Indiamart Intermesh Ltd logo

Indiamart Intermesh Ltd

INDIAMART NSE

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]

AI Verdict: HOLD Confidence: 5%

Indiamart trades at a PE of 27.1x with a 3-year ROE of 22% and healthy dividend payout of 55.4%, but declining stock CAGR of -11% over 3 years and TTM profit degrowth of -10% signal near-term headwinds. The 56.25% buy rating from analysts suggests cautious optimism, but valuation needs earnings recovery to justify re-rating.

Key Fundamentals

MicrocapE-ServicesRetail
Market Cap
₹11,835 Cr
Volatility
Moderate
P/E Ratio
24.74
EBITDA
₹734 Cr
Return on Equity
19.24%
Debt to Equity
0.01
Book Value
₹399.12
EPS
₹60.84
52W High
₹2,799
52W Low
₹1,911

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.204 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 3d ago
HOLD
Risk medium

Indiamart trades at a PE of 27.1x with a 3-year ROE of 22% and healthy dividend payout of 55.4%, but declining stock CAGR of -11% over 3 years and TTM profit degrowth of -10% signal near-term headwinds. The 56.25% buy rating from analysts suggests cautious optimism, but valuation needs earnings recovery to justify re-rating.

Bull Case 8
  • Company is virtually debt-free, providing financial flexibility and resilience during downturns with a debt-to-equity ratio near zero
  • 3-year ROE of 22% demonstrates consistent ability to generate shareholder returns well above cost of equity
  • Compounded sales growth of 17% over 3 years and 19% over 5 years shows durable revenue momentum in B2B e-commerce
  • Healthy dividend payout ratio of 55.4% with a dividend yield of 2.89% offers meaningful income return for a growth company
  • 56.25% of analysts rate the stock as a Buy, indicating majority institutional confidence in the business model
  • 10-year compounded sales and profit growth of 20% each reflects a proven long-term compounder with secular tailwinds in SME digitization
  • Price-to-book of 5.35x is reasonable for an asset-light platform business with 22% ROE and minimal capital expenditure needs
  • Market cap of Rs.12,610 Cr positions it as a mid-cap with room for institutional re-rating as earnings recover
Bear Case 8
  • Stock CAGR of -16% over 1 year and -11% over 3 years indicates sustained value destruction for shareholders
  • TTM compounded profit growth of -10% signals earnings contraction despite 13% revenue growth, pointing to margin compression
  • Other income of Rs.204 Cr inflates reported earnings, meaning core operating profitability is weaker than headline numbers suggest
  • PE of 27.1x is demanding for a company delivering negative profit growth on a TTM basis
  • 5-year stock CAGR of -10% shows the market has consistently de-rated the stock despite decent operational metrics
  • 31.25% of analysts rate the stock as a Sell, representing meaningful bearish conviction among coverage analysts
  • 5-year compounded profit growth of only 11% significantly lags the 19% sales CAGR, indicating deteriorating operating leverage
  • Last year ROE of 21% declined from the 3-year average of 22%, suggesting returns on equity may be trending lower

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Neutral 4
  • Investor meet June 12 Jun 8

    IndiaMART scheduled a group meeting with Choice Institutional Equities on June 12, 2026, via video conference. No UPSI to be shared.

  • BRSR filed for FY26 Jun 2

    IndiaMART filed its Business Responsibility and Sustainability Report for FY26, with ESG metrics assured by DNV.

  • Mumbai investor meet June 8 Jun 1

    IndiaMART announced an investor meet in Mumbai on June 8, 2026. No unpublished price sensitive information to be shared.

  • One-on-one with Enam Group May 28

    IndiaMART held a one-to-one investor meeting with Enam Group on May 28, 2026, via video conference. No UPSI was shared.

TL;DR: Recent newsflow for IndiaMART is entirely routine, consisting of scheduled investor interactions and a regulatory ESG filing. There are no identifiable headwinds or positive catalysts in the current batch. The company appears to be maintaining steady institutional engagement, but the absence of operational or financial updates means the near-term outlook remains driven by broader market sentiment rather than company-specific triggers.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
269
282
295
305
315
331
348
354
355
372
391
402
404
Expenses
213
215
226
227
238
223
226
230
236
253
275
282
284
Operating Profit
56
67
69
78
77
108
122
124
119
119
116
120
120
OPM %
21%
24%
23%
26%
24%
33%
35%
35%
34%
32%
30%
30%
30%
Other Income
31
55
35
42
77
53
66
45
109
92
10
135
-34
Interest
2
2
2
2
2
2
2
2
2
1
1
1
1
Depreciation
9
7
8
8
13
8
8
8
8
7
7
7
7
PBT
76
112
93
110
139
151
177
159
218
204
119
247
78
Tax %
26%
26%
26%
25%
28%
25%
24%
24%
17%
25%
30%
24%
36%
Net Profit
56
83
69
82
100
114
135
121
181
154
83
188
50
EPS in Rs
9.12
13.57
11.57
13.65
16.61
19.01
22.52
20.16
30.08
25.57
13.78
31.34
8.35
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
176
254
318
411
507
639
670
753
985
1,197
1,388
1,569
Expenses
228
373
391
487
490
472
344
458
755
906
915
1,094
Operating Profit
-52
-119
-74
-76
17
167
326
296
230
291
474
475
OPM %
-29%
-47%
-23%
-19%
3%
26%
49%
39%
23%
24%
34%
30%
Other Income
23
8
14
19
41
69
87
112
181
209
272
204
Interest
0
1
0
0
0
3
7
5
8
9
7
3
Depreciation
3
4
5
3
4
21
16
12
31
36
33
28
PBT
-32
-115
-64
-60
54
211
389
390
371
454
706
648
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
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
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 Mar 2026
Promoters 49.12%
FIIs 19.17%
Public 15.45%
DIIs 13.54%
Others 2.72%
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 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%
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%
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%
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%
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%
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%
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

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 Consumer Discretionary sector within the Retailing 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 ₹11835.37 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 24.74. 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 ₹1,911 and a high of ₹2,799. 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 3.04%. 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 19.24%. 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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