Indiamart Intermesh Ltd.

NSE: INDIAMART · Internet & Catalogue Retail

52W Range₹1,740 ₹2,685

Snapshot

Unlock Indiamart Intermesh Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

IndiaMART InterMESH Limited operates a leading business-to-business (B2B) online marketplace that connects buyers and suppliers across various industries. The platform facilitates trade for small and medium enterprises, large corporations, and individual users through an interactive digital hub.

Business Model

The company primarily generates revenue through subscription-based packages sold to suppliers, which provide them with enhanced visibility and lead generation tools on the platform. It also monetises through advertising services and payment facilitation solutions.

Growth Outlook

Growth is driven by the increasing digitisation of Indian SMEs and the expansion of the company's service offerings to include accounting and payment solutions. Continued penetration into tier-2 and tier-3 cities remains a key strategic focus.

Key Risks

  • Platform Competition. Intense competition from emerging B2B e-commerce platforms and vertical-specific marketplaces could pressure market share and pricing power.
  • Network Effects. The business relies heavily on maintaining a critical mass of active suppliers and buyers to ensure the platform's value proposition remains effective.
  • Regulatory Environment. Changes in Indian e-commerce regulations or data privacy laws could necessitate costly operational adjustments or limit business model flexibility.
  • SME Economic Sensitivity. As the primary customer base consists of small and medium enterprises, the company is vulnerable to broader economic downturns that impact SME spending capacity.

Price

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Key Metrics

REVENUE

₹1,569 Cr

TTM · consolidated

+13.0%YoY

NET PROFIT

₹475 Cr

TTM · consolidated

-13.8%YoY

EPS

₹79.09

TTM · consolidated

-13.9%YoY

RETURN ON EQUITY

21.2%

TTM · consolidated

-8.6 ppYoY

RETURN ON CAPITAL EMPLOYED

23.5%

TTM · consolidated

-6.8 ppYoY

P/E

22.2x

Q4 FY26 · consolidated

22.2 vs 20.9x5Y avg

EV/EBITDA

14.3x

Q4 FY26 · consolidated

14.3 vs 20.6x5Y avg

EBITDA MARGIN

46.8%

TTM · consolidated

-10.5 ppYoY

NET PROFIT MARGIN

12.4%

Q4 FY26 · consolidated

-38.5 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · Internet & Catalogue Retail

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Indiamart Intermesh Ltd.INDIAMART
11,85524.6215.8413.0%46.8%21.2%23.5%-26.8%
Info Edge (India) Ltd.NAUKRI
64,51753.9134.8815.3%67.9%4.9%5.1%-13.4%
Just Dial LimitedJUSTDIAL
4,35113.029.756.3%57.0%10.5%12.5%-11.4%
Crizac Ltd.CRIZAC
3,34415.0910.0830.2%37.5%47.7%-46.5%
TCC ConceptTCC
1,61520.029.05115.5%69.3%6.8%7.3%-45.5%
Matrimony.comMATRIMONY
88027.4511.970.9%16.4%14.7%17.9%-18.0%

As of Q4 FY26

Financials