Indiamart Intermesh Ltd

INDIAMART

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Market Cap

₹ 13,448 Cr

P/E

25.01

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Bearish

Risk

LOW RISK

Investment Checklist

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Price

PE Ratio

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Overview

Detailed Summary

IndiaMART InterMESH Ltd. is India's largest online B2B marketplace, connecting buyers with suppliers across diverse categories and geographies.

The company has shown a notable 12% YoY growth in consolidated revenue to ₹391 crores, reflecting strong operational performance despite challenges such as the decline in other income due to bond yield changes.

IndiaMART has been focusing on furthering its technological advancements, particularly around AI, to optimize user experiences and operational efficiencies, including the use of AI-driven voice bots and call analytics.

The company's strategic investments and acquisitions, including Busy Infotech and Livekeeping, underscore its commitment to diversifying its service offerings and enhancing value for its client base.

Sector

E-Commerce/App based Aggregator

Industry

E-Services

Market Cap

13,448 Cr

Volatility

Low Risk

P/E Ratio

25.0

Industry P/E

54.1

PEG Ratio

4.4

P/B Ratio

6.3

52W High

2,772.00

52W Low

1,850.00

Sales CAGR

16.01%

20.70%

16.18%

10Y

—

Profit CAGR

64.90%

25.14%

32.95%

10Y

—

ROE

TTM

25.16%

20.32%

19.11%

10Y

19.62%

ROCE

TTM

24.97%

20.48%

19.93%

10Y

18.33%

Technicals

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Forecasts

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
URBANCO	122.60	17,729 Cr	73.86	7.52	0.00	-4.32	-3.66	-1.48
INDIAMART	2240.00	13,448 Cr	25.01	6.29	2.23	25.16	24.97	13.03
CARTRADE	2718.00	13,048 Cr	69.75	5.60	0.00	8.03	10.32	7.19
JUSTDIAL	704.00	6,015 Cr	43.13	1.49	0.00	3.58	4.67	7.47
MOBIKWIK	231.50	1,821 Cr	—	3.48	0.00	-34.74	-17.53	-13.01
MATRIMONY	518.35	1,117 Cr	32.56	4.52	1.93	13.89	15.78	7.35
RNFI	324.85	814 Cr	44.99	7.08	0.00	26.51	33.43	7.86

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	282	295	305	315	331	348	354	355	372	391
Expenses	205	215	220	226	212	213	216	225	239	261
Operating Profit	77	80	86	88	120	135	138	130	134	130
OPM %	27.40	27.15	28.07	28.09	36.07	38.71	39.03	36.72	35.88	33.17
Other Income	45	24	35	66	42	53	31	98	78	-3.20
Interest	2.20	2.30	2.20	2.20	2.00	1.90	1.80	1.70	1.00	0.70
Depreciation	7.40	8.00	8.40	13	8.10	8.20	8.30	8.30	6.90	7.20
Profit Before Tax	112	93	110	139	151	177	159	218	204	119
Tax %	26.07	25.62	25.27	28.40	24.70	23.80	23.90	17.19	24.72	30.27
Net Profit	83	69	82	100	114	135	121	181	154	83
EPS in Rs	13.87	11.33	13.62	16.57	18.94	22.46	20.18	30.06	25.52	13.71

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	411	507	639	670	753	985	1,197	1,388	1,429
Expenses	487	490	470	341	446	718	865	866	892
Operating Profit	-76	17	169	328	308	268	331	523	537
OPM %	-18.57	3.37	26.44	49.01	40.86	27.19	27.69	37.66	37.56
Other Income	19	41	67	84	100	143	168	223	260
Interest	0.00	0.00	3.28	6.66	5.40	8.15	8.91	7.41	6.40
Depreciation	2.89	4.13	21	16	12	31	36	33	32
Profit Before Tax	-60	54	211	389	390	371	454	706	758
Tax %	191.12	62.83	30.29	28.14	23.77	23.55	26.50	21.98	22.17
Net Profit	55	20	147	280	298	284	334	551	590
EPS in Rs	—	-0.06	1,13,19,21,765.89	46.23	49.21	47.35	55.38	91.64	89.47
Dividend Payout %	0.00	0.00	19.90	15.86	2.07	43.18	36.34	54.59	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	9.98	29	29	30	31	31	60	60
Reserves	-331	131	246	1,581	1,844	2,028	1,676	2,125
Borrowings	0.00	0.00	77	63	56	46	41	33
Other Liabilities	864	661	771	837	1,019	1,340	1,672	1,915
Total Liabilities	543	821	1,123	2,511	2,949	3,445	3,449	4,134
Fixed Assets	8.07	9.06	86	65	56	553	536	515
CWIP	0.18	0.18	0.18	0.18	0.18	0.18	0.50	0.47
Investments	311	607	901	2,254	2,722	2,784	2,746	3,453
Other Assets	223	204	136	192	171	108	166	165
Total Assets	543	821	1,123	2,511	2,949	3,445	3,449	4,134

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	179	255	261	323	402	476	559	623
Cash from Investing Activity	-165	-276	-233	-1,338	-335	-324	162	-486
Cash from Financing Activity	15	14	-51	1,038	-58	-143	-695	-148
Net Cash Flow	29	-6.51	-23	23	9.43	8.56	27	-11

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	49.29%	49.27%	49.27%	49.26%	49.25%	49.23%	49.23%	49.23%	49.21%	49.19%	49.18%	49.18%
FIIs	25.41%	26.63%	26.79%	27.37%	24.18%	23.09%	23.38%	23.87%	21.08%	18.96%	19.22%	21.54%
DIIs	5.82%	5.63%	5.65%	5.47%	8.25%	10.62%	11.83%	12.11%	13.87%	15.51%	15.30%	13.00%
Public	19.47%	18.46%	18.28%	17.89%	18.31%	17.06%	15.56%	14.79%	15.84%	16.34%	16.29%	16.28%
Total Shareholders	1,95,249	1,77,654	1,65,627	1,71,470	1,71,361	1,61,823	1,59,877	1,48,435	1,68,357	1,68,138	1,69,988	1,63,687

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Oct 21, 2024	Graviton research capital llp	Bulk	Buy	2,530.34	113.97 Cr	4,50,400	0.75
Oct 21, 2024	Graviton research capital llp	Bulk	Sell	2,547.48	129.18 Cr	5,07,100	0.84
Jun 21, 2024	Westbridge crossover fund llc	Bulk	Sell	2,601.00	189.87 Cr	7,30,000	1.21

Projection

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Announcements

Last 7 days

Newest

Sentiment

Analyst/Investor Meet

1 day ago

Outcome of Analyst/Investor Meet

IndiaMART InterMESH Ltd. disclosed the outcome of their analyst/institutional investor meet, confirming no unpublished price sensitive information was shared.

Analyst/Investor Meet

6 days ago

Outcome of Analyst/Investor Meet

IndiaMART InterMESH Limited provided the details of an analyst/institutional investor meet held on December 11, 2025, emphasizing that no unpublished sensitive information was shared.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
URBANCO	122.60	17,729 Cr	73.86	7.52	0.00	-4.32	-3.66	-1.48
INDIAMART	2240.00	13,448 Cr	25.01	6.29	2.23	25.16	24.97	13.03
CARTRADE	2718.00	13,048 Cr	69.75	5.60	0.00	8.03	10.32	7.19
JUSTDIAL	704.00	6,015 Cr	43.13	1.49	0.00	3.58	4.67	7.47
MOBIKWIK	231.50	1,821 Cr	—	3.48	0.00	-34.74	-17.53	-13.01
MATRIMONY	518.35	1,117 Cr	32.56	4.52	1.93	13.89	15.78	7.35
RNFI	324.85	814 Cr	44.99	7.08	0.00	26.51	33.43	7.86

Overview

Detailed Summary

IndiaMART InterMESH Ltd. is India's largest online B2B marketplace, connecting buyers with suppliers across diverse categories and geographies.

The company's strategic investments and acquisitions, including Busy Infotech and Livekeeping, underscore its commitment to diversifying its service offerings and enhancing value for its client base.

Sector

E-Commerce/App based Aggregator

Industry

E-Services

Market Cap

13,448 Cr

Volatility

Low Risk

P/E Ratio

25.0

Industry P/E

54.1

PEG Ratio

4.4

P/B Ratio

6.3

52W High

2,772.00

52W Low

1,850.00

Sales CAGR

16.01%

20.70%

16.18%

10Y

—

Profit CAGR

64.90%

25.14%

32.95%

10Y

—

ROE

TTM

25.16%

20.32%

19.11%

10Y

19.62%

ROCE

TTM

24.97%

20.48%

19.93%

10Y

18.33%

Indiamart

Indiamart Intermesh Ltd

INDIAMART

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

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Indiamart Intermesh Ltd

INDIAMART

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