
3
2
Depreciation
3
4
5
3
4
21
16
12
31
36
33
28
28
PBT
-32
-115
-64
-60
54
211
389
390
371
454
706
648
676
Tax %
0%
0%
0%
-191%
63%
30%
28%
24%
24%
26%
22%
27%
—
Net Profit
-32
-116
-64
55
20
147
280
298
284
334
551
475
493
EPS in Rs
-17.43
-63.34
-35.16
27.38
3.5
25.5
46.09
48.71
46.38
55.68
91.73
79
82.1
Div. Payout %
0%
0%
0%
0%
0%
20%
16%
2%
22%
36%
54%
76%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
9
9
9
10
29
29
30
31
31
60
60
60
Reserves
-152
-153
-399
-331
131
246
1,581
1,844
2,028
1,676
2,125
2,340
Borrowings
49
66
0
0
0
77
63
56
46
41
33
23
Other Liabilities
196
268
611
864
661
771
837
1,019
1,338
1,672
1,912
2,201
Total Liabilities
102
191
221
543
821
1,123
2,511
2,949
3,442
3,449
4,130
4,625
Fixed Assets
6
10
9
8
9
86
65
56
553
536
515
494
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
Investments
60
125
136
311
607
901
2,254
2,722
2,784
2,746
3,453
3,792
Other Assets
36
56
76
223
204
136
192
171
106
166
161
338
Total Assets
102
191
221
543
821
1,123
2,511
2,949
3,442
3,449
4,130
4,625
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
7
-55
-1
179
255
261
322
402
476
559
623
694
Investing
-4
-75
-8
-165
-276
-233
-1,338
-335
-324
162
-486
-347
Financing
0
133
7
15
14
-51
1,038
-58
-143
-695
-148
-340
Net Cash Flow
3
2
-1
29
-7
-23
23
9
9
27
-11
7
Free Cash Flow
4
-63
-3
177
250
256
323
398
460
545
615
687
CFO/OP
-10
48
-1
-236
1,524
167
117
169
240
224
164
179
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
1
0
1
1
0
1
1
1
3
1
1
1
Cash Conversion Cycle
1
0
1
1
0
1
1
1
3
1
1
1
Working Capital Days
-272
-241
-243
-260
-277
-266
-246
-289
-305
-311
-305
-301
ROCE %
—
—
—
—
—
84%
39%
22%
19%
24%
34%
28%

Shareholding Pattern

As of Jun 2026
Promoters 49.07%
FIIs 19.92%
Public 16.10%
DIIs 12.11%
Others 2.80%
Total 100.00%
  Feb 2021Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
49.85%
49.85%
49.82%
49.53%
49.53%
49.53%
49.22%
49.22%
49.22%
49.22%
49.22%
49.21%
49.21%
49.21%
49.21%
49.21%
49.17%
49.17%
49.17%
49.17%
49.12%
49.12%
49.07%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
27.34%
24.16%
23.07%
23.37%
23.86%
21.06%
18.95%
19.22%
21.53%
18.27%
19.17%
19.92%
DIIs
4.06%
3.92%
4.35%
4.23%
4.86%
4.89%
4.44%
4.86%
5.81%
5.19%
5.64%
5.47%
8.25%
10.62%
11.82%
12.11%
13.86%
15.50%
15.30%
13.00%
16.41%
13.54%
12.11%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
12.36%
12.89%
13.65%
12.20%
13.50%
15.73%
16.25%
15.14%
14.38%
13.32%
13.07%
12.83%
13.18%
12.64%
12.86%
12.08%
14.11%
14.51%
14.40%
14.38%
14.20%
15.45%
16.10%
Others
33.73%
33.34%
32.18%
34.04%
32.12%
29.86%
30.10%
30.78%
30.59%
32.26%
32.07%
5.16%
5.20%
4.46%
2.74%
2.75%
1.81%
1.87%
1.92%
1.92%
2.00%
2.72%
2.80%
No. of Shareholders
72,718
94,680
1,52,874
1,34,182
1,59,617
2,10,173
2,41,409
2,14,640
1,95,249
1,77,654
1,65,627
1,71,554
1,71,361
1,61,823
1,59,877
1,48,435
1,68,357
1,68,138
1,69,988
1,63,687
1,57,986
1,58,065
1,55,473

Documents

Frequently Asked Questions about Indiamart Intermesh Ltd

What does Indiamart Intermesh Ltd do?
IndiaMART, the first and largest B2B digital marketplace in the country, today stands out as a game-changer on the B2B landscape. It focuses on integrating the Small and Medium Businesses (SMEs) into the new paradigm with speed and ease, we are constantly pushing the frontiers of innovation to ma...
Where is Indiamart Intermesh Ltd (INDIAMART) listed?
Indiamart Intermesh Ltd is listed on the Indian stock exchanges. It is listed on NSE: INDIAMART and BSE: 542726. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Indiamart Intermesh Ltd belong to?
Indiamart Intermesh Ltd operates in the Retail sector within the E-Services industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Indiamart Intermesh Ltd?
Indiamart Intermesh Ltd has a market capitalisation of approximately ₹10707.89 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Indiamart Intermesh Ltd?
The Price-to-Earnings (PE) ratio of Indiamart Intermesh Ltd is 21.36. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Indiamart Intermesh Ltd?
Over the past 52 weeks, Indiamart Intermesh Ltd has traded between a low of ₹1,730 and a high of ₹2,685. This range helps investors understand the stock's price volatility and recent trading levels.
Does Indiamart Intermesh Ltd pay dividends?
Yes, Indiamart Intermesh Ltd has a dividend yield of 3.39%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Indiamart Intermesh Ltd?
Indiamart Intermesh Ltd has a Return on Equity (ROE) of 19.78%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Indiamart Intermesh Ltd on Tapetide?
On Tapetide, you can view Indiamart Intermesh Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

IndiaMART, the first and largest B2B digital marketplace in the country, today stands out as a game-changer on the B2B landscape. It focuses on integrating the Small and Medium Businesses (SMEs) into the new paradigm with speed and ease, we are constantly pushing the frontiers of innovation to make the online marketplace more accessible, visible and engaging to them. [1]

Website indiamart.com
CEO Mr. Dinesh Chandra Agarwal
Listed 2019-07-04
Face Value ₹ 10
Issued Size 6,00,87,148

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