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 ₹ 15,297 Cr.
- Current Price ₹ 2,548
- High / Low ₹ 3,176 / 1,850
- Stock P/E 25.9
- Book Value ₹ 364
- Dividend Yield 1.18 %
- ROCE 34.2 %
- ROE 26.9 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 29.1% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 37.3%
- Company's median sales growth is 23.6% of last 10 years
Cons
- Earnings include an other income of Rs.312 Cr.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 176 | 254 | 318 | 411 | 507 | 639 | 670 | 753 | 985 | 1,197 | 1,388 | 1,429 | |
| 228 | 373 | 391 | 487 | 490 | 472 | 344 | 458 | 755 | 906 | 915 | 944 | |
| Operating Profit | -52 | -119 | -74 | -76 | 17 | 167 | 326 | 296 | 230 | 291 | 474 | 485 |
| OPM % | -29% | -47% | -23% | -19% | 3% | 26% | 49% | 39% | 23% | 24% | 34% | 34% |
| 23 | 8 | 14 | 19 | 41 | 69 | 87 | 112 | 181 | 209 | 272 | 312 | |
| Interest | 0 | 1 | 0 | 0 | 0 | 3 | 7 | 5 | 8 | 9 | 7 | 6 |
| Depreciation | 3 | 4 | 5 | 3 | 4 | 21 | 16 | 12 | 31 | 36 | 33 | 32 |
| Profit before tax | -32 | -115 | -64 | -60 | 54 | 211 | 389 | 390 | 371 | 454 | 706 | 758 |
| Tax % | 0% | 0% | 0% | -191% | 63% | 30% | 28% | 24% | 24% | 26% | 22% | |
| -32 | -116 | -64 | 55 | 20 | 147 | 280 | 298 | 284 | 334 | 551 | 590 | |
| EPS in Rs | -17.43 | -63.34 | -35.16 | 27.38 | 3.50 | 25.50 | 46.09 | 48.71 | 46.38 | 55.68 | 91.73 | 98.33 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 20% | 16% | 2% | 22% | 36% | 54% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 17% |
| 3 Years: | 23% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 30% |
| 5 Years: | 29% |
| 3 Years: | 21% |
| TTM: | 62% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 2% |
| 1 Year: | -14% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 20% |
| Last Year: | 27% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 10 | 29 | 29 | 30 | 31 | 31 | 60 | 60 |
| Reserves | -152 | -153 | -399 | -331 | 131 | 246 | 1,581 | 1,844 | 2,028 | 1,676 | 2,125 |
| 49 | 66 | 0 | 0 | 0 | 77 | 63 | 56 | 46 | 41 | 33 | |
| 196 | 268 | 611 | 864 | 661 | 771 | 837 | 1,019 | 1,338 | 1,672 | 1,912 | |
| Total Liabilities | 102 | 191 | 221 | 543 | 821 | 1,123 | 2,511 | 2,949 | 3,442 | 3,449 | 4,130 |
| 6 | 10 | 9 | 8 | 9 | 86 | 65 | 56 | 553 | 536 | 515 | |
| CWIP | 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 |
| 36 | 56 | 76 | 223 | 204 | 136 | 192 | 171 | 106 | 166 | 161 | |
| Total Assets | 102 | 191 | 221 | 543 | 821 | 1,123 | 2,511 | 2,949 | 3,442 | 3,449 | 4,130 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | -55 | -1 | 179 | 255 | 261 | 322 | 402 | 476 | 559 | 623 | |
| -4 | -75 | -8 | -165 | -276 | -233 | -1,338 | -335 | -324 | 162 | -486 | |
| -0 | 133 | 7 | 15 | 14 | -51 | 1,038 | -58 | -143 | -695 | -148 | |
| Net Cash Flow | 3 | 2 | -1 | 29 | -7 | -23 | 23 | 9 | 9 | 27 | -11 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 3 | 1 | 1 |
| Inventory Days | |||||||||||
| Days Payable | |||||||||||
| Cash Conversion Cycle | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 3 | 1 | 1 |
| Working Capital Days | -272 | -241 | -243 | -260 | -277 | -266 | -246 | -289 | -305 | -311 | -305 |
| ROCE % | 84% | 39% | 22% | 19% | 24% | 34% |
Documents
Announcements
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Voluntary Communication Under 100 Days Campaign - ''Saksham Niveshak''
1d - Appeal to shareholders to update KYC and claim unpaid dividends; IEPFA 'Saksham Niveshak' campaign Jul 28–Nov 6, 2025.
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Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
29 Aug - IndiaMART: Aug 29, 2025 shareholders approved Vasuta Agarwal appointment and Amit Agarwal RPT; resolutions passed.
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Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
29 Aug - 29 Aug 2025: Appointed Vasuta Agarwal as Independent Director; approved Amit Agarwal related-party office/place of profit.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
28 Aug - One-to-one call with Pictet Asset Management on Aug 28, 2025 at 03:00 PM; no UPSI shared.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22 Aug - One-on-one investor meeting with Girik Capital on Aug 22, 2025 at 2:00 PM in Noida.
Annual reports
Concalls
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Jan 2025Transcript PPT
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Oct 2024TranscriptPPTREC
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Oct 2024TranscriptNotesPPT REC
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Oct 2024TranscriptNotesPPT
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Oct 2024TranscriptNotesPPT
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Aug 2024TranscriptPPTREC
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Jul 2024TranscriptNotesPPT REC
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May 2024Transcript PPT REC
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Jan 2024Transcript PPT
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Nov 2023Transcript PPT
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Jul 2023Transcript PPT REC
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May 2023Transcript PPT
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Jan 2023Transcript PPT
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Oct 2022Transcript PPT
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Jul 2022Transcript PPT
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Oct 2021Transcript PPT
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Jul 2021Transcript PPT
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Apr 2021Transcript PPT
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Jan 2021Transcript PPT
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Nov 2020Transcript PPT
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Jul 2020Transcript PPT
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May 2020Transcript PPT
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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.