Indiamart Intermesh Ltd
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]
- Market Cap ₹ 13,555 Cr.
- Current Price ₹ 2,258
- High / Low ₹ 3,199 / 1,850
- Stock P/E 22.3
- Book Value ₹ 379
- Dividend Yield 0.89 %
- ROCE 37.7 %
- ROE 30.0 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 31.9% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 35.0%
- Company's median sales growth is 23.2% of last 10 years
Cons
- Earnings include an other income of Rs.284 Cr.
- Working capital days have increased from -63.3 days to 432 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: E-Commerce/App based Aggregator Industry: Miscellaneous
Part of BSE 500 BSE Allcap Nifty 500 BSE 400 MidSmallCap Index Nifty India Digital Index
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
126 | 173 | 246 | 309 | 404 | 497 | 624 | 665 | 751 | 939 | 1,139 | 1,320 | |
133 | 212 | 293 | 331 | 595 | 483 | 451 | 332 | 439 | 677 | 805 | 807 | |
Operating Profit | -7 | -39 | -47 | -23 | -191 | 14 | 173 | 333 | 312 | 262 | 334 | 514 |
OPM % | -5% | -22% | -19% | -7% | -47% | 3% | 28% | 50% | 42% | 28% | 29% | 39% |
1 | 23 | 8 | 14 | 7 | 36 | 62 | 85 | 108 | 108 | 170 | 284 | |
Interest | 0 | 0 | 1 | 0 | 0 | 0 | 3 | 7 | 5 | 5 | 4 | 4 |
Depreciation | 3 | 3 | 3 | 4 | 3 | 4 | 21 | 16 | 12 | 19 | 25 | 20 |
Profit before tax | -9 | -19 | -43 | -13 | -187 | 46 | 210 | 396 | 403 | 345 | 475 | 773 |
Tax % | 0% | 0% | 1% | 0% | -61% | 73% | 30% | 28% | 23% | 21% | 24% | 21% |
-9 | -19 | -43 | -13 | -72 | 13 | 146 | 287 | 310 | 272 | 362 | 607 | |
EPS in Rs | -4.81 | -10.37 | -23.58 | -7.16 | -36.22 | 2.20 | 25.30 | 47.23 | 50.71 | 44.48 | 60.39 | 101.15 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 20% | 16% | 2% | 22% | 33% | 49% |
Compounded Sales Growth | |
---|---|
10 Years: | 23% |
5 Years: | 16% |
3 Years: | 21% |
TTM: | 16% |
Compounded Profit Growth | |
---|---|
10 Years: | 36% |
5 Years: | 32% |
3 Years: | 25% |
TTM: | 68% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 15% |
3 Years: | -2% |
1 Year: | -19% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 21% |
3 Years: | 21% |
Last Year: | 30% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 9 | 9 | 9 | 9 | 10 | 29 | 29 | 30 | 31 | 31 | 60 | 60 |
Reserves | -113 | -139 | -67 | -262 | -322 | 132 | 246 | 1,586 | 1,862 | 2,034 | 1,710 | 2,216 |
49 | 49 | 66 | 0 | 0 | 0 | 77 | 63 | 56 | 46 | 41 | 33 | |
109 | 188 | 252 | 609 | 862 | 658 | 768 | 835 | 1,017 | 1,250 | 1,556 | 1,780 | |
Total Liabilities | 55 | 107 | 260 | 356 | 550 | 819 | 1,119 | 2,516 | 2,965 | 3,361 | 3,367 | 4,090 |
10 | 6 | 9 | 126 | 8 | 9 | 85 | 65 | 56 | 53 | 47 | 33 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 29 | 68 | 211 | 156 | 322 | 614 | 906 | 2,267 | 2,745 | 3,224 | 3,199 | 3,944 |
15 | 33 | 40 | 74 | 219 | 196 | 127 | 184 | 163 | 83 | 120 | 112 | |
Total Assets | 55 | 107 | 260 | 356 | 550 | 819 | 1,119 | 2,516 | 2,965 | 3,361 | 3,367 | 4,090 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2 | 14 | 15 | 59 | 183 | 259 | 264 | 326 | 407 | 464 | 545 | 614 | |
-2 | -11 | -146 | -60 | -170 | -282 | -236 | -1,343 | -339 | -316 | 181 | -492 | |
0 | -0 | 133 | 7 | 15 | 14 | -51 | 1,038 | -58 | -143 | -695 | -135 | |
Net Cash Flow | 0 | 3 | 2 | 6 | 28 | -9 | -23 | 22 | 10 | 5 | 31 | -12 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 2 | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 2 | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 |
Working Capital Days | -226 | -263 | -237 | -250 | -265 | -283 | -264 | -242 | -285 | -308 | -314 | 432 |
ROCE % | 86% | 40% | 22% | 17% | 24% | 38% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Acquisition
17h - IndiaMART to invest Rs. 41 Cr for 22.25% stake in AI logistics firm Fleetx Technologies.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
19h - IndiaMART Q4 FY25 revenue Rs.1388cr, 16% growth; focus on churn reduction and ARPU growth; Rs.50 dividend/share recommended.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22h - Scheduled investor meeting with Generation Investment Management on May 2, 2025, via video conference.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1d - Scheduled investor call with SVAN Investment on May 1, 2025; no price sensitive info shared.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Copy of newspaper publication with respect to Audited & Consolidated Financial Results for the quarter and year ended March 31, 2025.
Annual reports
Concalls
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May 2025Transcript PPT
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Oct 2024TranscriptPPTREC
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Oct 2024TranscriptNotesPPT REC
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Feb 2020TranscriptPPT
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Jan 2020Transcript PPT
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Oct 2019TranscriptNotesPPT
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Jul 2019Transcript PPT
Largest in the industry[1]
The company commands nearly 60% market share of the online B2B classifieds space which makes it the largest player in the industry. It has a portfolio of ~7.9 million supplier storefronts, ~2,14,000 paying subscription suppliers,~108 mn live product listings, ~24 mn unique business enquiries & a total traffic of 252 million repeated users. The company has ~194 mn registered buyers with a repeat of 53%. CRM has ~136Mn replies & callbacks. 37% suppliers are buyers.