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 ₹ 11,640 Cr.
- Current Price ₹ 1,935
- High / Low ₹ 2,799 / 1,860
- Stock P/E 24.5
- Book Value ₹ 399
- Dividend Yield 1.58 %
- ROCE 28.0 %
- ROE 20.7 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 55.4%
Cons
- Earnings include an other income of Rs.204 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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 176 | 254 | 318 | 411 | 507 | 639 | 670 | 753 | 985 | 1,197 | 1,388 | 1,569 | |
| 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% |
| 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 |
| Profit before tax | -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% |
| -32 | -116 | -64 | 55 | 20 | 147 | 280 | 298 | 284 | 334 | 551 | 475 | |
| 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 | 79.00 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 20% | 16% | 2% | 22% | 36% | 54% | 76% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 19% |
| 3 Years: | 17% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 11% |
| 3 Years: | 19% |
| TTM: | -10% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -12% |
| 3 Years: | -12% |
| 1 Year: | -26% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 22% |
| Last Year: | 21% |
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 | Mar 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 |
| 49 | 66 | 0 | 0 | 0 | 77 | 63 | 56 | 46 | 41 | 33 | 23 | |
| 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 |
| 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 |
| 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 |
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | -55 | -1 | 179 | 255 | 261 | 322 | 402 | 476 | 559 | 623 | 694 | |
| -4 | -75 | -8 | -165 | -276 | -233 | -1,338 | -335 | -324 | 162 | -486 | -347 | |
| -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% |
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 3 | 1 | 1 | 1 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| 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% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Active Buyers - Last 12 Months Million ・Standalone data |
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| Annualised Revenue Per Paying Supplier (ARPU) ₹ Thousand ・Standalone data |
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| Business Enquiries Delivered Million ・Standalone data |
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| Indian Supplier Storefronts Million ・Standalone data |
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| Live Product Listings Million ・Standalone data |
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| Paying Suppliers Thousand ・Standalone data |
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| Registered Buyers Million ・Standalone data |
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| Unique Business Enquiries Million ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
30 Jun - IndiaMART disclosed a June 30, 2026 one-to-one investor meeting with Eternity Capital.
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Announcement under Regulation 30 (LODR)-Meeting Updates
29 Jun - IndiaMART's 27th AGM on June 29, 2026 approved Rs 60/share dividend, reappointed Brijesh Agrawal, and noted Dhruv Prakash's cessation.
- Shareholder Meeting / Postal Ballot-Outcome of AGM 29 Jun
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 29 Jun
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Announcement under Regulation 30 (LODR)-Cessation
29 Jun - Mr. Dhruv Prakash ceased as Non-Executive Non-Independent Director after June 29, 2026 AGM.
Annual reports
Concalls
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May 2026Transcript PPT REC
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Feb 2020TranscriptPPT
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Jan 2020Transcript PPT
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Oct 2019TranscriptAI SummaryPPT
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Jul 2019Transcript PPT
Business Overview[1]
IndiaMART operates India's largest online B2B marketplace, connecting buyers and suppliers across diverse industries. The platform enables product discovery, lead generation, and business transactions through offerings such as web storefronts, priority listings, RFQ services, BuyLead credits, CRM tools, and cloud telephony solutions. It's technology-driven matchmaking engine helps efficiently connect buyers with relevant suppliers based on their business requirements.